Every destination handles money a little differently — tap-happy cities where nobody carries cash, and markets where plastic is useless. The trick isn't picking one method; it's carrying the right small kit so you always have the cheapest option to hand. Here's the travel wallet that works almost anywhere. Figures below are accurate as of June 2026. Card issuers change welcome offers, fees and perks frequently — always confirm the current terms on the issuer's page before you apply, or ask Mike in the app for what's live right now.
Lead with a no-foreign-fee card
For the vast majority of spending — restaurants, shops, hotels, transport, online bookings — a card with no foreign transaction fees gives the best exchange rate and the most protection if something goes wrong. Make it your default and reach for it first everywhere. Contactless and mobile-wallet payments work in more and more of the world, so often you won't even take the card out.
- Best rate + fraud protection on most spending
- No foreign transaction fee = ~3% saved vs a typical card
- Contactless/phone payments work in more places every year
Carry some local cash for the corners
Cards don't reach everywhere: market stalls, small cafés, tips, rural areas, some transport. Carry a modest amount of local cash for those gaps — enough to be comfortable, not so much that losing your wallet ruins the trip. Top it up from bank ATMs as you go rather than changing a big lump at the start.
- Cash still rules markets, tips, small vendors and rural spots
- Carry a comfortable amount, not a fortune
- Refill from bank ATMs along the way, not all at once
Get cash the cheap way
Withdraw from bank ATMs with a debit or travel card that charges no foreign ATM fees, take out larger amounts less frequently to dilute any fixed cost, and always decline the machine's offer to convert to your home currency. Skip airport and tourist-strip exchange kiosks entirely — their rates are the worst you'll see all trip.
- Bank ATMs + a fee-free debit card = the cheapest cash
- Bigger, less frequent withdrawals spread fixed costs
- Decline currency conversion; avoid airport exchange kiosks
Always choose local currency
Whether you're paying at a shop terminal or withdrawing at an ATM, you'll often be asked to pay in your home currency. Always choose local. The home-currency option, Dynamic Currency Conversion, builds in a markup that's almost always worse than your card's own rate. This one habit protects every payment you make.
- Pick local currency at every terminal and ATM
- Home-currency conversion (DCC) is a markup, not a convenience
- One habit that protects every single payment
Know the local money culture before you land
A little homework saves friction. Some destinations are nearly cashless; others run on cash and small change. Some expect tips, some don't. Knowing whether a place is card-first or cash-first — and the tipping norm — tells you how much cash to carry and how to pay politely. When in doubt, ask Mike for the on-the-ground reality of your destination.
- Card-first vs cash-first varies hugely by destination
- Know the tipping norm before you arrive
- Ask Mike for the real-world money culture where you're headed
| Situation | Best method | Why |
|---|---|---|
| Restaurants, shops, hotels | No-foreign-fee card | Best rate + protection |
| Markets, tips, small vendors | Local cash | Cards often not accepted |
| Getting cash | Bank ATM + fee-free debit | Fair rate, low fees |
| Any terminal/ATM prompt | Choose local currency | Avoids DCC markup |
Key takeaways
- Lead with a no-foreign-fee card for most spending; it gives the best rate and protection.
- Carry a modest amount of local cash for markets, tips and the corners cards don't reach.
- Get cash from bank ATMs with a fee-free debit card; avoid airport exchange kiosks.
- Always choose local currency at terminals and ATMs to dodge the DCC markup.
You don't need a different strategy for every country — just the right little kit: a no-foreign-fee card to lead with, some local cash for the gaps, a fee-free way to refill it, and the discipline to always pay in local currency. Carry that, and you'll get the best rate everywhere and never be left standing at a till unable to pay.
