Managing money is an essential part of travel. Whether you are exchanging currency, using ATMs, or understanding local payment customs, knowing the right vocabulary helps you avoid confusion and get the best deals. This lesson covers everything you need to handle money confidently in English-speaking countries.
Different countries have different payment cultures. In some places, cash is king; in others, cards are preferred for even small purchases. Understanding these differences makes your travel experience smoother.
At the Currency Exchange
Currency exchange offices are found at airports, city centers, and tourist areas. Here is how to navigate the exchange process:
You
Hello, I would like to exchange some euros for pounds, please.
Clerk
Certainly. How much would you like to exchange?
You
200 euros. What is the exchange rate today?
Clerk
The rate is 0.86, so you will receive 172 pounds. There is also a 3 pound service fee.
You
Is there a better rate if I exchange more?
Clerk
For amounts over 500 euros, we offer a slightly better rate and waive the fee.
Exchange rate
The value of one currency against another
Commission / Fee
Charge for the exchange service
Buy rate
Rate when they buy your foreign currency
Sell rate
Rate when they sell you foreign currency
"What is your exchange rate for US dollars?"
Asking about the current conversion rate.
"Do you charge a commission?"
Asking about additional fees.
Using ATMs
ATMs (also called cash machines or cashpoints in British English) are often the most convenient way to get local currency:
ATM / Cash machine
Machine to withdraw money
PIN / PIN number
Your secret four-digit code
Withdrawal
Taking money from your account
Balance inquiry
Checking how much money you have
Transaction fee
Charge for using the ATM
Daily limit
Maximum withdrawal per day
Money Tip
When an ATM abroad asks if you want to be charged in your home currency or the local currency, always choose the local currency. The ATM's conversion rate is usually much worse than your bank's rate.
Common Money Questions
"Where is the nearest ATM?"
Asking for ATM locations.
"Does this ATM accept international cards?"
Checking card compatibility.
"The machine kept my card. What should I do?"
Reporting a card that was not returned.
Paying with Cards
Credit and debit cards are widely accepted, but knowing the right phrases helps:
"Do you accept credit cards?"
Asking if card payment is possible.
"Is there a minimum purchase for card payments?"
Asking about minimum spending requirements.
"Can I pay contactless?"
Asking about tap-to-pay options.
Cashier
That will be 15.50. How would you like to pay?
You
By card, please. Do you take Visa?
Cashier
Yes, we accept Visa and Mastercard. Just tap or insert when ready.
You
The machine is asking for a PIN. Can I sign instead?
Cashier
Sorry, we need the PIN for chip cards. Just enter your number.
Cash Vocabulary
Understanding cash terminology helps in everyday transactions:
Notes / Bills
Paper money
Coins
Metal money
Change
Small coins returned after payment
Small bills
Lower denomination notes (5s, 10s)
Exact change
The precise amount needed
Break a bill
Exchange large note for smaller ones
"Do you have change for a fifty?"
Asking to break a large note.
"Sorry, I only have large bills."
Explaining you do not have small money.
Money Problems
Sometimes things go wrong. Here is how to handle common issues:
"My card has been declined. Is there another way to pay?" - Card not working
"I think you gave me the wrong change." - Politely correcting an error
"I need to report a lost credit card." - Reporting a missing card
"Can I get a receipt, please?" - Asking for proof of payment
Understanding Prices
Price formats vary by country. Here are useful phrases:
"Is this price per person or for the whole group?"
Clarifying how pricing works.
"Does the price include tax?"
Asking if tax is added or included.
"Is service included in the bill?"
Asking about service charges at restaurants.
Cultural Note
In the US, prices usually do not include tax, which is added at checkout. In the UK and most of Europe, displayed prices include VAT. This can make a significant difference to your final bill!
Major World Currencies
Dollar ($)
US, Canada, Australia, etc.
Euro (€)
Most of the European Union
Pound (£)
United Kingdom
Yen (¥)
Japan
Yuan (¥)
China
Franc (CHF)
Switzerland
With these phrases and vocabulary, you can handle any money situation while traveling. In our next lesson, we will cover customs and immigration, preparing you for border crossings and passport control.