Be smart with your cash
Most businesses in Portugal and across Europe accept credit cards, but you’ll need to carry some cash (Euros), too. Here are a few tips for managing your cash during your travels.
DON’T:
- Bring a bunch of dollars, yen, yuan, or whatever local currency to Europe. You can’t spend it here!
- Order Euros from your local bank unless you get a great exchange rate. (Check xe.com for up-to-the-minute rates.)
- Exchange your cash at an airport currency exchange. The house always wins!
DO:
- Before you travel, get a US bank account that will reimburse your ATM charges. (Charles Schwab Bank is used by many Americans in Europe.)
- Also, look for a credit card that gives a decent exchange rate for purchases in Euros.
- Get your Euros from an ATM when you arrive.
In Portugal, look for ATM’s with the “Multibanco” logo. They are part of a nationwide network. Otherwise, look for ATM’s affiliated with local or national banks.
AVOID AT ALL COSTS!
EuroNet ATM’s. Their service charges are outrageous! (They charged us €11 on a €50 withdrawal in Spain.)
Every nickle counts
Traveling abroad is an expensive activity. And little charges – like ATM fees or currency conversion charges – can add up. But by taking a few simple steps before and during your trip, you can avoid, or at least minimize, some of these extra costs.
You’ll want the money you save for your morning espresso in the padaria or that extra glass of vinho branco while watching the sunset.
Until next time / Até a próxima vez
Mary and Mike
The Cook and The Writer
How do you manage your cash when traveling abroad? Leave your tips in the comments below or via the Contact Us form. We’ll add them to the list and give you credit. (That’s “credit” as in “acknowledgement”, not “we’ll put money in your account”!)
