International Banking

There are many places to change your currency once you arrive in a city. You can exchange at your bank before you leave, in the airport of departure or arrival, or once in the city centre of your destination. Be sure you are aware of the exchange rates and understand that some places will have a better rate but charge a commission or fee for the transaction. You can find out more about exchange rates at www.xe.com. Be careful not to exchange money with people on the street who offer a "good rate."

The easiest way to handle money is to use your ATM or Bank Debit/Credit card. There are ATM machines located on almost every corner and most places accept Mastercard, Visa and American Express cards. Your bank may charge a fee for international withdrawals, so be sure to check with them before you leave. You should also alert your bank before you leave that you will be using the card in Europe. Some banks put a security hold on cards when they see unusual activity or purchases abroad, so it's best to tell them you are travelling. They should tell you if there is anything you need to do prior to leaving.

Even though the Czech Republic has joined the European Union (effective May 01, 2004), it still uses the local currency (Czech Koruna/Krowns) and will continue to do so until 2007.Switzerland, Norway and the United Kingdom all continue to use their original local currency.

Foreign bank accounts are not necessary until you are hired by an employer and they will advise you how to arrange this. Usually TEFL teachers are paid in cash or by check that you may cash at the employers bank. In Asia, the employer or recruiter will help you with this upon arrival.