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TIP #5 CHECK THIS: Traveler's checks are still great protection against loss or theft, but just about every place takes credit cards now and there are ATMs on every corner in the world. Credit cards do charge interest and you’ll want to make certain that your ATM and your pin work where you’re going. Often with credit cards you’ll end up with a better rate of exchange than if you would have cashed your checks in a bank. If you decide to use Traveler’s Checks, see if your bank, credit union or Auto Club sells them with no fee. Dollars are still the best bet for traveler’s checks. But a selection of denominations makes sense. Choose large check denominations for long visits in one country or big expenditures and small denominations for ease of cashing or short stays. TIP #6 MONEY CHANGING: Money is made by charging fees and also on the rate of exchange. Places with good rates often have high fees and places with low or no fees have poor rates. Good money changing establishments show both their buying and selling rates. Places showing only one rate are hiding the fact that it is a rate not in your favor! The fees are usually on each transaction, so if you find a place with a good rate, go ahead and get the cash you think you’ll need all at once. Take time to figure out the money. It will save you the embarrassment of being short changed or being treated like a child with his hand of change out for the store clerk to pick out the coins.
Don't change money in the U.S. before
you leave. The rates are poor, and there is always an exchange booth in
the passport area of the foreign country with better rates than at home.
TIP
#6 DUTY FREE SHOPPING:: In 1947 80% of transatlantic aircraft stopped to
refuel in Ireland, restaurant manager Brendan O-Regan opened a gift
counter at Shannon a new free-trade airport in County Claire.
Duty free shops are a world wide industry now with over $27
Billion in sales. The business was built on tobacco and liquor sales
since the elimination of taxes on these items (to be consumed outside
the country of purchase) can be 8 to 30%. Today the best savings are still on tobacco and
liquor (cheapest in Asia). Savings on other items is minimal. But there is an advantage of buying items not found at home. Always check the limits on duty free items with Customs and Border Protection (http://www.cbp.gov)
-- Andy Gilchrist
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