How to take money to Europe
So here you are after months, perhaps years of saving up your finally ready to go to Europe for a trip of a lifetime be it a couple of weeks or several months, the question on every first time backpackers lip’s is how do I carry it after all you can hardly just stuff a couple of thousand Euro’s in your pocket and set off. So how do you carry it?
Cash
Some people and travel sites would recommend you take enough currency for the first three or four country’s you pass through but in reality all you need is enough to get you by the 1st couple of days, so you don’t have to worry about exchanging or withdrawing money straight away. So enough for the first hostel’s accommodation and other expenses for the first few day’s should suffice.
+ Can use it as it is.
+ Easy to exchange for goods.
- Lose it your screwed, little chance of getting it back.
- Poor exchange rates when swapping it on the road for the next destination’s currency.
ATM/ Debit card
The ATM is the travellers best friend especially in somewhere like Europe where you cant move for the things. Easy to use and a great ways to carry your precious funds. Although remember to make sure you contact your bank to let them know you will be travelling as your card may be stopped for fraud reason’s. Also worth finding out if your bank will issue a spare card encase the first one break’s or is stolen, although very few do this so perhaps split funds between two different account’s that you could easily transfer money between.
+ Easy to use
+ Almost everywhere has ATM’s
+ Good exchange rate
+ Card is easy to carry
- Bank’s may charge a fee, so withdraw larger amount’s
- Lose your card or gets stolen, you wont be able to access your money
- Fraud happens, although rare and its not just Europe it happens be aware.
Credit card
The important thing to remember about credit cards is to remember it is credit the money is not actually yours, so watch out for big bills when you come home! Withdrawing cash from a credit card is usually a very expensive option as interest is charged at a very heavy rate. Credit cards are more secure that debit card’s and usually have greater protection on them. So good perhaps for big purchases or buying off the internet i.e. accommodation, hostelworld etc..
+ Greater fraud protection than Debit card
+ Good if you run low on funds
- Generally high interest on cash withdrawals
- Not everywhere will accept Credit card’s
Traveller’s Cheques
Once extremely popular with the traveller these have been widely overtaken by the ATM, Poor rate’s of exchange and lack of places to exchange them. Great back up option in case of emergencies. Also easy to cancel if stolen and get your money back. Just make sure these are not your main source of funds in Europe.
+ Good backup if you lose your main means of funding.
+ If stolen easy to cancel and get you money back.
- Poor rate of exchange
- Not widely accepted
- Carrying several around can be a nuisance and a hassle.
