Honeymoon Tips: Everything You Need to Know About Foreign Currency

Honeymoons & Destination Weddings
foreign currency

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Before you jet-set, it's important to know how exactly you'll be paying for the luxurious travel, cocktails, meals and experiences that await you on your overseas honeymoon. Whether you've used dollars all your life, or are fairly accustomed to other currencies — check out our crash course in Foreign Currency 101.

Exchange Rates
This is a must — you have to know the current exchange rate as well as the strength of the US dollar in the country you are headed to. This will make calculations and comparisons simple, and accurate in your travels. While exchange rates fluctuate daily based on the international markets, it's best to get a general idea of what to expect. Knowing this ahead of time will help you be more prepared, and have a more accurate budget when it comes to spending.

Currency Exchange Booths
Nearly every international airport will have currency exchange booths (of various companies) for quick and convenient exchanges. While it may seem tempting and easy — often times the exchange rates are inflated, or the booths charge fees that are much higher than the current rate. Because of this, we recommend budgeting honeymooners head into their trips prepared. However, one of the benefits of these booths that other methods don't offer, is that some companies offer a rate-lock guarantee, so upon departure you can exchange the currency back for dollars at the rate you originally obtained. Do your research depending upon your destination.

Local Bank Orders
Head to your local bank and see if they can order currency for you — most larger corporate banks offer this service. It's important to do this in advance as it can take up to 7-10 business days. Also inquire about the fees, and the exchange rate they can offer you to help decide if this is the method you would like to use. If you do this, you will be traveling with large amounts of currency, which some couples may not feel comfortable doing, especially in an age where everyone is used to swiping (or inserting the chip — ugh!)

Credit Cards
Perhaps the safest method of payment overseas is via credit card. Use (or obtain) a card with no foreign transaction fees and you're in business. With the added security protection many cards provide (look these up or call your credit card company to verify — many have theft and travel insurance accommodations) you won't need to carry large amounts of money at all times. If lost or stolen, you can put an immediate stop on transactions, and that peace of mind can come in handy during international travel. Plus, as an added bonus, tons of cards offer travel perks and points to sweeten the deal even more.

Brush up on some local tax policies before you head on your honeymoon. For some, larger vacation purchases can end up being great deals if tax exemption is offered for tourists — depending on the exchange rate and currency, of course. Knowing ahead of time what tax situations apply can also help budgeting and enable you to make more informed purchases.

See More: 7 Smart Ways to Use Your Wedding Cash

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