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  1. Top Travelling Tips

    24 Jul 2015
    Top Travelling Tips

    You’ve booked the flights and the hotels, bought some new shades and a spare pair of flipsflops – you are ready right? Not quite, as if you don’t want to be scammed out of yourmoney, or worse getting into trouble with the locals, then you are going to have to betravel-savvy with your money. Here at Guarantor My Loan we have done the research for you in order to give you the best advice on money matters in other countries.

    Cash or Card?
    If you use a debit or credit card in Europe for an ATM or shop transaction, you can pay ineuros and get your home bank to do the conversion for you, usually at the Visa/Mastercardexchange rate plus a 3% load – so for every £100 you spend, you spend an extra £3.
    However, if you have a cheap travel credit card that is load-free world wide, you will nothave these extra charges.  
    If you pay in pounds then you do not have to pay the load either, but this can be risky sincethe foreign bank or the store’s bank does the conversion for you, and they may give youbad rates.
    Therefore, we would recommend getting cash out before if possible, in order to avoid theseextra costs. However, if this is not possible, a cheap travel credit card is definitely the wayforward. Whatever you do, don’t get your cash at the airport! The rates are always bad,because they know you have no other option, and so you will not get value for your money.
     
    “Do you want to pay in pounds or Euros?”
    When in a store, and asked this question, always pay in local currency!
    If you are not paying in the local currency then the overseas store or bank is going to do theconversion for you, and undoubtedly the rates are not going to be in your favour!
     
    Tips on Tips
    It is vital to understand where is the right place to pay tips, and when it is not required. For
    example, Americans will be hugely offended if you do not leave a tip, and they won’t holdback in letting you know about it. Below we have written out the average tip for normalservices such as restaurants and bars. These are a general rule of thumb, but obviously youshould tip proportionately to the service provided.  
    Australia:  Not expected but 10-15% is appreciated, especially in more expensive restaurants.
    Brazil:   Not required.
    China:   Not customary except for tour guides ($5-10 per half day)
    Japan:   Tipping is uncommon and sometimes rude, except for tour guides like China.
    Mainland Europe:  15% service charge included in restaurants and bars. No more expected.
    South Africa:  10-20% in restaurants. Tour guides 10 to 15 rand per person per day.   Taxi drivers expect 10 per cent of the fare
    Thailand:  Not customary but tip at your discretionUnited Arab Emirates: Hospitality workers = low paid so tipping is hugely appreciated, eventhough not expected. 10-15% in restaurants, and just round up taxi fares.
    USA, Canada, Mexico, The Carribbean  Tipping is not mandatory, but strongly advised. They expect tipping to  be proportional to service given, such as a small tip for a buffet meal,   but if they are re-filling your glass for you then they will be expecting   at least 10% tip
     
     
    Protect Your Cash:
    Firstly, stash some emergency cash in a different location to where you keep the rest of your cash, just in case. Be sneaky about where you keep this cash, such as rolled up in dirty socks, under shoe inserts, or sewn behind a patch inside your bag. Try your best to avoid accessingthis cash unless in an emergency, as you never know when you might need it.
     
    Duty-free
    Duty-free can be the perfect place to splurge on tax-free items, such as alcohol, tobacco, and perfume! Click here for more information ! However, there is a limit to how much you areallowed to take home, and you will not be allowed on the plane with it – so find out beforeyou go buy the whole store!
     
    Shopaholics beware!
    Also, duty regulations can limit how much goods you are allowed to bring back If you buymore and gone through the red channel or been stopped in the green channel at customs,you may have to pay both duty and VAT on your purchases, adding up to 30 per cent to thecost of your shopping.
    Currently the limit is £390 outside of the EU, but this is subject to change. Shopping in an EUcountry is not a problem, as there is no limit to goods you can purchase.
    However HM Customs say that shopaholics are not their main targets, unless they arebuying obscene amounts for other people, since they are mainly targeting smugglers ofdrugs and contraband.