Unused currency
Oct 5, 2012 | 7:55 pm
#1
Original Poster
Join Date: Mar 2008
Posts: 677
Unused currency
In your final days in a country you know you are not going to revisit anytime soon do you try to limit the amount of cash you have on you or do you not care about converting large sums of unused cash and incurring the loss? I have seen some pretty hefty margins at airports which could amount to quite a bit being lost to commissions.
Oct 5, 2012 | 8:05 pm
#2
Join Date: May 2000
Location: IAD/DCA/BWI
Programs: SQ, LH, AMEX, Citi, Cap1
Posts: 4,113
Yes. It's easy to do by using ATMs. Towards the end, I withdraw lesser amounts just to cover what's needed. If there's still a lot of money left, I use it to pay for my hotel instead of my credit card and/or taxi to the airport.
Oct 5, 2012 | 8:06 pm
#3
In Memoriam
Join Date: Feb 2000
Location: Easton, CT, USA
Programs: ua prem exec, Former hilton diamond
Posts: 31,801
You use it before you get to the airport. Pay down the hotel bill, whatever. There's no reason to show up with a large amount of money left to convert.
Oct 5, 2012 | 8:07 pm
#4
Join Date: May 2008
Location: Oakland
Programs: Free Agent
Posts: 1,109
I think you would of course limit the currency that you have on hand. I personally keep about $15 worth of whatever the currency is (one of each bill and coin and the best bills that I encounter). I recall some people recommending using the last of your cash to pay for your hotel (with a credit card for the difference) as a good way to get rid of cash.
Oct 5, 2012 | 8:31 pm
#5
Join Date: Sep 2010
Location: Canadia
Programs: A loyal Amerisuites customer... oh wait
Posts: 2,037
A couple we met on a cruise keep foreign currency to use as tips on cruises. Allegedly, crew will be able to use that currency in the future somewhere or trade with other crew. Not sure about that.
But, yeah, pay down the hotel bill first.
Has anyone tried buying prepaid Visa or MC cards in local currency?
But, yeah, pay down the hotel bill first.
Has anyone tried buying prepaid Visa or MC cards in local currency?
Oct 5, 2012 | 8:46 pm
#6
Join Date: Dec 2010
Location: Indianapolis
Programs: Hilton-Diamond Lifetime Platinum AA UA, WN-CP, SPG Gold.
Posts: 7,385
One thing about all countries paper money they are like IOU's and worth less every day...
Ever look at the US Dollar...it takes twice as may to fill the same gas tank as 3 years ago..Be glad when the Gold Standard gets here...
Ever look at the US Dollar...it takes twice as may to fill the same gas tank as 3 years ago..Be glad when the Gold Standard gets here...
Oct 5, 2012 | 9:19 pm
#7
Join Date: Sep 2012
Location: Hong Kong
Programs: United, Cathay, Delta, Priority Pass (gold), SPG
Posts: 100
Unused currency
If you are not going to come back anytime soon.. Say in the next 10 years then there is really no choice... You may as well pay the high cost but get some real money back. Obviously try not to have too much left over.
Oct 5, 2012 | 11:23 pm
#8
Original Poster
Join Date: Mar 2008
Posts: 677
I am at Pudong airport and they charge $8 transaction fee plus 15% lower rate which is a surprise to me... everything here at Pudong airport is laughably expensive even by aiport standards, $15 for a pint of Tsing Tao draft... cmon now. Fortunately got rid of all my spare cash at a bank downtown for a decent rate and no fees.
Oct 6, 2012 | 7:57 am
#9
Join Date: Sep 2010
Location: Canadia
Programs: A loyal Amerisuites customer... oh wait
Posts: 2,037
Americans come up with the funniest schemes on how to "save" the economy instead of just paying taxes. You guys would have a much stronger dollar if taxes weren't so artificially low.
Oct 8, 2012 | 10:46 pm
#10
Join Date: Feb 2009
Location: SFO
Programs: UA,VX
Posts: 12
I bought my co-worker's leftover British Sterling cash from him because he didn't have time to change it on the way back to the US. You can always see if anyone you know is going to that same country in a few months and sell it to them. I got 32 pounds without having to pay any transaction fee and we used the exchange rate that was given on the day he withdrew the money from an ATM in the UK. Yes, it is well in advance of my trip, but I may be able to use it at Heathrow towards my initial transit purchases; I won't have to wait in line at an ATM at the airport.
Oct 8, 2012 | 11:04 pm
#12
Join Date: Oct 2011
Location: LAS - where you can get married and divorced in the same 24 hour period. Perfect for the woman who's saving herself for marriage and the man who wants a one night stand.
Programs: DL DM, Hilton Diamond, IHG Diamond, Marriott Platinum, UA, AA, AS, WN kettle, Hertz PC
Posts: 1,613
Never leave with coins - no bank or currency exchange will take them when you return home.
I'll buy stuff in the airport like gum and magazines using the coins and pay the balance with a credit card.
I'll buy stuff in the airport like gum and magazines using the coins and pay the balance with a credit card.
Oct 9, 2012 | 5:35 am
#13
FlyerTalk Evangelist
Join Date: Jul 2003
Location: jfk area
Programs: AA platinum; 2MM AA, Delta Diamond, Hilton Diamond
Posts: 10,291
I've found that duty free shops at airports will accept coins (even as low as 1 cent). [Since money changers outside of that country will not accept coins--probably the only way of getting rid of loose change.]
PS: (1)On AA they come around collecting for UNICEF, so you can donate coins,--I assume other airlines do the same, (2)In the past (I haven't checked lately) in Switzerland, money changers did accept "foreign" coins
PS: (1)On AA they come around collecting for UNICEF, so you can donate coins,--I assume other airlines do the same, (2)In the past (I haven't checked lately) in Switzerland, money changers did accept "foreign" coins
Oct 9, 2012 | 5:42 am
#14
FlyerTalk Evangelist
Join Date: Jul 2003
Location: jfk area
Programs: AA platinum; 2MM AA, Delta Diamond, Hilton Diamond
Posts: 10,291
Do you anticipate that the US will ever again back its currency with gold--once we went off the gold standard, "they" could just print more money and inflate the value of the dollar...
Oct 9, 2012 | 6:46 am
#15
Join Date: May 2011
Location: CBR (Australia)
Programs: QF
Posts: 290
I try not to have too much local currency left over, it's usually just coins and a few smaller notes (talking no more than about $10 worth of notes).
I think the largest amount I've ever been left with was around NZ$200, which I just exchanged at the airport. Yes it was not the best exchange rate, and yes I took a hit going from AU-NZ-AU. But I also figured my time has a value attached to it as well, and I rate my time as been more valuable than $8 an hour. Plus it meant I had a few $$$ in cash when I landed in SYD.
I also tend to place remaining coins into the change for good program which all OW airlines have (not just AA).
I think the largest amount I've ever been left with was around NZ$200, which I just exchanged at the airport. Yes it was not the best exchange rate, and yes I took a hit going from AU-NZ-AU. But I also figured my time has a value attached to it as well, and I rate my time as been more valuable than $8 an hour. Plus it meant I had a few $$$ in cash when I landed in SYD.
I also tend to place remaining coins into the change for good program which all OW airlines have (not just AA).