I definitely recommend doing the currency exchange (via ATM) when you get to Europe. Also, you may want to get a debit card that reimburses your ATM fees while abroad and a credit with no foreign transaction fees. Here are a couple of our videos that might be helpful: 😊 Charles Schwab Debit Card ⇨ ua-cam.com/video/OCTv-NHoPow/v-deo.html Pay in Local Currency When Using Your Credit Card ⇨ ua-cam.com/video/vx03PiX7e6w/v-deo.html
Your best bet is to try your local bank. They will usually convert common currencies into US dollars. It's the less common currencies that are more difficult to exchange. If all else fails, then you can go to an exchange store or booth, though you just have to know that you're not getting a favorable exchange rate. In most cases, I recommend holding on to the currency in case you go there again. Otherwise, if you have no plans to travel to that destination again, it's probably worth exchanging it at the booth. Hope that's helpful! 😊
You'll definitely want to work with the bank on that one. Even if you have the funds, ATMs usually have a limit for withdrawal. If you're buying a house, they'll likely ask for a wire transfer.
When traveling internationally (say to the UK), does the credit card automatically pay in the local currency? Or would I need to call the bank and ask them to switch my card to pounds?
Yeah, there's always a part of me that's a bit wary when using the hotel safe. When I was in Cambodia, my safe wouldn't open, and when I asked the front desk, they gave me some master code to use. It definitely reduced my confidence in using it. Luckily, I packed my portable PacSafe Travelsafe, which worked great! 😊
I've heard of horror stories from Prague. I remember watching a UA-cam video as well about how currency exchange is often used to scam tourists visiting the country too. 😬
Yes, that happened to me once when I was traveling in France! My card got stuck in the ATM. Luckily, it was at a major bank's ATM, so I was able to find a bank worker nearby who could help out. It's definitely a risk, so I recommend that folks use ATMs from larger banks and in safe locations.
Got you so as long as it a large known bank then best to use their ATM. Also how long does it take to transfer money from my credit union to my Schwab account? I'm going to Thailand & the Philippines next month.
I think the initial transfer took one week, but after that, it only takes a few business days to clear. Southeast Asia is awesome. Hope you have a great trip! 😎
Oh now I see how it works, still not to bad. Thanks man & I believe i have best 2 weeks of my life, gonna film it on my channel to. Where you been to in Southeast Asia?
From my experience visiting many countries in Asia, the ATM exchange rate is NOT the best. The airport exchange rate is also unfavorable. The best thing is to go to an ATM and check what the exchange rate is, but not withdraw anything. Then roam around the city you're visiting and stop by exchange shops to see what their rates are so you can compare. This guy's advice is not the best.
I guess it depends on how much time you want to spend searching for the best rate. As long as I am getting better than airport exchange counters, I am happy. Though there are probably ways to find a better rate if you have the time.
Sorry, this was one of my earlier videos on UA-cam. And to be honest, I get told all the time that I speak too fast in my videos, so I can’t seem to win. 😞
FYI, it's difficult to use ATM machines in the Middle East, both because of language and availability.
Good to know! Thanks for sharing. 👍
Will try this next year when hopefully traveling abroad would be safer.
Cool! Hope we all get to travel again soon. I'm optimistic that 2021 will be a better year. 👍
Oh hey, didn't see you there! 🤣
Beautiful intro and thanks so much for the tips
Thanks! Glad the video was helpful. 👍
Thank you, very useful information.
Glad it was helpful! 😊
I’m going to Barcelona, Rome, Paris, and London. Should exchange my cash in the US or in Europe?
I definitely recommend doing the currency exchange (via ATM) when you get to Europe. Also, you may want to get a debit card that reimburses your ATM fees while abroad and a credit with no foreign transaction fees.
Here are a couple of our videos that might be helpful: 😊
Charles Schwab Debit Card ⇨ ua-cam.com/video/OCTv-NHoPow/v-deo.html
Pay in Local Currency When Using Your Credit Card ⇨ ua-cam.com/video/vx03PiX7e6w/v-deo.html
I'm glad you asked, this was my question too.
Do you know were i can change money from other countries becuz i have mone from Canada and china and i wuna exchange it for America money.
Your best bet is to try your local bank. They will usually convert common currencies into US dollars. It's the less common currencies that are more difficult to exchange.
If all else fails, then you can go to an exchange store or booth, though you just have to know that you're not getting a favorable exchange rate. In most cases, I recommend holding on to the currency in case you go there again. Otherwise, if you have no plans to travel to that destination again, it's probably worth exchanging it at the booth.
Hope that's helpful! 😊
What if I want to buy / withdraw a high amount of money, such as for buying a house? What's the best options I have?
You'll definitely want to work with the bank on that one. Even if you have the funds, ATMs usually have a limit for withdrawal. If you're buying a house, they'll likely ask for a wire transfer.
@@TripAstute Thank you!
When traveling internationally (say to the UK), does the credit card automatically pay in the local currency? Or would I need to call the bank and ask them to switch my card to pounds?
It should automatically process in the local currency. 😎
Avoid converting money in an airport.
The rate is always unfavorable and there are fees!
Very true! 👍
Hotel safes are NOT safe. The hotel employees have a master code and key and they can open your safe any time.
Yeah, there's always a part of me that's a bit wary when using the hotel safe. When I was in Cambodia, my safe wouldn't open, and when I asked the front desk, they gave me some master code to use. It definitely reduced my confidence in using it. Luckily, I packed my portable PacSafe Travelsafe, which worked great! 😊
Don’t use the ATM at Prague. Don’t.
I've heard of horror stories from Prague. I remember watching a UA-cam video as well about how currency exchange is often used to scam tourists visiting the country too. 😬
🤣🤣🤣
. 💰 👌
Thanks Sandy. Glad the video was helpful! 😀
What about ATM in foreign country that take or eat your card, how you get around that?
Yes, that happened to me once when I was traveling in France! My card got stuck in the ATM. Luckily, it was at a major bank's ATM, so I was able to find a bank worker nearby who could help out. It's definitely a risk, so I recommend that folks use ATMs from larger banks and in safe locations.
Got you so as long as it a large known bank then best to use their ATM.
Also how long does it take to transfer money from my credit union to my Schwab account?
I'm going to Thailand & the Philippines next month.
I think the initial transfer took one week, but after that, it only takes a few business days to clear.
Southeast Asia is awesome. Hope you have a great trip! 😎
Oh now I see how it works, still not to bad.
Thanks man & I believe i have best 2 weeks of my life, gonna film it on my channel to.
Where you been to in Southeast Asia?
Cool! I took a trip last year to Thailand, Cambodia, and Vietnam. I haven't been to the Philippines yet, but it looks incredible too.
From my experience visiting many countries in Asia, the ATM exchange rate is NOT the best. The airport exchange rate is also unfavorable. The best thing is to go to an ATM and check what the exchange rate is, but not withdraw anything. Then roam around the city you're visiting and stop by exchange shops to see what their rates are so you can compare. This guy's advice is not the best.
I guess it depends on how much time you want to spend searching for the best rate. As long as I am getting better than airport exchange counters, I am happy. Though there are probably ways to find a better rate if you have the time.
Yer I check the exchange rate at the atm bro ausse pete best place are money exchange mate simply simply
Why does he talk so slow?
Sorry, this was one of my earlier videos on UA-cam. And to be honest, I get told all the time that I speak too fast in my videos, so I can’t seem to win. 😞
This is normal talking... unlike the common spazzy speed talking you're used to by most young youtubers.