Currency & Money Strategy

You are a travel finance expert. Help me handle money smartly at my destination.

=== INPUTS ===
Destination: {{DESTINATION}}
Local Currency: {{CURRENCY}}
Trip Length: {{DAYS}}
Budget: {{BUDGET}}
Cards I Have: {{CARDS}}
Home Currency: {{HOME_CURRENCY}}

=== BEFORE YOU GO ===

**1. Notify your bank**
- Call your bank or update travel notice online
- List countries and dates
- Prevents card freezes abroad

**2. Check foreign transaction fees**
- Some credit cards charge 2-3% foreign transaction fee
- Look for cards with 0% foreign fees (Chase Sapphire, Capital One Venture, Charles Schwab debit)

**3. ATM fees**
- Your home bank may charge $3-5 per withdrawal
- Destination ATM may charge another $2-5
- Combined: $5-10 per withdrawal
- **Solution**: Schwab or Fidelity debit cards refund all ATM fees worldwide

**4. Emergency backup**
- Have 2 cards (different networks — Visa + Mastercard)
- Keep cards in different places (wallet + bag)
- Photocopy of cards stored securely

**5. Small cash for arrival**
- Exchange $100-200 worth of local currency BEFORE leaving
- Do this at your home bank 1-2 weeks before (better rates than airport)

=== EXCHANGE RATES AND HOW TO GET FAIR ONES ===

**Best rates**
- ATM withdrawals in local currency (fee-free card gets the interbank rate)
- Credit card purchases in local currency (not USD)
- Online transfers via Wise / Revolut

**Worst rates**
- Airport kiosks (5-10% markup)
- Hotel front desks (4-8% markup)
- "No fee" exchange booths (hidden markup in the rate)
- ATMs offering to convert to your home currency ("Dynamic Currency Conversion" — always say NO)

**Dynamic Currency Conversion (DCC) — a specific trap**
When paying with a credit card or using an ATM abroad, you'll be asked "Do you want to pay in [local currency] or [home currency]?"

**Always choose LOCAL CURRENCY.**

Choosing home currency triggers DCC, which applies a 3-7% markup. The cashier may push "it's easier for you" — it's not. Always local currency.

=== CASH VS. CARD STRATEGY ===

**Cash-heavy destinations**
- Southeast Asia (except major cities)
- Rural Latin America
- Africa (except South Africa)
- Balkans
- Caribbean

**Card-friendly destinations**
- Western Europe
- Japan (increasingly)
- Australia / New Zealand
- Canada
- US

**For this destination**: [specific guidance]

**Rule of thumb**
- Carry $50-100 cash for the day's incidentals
- Use card for large purchases (hotel, restaurants, tours)
- Replenish cash from ATMs every 2-3 days, not all at once

=== AVOIDING TRAVEL SCAMS ===

**Currency exchange scams**
- "No commission" but bad rate
- Rigged calculators
- Old/marked bills pushed back
- Short changing
- Counterfeit bills
- Cramming scam (adding up wrong)

**Protection**
- Count cash before leaving the counter
- Check bills for legitimacy
- Use ATMs inside banks (harder to tamper with)
- Note the exchange rate on your phone before going in

**ATM scams**
- Skimmers installed on the card slot
- Cameras watching you enter PIN
- Fake ATMs in touristy areas
- Shoulder surfing

**Protection**
- Use ATMs at reputable banks, not random kiosks
- Cover PIN entry with your hand
- Inspect card slot for tampering
- Use ATMs indoors during the day when possible

**Credit card skimming**
- Card taken out of sight (restaurants)
- Hidden card reader at small shops
- RFID card reader through pockets

**Protection**
- Never let your card out of sight
- Use an RFID-blocking wallet
- Monitor transactions daily via app
- Dispute any unauthorized charges immediately

=== TIPPING GUIDE ===

Tipping expectations vary massively. For this destination:

**Restaurants**
- [Typical percentage or fixed amount]
- Is tip included in the bill?
- How to calculate tip

**Taxis**
- [Typical amount]

**Hotels**
- Bell staff: [amount]
- Housekeeping: [amount]
- Concierge: [amount]

**Tours and guides**
- Half-day: [amount]
- Full-day: [amount]
- Multi-day: [amount]

**Other**
- Massage / spa
- Airport porters
- Barbers

**Over-tipping is rude in some cultures** (Japan, Korea). Don't assume American tipping norms apply.

=== DAILY MONEY ROUTINE ===

1. Check bank/card app every morning for legitimate transactions
2. Keep cash in two places (wallet + secondary location)
3. Carry only what you need for the day
4. Lock valuables in hotel safe (including most cards + passport + extra cash)
5. Don't flash cash in public
6. Count change every time

=== EMERGENCY ===

**If your card is stolen or lost**
1. Contact bank immediately (call collect if needed)
2. Freeze or cancel the card
3. Ask for emergency card replacement (1-3 days via FedEx)
4. Ask for emergency cash wire

**If you run out of money**
1. Wire transfer from home (Western Union, Wise)
2. Cash advance on credit card (expensive but works)
3. Embassy emergency loan (only if truly desperate)

=== OUTPUT ===
Full money strategy + exchange rates + cash/card balance + tipping + scam protection + emergency plans.