I am in Canada and most of my knowledge on credit cards is limited to Canada and US. I don't know if the same rules apply to credit cards issued in other countries.
Also I've never used travellers' cheques so maybe others can provide better information on that. My personal experience with currency exchange is limited mostly to North America and a little bit in Europe (pre-Euro). So I may have missed some things that are important in the rest of the world.
I think this page should be kept very general. No country or even region specific information should be included here. That should be on the country page. However, if someone can provide general information on the risks/benefits of black market currency exchange that probably should be here. -- Webgeer 01:31, Jul 30, 2004 (EDT)
Why are we giving tips on how to successfully transact black money? First it was encouraging others to bribe in India, see Talk:India#Baksheesh and now it's this. And although no one's denying the fact that black money rates are quite good, it's morally wrong and advising travellers to indulge in such stuff is not one of our goals.
Just because corruption is high in third-world countries (including India, my home country), it doesn't mean that others should be encouraged to become corrupt themselves. Upamanyuwikitravel • ( Talk ) • ( Travel ) • 09:04, 13 March 2007 (EDT)
Study the text yourself....
The key guideline to successful black market transactions is to receive the money before you hand yours over. Count the bills, inspect the bills carefully, compare them to any you already have, and only then surrender your own money to the vendor. Do not allow them to take back the money they gave you, as this is where various sleight-of-hand tricks can be pulled to replace the legitimate bundle with something entirely different.
An exception may apply in countries such as Nepal and India where doing a legal exchange at a bank can involve wasting an hour or more but most hotels will change money for you instantly and fairly safely. The rate may not be much better, but the convenience is.
I think its not as much about corruption as it is practicality. There are many third world nations where the "official" exchange rate is ridiculous. Take Zimbabwe for example, for many years the "official" exchange rate was 250 to 1 US dollar. In 2008, the rate was changed to 250,000 to 1...but by the middle of the year, the price of common goods like bread and milk were priced in the billions and the black market rate approached 500billion to 1 US dollar. The government revalued the currency at 10,000,000,000 to 1, but did not change the exchange rate. So currently the official exchange rate adjusted for revalued money is 1 Zimbabwe dollar to 40,000 US dollar...but the black market rate is 26,000 Zimbabwe dollars to 1 US dollar. That's a huge difference. The same goes with Iran, where the exchange rate in the black market is about twice the official rates. So sometimes, you must deal in the black market. AHeneen 22:02, 20 November 2008 (EST)
"PIN code lengths vary from country to country. 4-digit PINs are more or less universal, but longer codes may be rejected. Ask your bank to issue you a 4-digit PIN for travel."
Is this really true? I have read this on a number of sites, but is it just an urban legend, or out-of-date? I have a 6-digit PIN, and have never had any problem anywhere in Europe. Can anybody confirm WHERE you need a 4-digit PIN? CF 15/10/07.
Crime to exceed your limit!?
I've cut out this section as highly dubious:
In a few countries, such a Malaysia and Singapore, it is a crime to go over your credit card limit. It is unlikely, though, that a tourist would be arrested if they haven't yet left the store with the goods. More caution should be used at restaurants, but even here, you'll probably be given a second chance to pay with cash or another card. (This law has been around long before credit cards were electronically scanned.)
I live and travel extensively in both countries, have attempted and seen other attempt to charge to a maxed out card umpteen times, and have never been met with anything other than a shoulder shrug while you dig the next one out of your wallet. Jpatokal 04:30, 15 October 2007 (EDT)
Long list of US credit card fees..
With regard to this edit , can anyone see a reasno to maintain a long list of US bank fees here? Firstly, it is very U.S. centric, secondly it is going to be a pain to keep updated.
Also, I don't accept the additions with regard to dynamic currency conversion. It sounds a little like credit card propaganda to me. By all means be aware of what your credit card fees and charges are, but having my credit card charged in my home currency always seems to save me money over the VISA exchange rate I have, plus the 1.5% foreign currency fee my card charges me. The best advice would seem to be alert, and take the best deal on offer. Signing above the line, crossing stuff out, and sending copies to the credit card company? Is this serious? --inas 20:44, 10 September 2009 (EDT)
and yes, the table can be maintained - if it can be created, it can be maintained, right?
the point of this site is to provide travel information which is exactly what the table is - it is relevant to people who travel. the wiki format is the best format to have this information in as it changes reguarly. there are numerous articles on the web with this info - 541000 results in google for foreign transaction fees - obviously people care about it. i dont see how it hurts to include it in a separate article - it isnt getting in your way.
The excellent new discussion for these cards would be greatly helped by discussions of their risks and how to avoid them. Can anyone help? Hennejohn 21:21, 4 April 2012 (EDT)
Not a clear meaning
Under "Black Market Exchange" " In some countries the official exchange rate is fixed at a completely unreasonable or unrealistic rate. In these countries the black market will provide a much more realistic evaluation of the currency's worth and is practically unavoidable. For example, in 2007, the official exchange rate was 250 Zimbabwe dollars to the US dollar, while the black market rate reached 600,000. " The meaning is totally the opposite. Someone who knows about the Black Market could provide a better example to help make the argument valid. --Koff99 01:12, 20 June 2012 (EDT)