Flashcards
USING MONEY ABROAD AND FOREIGN EXCHANGE CALCULATIONS
Flashcards do conjunto (15)
- 1CurrencyThis is a unit of money used by all the people within a country
- 2Legal tenderMeans of payment accepted by law-
usually coins and paper - 3Eurolegal tender currency in 19 of 28 EU
countries plus:
Montenegro
Kosovo
Andorra
Monaco
San Marino
Vatican City - 4Which countries, apart from the US, use dollars?Australia
Canada
Jamaica
Singapore - 5Where is the pound sterling used, apart from the UK (England, Scotland, Northern Ireland and Wales)?Jersey
Guernsey
Isle of Man - 6Exchanging Currencies Where can you buy currencies?From a bank
a post office
a Bureau de Change (small shop that only buys and sells currencies)
Large shops e.g M & S
Some hotel receptions
Online - 7CommissionThis is a charge that you usually have to pay when you exchange currency, (both when buying and selling back), and which therefore reduces the amount of money you get
- 8Exchange RateThe price of a nation's currency in terms of
another's. - 9Exchange rate depends on:1.The number of people buying the currency
2. The number of people selling the currency - 10Popular currenciesHave a HIGH exchange rate, and so cost more
- 11Less popular currenciesHave a low exchange rate, and so cost less
- 12Travellers' chequesYou need to sign them and note the numbers of the cheques
Exchange them in a bank at your destination, where your signature is checked
If you lose them or they are stolen, report the numbers and they will be cancelled
Back in the UK they can be paid into a bank or exchanged for cash - 13Using cards abroadDebit and credit cards can be used at ATMs (Automated Teller Machines or Cash Machines), in shops and in hotels.
You need to check they accept Cirrus, Mastercard or Visa according to your card. - 14Prepaid cash cardThis is pre-loaded with cash up to a certain amount so is safer than carrying money around or debit or credit cards.
It might help you budget too! - 15—
Informações
- Descrição
- Flashcards on Using Money abroad
- Criado por
- Alan Stone
- Visualizações
- 73
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