Real Travel Money Mishaps (and How to Avoid Them)
07/03/25
Travelling is one of the most exhilarating experiences, filled with new sights, cultures, and adventures. However, when it comes to managing travel money, even seasoned travellers can run into a few mishaps. Learning from real-life stories can help you avoid common mistakes and make sure you have a smooth financial experience on your next trip. Here are some tales of travel money troubles and how we would avoid them!
1. The Vanishing ATM Card
Story: Sarah was excited about her solo trip to Italy. On her second day, she went to withdraw cash from an ATM. After entering her PIN, the machine made some noise but didn’t dispense any cash. Worse, it didn’t return her card! With no cash on hand and no card, she was stranded.
How to Avoid It: Always have a backup plan. Carry more than one form of travel money just in case one gets lost or stolen. Keep your bank's emergency contact information handy and know how to quickly report and replace a lost or stolen card. Using ATMs inside banks during business hours lets you have immediate assistance if something goes wrong. Plus sometimes helps save on extra exchange rate fees.
2) The Dynamic Currency Conversion Trap
Story: John was in Thailand and paid for a hotel with his credit card. The terminal asked if he wanted to be charged in his home currency, which he thought was convenient. He later discovered he paid much more due to poor exchange rates and high conversion fees.
How to Avoid It: Always choose to pay in the local currency when given the option. Dynamic Currency Conversion (DCC) often comes with unfavourable exchange rates and hidden fees. Familiarise yourself with this practice to avoid costly surprises.
3) The Hidden Foreign Transaction Fees
Story: Emma was enjoying her holiday in Japan and used her credit card for most purchases. She didn’t realise her card charged a 3% foreign transaction fee on every purchase. When she got home, her bill was much higher than expected.
How to Avoid It: Before travelling, check if your credit card charges foreign transaction fees. If it does, consider applying for a travel-friendly card that doesn’t charge these fees. Many banks offer no-foreign-transaction-fee cards specifically designed for travellers. Or better yet, look into a pre-paid travel currency card. We have a Hays Travel Money Card that could be perfect for you!
4) The Pickpocket Incident
Story: Mark was on a crowded train in Paris when he felt a light touch on his pocket. By the time he reacted, his wallet was gone. With his cash, cards, and ID stolen, his trip turned into a nightmare.
How to Avoid It: The chances of being pickpocketed on holiday are low. But it’s always better to be safe. Stay vigilant in crowded areas and tourist hotspots especially. A money belt or hidden pouch is a great way to store valuable items securely. Keep some emergency cash or an extra card in the hotel safe.
5) The Overlooked Currency Exchange Rates
Story: Lisa exchanged a large sum of money at the airport, thinking it was the most convenient option. She later found out the exchange rate was significantly worse than what she could have gotten at a local bank or using her credit card.
How to Avoid It: Avoid exchanging large amounts of money at airports, where rates are typically the worst. Research the best places to exchange currency in advance.
Travel money mishaps can quickly turn a dream getaway into a stressful experience. By learning from these real-life stories and taking proactive steps, you can overcome easily avoidable mistakes and ensure your travels go off without a hitch. If you ever need any travel money advice, pop into your local Hays Travel branch. We’d be happy to help!