More money/banking tips...

My suggestion to anyone needing funds immediately upon arrival in a country is to use travelers checks and depositing them in your new bank account upon arrival. The only problem with the travelers checks is they are cumbersome, come in low denominations (RBC only had them in $100 denominations), they take a long time for the bank to create and they require many signatures. I would have needed to carry about 150 of these travelers checks to accomplish what I needed. My local bank did not even have that many in stock. So if you are planning a long trip and need cash fast upon arrival, prepare way in advance of your departure.

If you plan on opening a bank account in a foreign country, check what the requirements are for a foreigner to open an account well before your trip. Call the banks in the country you are going to. All the banks in Grenada wanted different items, but some of the things they required were: Passport, a second form of photo ID, a utility bill from home, a letter of introduction from your bank, a letter of reference from your employer, and a letter of reference from a professional in your community. I'm sure there are others that I forgot.

It is also important to remember to declare when departing your country of origin if you are carrying more than $10,000. You do not want your funds confiscated if you get caught with it at your destination or going through the security check. This includes cash in all currency types and or forms (Travellers checks/bank drafts). This would also apply to driving into other countries.

Let your Credit and debit card companies know that you will be travelling to another country and how long you will be gone. Also check the strips on these cards for condition well before you leave so you can order new ones if they are needed. I have not encountered a chip card reader here yet. I also contacted all the credit card companies of cards I would not be using to let them know that these cards should not used while I am away. I put those cards in my safe deposit box.

While visiting my home bank, I had a power of attorney applied to my accounts in case I needed something done while I was away. Banks prefer their form to one from a lawyer, which they will accept but there are more hoops to jump through. I also told the branch to put a note on my account not to accept any applications for credit during the period we were to be away.

I use my credit card to make many purchases here as well, as the exchange rate offered is not that bad compared to what the banks give you and it allows you to carry less cash.

I would like to give a shout out here as well to all the staff of my home RBC Branch in Brighton as they have been outstanding!