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| Swipes, Bytes, and Debit Cards (Photo credit: SimpleIllustrations) |
By Kathy Steinemann
| Restaurants, souvenir shops, grocery stores... Whenever you travel abroad, you will want to make extra purchases. Even all-inclusive packages don't include everything. What is the best way to pay? This article discusses your options. Are you planning a business trip or holiday? How will you pay for your expenses: cash, credit card, debit card, or travelers check? Here are a few facts that could help you decide. Cash You do need to take some money with you, but limit what you have in your possession and keep it in a safe place. Cash is convenient and your purchases will not involve extra charges. As long as you have cash, you don't have to search for an ATM, although you will need to locate a bank to convert your cash to local currency. Do not travel with large bills. They attract would-be muggers and pickpockets. Put small amounts of cash in an easily-accessible place and store the rest next to your body in a secure travel pouch or an inside pocket that seals closed with Velcro or a zipper. Never access your hidden bills in public. Find a bathroom or similar private area to transfer money from your secret reserve. • Extra quantities of cash, personal documents, and items such as a laptop computer should be stored in the hotel safe whenever you leave your room. Credit Cards VISA and MasterCard are accepted in more countries around the world than any other card. Most credit card companies charge an extra fee for every foreign transaction. However, you can get a no-international-fee card instead and avoid this surcharge. Talk to your company. It might be possible to upgrade to a different plan. Check to see if your card will work in your destination country (as well as any countries along the route). If you pay off your balance monthly, think about getting some kind of a rewards card. Not only will you save the extra international fees, but you will also work towards gaining extra perks such as merchandise, air miles, or cash rebates on all purchases. No matter what type of card you have, be sure to notify your credit card company before you travel; otherwise, any charges you make could be flagged as fraudulent and your account could be suspended until you straighten out the misunderstanding. • Always carry more than one card. If the strip or chip fails, you will have a backup. International Debit Cards International debit cards are similar to international credit cards, in that you will incur extra fees for foreign transactions. On top of what the foreign bank charges, you might also be charged by your local bank for every transaction - in addition to a extra foreign transaction fee. Avoid surprises by discussing this with your bank before you leave. Notify your bank before you travel that you will be using your card abroad. • Your card might not work in a foreign ATM. Take a second card along with you just in case. Which is Better, a Debit Card or a Credit Card? Both types of cards will provide coverage for fraud. In most cases, there will be zero liability to you. However, it is easier to deal with fraudulent purchases made using credit cards. • It is probably better to use a credit card for purchases and a debit card for cash withdrawals. How about Travelers Checks? Travelers checks are not used as much nowadays. They are cumbersome to work with, may be expensive to buy, and are not accepted as readily as credit or debit cards. • Some merchants will charge an extra fee for processing travelers checks. The Bottom Line Do not wait until a couple of days before your trip to make a decision. Research your options well in advance to pick the payment methods that will work best for you. About the Author: Are you interested in more travel advice? Be sure to explore Kathy's eBook, Top Tips for Travel by Air - Over 300 Targeted Travel Tips. You will also find over 1500 more travel tips at 1000Tips4Trips.com - and hundreds of helpful travel articles at 111 Travel Directory. Article source: 111 Travel Directory: Triple1.com (triple one dot com) |
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