How do you work out how much spending money to take

[Maisie]

on holiday?

I am going away next year to Morocco and I don't have a clue about how much money to take. I know I will have my bank card with me but I will need to take cash too.

 

[smitcompton]

Hi Maisie,

First I get American Express travelers checks. Usually your hotel will accept them or cash them for you in that countrys currency. When you make your reservations ask them to be sure. Then I go to the bank here and ask them to exchange my dollars into s50 lbs(if I were going to England). When I'm in the foreign country I go to their bank and ask them to convert my travelers checks. Of course this costs you to do, plus when you are abroad the exchange rate can change every day. In Spain, France, Eng, I had no trouble. I don't temember the others. Its been a while.

I always wanted to go to Morrocco. Enjoy yourself, but be careful.
Thanks,
Annette

 

[Maisie]

Thanks Annette. I am really looking forward to going. I won't be alone though. Going with my other half. I wouldn't feel comfortable going somewhere like that on my own. We are going to stay in Marrakech for 3 days then move onto a resort to relax for the rest of the week.

My biggest worry is running out of money and not being able to find a bank to get more cash. And I don't want to carry a lot of cash just in case.

 

[rosetta]

Does morrocco not have a closed currency?

I hear there are lots of ATMs in Marrakech so you should be ok!

 

[Miss Sparkly]

I don't believe that travelers checks are sold anymore. The bank that I work for and other banks that friends work for no longer sell them. They sell a travel card instead. Don't forget to call your bank and your credit card holders to let them know your travel plans and dates. This is VERY important so that your card isn't shut down while you're away. As far as the cash amount to carry, I have no clue.

 

[Ninna]

Yes they do have closed & weak currency in Morocco
I would not do Traveler's checks, it's tough to find a bank willing to cash them and hotels tend to charge high commissions. If you decide to use them, take larger value denominations to reduce the commission a bit, they charge per checks.

Ditto on the ATM option, they are easy to find on main roads and quite safe in large hotels, they also have better exchange rate than changing cash. I would call the bank to double check on their charges and also make them aware that you will be using their card abroad and where you can be reached.
If you have plans to shop in the Souck, I would suggest asking the merchant to bring the goods to your hotel lobby and collect payment from you, much safer and common practice.

 

[Maisie]

I don't know what a closed currency means. Am I restricted in how much I can take there? Or do I have to change it all back before I leave?

I didn't know that about the soucks. Thank you for the advice!

 

[AprilBaby]

When I went to Australia not even the bank would cash travelers checks. We just carry credit cards and debit cards. Use the ATM, you get a better exchange rate.

 

[elle_chris]

I don't know what a closed currency means. Am I restricted in how much I can take there? Or do I have to change it all back before I leave?

I didn't know that about the soucks. Thank you for the advice!

It means you can only exchange your money there. Not available outside of their country. It also means you'd need to exchange it back before you leave.

I think credit cards and and ATMs are your best bet. If you need to use their currency for cabs or minor things, hotels usually have ATMs. If not, I've found hotels will usually charge whatever amount you need (like 100) and give you the cash amount.

 

[elrohwen]

I usually just take credit and debit cards, then take out a couple hundred dollars in cash before I leave so I have some immediate cash (for cabs or restaurants right when I arrive). I don't like to take out my whole spending allowance in cash and have to carry it around. It seems to usually end up about the same to convert money myself or to pay with a credit card and let he bank convert it (or get it from an ATM).

 

[Maisie]

Thanks for the advice everyone. I do appreicate it. I think I will try and withdraw money as I need it. Maybe there will be an atm at the airport. If it was any other country I wouldn't be too worried. I don't want to carry too much money just in case I get pick pocketed. The markets look like they might get crowded and I don't want to be flashing the cash! The second part of the holiday is at an all inclusive resort so I won't have to worry there.