Do you have your bags ready for a new adventure overseas? Have you been counting the days to fly abroad after more than 1 year of COVID restrictions? Or maybe you have already started tracking those cheap flight tickets to hunt a good deal. Whatever is your case, you must review the following financial tips to get the most of your money when traveling internationally:
Credit card tips – Using a credit card is the safest and most practical way to pay your expenses abroad. First and foremost, you must call your issuing bank to notify them about your next international trip – in this way your card won’t be blocked due to suspicious activity in another country. Second, you must make sure that your credit card doesn’t include transaction fees when used internationally. Third, you should compare the exchange rate that your bank will charge you with the market exchange level – this will help you to plan accordingly.
Cash tips – Traveling with part of your budget in cash is a good idea. This will help you to cover expenses where merchants do not accept credit cards. While it is true that carrying cash represents a higher risk, you will most likely find a better exchange rate at Downtown compared to the one offered at the airport. Do some research in advance to find the best exchange spots or ask your hotel management about the closest place to get a good deal.
card tips – It is usually convenient to withdraw money from an ATM affiliated with your local bank when you need money in a foreign country. Do some research about the partnerships that your bank has at your destination and locate the best ATM to withdraw money with lower commissions. A good way to know the exact amount of additional fees, is to withdraw a small amount first and realize how much variable and fixed fees are charged.
Amazing! Now you are ready to embark on your next adventure! Follow these tips, pack your backpack and visit crediverso.com for more information on how to better manage your finances.