Travel Tips
Managing Money and Valuables
Before leaving, we arranged through our bank to get some foreign currency for each of the countries we would be visiting (as we mentioned above). We checked through the Internet to get a list of ATM machines near the locations we would be staying and took that list with us. We knew the list would not be completely up-to-date, but it would give us an idea of the availability of ATMs. We also arranged to have many of our bills automatically deducted from our account and we arranged for Internet banking. The person who had power of attorney could take care of any other money matters that arose.
IMPORTANT UPDATE --- May 5, 2005
Exchanging money prior to the trip was very convenient. That way we avoided the need to exchange money at airports where the rate is generally considerably higher, the transactions may be time-consuming and interfere with travel arrangements and the exchange counters are often open only during business hours.
We did not get travelers checks. We had found during earlier trips that with them we would often get a poor exchange rate, the pain of going through the process of cashing them was more than we wanted to bother with, and many places simply will not accept them any more. We have learned that with the widening acceptance of credit cards and the advent of ATM machines, travelers checks have become fairly archaic.
This was particularly apparent to us during our last trip -- to Turkey. One of our traveling companions had only travelers checks. Each time he needed money it was disruptive for everyone in the group. Our guide had to find a qualifying bank that was open for business; go through a complicated and lengthy process, requiring the services of a translator; -- while everyone else had to wait for him to complete this process before our tour could resume. The most memorable experience was sitting, hungry, in a double-parked bus for half an hour in crowded, bustling Istanbul, waiting for him to get his money before anyone on the tour could go eat lunch. After that we were more convinced than ever that travelers' checks are not the way to go.
We recently read an article about the ease of using ATM machines to get money around the world. Indeed it is nice to be able to get money through ATM machines when they are available, the exchange rate is the best that one can get except for using a credit card for purchases, and it simply makes it easier to manage money. However, there are some glitches with relying solely on ATM cards. Don't assume that you can find an ATM machine when you need one. You have to plan ahead. Also, make certain that you check with your bank to see what they will charge for the transaction. (Our bank charged $2.00 for each international transaction and we were not aware of that in advance.) We also found that we were unable to use ATM machines or our money cards for purchases in Australia or Japan during certain hours. When we tried to use our cards for transactions in those countries it coincided with the time that our bank was closed down each day for accounting purposes. However we didn't discover that until we returned home. Thus we were frustrated and worried during our trip when our cards were refused for transactions. We also got "bad" money from a bank ATM machine in Rome.
A caution regarding getting money through ATM machines.
Make certain you keep your receipts.
You never know when you will need them -- .
More on the topic of ATM machines:
In Rome they were plentiful but we heard more than a couple of stories where people were robbed shortly after they obtained money from ATM machines in Rome -- so be careful!! Our other memorable Rome ATM experience involved "bad" money. We were given "out of circulation" bills by a bank machine located within a major bank. We didn't discover that they were bad until we tried to use them for purchases and in fact were told by one person that they were counterfeit. When we returned them to the bank we were chewed out, told that it was impossible that we received them from their bank, and generally treated as if we were trying to get away with something. Eventually they exchanged them for good money. (We also received similar "bad" Italian currency through our bank at home prior to our trip.)
In Spain ATM machines were available in large cities and close to most of the hotels but for touring the countryside and traveling in smaller cities it was necessary to have cash. At one restaurant, fellow travelers had to borrow money from us when they discovered that there was no access to a money machine and the restaurant would not accept credit cards or travelers checks -- only cash.
In London we had no problem getting cash from ATM machines. However, we did get bad money (again that which was out of circulation) from an official exchange counter in a post office. We had to return to the counter to get good money after we found that we could not spend the money we had been given.
In Korea we found no ATM machines that would accept a foreign card (and we looked for them), although we know they are available in areas where there are more tourists or in areas where there are more expensive hotels. Since we were staying and traveling in less "touristy" areas, we were only able to get money at a bank with our Visa card through the help of our Korean friend. He interpreted for us and explained to the bank manager what we wanted. When traveling to the ancient city of Kyongju we had to have plenty of cash with us because we could not count on using a credit card, even for our hotel, and we assumed (rightly so) that no ATM machines would be available in the city.
Japan is still a cash society and it is vital that people know that before traveling. Whatever you do, don't assume that you will be able to find an ATM machine. We know of several in Tokyo but only one in the area around Shinjuku that will accept a foreign card. Throughout the almost month that we traveled around Japan we only found one other ATM machine where we could use our card. There are no ATM machines that accept a foreign card in Kofu, our second home, a city of about 200,000 people. We were shocked that in Kamakura, high on the list of tourist sites in Japan there seemed to be no place we could get money. And when we asked for help, we were advised to travel about half an hour or so by train to get to the closest ATM machine. In Nagoya, a modern city, and business center, with over 1 million people, we were informed that the only ATM machine that would accept foreign cards was at a department store near the train station. It was in a fairly remote location and we had to be escorted to it. None of the banks in the city accepted a foreign card. An aside here -- if you are going to Japan and will staying in a Hilton or some such place or will be spending most of your time in areas that are primarily populated by foreigners you will probably not experience the difficulties that we did with finding ATM machines.
UPDATE: We recently read an article about the possibility of the 7-Eleven stores in Japan getting ATM machines. However, notice that it would only be serving banks in Japan and would not accept cards from other countries.
UPDATE: (4/03/03) We recently received the following email from someone living in Japan:
I am living in Japan now (in Mie-ken near Nagoya), so I noticed something you may want to update.On the subject of ATMs. I, too, was shocked at not being able to withdraw money from my Canadian account from any ATM... but now postal bank ATMs (which are plentiful, even in small, rural towns) accept PLUS System and VISA banking/credit cards. If your card has this mark, it will work. Other than that, CitiBank ATMs are in every major (read: Nagoya, Osaka,
Tokyo, Hiroshima, Sapporo - perhaps more) city and will accept foreign cards. Japan is still very, very cash based and local and even national bank chains' ATMs never seem to accept foreign ATM cards... AdamAustralia was a different matter and ATM machines are plentiful and we generally had no trouble when using them. Our only problem occurred when we tried to use our cards in the late afternoon and were told that they were not acceptable. This forced us to charge some things that we had wanted to pay cash for. Upon returning from our trip we learned that this occurred because the ATM server was shut down during those "wee" hours back home.
Of course we had no problem with access to ATM machines in Hawaii or San Francisco.
In Russia we found only two operational ATM machines throughout our travels and needed cash in most places we traveled. Although rubles is the only legal currency that stores are supposed to accept many places prefer US dollars. In order to minimize embarrassment we tried to be discrete when asking each vendor which form of currency they would like. And we carried lots of one dollar bills for purchasing small items from vendors -- just as we had done in Vietnam, Thailand, Spain, Turkey and Italy.
Other experiences with looking for a bank machine include one Sunday afternoon in Austria where, very low on cash, and needing gas for our rental car, we looked for hours before finding an ATM machine that was open on a Sunday. A more amusing experience occurred in Hong Kong when Marie's friend decided to get a little money on our way to Australia and accidentally put in one too many zeros to get Hong Kong dollars. She ended up with plenty of money but had to exchange the money twice more, once in Australia and another time in Japan -- each time having to pay an additional fee for the transaction.
A general rule of thumb: We found it best to use our bank card for purchases whenever possible. It works the same way as a credit card and, therefore, you get the best exchange rate, there are no transaction fees, you don't have to carry as much cash, and you don't have to face a mounting charge card bill upon arriving home. A precaution -- most places in Japan would not accept our bank card for purchases although they would accept a credit card. (Still haven't figured that one out.)
Caution: Never carry your wallet in your back pocket. If you are carrying a backpack make certain that it is locked and that you are carrying it in front of you rather than on your back in areas where you know there are pickpockets or where theft is rife. And never carry much money in your wallet. A bra purse is great and a money belt is also good. Don't carry a handbag over your shoulder. A fanny pack is much better and when you walk it is easy to develop a habit of walking with your hands shielding your fanny pack. When sitting, eating or otherwise at rest, make certain that your bags, backpack, purse, etc. are attached to a part of your body -- with a leg or arm looped through, etc. These precautions saved us from being robbed several times when we had close calls in Rome and Spain and while various travel companions weren't nearly as fortunate.
We have never been victims of theft in our travels. Our closest call was in Rome when some young women chose us as a target and swarmed around us to snatch what they could from us, but we were able to protect ourselves. (The next day we witnessed their arrest.) And we have done some stupid things. In Vietnam we left a video camera in the car and again in a restaurant. Each time it was returned to us without incident. In Thailand we found that we had to be particularly cautious about guarding our belongings and not let them out of our sight. However, we did leave our luggage with a group of young tourism students because there was no place to store it safely at the rail station while we toured Ayuthaya for the day. We were exhausted and it was too cumbersome to lug around all day. Again we lucked out. The students were friendly and honest and our luggage was safe.
Overall, with a lot of planning, utilizing the precautions we have mentioned and some dumb luck, our worse rip-offs were some postcards that were stripped of their stamps and never mailed when we left them with clerks at hotels in Thailand and Turkey. Knock on wood .... and hope that our luck holds out!
Happy traveling. We hope that you found our meanderings useful and that you find many adventures and unexpected surprises along the road in your own journeys.
Godspeed !
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