Travel Reference
In-Depth Information
Local Currency
For specifics about each country's currency and conversion rates please see the
“Money” sections in the individual country chapters.
No matter how prices are listed, most
establishments will accept payment in the
local currency and you'll get a more favor-
able conversion rate if you pay with local
cash. In addition, countries such as Bul-
garia and Romania are still a mostly
cash economy, so carrying local currency
there is a necessity. Note: Concessions in
most Eastern European airports usually
accept U.S. dollars and euros as well as
local currency, but it's always useful to
have the local currency on hand.
If prices in this topic are quoted in the
local currency, we provide the conversion
rate to U.S. dollars and British pounds; if
prices are quoted in euros, we provide the
conversion rate in U.S. dollars only. For
real-time exchange rates of any currency,
check www.xe.com/ucc or www.oanda.
com .
ATMs
In Eastern European cities, the easiest and
best way to get cash away from home is
from an ATM (automated teller machine),
commonly referred to as a “bancomat” in
Eastern Europe. The Cirrus ( & 800/
424-7787; www.mastercard.com) and
PLUS ( & 800/843-7587; www.visa.
com) networks span the globe; look at the
back of your bank card to see which net-
work you're on, then call or check online
for ATM locations at your destination.
Be sure you know your personal identifi-
cation number (PIN) and daily with-
drawal limit before you depart. Note:
Remember that many banks impose a fee
every time you use a card at another
bank's ATM, and that fee can be higher
for international transactions (up to $5 or
more) than for domestic ones (where
they're rarely more than $2). In addition,
the bank from which you withdraw cash
may charge its own fee. For international
withdrawal fees, ask your bank. Note: In
some rural areas, ATMs may not be avail-
able and/or reliable. This is especially true
in Bulgaria and Romania. For details,
please see the “Money” sections in the
individual country chapters.
CREDIT CARDS
Credit cards are another safe way to carry
money. They also provide a convenient
record of all your expenses, and they gen-
erally offer relatively good exchange rates.
You can withdraw cash advances from
your credit cards at banks or ATMs, pro-
vided you know your PIN. Keep in mind
that you'll pay interest from the moment
of your withdrawal, even if you pay your
monthly bills on time. Also, note that
many banks now assess a 1% to 3%
“transaction fee” on all charges you incur
abroad (whether you're using the local
currency or your native currency).
Visa, MasterCard, and Diners Club are
the cards commonly accepted in hotels
and upscale restaurants in the larger cities
of Eastern Europe. Establishments in
smaller towns and villages usually require
payment in cash, but even if they do
accept credit cards, they will often offer a
discount for cash payments.
TRAVELER'S CHECKS
You can buy traveler's checks at most
banks in the U.S. in denominations of
$20, $50, $100, $500, and sometimes
$1,000. Generally, you'll pay a service
charge ranging from 1% to 5%. However,
in most Eastern European countries where
mom-and-pop businesses thrive, cash is
king and traveler's checks aren't always
accepted. Even when they are, a service
fee is tacked on them, which makes them
a very expensive payment option.
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