A lot of people aren’t sure what to do regarding travel money for their trip. Some wonder if cash is better, others want no cash at all.
To ensure that you have a stress-free trip, it’s important to plan ahead for your travel money, so that is why I made this guide with some simple tips for spending abroad.
- Use a travel credit card
One of the easiest and most convenient ways to take travel money is to use a travel credit card. These cards are designed for travel, and offer benefits such as no foreign transaction fees and other benefits. Some of the best travel credit cards in the UK include the Halifax Clarity Card, Barclaycard Platinum Travel Card, the American Express Preferred Rewards Gold Card, and the Santander Zero Credit Card.
Make sure you check the fees of your credit card as most other credit cards have high fees for using a card abroad. Make sure you know what your credit card fees are. - Use a debit card with no overseas fees
There are some banks, mainly app based banks, that offer debit cards with no overseas fees. Such as Monzo, Starling and Chase bank. These all offer overseas use for free. - Get a prepaid travel card
These cards allow you to load money onto them before you travel, and then use them like a debit card while you’re abroad. They’re widely accepted and can be a good way to avoid foreign transaction fees. Some of the best prepaid travel cards in the UK include the Post Office Travel Money Card, and the Caxton FX Card. - Take some cash
I personally always take some cash as not everywhere accepts cards as I have found out over the last decade or so. Plus you never know if your card might get blocked or lost, so I always take some cash, but still mainly use credit card. I exchange the money before I go and compare rates to get the best rate.
If you get a large note, don’t worry about it. Overseas aren’t as bad as the UK for higher value notes. Overseas they never have issues with it from my experience over 15 years in many countries all over the world, where as in the UK, we seem to have issue with larger notes and many stores won’t even accept large notes. Don’t worry abroad. I have never had issues with it. - Be aware of the risks
It’s important to be aware of the risks associated with carrying money and using ATMs.
Keep your cash and cards in a safe place, and be wary of ATM skimming scams. Check the card slot to make sure it doesn’t have a skimmer over it and put your hand over the keys when entering your pin in case there is an illegal camera set up to steal it.
Keep your money safe and don’t flash it.
It’s also a good idea to notify your bank before you travel, so they don’t flag your card for fraud.