Money and Travel
Read the text below and write the paragraph headings in the spaces below.
In an increasingly digitalized world, it could be
argued that money is becoming less important.
Well, that may be true about actual physical money
(cash, in other words) but we all need to have the
financial resources to buy food, pay the rent, buy
train tickets and so on. We may carry out these
transactions in a variety of ways (online banking,
money transfer, credit cards, mobile phone
payments and so on) but, in many situations and particularly when travelling in other
countries, cash is not a luxury but a necessity.
1 ___________________. Perhaps you have just booked your next holiday in the sun. Or
maybe you are planning to study abroad for a period of time. You arrive at the airport and
immediately notice the exchange desks helpfully offering a quick and simple way to change
your money into the currency of your destination. Unfortunately, this may not be the most
economical way to change money. Exchange offices do not generally offer the best
exchange rates. They also charge commission (a percentage of the transaction), so you may
end up with less of the local currency than you thought. Similarly, banks in your home
country will charge commission for changing your money into a foreign currency. The most
economical way is often to use your bankcard (debit card) at a cash machine at your
destination. There will still be a commission charge, but it is generally less than the ones
described above and the exchange rate may also be better. But remember that using a
credit card in another country will be more expensive as the commission charges will be
higher. Did you know? In the UK, cash machines are also called ‘cashpoints’ and some
people refer to them as ‘the hole in the wall’. The first cash machine in the world was opened
in 1967 in London, UK.
2 ___________________. When you are abroad and visiting tourist sites to do some
sightseeing, make sure your valuables are secure. Never carry a wallet or purse in your back
pocket as this will be a simple target for pickpockets. Similarly, placing valuables such as
credit cards and passports in the outer pocket of a backpack can be risky. Don’t take too
much cash with you. Work out how much cash you will need each day and only take that
amount. Try to avoid carrying large denomination banknotes – bus drivers in the UK, for
(Adapted from onestopenglish.com)
example, will not be happy if you offer them a £50 note for a £3 bus fare. Make sure you
have some small change with you. It is much better to have a few coins to pay for items you
buy in the street, such as ice cream, than to offer the seller a large denomination banknote
and then have to wait while the seller looks for change. Did you know? Banknotes in
Australia are made of plastic. The UK has also introduced a plastic £5 note, and a new
plastic £10 note will be introduced soon.
3 ___________________. Don’t choose an obvious
personal identification number (PIN). If you lose your
bankcard or credit card or your card is stolen, a
criminal might guess that your PIN is 1234 and take
money from your bank account. If you are going
abroad, make sure you have the contact details of
your bank with you so that you can report a lost or
stolen card immediately. The bank will then cancel your card and you will not lose any
money if someone tries to use it. If you are travelling to an unusual destination, it is a good
idea to inform your bank before you travel. If you fail to do this, the bank may block the use
of your cards due to ‘suspicious activity’. Did you know? The world’s first credit card was
Diner’s Club. It began life as a charge card for just 200 members and was accepted at 27
restaurants in New York.
4 ___________________. If you are planning a trip abroad, find out about the rules for
tipping at your destination and, if necessary, always carry some small change with you. In
some countries, tipping is not required or expected, but in others (the USA, for example) you
may get a negative reaction if you fail to offer a tip to a taxi-driver or to a waiter in a
restaurant. If you take a taxi in the UK to a local destination and the fare is less than £10, it is
normal to round up the fare to the nearest pound. So, if the fare is £6.30, it would be
acceptable to offer the driver £7. But, be careful! If the fare is £6.90, you should offer £7.50
or even £8, as ten pence is far too little. Did you know? Tipping is not required in Japan and
may even be seen as an insult because good service is standard and expected.
(Adapted from onestopenglish.com)
