Money Issues
Some countries in the world do not accept Australian dollars, so why take a whole bunch of cash with you only to find out that when you go to exchange it, they won’t accept it? Not a great start to your holiday. Do some research ahead of time and make sure that you can exchange your Australian dollars for their local currency. If not, take some US dollars with you, almost all countries will accept this.
Also, have a chat to your bank about what fees you will be charged whilst overseas. This includes paying using your credit card on the internet. Displaying prices in Australian dollars does not mean that your bank will not charge you some sort of international currency conversion fee. Many people don’t realise until 2 – 3 weeks after they get back from holidays that their bank has charged them hundreds of dollars in currency conversion fees, overseas ATM fees, international EFTPOS fees etc. Sometimes it can be up to 7% of what you actually spent, so if you spent $5000 on your credit card, you may be charged up to $350 in fees from your bank. Have a chat to your bank today about alternative products that they can offer you whilst travelling so you can spend with peace of mind knowing how much it REALLY costs you.