BB Fact Sheet – Travel – Money & Exchange Rates

Covering yourself before you go 

• Your Holiday is important and so is your Money.

• Take a moment to consider how your Money may impact your trip, and take into consideration factors such as personal safety, weight & bulk, exchange rates, credit cards not being accepted/not working, daily budgets & payment of larger bills such as accommodation.

• Discuss your likely needs with your Travel Agent, or seek information about specifics such as budgeting & available money products via phone or the internet. Enquire about updating your banking details if required, and what insurance you can take out to cover you here or overseas.

• Find out what you can do to improve your chances of limiting loss due to theft while on holiday. Consider making a checklist of things to do in the event of loss, and make sure you carry your Banking Contact details with you.

What can I do?   

• Organise a variety of ways of accessing your money overseas, such as credit cards, travelers' cheques and cash.

• Make a list of all your expected expenses, and how you wish to pay for them, making sure you have a daily cash allowance, and enough for emergencies, or if you lose your travelers cheques/credit cards, or they aren’t accepted/don’t work.

• Check with your bank whether your current ATM cards will work overseas.

• Check daily rates at your bank for the best time to purchase travelers cheques, or money in other currencies. If you are purchasing a large amount, or want specific denominations, phone your foreign exchange branch prior to going in (they don’t always have exactly what you want on hand).

• Make two copies of valuable documents such as your passport, tickets, visas and travelers' cheques. Keep one copy with you in a separate place to the original and leave another copy with someone at home.

• Pack your Concession Card - it might not work overseas, but it is worth taking with you just in case. 

Reserve Bank of Australia Exchange Rate -  02 9551 8427

Reserve Bank (toll free) -  1800 300 288

Reserve Bank of Australia - http://www.rba.gov.au/





Reserve Bank of Australia Daily Rates - http://www.rba.gov.au/Statistics/exchange_rates.html



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This article was created by Elisabeth Watkins for babyboomers.com.au - Australia's leading website for Baby Boomers. Sources include the Australian Government  Department of Foreign Affairs and Trade & www.smarttraveller.gov.au.

Babyboomers.com.au is a resource to help people find information and services on Health, Money, Travel, Recreation.

Disclaimer: The information contained in this section should not be used for individual financial advice. Please see your Bank or Financial Advisor if you have concerns or specific questions relating to your money.

Copyright 2009 Babyboomers Pty Ltd. All rights Reserved.