How Do You Pay Internationally?
 

I'm just getting back to doing some more international trips. I'm curious how most guys approach paying internationally? I like to deal in cash, but the exchange at the airport is ridiculous.

I'm not keen on using my debit card (obviously), but what about your normal credit cards (I've got Capital 1's)? Do you use them or do you have a separate account (like a checking with a card) that you keep with a low account balance so if you get ripped off, you aren't hurt too bad?

Also, do you charge most stuff, or get cash from the overseas ATMs and use?

Any insight would be helpful.

I always used my Debit Card at the ATM's. Always used the normal precautions to protect my PIN number. Never had a problem.

I use my capital one for everything international. Check with your particular card but I don't think any of their cards have foreign transaction fees, I know mine doesn't. They just automatically apply the exchange rate at the time. They have a place when you log in on the website to report traveling abroad and the countries your going to, just do that and your card will work normally.

I do this, too. The exchange rate seems to be the best and as long as you use a safe location, you should be fine. I'd avoid street ATMs, though. Also, if I can afford to, I just take out a bigger chunk at once. the fee is the same if you take out 20 or 200 Euros. My check airman on OE told me that some guys get a separate account and just put a little cash in there for their trips. That way, if the card is compromised, it won't drain their account.

In Europe, I plan on just taking cash with me when I go out and a photo copy of my driver's license.

Also, if you do pay by credit card, a lot of places will ask you if you want your transaction in US dollars or local currency. Always do local currency because you don't know what kind of exchange rate the merchant is charging you!

The best way is to get a checking/debit account at a credit union or any other banking institution that doesn't charge for ATM transactions abroad and just transfer small amounts at a time and do ATM withdrawal, don't deal in cash with airport/hotel exchanges, they rape you! Any fraud will be limited to small amounts and the credit unions usually have fraud protection for free on their debit cards. But I have to say that in 8 years flying abroad I haven't experienced a single incident.

Find yourself a good "no international transaction fee" credit card. I carry an Amex and a Visa card since Amex isn't accepted everywhere. I try to keep all transaction on one card and the other as a back up.

ATM cards, try to find out if your bank has partner banks in whatever country you are traveling too. That way you can aviod the international service charges the banks will hit you with. Typical 1% plus $5. That can add up fast, trust me.

Money exchangers, esp in the airport, just plain out avoid them....pure ripoffs...they get you coming and going and then charge you a fee on top of that. Only place that I have seen that was half-way descent was in Japan.

10 years of long-haul flying will teach you what not to do.

I'll have to compare exchange rates, but I always carry some Canadian cash on me (only place I go to outside the States), and the exchange outfit at DCA waives fees when I present my company ID. I'm sure you can find similar privileges at other airports. It's just another POS transaction on my debit card, and I don't have to worry about paying foreign use fees or having a card get suspended for "suspicious" activity.

Also, cash transactions are much harder to trace, for anyone who might be a bit paranoid. I'm not - I am just an old school, old fart cash type of guy. :)

I carry an AmEx card.... and a debit card... I only use the debit card at BANK ATM's .... use cash for nearly everything I purchase abroad... I use the AMEX if I am running short or its a big purchase. Its not unusual for me to need 3-4 different currencies in a 17 day trip. I usually take out fairly large amounts of Euros and HKG Dollars the two I use the most. If not used in a given month.. it will get used eventually.

Cash, prepaid cards then credit cards in that order.

I rarely if ever use debit anywhere, especially intl, and only when its linked to a small balance account.

How Do You Pay Internationally?
 

Separate account with Wings Financial Credit Union - no intl fees. Use a local ATM, local cash