If your route lies to European countries that use a single currency, it is best to fill your wallet with euros. This currency is perfect for most European countries. To countries that have retained their national currencies and where you may need British pounds, Swiss francs, or Polish złoty, you can also travel with US dollars. The main thing is to ensure that when exchanging currency, the dollar exchange rate is favorable. Also, in all developed countries, you will be able to cash traveler's checks without any problems.
Foreign currency exchange and traveler's check cashing operations throughout Europe are carried out by authorized banks and official agencies during their regular business hours. Before these institutions open and after they close, currency can be exchanged at exchange offices in most major railway stations, airports, seaports, and at the border. Such offices usually stay open late, as well as on weekends and holidays; some are open 24 hours a day.
Currency exchange is also available on international trains and at some post offices. Money can also be exchanged in large hotels, travel agencies, and some department stores, but usually at a less favorable rate. When exchanging money, be sure to ask the cashier about the commission charged and carefully study the currency exchange rate board. If the commission, indicated in small print somewhere in the corner, is exorbitant, go look for another exchange office. You will spend a little time, but you can save a lot.
A credit card from a reputable bank will help you carry almost any amount across the border. Upon arrival at your destination, you can easily withdraw money from the nearest ATM (and in the local currency you need). Just do not forget that you will have to pay a bank commission fee for withdrawing money. To avoid problems with the card, notify your bank in advance about your departure and check your cash withdrawal limit. This will help remove restrictions on payments abroad – so that the bank does not block your card under the pretext of 'fraud prevention'.
As for traveler's checks, you should buy them in the currency that is used in the destination country. For example, for Europe – euros, for Britain – pounds sterling, for the USA – dollars. They can be exchanged for local currency at almost any bank; moreover, they can be used instead of cash in stores or restaurants. Change in this case is given in local currency. It is impossible to lose a traveler's check – it can be fully replaced in any country in the world within 24 hours. In case of loss, you just need to call customer support toll-free. And do not forget that cashing a check at a bank may incur a fee (about 5% of the amount).
In conclusion, experienced travelers never put all their eggs in one basket; they take only part of their money in cash on a trip. The rest they put on a bank card. And they also try to use up all small change before crossing the border back. After all, small change is often not exchanged back, and a few coins are enough for a souvenir.