For reliability, take with you on a trip not only cash but also credit cards and checks
So, Schengen visa in passport, tickets in hand – it seems everything is ready for the trip. It's time to think about the financial issue.
The most common and simple option is cash, and in foreign currency (dollars, euros, national currency of the country of intended stay). Do not try to exchange all money at the first exchange office you come across – take the time to look for options: the rates may differ dramatically, and not in favor of the first option. Exchange currency only when you see expenses – if at the end of the trip you have a considerable amount of national currency left, you will lose money on the exchange rate difference in 100 percent of cases. Another disadvantage of cash is the limited amount that can be taken abroad.
What other payment documents are there? For example, hotel vouchers. Such vouchers confirm the booking and payment for the hotel (by advance money transfer), so you no longer need to bring cash to pay for the hotel, since the required amount has already been transferred to the account of the chosen hotel. Usually such hotel vouchers are issued by travel agencies. If you are traveling independently, you can also, if you wish, pay the entire accommodation amount in advance by transferring money from a plastic card.
Another type of non-cash currency is traveler's checks. Traveler's checks are an obligation to pay the amount indicated on it to the person whose signature is on it. This means that when the holder of such checks wants to use them, he will have to sign the check again – only then will the traveler's check be paid. Traveler's checks are issued by commercial banks and other financial and credit institutions.
In essence, traveler's checks are very similar to regular banknotes, but in addition to basic security features, they have one main undeniable advantage – in case of theft, an attacker is unlikely to be able to use them, and their value will be fully reimbursed to you. Traveler's checks are accepted in more than 150 countries worldwide (including the Schengen area).
The main advantage of traveler's checks over cash, as already mentioned above, stems from the fact that no one except the owner of the check can use them – the check must have two signatures of its holder. The first time the owner signs when purchasing the check at the bank, the second time when paying for services or goods. The seller's duty is to verify the authenticity of the second signature, which is made in his presence. If the seller for some reason doubts the authenticity of the second signature, he has the right to request additional documents confirming the buyer's identity – such as a passport, driver's license, or check purchase agreement.
The inconvenience of traveler's checks is that they are not accepted everywhere and in all countries. Therefore, when preparing for a trip, it is advisable to divide your finances: a little cash, some checks, a voucher. This way you increase the chance of not getting into some unpleasant financial situation.
_