One of the questions we are asked most frequently is how much cash travellers should bring and how they should access money while abroad. Fortunately, managing money during your travels is easier today than ever before.
In most destinations featured on Laurus Travel tours, visitors can withdraw local currency from ATMs, use credit cards for major purchases, and exchange money if necessary. With a little preparation before departure, you can travel confidently without carrying large amounts of cash.
Before You Leave
Before departing, we recommend contacting your bank and credit card providers to inform them of your travel plans. This helps prevent legitimate overseas transactions from being flagged as suspicious activity.
It is also a good idea to verify that your debit card will work internationally and to familiarize yourself with any foreign transaction or ATM withdrawal fees that may apply. Many financial institutions now offer travel-friendly cards with reduced fees and competitive exchange rates.
As a precaution, consider carrying more than one payment method. A combination of a credit card, debit card, and a small amount of emergency cash provides flexibility should one option become temporarily unavailable.
Accessing Cash
For most travellers, withdrawing local currency from an ATM is the simplest and most convenient solution. ATMs are widely available in major cities, airports, transportation hubs, and tourist areas throughout Asia.
ATM exchange rates are generally competitive and often compare favourably to rates offered by exchange counters. However, fees vary by bank, so it is worth checking with your financial institution before departure.
While ATMs are readily available in urban areas, travellers should carry sufficient cash when visiting remote regions where banking services may be limited.
Currency Exchange
There is generally no need to obtain large amounts of foreign currency before departure. In many cases, exchange rates available in your destination are as good as—or better than—those available at home.
Banks and reputable exchange services typically offer the best rates. Airport exchange counters are convenient but may charge higher fees or provide less favourable rates.
If you choose to exchange cash during your travels, compare rates whenever possible and avoid carrying more cash than necessary.
Credit Cards
Credit cards are widely accepted throughout much of Asia, particularly in hotels, restaurants, shopping centres, and larger businesses. Visa and Mastercard are generally the most widely accepted cards.
However, cash remains important in some destinations and for smaller purchases. Local markets, family-run restaurants, taxis, and rural establishments may not accept credit cards.
For this reason, we recommend carrying a modest amount of local currency at all times.
Japan
Japan has become increasingly cashless in recent years, but cash remains more commonly used than in many Western countries. While credit cards are widely accepted in hotels, department stores, and major restaurants, smaller businesses may still prefer cash.
International bank cards can be used at many ATMs, particularly those located in convenience stores, post offices, airports, and major transportation centres.
We recommend carrying some cash while travelling in Japan, especially when visiting smaller towns and rural areas.
For Canadian Travellers
Canadian travellers who prefer to carry some cash for emergencies may find it useful to bring a modest amount of U.S. currency. U.S. dollars are widely recognized and are often easier to exchange in many destinations than Canadian dollars.
That said, advances in banking technology have made this less important than it once was. Most travellers today rely primarily on credit cards and ATM withdrawals rather than exchanging large amounts of cash.
Currencies Used on Our Tours
- Cambodia — Cambodian Riel (KHR)
- China — Renminbi Yuan (RMB)
- Hong Kong — Hong Kong Dollar (HKD)
- India — Indian Rupee (INR)
- Japan — Japanese Yen (JPY)
- Laos — Lao Kip (LAK)
- Myanmar — Burmese Kyat (MMK)
- Singapore — Singapore Dollar (SGD)
- South Korea — Korean Won (KRW)
- Taiwan — New Taiwan Dollar (TWD)
- Thailand — Thai Baht (THB)
- Vietnam — Vietnamese Dong (VND)
Our Advice
Most travellers find that a combination of a credit card for major purchases, a debit card for ATM withdrawals, and a small amount of cash for incidental expenses works extremely well.
There is no need to overcomplicate money matters while travelling. With sensible preparation and access to multiple payment methods, you can focus on enjoying your journey rather than worrying about currency exchange and banking logistics.
