5 great ways to pay for items while Travelling Overseas
JWest • November 3, 2022
Travelling overseas can be an exhilarating experience. The sites, the sounds the smels can all help you create new neurons in the brain that will stick with you for a lifetime. This is also a great time to start your foreign money collection! There are multiple ways to pay for things overseas, some better than others, but it is still your preference on what works best for you.
Planning an overseas trip? How will you pay for items that you need to purchase when you’re out of the country? How will you get the cash you need? You have multiple payment options, and it’s important to explore all of them to find what works best for you and your situation.
Consider these important tips about paying for items overseas:
- Credit Cards
- They offer better exchange rates, but every location may not take them. Most common are Visa and Mastercard. Call your card issuer to let them know that you will be traveling overseas and will be using your card. They may have some additional protection included.
- Cash
- You may lose money because of the exchange rates. Do your homework! Keep an eye on those rates leading up to the trip you may find a downturn in that market and be able to get more for your money. There is no protection from with cash.
- Traveler's Checks
- Some of you may be asking what are traveler's checks? Well, the definition is paper documents that can be used as a traditional paper check and also like cash. When you need traveler's checks, your own financial institution is often the easiest option. They can be replaced if they're lost, but the exchange rates may be high, and you will be charged a fee to do so.
- Debit Cards
- You can get cash from ATMs (Awesome), but you may have high fees from your bank and ATM. Use this as a last resort.
- Travel Cards aka multi-currency cards
- They offer the same protection as traveler's checks. As with traveler’s checks, the exchange rates may be high. They do have the benefits of getting an international online account, top up in dollars and then convert to the currency you need in your destination before you even leave home. Like traveler’s checks you’re locking in the exchange rate when you convert — and because you only get what you need, you can also budget your spending.
So, If you’re traveling outside of the country, you can use a variety of payment options. It’s important to explore the benefits and disadvantages of all of them to see which options work the best for you on your trip.
Bon Voyage!
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Hello, my name is Clara, and I am in a relationship with Traveling. I have been traveling for as long as I can remember. I decided in my teens that travel would always be a part of my life because I did not like to stay home. As an adult, my first few trips were to the regular/popular places (Orlando, Washington DC, and New York.
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