Money Smart: Currency and Payment Tips for Travelling Abroad
Exchange rates and hidden fees cost travellers real money. Here's how to keep more of yours.
You've saved for the trip. The last thing you want is watching exchange rates eat your budget or credit card companies profit from your vacation. March travel season often brings good deals on flights, but fumbling currency decisions can wipe out those savings. A few smart moves before departure protect your money.
Exchange rates and timing
Currency markets move daily. If you're exchanging a significant sum, don't wait until the airport—rates there are worse. Use your bank's foreign exchange desk a few days before travel, or (better) use an ATM abroad to withdraw local cash at better rates. Credit cards used abroad often charge a conversion fee (2–3%); check with your bank what that fee is. For everyday spending, a mix is safest: some local cash, your debit card for ATM withdrawals, and a credit card for larger purchases and emergencies.
Payment methods and fees
- Notify your bank before travel so your card isn't blocked abroad
- ATMs usually offer better exchange rates than cash exchanges
- Avoid dynamic currency conversion at card terminals (choose local currency, not LKR conversion)
- Keep emergency cash separate from your main wallet
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