Rudy Maxa September 09, 2010 RudyMaxa.com

Ask Rudy

Question:

"Are ATMs still the best way to get cash abroad? "

Answer:

Yes, with a couple of caveats. Always carry two means of getting cash: your "regular" ATM card and a major credit card that allows you to withdraw cash. While most overseas ATMs take Cirrus and Plus network cards (the two major ATM networks in the US), some accept only one of these networks and some take none. I've had occasional trouble with my US ATM card in Europe. Being able to withdraw money from your credit card is a good hedge, as most ATMs will take Visa or MasterCard. You might also consider "overpaying" your balance, and you should always check your daily limits on your credit cards (as well as ATM cards). And lastly, know what the exchange rate is before leaving so you can do some quick math at the end of the day to see how much you've actually withdrawn in US dollars. Lots of Internet sites (including AOL and Yahoo) have foreign-currency exchange calculators. If you remember your PIN code in letters, be aware that some overseas phones display only numerals, and plan accordingly.



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