Local Currency Matters When Traveling Abroad: Be Prepared

When traveling abroad, Americans often rely on credit and debit cards to make purchases. However, this may not always be an option, especially in tourist destinations where local currency is preferred.

'Travelers don't need to choose between cash and cards,' said Louis-Philippe Roberge, Marketing Director at Exchange Corporation. 'The goal is simply to be prepared.'

Payment habits can vary greatly from one country to another. In Japan, Mexico, and many parts of Latin America and Southeast Asia, cash remains essential for everyday transactions. In contrast, cards are widely accepted in the UK, Scandinavia, Australia, and major European cities.

Even in highly digital destinations, having some local currency can still be useful. Cards can occasionally be declined due to fraud-prevention systems, merchant restrictions, or network connectivity issues. Cash doesn't require Wi-Fi, a charged phone, or a functioning payment terminal, making it a reliable way to pay when traveling.

Preparing for a trip by having some local currency before departure can save time and money. Instead of waiting until arrival to get local currency at an ATM, travelers can reserve foreign currency online through services like Click & Collect, which allows them to pick up their currency at participating U.S. airports before departure.