Mr J. Sparrowis going to get travel documents and travel allowance from different currencies. Then we need to also inform and provide Mr J. Sparrow with important details of authorised dealers and foreign currency. There are a huge variety of currencies available for these five countries we chose. Mr J. Sparrow also needs to know what (BSR) bank selling rate of these countries are against South African Rand (ZAR). The 5 continents, 5 countries and their 5 cities are: The first would be Western Asia or as they call it Middle East with one country named Abu Dhabi and the wonderful city of Dubai. Secondly is Europe with the extravagant country of Spain and one of Europe’s most friendliest cities Alicante The third continent South America with the country named Aruba and a bright city named Oranjestad The fourth on the list is the well-known Africa continent with The country named: Mauritius The city named: Port Louis Fifth on the list of continents is North America with The country: Cuba The city of: Havana The most Logical route indicated on this large world map Figure 1 World Map – Magellan Geographix Details of travel authorised dealers in Johannesburg The Glen Shop U7F, the Glen Shopping Centre Coner of Orpen and Lethaba Street, Oakdene Johannesburg 2000 Contact Information of Tambo International Airport departure 2 Shop 37 OR Tambo International Airport International departures Travel allowances across South Africa for an adult The people of South Africa who are over 18 years old may use the yearly travel amount given to them for a money limit of up to R1 million for each financial year.
The Foreign exchange picked up as a development income can be gained in any confirmed shape The travel amount can only be transferred to the person who has done the registration and requirements to receive the travel reward not to a second or out casted source. There is said and rules that say the foreign currency can only be bought 60 days before your departing flight date. The currency amount the traveller purchased must be checked to make sure it is the correct amount.. You can only return the money or currency money that is left of your travel allowance thirty days from your return date.
The money that is not used on the holiday may not be used and put into an illegal offshore account and you may not buy any offshore assets of another country. Documentation that is needed for International travelling There is always a legal passport needed There must be proof given of all the land, and travel arrangements made such as accommodation, transport and flight tickets. The Green identity document or momentary housing permit must be shown Proof of a person’s housing/ residential address must be given and a water & electricity bill that is not older than three months. Current currencies of the 5 countries used (Anon,2018): 1. Abu Dhabi The currency that is used in the UAE is the dirham or coded as AED or DHS 2. Spain’s current currency is: The familiar currency in Spain is the euro and is also used across Europe. Aruba The south American country Aruba’s has the following currency The Florin the well known code is AWG but also called as Afl The Aruban florin is split in 100 cents and the coins of 5, 10, 25, 50 cents, 1 florin (100 cents) also the 5 florin coins. 4. Mauritius The Mauritian Rupee is the international currency of Mauritius and the following is the code used is ?. Cuba The Cuban pesos and convertible pesos is being used in cuba, but the Cuban people will call both CUC’s and Moneda Nacional as Pesos.
For the Cuban nation they understand when they use the currency but when there is tourists the tourists will become confused because of what currencies or when they use the two different currencies. The current BSR, Bank Selling Rate of the 5 foreign currencies against the South African ZAR Our Forex travel Products and the advantages and the disadvantages of them The Forex Products we have chosen is the Credit Card and the Travel Cards. The Credit Card is a very general way to pay for all your expenses and is easy to carry foreign currency. The advantages of Credit Cards are (Anon,10): • Credit Cards provide access to direct and instant funds or the credit to simplify from different merchants.
Credit cards are safer than cash because they need a identification document It is easier to buy on credit instantly to a credit card holder than a consumer that must search for cash. Credit cards are much safer way of carrying money than cash. A few disadvantages of Credit Cards are (Anon;10): There are higher interest rates and that is why the buying costs more than the product itself.. Businesses that are registered to the bank merchants pay a relatively high fee every month it differs from bank to bank. A travel card must be bought before you depart on your flight, this is a safe and very easy way to carry your foreign travel money/cash on you without worrying about it exchanging the currencies or cash getting stolen and you can withdraw money at international ATM’S worldwide. A few advantages of Travel Cards are (Anon;13): You have twenty four hours seven days a week access to your money and account Travel cards are ridiculously easy and fast to replace 365 a year Each or most of the travel cards are valid for more than a few years You can load up your travel card up with money before you travel to your destination a travel Card gives the satisfaction that your money is secure even if your card is stolen or lost somewhere.
A few disadvantages of Travel Cards are: With a Travel Card you must keep the fluctuations changes of currencies in close view and monitor the changes The reason why we chose Credit Cards and Travel Cards are that because most of our travel destinations allow these types of Forex and it is safer and easier to carry around than cash. Conclusion We came to a conclusion that when traveling internationally/overseas to our five chosen continents, countries and cities you will need to know what type of currencies are used and that you will need to have a travel allowance for when going on a trip that may not exceed 1 million rand. You also need valid documents when traveling internationally. You also need Forex products, so you can travel. You also need to go to an authorised dealer to get information of your currencies and where they can go to get it.
References
- Anon. 2018. South Africa annual travel allowance, viewed 21 April 2018, from http://www.money-transfers.co.za/south-africa-annual-travel-allowance-money-transfer.php Anon.
- 2018. Information on Spain currency, viewed 21 April 2018, from http://www.spain.info/en/informacion-practica/consejos-viaje/consejos-practicos/dinero/ Anon. 2018.
- Store locater, viewed at 21 April from http://www.travelex.co.za/ZA/Store-Locator/ Anon. 2018. The currency of Cuba, viewed 21 April 2018, from http://www.visitcuba.com/travel-guide/travel-tips/ Anon.
- 2018. South African exchange rates today viewed at 21 April 2018, from http://zar.fxexchangerate.com/ Anon. 2018. Visit Abu Dhabi, viewed 21 April 2018, from https://visitabudhabi.ae/en/travel/essential.info/money.aspx Anon. 2018.
- Purchasing foreign exchange in South Africa, at 21 April from https://www.bidvestbank.co.za/business-banking/forex-services/purchasing-foreign-exchange-in-south-africa.aspx Anon. 2018.
- Visit Aruba, viewed 21 April 2018, from https://www.visitaruba.com/about-aruba/money-and-currency/ Anon. 2018. Mauritian Rupee, viewed 21 April 2018, from https://www.xe.com/currency/mur-mauritian-rupee Anon. 2018.
- Currency Tables, viewed 21 April 2018, from https://xe.com/currencytables/?from=CUC Anon. 2018. FNB exchange, viewed 21 April 2018, from rateshtttp:// www.fnb.co.za/exchangerates Anon. 2018. Foreign exchange products. Foreign exchange products: 10-13
