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Planning and Protecting Your Financial Resources on Your Overseas Trip
By Vickie Manning, Pinnacle Franklin Area Executive

Whether traveling for business or pleasure, the best way to eliminate problems with available money is to be aware of the financial aspects before departing. Did you know that you will find better exchange rates overseas, rather than in the U.S.? Did you know that travelers are arrested in some countries for innocently exceeding the limit on their credit card? Here are some tips for your overseas travel.

Cash:

• Don't carry large amounts of cash. Either plan to use your ATM/debit card to get cash, or carry traveler's checks. For traveler's checks, be sure to record the serial number, denomination and the date and location of the issuing financial institution. Also, keep this information in a safe separate place, so you can quickly get replacements if you lose traveler's checks.

Foreign currency:

• Before leaving the U.S., you should purchase small amounts of foreign currency to use on buses, taxis, phone or tips when you first arrive unless you know that the country routinely accepts American dollars, e.g. Mexico. Keep the amount limited to get the more favorable exchange rate abroad. Use a financial institution that has an international presence.
• NOTE: Some countries regulate the amount of local currency you can bring in or take out of the country; others require that you exchange a minimum amount. For currency regulations, check with your financial advisor, your travel agent or the embassy of the countries you plan to visit.

ATMs/Credit cards:

• Automated Teller Machines (ATMs) are becoming increasingly popular abroad and offer the easiest and most economical way to replenish cash as you need it. Aside from convenience, you also get the local exchange rate when using ATMs in your vacation destination.
• Pinnacle clients should use an ATM that has an Interlink/VISA, Plus, Pulse or Cirrus symbol on the machine to obtain funds. There are literally thousands of these machines worldwide. The first screen on all of them gives you the option to do your transaction in English. You can locate VISA ATM's worldwide by going to http://www.usa.visa.com/personal/?it=il|/index.html|Personal and clicking on "ATM Locator."
• Take at least one internationally recognized card. Before you leave, find out what your limit is, and do not exceed it. In some countries, travelers who have exceeded their limit unknowingly have been arrested for fraud. Be sure you have your credit card numbers recorded somewhere other than your wallet or purse.
• Just as you would at home, immediately report any loss or theft of your credit cards or traveler's checks to the issuing financial institution and the local police.

Emergency funds:

• Keep the telephone number for your U.S. financial institution with you, just in case you need money transferred to you. In most countries, major financial institutions and certain travel agencies can help arrange a transfer of funds from your account to a foreign financial institution.

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