UVM Study Abroad Pre-Departure Guidebook

Section 1 Before You Go:

Money and Banking

• Know the local currency and exchange rate. Learn to think in the foreign currency.
• Visit a currency exchange website in order to track the local currency trends. Some good sites are: http://www.xe.com/ucc/ or http://www.oanda.com/
• Create a sample budget for some extra personal expenses not covered in the program fee: money for going out at night, souvenirs, and other incidentals.
  

How to carry your Money:

• Don’t carry large amounts of cash. It is a good idea to change a small amount of money into foreign currency before you arrive in your host country.
• You can change money at any international airport; however, the exchange rates and fees are not the most favorable.
• You can carry the rest of your money in the form of traveler’s checks, credit cards, and/or debit cards.
  

Credit Cards/ATM Cards/Travel Cards:

• Be sure your credit card is usable abroad.
• Before you leave call your bank to inform them that you will be using your card abroad.
• Find out what fees will be associated with your international transactions.
• Get important phone numbers in case your card is lost or stolen.
• Fraud is widespread; only use ATM machines attached to banks.
• Check out the Visa Travel Money card
  • this is a re-loadable debit card that is accepted world-wide: http://usa.visa.com/personal/cards/prepaid/visa_travel_money.html

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