Bus Station Adventures

Cathedral Entrance
Originally uploaded by kden604.

This morning for lack of things to do, I decided to walk to the bus station. Tomorrow I will probably take a cab in the morning, just because I'm a bit lazy and taxi's are reasonably priced.

But this morning I met this elderly woman, I would estimate she was about 80 or so. She travels on her own quite a lot and was on her way to Latvia. She had some really major physical problems in terms of walking, stairs and spoke only broken english. She headed to the Bus Station around 10am by bus and tram to save money.

So I walked to the station, but left an hour later than her and when I arrived at the Eurolines office she was there having a dispute with the desk clerk. Eurolines only takes local Estonian currency not Euros. So she had to go to the currency exchanger just down the hall. However because she isn't the most technically inclined person she only uses travelers cheques and only had 10 euro in hard currency.

When I had finished purchasing my ticket I heard her disputing the rates with the exchanger at the Tallinn Bus Terminus. 10 Euro would be enough for her ticket if he was to give her 15 EKK to the Euro, which is the going rate in most of the city. But he was only giving out 12.5 or 13 EKK. This left her short of money with no way to get cash from a machine and no banks around, not to mention her bus was going to leave soon.

So I offered to just give her the difference she needed which was just a couple of euros, but she insisted that I just change the 10 euro bill at the "decent" rate of 15 EKK. Anyways, long story short I changed her money and made sure she got one the bus and she was very happy.

Now as for my ticket, I am going to Tartu Estonia tomorrow, it's about 4-5 hours on the bus and cost 140 EKK (8,95 EUR). I don't really know too much about Tartu, it's a university town and there is a 19 Euro a night hostel just near the bus station which I already confirmed my reservation.

ATM, Credit Cards and Travelers Cheques

Credit Card Bills
Originally uploaded by Snappy Larry.

Everyone worries about how much money (in cash) they should bring with them on their trip. Should you bring travelers cheques, use the ATM machine or just pay on a credit card. In this article I hope to give you some practical advice that will help you with your travel decisions.


How much local currency should I take?

Buying foreign currency in your country is probably very expensive in terms of exchange rate and bank fees. My advice is to take just enough for your transportation to your hotel, or none at all! I'll explain why shortly.


Credit Cards and ATM Machines

In all of my recent travels I have never found a major problem using my VISA or Mastercard in another country. Not to buy things at stores, but to use it as a cash source at an ATM machine. Personally I try to pay most things on my credit cards (mainly because I'm greedy and want to get points) and use cash for small items and street vendor food.

The first thing you need to do before you travel is to change all your PIN codes to four (4) digits. Many ATM machines in Europe and Asia will not accept five (5) or more numbers in your PIN code and it could leave you poor and penniless!

The next important step is to notify your bank or credit card company that you are traveling. Sometimes your card may get flagged as fraudulent use if you don't let them know. This is especially important when you are traveling to many countries over a short period of time. One quick and simple phone card could potentially save you from a major headache.

Personally I suggest pre-loading your credit card with money and withdraw cash from ATMs with it. Generally bank machines will give you excellent exchange rates when you withdraw in this fashion, however you must be aware of international transaction fees which could amount to $3-5 dollars or more per transaction! It's a good idea to talk to your bank and make a flat rate plan if you will be traveling for a long time. Alternatively you can withdraw larger sums of money to make the transaction fee less per dollar on average.


Travelers Cheques

To be honest I think travelers cheques have pretty much become obsolete in terms of global traveling. You still see the occasional person who carries them, but you have to find a bank or travel agent that accepts them and will give you a good rate for cashing them in. If you go to smaller travel agents or stores quite often they will want huge commissions to cash in your travelers cheques. It takes you more time and effort doing it this way that withdrawing by digital means through an ATM machine.


Cash and Hard Currency

If you are planning to travel and insist on bringing hard currencies, then the British Pound (GBP), American Dollar (USD) and the Euro are the ones to travel with. When you cash in money often you get better rates on higher denomination bills. That means if you give the exchanger a $100 note he will give you more per dollar for it than if you give him a $20 or $10. Avoid exchanging money at airports, bus depots, train stations and in major tourist centres, you'll save yourself some money if you find a bank or an money exchanger that is out of those areas.

Some countries you will find totes offering to exchange your currency on the street, sometimes this can be an excellent and convenient method of changing money at a good rate, but make sure you don't hand over the cash until he has counted out his end first and double check the money and the amount before you finish your transaction and watch out for obsolete currencies in Eastern Europe and developing countries.


Exchange Rates and Cashing Out

The best way to ensure you will get a good exchange rate is to check the prices on the Internet. The most common website used by most travelers is xe.com and it's wonderful universal currency converter. The rates are updated all the time and you can enter in any amount and switch it to over 75 different currencies.

When leaving a it's generally best to spend all the local currency you have in that country. Do your best to budget that by the time you arrive at the border you will have almost no money left. I know it is very difficult to exchange money from some countries outside of their neighbouring countries and even harder once you get back to Western Europe or North America.

Additionally some countries have strict rules about taking local currency money out of the country. If you try to cross the border they can either force you to exchange the money or in a worst case scenario try to confiscate it!


Enjoy your travels

Worrying about money and currency exchanging shouldn't play a big part in your vacation. Even if you don't get a good rate, you are still only talking about losing a few dollars. It's important to just have fun and enjoy your vacation. Currency exchanging seems confusing and trying to remember how to think in different currencies but after a while you just get used to it!