The Best ATM Card for Travel

Make use of an ATM when you travel. Carry no more foreign money than you absolutely require. When you run low visit another automatic teller machine.

At the same time, always have access to emergency funds (in U.S. dollars) however. An automatic teller machine may not be readily available or your card may not work in the country you are visiting. The latter happened to me recently when I spent several days in Uruguay. Yet my card worked fine in Argentina right across the river.

Locate automatic teller machines worldwide through the following websites:

Mastercard - www.mastercard.com/atm

Visa - www.visa.com/pd/atm/main.html

When you use a bank machine in a foreign country, the money in your bank account has been converted to the local currency. Do not be alarmed by this. The rate of conversion is the official exchange rate and is likely the best one you will receive anywhere.

The downside is:

1) That the amount of money you receive from each transaction varies with the exchange rate on a daily basis (unless the foreign currency is pegged to the U.S. dollar)

2) There will likely be a service charge from your own bank for completing each transaction (find out how much your bank charges before you depart)

To ensure that you can always access your money, have it in a checking account rather than a savings account. Some bank machines may not allow you to make a withdrawal from the latter.

Outside of the United States, automatic teller machines usually operate with a 4 digit “Personal Identification Number” (PIN). If your card operates on a 5 or 6 digit PIN at home, visit your bank and ask staff how to deal with this problem.

Always carry a photocopy of your card and the phone number of the card issuer with you as you travel (separately from where you keep your ATM card of course). If your card is lost or stolen, you can cancel it immediately.

After you return from your vacation, carefully review your bank statement. If you find anything of concern, contact your bank immediately.

Compare ATM fees at www.travelfinances.com . Use this information to choose the best card for you.

Chapter 11 of Turn Your Dream Vacation Into Reality: A Game Plan for Seeing the World the Way You Want to See It addresses bank machine use in greater detail.

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