Travel Problem #1: Money

 My travels have been mostly good, but of course there are downsides, so I'm going to do a few posts about them, starting with money.

#1 Don't worry about the conversion rate, if you follow my advice, in this order: (a) use Western Union, (b) carry some US $100s to exchange and as a backup some $20s too, and (c) use ATMs.  

Western Union is a bit of a travel hack -- you can send money to yourself and pick it up anywhere in the country you're in, in the local currency, and at a reasonable rate (they encourage this).  Only once have I had a problem with WU, when a local office didn't have cash -- but the office a 10 minute walk away did.

$100 bills, especially the new ones with the plastic strips, are beloved by the local money changers, and you'll get the best rate.  They are also the best backup possible in case your other payment options don't work.

ATMs can suck my big money wad.  Of every ATM I've tried in South America, maybe 25% worked.  And if they *do* work, expect exorbitant fees, like $9 to get $25.  At one point, they will offer you a local exchange rate.  JUST SAY NO.  To repeat -- JUST SAY NO.  They're trying to charge you a rip-off rate.  You'll get charged a better rate if you refuse.


#2 Carry small change, if you can, especially in Colombia and Brazil. This is often exaggerated, and other than street vendors, with some differences from country to country, just about everywhere takes cards, although I haven't ventured outside of the larger cities.  Even little hole in the wall stores are card-friendly. Even if there's change difficulties, the merchant will find a way.  In some countries, like Argentina, you'll always get a discount for cash.


#3 Just so I'd stick to my budget, I brought along only one card, a debit card.  How do you spell "single point of failure?"

I used to panic when my card failed, until I learned some travel tricks.  Since then I've never had a failure, after jumping through some hoops.  (#1) if the card doesn't work by tapping, try inserting it in the slot (Colombia). (#2) if it doesn't work as debit, try credit. (Peru - débito, Chile - crédito).



So, my advice?  Don't bring just one card.  Get a debit card from Charles Schwab or Citibank, since they reimburse your ATM fees (I didn't know this).  Unless you're extremely paranoid about being robbed, slip a few crispy Benjamins and Jacksons into that pocket of your suitcase -- they will work anywhere as a last option.

Above all, DON'T PANIC, like I used to do.  Sometimes you have to jump through hoops, but in 4-1/2 months of travel, it's always worked out for me.


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