International spending money.
Trip cost covers needs. Spending money covers the coffee, the elephant snuggles, the volcano hike, and the souvenirs. Here's how to handle it.
$100 – $200 per month
That's a ballpark from previous participants. It depends on how much your racer wants to spend on souvenirs, gifts, eating out with their team, and weekend adventures. They know their spending habits best.
One word: VISA
We highly recommend a VISA debit card attached to a personal checking account (not a prepaid card). It's the most reliable way to access money overseas. With a debit card, you can withdraw local currency from an ATM, usually at the best exchange rate.
Most accepted card worldwide. Use this.
Acceptance varies by country and ATM. Don't rely on it as your only card.
Don't bother bringing it for daily spending overseas.
Meet our man, Charles.
Consider opening a Charles Schwab checking account. ATMs overseas charge $3–$10 per withdrawal — Schwab reimburses every single ATM fee at the end of each month, anywhere in the world. Hello, extra coffee money.
Learn about Schwab checking →Two phone calls that prevent big headaches
Call the bank — tell them they're traveling
Banks freeze cards when they see charges in multiple countries. Call before departure and list every country on the route. Otherwise the card will get locked at the worst possible moment.
Check the card's expiration date
If the debit card expires while they're gone, request a replacement now — well before departure. Cards can't be easily mailed overseas.
Add a trusted person to the account
One of the best things a racer can do is add a parent (or another trusted person) to their bank account. That person can walk into the bank and handle anything — deposit money, change information, replace a lost card — no questions asked.
Bonus: when grandma wants to send a birthday gift, she can drop a little cash straight into the account. Easy.
Have a backup plan
Things happen. A debit card gets left in a taxi. A doctor visit comes out of nowhere. We recommend each racer carry an emergency credit card, kept separately from their debit card, just in case.
Also: understand how the insurance plan works. AIM's plan is a reimbursement plan, meaning your racer needs to pay up front for any medical expenses and then submit a claim to be reimbursed. Make sure they (and you) have a way to cover that gap.
Spend wisely and enjoy those international adventures, friends.