South America is made up of 12 different countries which include Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, Uruguay and Venezuela. Many people book multi-country South America trips each year where they travel from one country to the next, however unlike travelling within Europe each country has their own currency which can sometimes cause a bit of a financial nightmare!
Here is my quick and easy guide to currency for a South America multi-country trip.
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Whilst travelling around South America the best way of carrying money is with a US Dollar prepaid currency card. A prepaid currency card allows you to load money onto a card and then make withdrawals from ATM’s in each local currency whilst abroad. This saves you having to carry large amounts of each individual currency with you. Never carry large amounts of money whilst travelling through South America; street crime is an issue especially in poorer parts. A currency card has a personal pin number so withdrawals can only be made by you. If the prepaid currency card does become lost or stolen the provider will issue you with a new one and your funds will remain safe.
Upon arrival in each South American country simply use your currency card in an ATM machine to withdrawal a small amount of cash. Do bear in mind that this is far easier in main cities and resorts. If you are planning to visit the countryside think ahead and make sure you withdrawal enough money to last whilst in a city or airport.
Safety
Whilst travelling in South America keep any money split up, for example some funds should be kept in your wallet, some in your luggage and a small stash on your person. What may seem like a small amount of dollars in your wallet will be a completely different sum to a street seller or other local that happens to see you open your wallet simply to buy an ice-cream. Don’t attract any unnecessary Attention to yourself whilst on the streets.
A currency card works in a similar fashion to a prepaid mobile phone card. Money is loaded onto a card and only that sum can be spent. With a prepaid currency card you load the currency card with a specific amount of US Dollars at a fixed exchange rate. You can use the currency card in most major ATMS and to pay for goods and services in shops and restaurants.
Better Exchange Rates
Most currency providers offer better exchange rates for prepaid currency cards than what they offer for travel money. Thus using a prepaid currency card will help you to get the best dollar rate.
Beware
Some currency card providers do charge a fee for purchasing the currency card and may also charge fees for making withdrawals from ATM’s. On the other hand some currency providers offer both of these services for free. Check out our currency card comparison tables for further information on fees and charges. Here you will also be able to compare the current exchange rates offered by the UK’s leading providers.
Benefits of using a currency card instead of carrying conventional travel money or travellers cheques
- Safety – You are not carrying large amounts of cash.
- No identification required – Unlike travellers cheques you do not need to show identification each time you want to get cash.
- Lost/Stolen – A currency card will instantly be replaced if lost or stolen.
- Budgeting – A prepaid currency card allows you to budget as you can only spend the money available on the card. This removes the risk of overspending and getting into debt whilst on holiday.
For further information visit our currency card comparison tables where you will find the best dollar rate.
If you would like to learn more about prepaid currency cards please visit our guide.
