- USD$
Fortunately or unfortunately, depending on what way you look at it, there is something universal in the green money with dead presidents on it. When one is in a tiff, nothing puts a smile on an Africans face more than the sound of a US bill being pulled out of a pocket and held at eye level. It is wise to keep some cash on you at all times.
- Credit Cards are accepted everywhere. Almost all major services or purchase are payable with VISA or MasterCard and less commonly American Express. Banks in all major cities will provide a cash advance with a credit card and a valid passport (make sure the passport and credit card have matching signatures, EXACTLY). I love traveling with a credit card because it is easy to use and easy to cancel if it is lost or stolen. Make sure to read the advice about PIN# on this page.
- Cash Advances
Walking into a bank and receiving a cash advance is extremely easy. A valid passport with a matching signature on the credit card is all that is required in most cases. Occasionally banks require a pin number with teller transactions. Cash advances are very expensive in that credit companies will not wait until the end of your billing cycle (usually a month) to start charging interest; interest accumulates from the minute the advance is withdrawn. This method is not recommended unless you have prepaid your credit card (see below tip)
- ATM Banking is not widely utilized in Africa, although it is starting to pop-up in major cities and is well established throughout Botswana, Namibia and South Africa. INTERESTINGLY: ATM banking is possible in Mozambique, but I have heard that a alternate sized ATM card is necessary. ATM withdrawls are typically very expensive. Although African banks tend to not charge ATM fees, American banks often charge around $5 per withdrawl, so beware.
- Exchanging Cash is the best way to save on commission and costly rates. The best way to exchange cash is to exchanging money from an exchange bureau, usually. These places are in business only to acquire foreign currency and will give you the best rates. Although some "bureau de change", as they are often known, sometimes charge more than banks so take a look first. Retailers may be willing ot exchange some cash if you buy an itme with a large US bill. Don't fall for different rates for large or small bills, money is money. Also, if you are willing to bargain, most places will give better rates than advertised.
- Traveler’s checks are always a practical solution to having cash at hand, but not really cash. It is also safe to bring a little extra money than you were intending on using on your trip, just in case of an emergency, and to bring this as traveler’s checks. The only problem with traveler's checks is that they aren't as easy as they claim to be reimbursed, they are often not accepted by retailers or for service provided (although safaris can typically be paid with traveler’s checks), and banks generally charge double for exchanging traveler's checks as they do for cash. VISA and American Express traveler's checks offices are few and far between in Africa, but are in major cities.
- PIN #
BE 100% POSITIVE that you have a valid PIN# for your credit card before departure. I don't mean a PIN# for a ATM card! I mean a PIN# for a credit card, something that is not required for purchasing in the US but is almost everywhere else. It is not possible to receive over the phone. Credit card providers require a oral or written request for a PIN#. It takes around 15 days to receive it after the request has been processed and can up to 6 weeks to recieve. A PIN# will also allow one to use the credit card like an ATM card.
- Credit Card Tips
An extremely smart idea is to mail your credit card provider a check for the amount of money you will spend while traveling, before you travel. In this way you will not be charged any exorbitant cash advance or ATM charges and when you get home from your trip you won't have the headache (heart ache) of having to pay your bills from traveling.
Personally I think that credit cards can be used as a primary funding source to help protect your purchases and money. Cash advances are just as easy to do as exchanging traveler’s checks and withdrawling from an ATM. ATM withdrawls are costly (usage fee) and just as easy with a credit card that has a pin, traveler’s checks are slow and cash can easily dissappears with no hope of return. A combination of credit card, traveler's check and cash is the most prudent way to travel. Lastly, If someone is interested in stealing from you, be it someone you are buying something from or someone following you, they are less likely to steal from you if they notice you pay with credit cards.
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