Scroll to Top
An Insight Into Accessing Money Successfully While Travelling Overseas
Posted by Mikkie on 8th March 2016

currency

Gone are the days when travelers had to carry a bunch of traveler’s cheque when travelling overseas. With the evolution in technology, things have witnessed a change. Tools have been created for travellers to make travelling easier for them. Most tourists aim at minimizing the transaction fees during travel. Ease, convenience and affordability are three factors which most travelers are on the lookout for. You may have to pay hefty transaction fees if you make use of the wrong credit cards. You may have to spend additionally if you use your credit cards for purchases during travel.

Be well prepared

Most of the major banks have agreements with overseas banks. Thus, it is advised that you have an account in one of the leading banks. This will make transactions easy during your stay overseas. It is advised that you carry the important cards and a small amount of cash while travelling. You may require the cash when you arrive at a new destination. The three best card options you can opt for are credit cards, debit cards and travel money cards. With ATMs in almost all part of the world accessing cash is easy.

Use the ATMs

ATMs are one of the easiest and most convenient ways to access cash when you are on the go. If you have an ATM card which is authorized for overseas use travel is convenient. You will no longer have to worry about the source of funds. It is advised that you carry more than one credit card. However, you must take note of the fact that you will have to pay a foreign currency fee every time you withdraw. Another way in which you can access cash is through a prepaid currency card. At the start, you will have to buy the card, deposit the money and withdraw as per your need from ATMs.

Do your homework

Cash is not the form of holiday money. It is wiser to reach a new destination with small amount of local currency. If you decide on carrying cash, covert it to a major currency. It may help you to tide over the expenses till you reach an ATM. Take note of the fact that every destination is not same. Each location differs in terms of the way in which travelers can access money. It will help in the long run if you do your homework and find destination specific information online.

Find out about rates and fees

Some ATMs may not operate round the clock. Some stores may not accept credit cards. In such cases, you will require cash in hand. When you travel overseas, you may have to pay a commission for exchanging money. Find out about how much it will cost you when you withdraw from the ATMs. Some banks may charge you a flat fee when you access money overseas. Before you pay, it is wise to find out from the banks about the rates. When you travel, you should be smart about how much cash you carry. You should avoid carrying large amount of cash.

Image Credits: Images of Money