LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Personal Finance News

From credit card, prepaid travel card, debit card to cash, here is best way to carry money while travelling abroad

Best best way to carry money while travelling abroad: Do not rely on one instrument to carry money in an overseas destination. So, what is the ideal solution for a traveller looking for safety as well as convenience? Read on: 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
From credit card, prepaid travel card, debit card to cash, here is best way to carry money while travelling abroad
The advantage of using the credit card for foreign travels is that it is convenient to use and is handy for sudden plans. Image source: Reuters
Written By: ZeeBiz WebTeam
Updated: Mon, Mar 05, 2018
06:37 pm
ZeeBiz WebDesk
RELATED NEWS
Took Credit Card loan and turned defaulter over payment of EMI? RBI helps you this way, says money expert Pankaj Mathpal Took Credit Card loan and turned defaulter over payment of EMI? RBI helps you this way, says money expert Pankaj Mathpal
Never share your bank debit card details, PIN number  - this woman lost Rs 50,000 over food bill fraud Never share your bank debit card details, PIN number - this woman lost Rs 50,000 over food bill fraud
Strictly by-invitation-only! YES BANK launches Yes Private Prime credit card for affluent, ultra HNIs Strictly by-invitation-only! YES BANK launches Yes Private Prime credit card for affluent, ultra HNIs
MSMEs alert! Exclusive business credit card is here from Axis Bank, Rupifi - Check fee, features, benefits and more MSMEs alert! Exclusive business credit card is here from Axis Bank, Rupifi - Check fee, features, benefits and more
SBI Credit Card users alert! Tap and go! Mastercard introduces this new feature on app - Know benefits and how to use SBI Credit Card users alert! Tap and go! Mastercard introduces this new feature on app - Know benefits and how to use

Travelling overseas, especially for a vacation requires lot of planning and preparations as it involves not only hotel and airline bookings, but also a sound strategy about carrying your money safely in a hassle-free manner. Three things must be followed to ensure you find the best best way to carry money while travelling abroad: 1. it should be in a format that invites less risk, 2. it must give you flexibility to spend anywhere and 3. it must offer benefit of offering reasonable associated charges and currency rate fluctuation impact is limited. 

Before we list the various options, let us tell you what the best option for is? Do not rely on one instrument to carry money in an overseas destination. Go with multiple instruments. Carry some amount in cash as you may need some money immediately after landing in the foreign country. You can carry a credit card for emergency use. Consider carrying rest amount in prepaid travel card too as it is easy to use, can be used to carry multiple type of currency, it is safe to use, and it can be topped up anytime. 

Here is the best best way to carry money while travelling abroad:

Credit Card For Foreign Travel

Credit Card is a versatile financial product that gives us the freedom to spend money anywhere anytime. It is a great tool while travelling abroad as it takes away the burden of carrying physical cash. Before you travel abroad, do check if your credit card is qualified to make a transaction in foreign currency. If not, then ask the card company to enable it. While using the credit card in a foreign country, you need to pay the currency conversion cost which may vary from 1.5% to 3.5%. 

While using the credit card abroad, you must be careful about the place where you use the card to avoid fraudulent transactions. It would be wise to inform the card company immediately if you sense any wrong activity.

The advantage of using the credit card for foreign travels is that it is convenient to use and is handy for sudden plans. Some card companies give you extra points for spending money abroad. However, you should exercise caution while using a credit card as you may end up paying extra charges on your bill. Credit cards may not be accepted at all the places when you travel abroad.

Prepaid Travel Card Option

You can get the prepaid card loaded with desired amount on your doorstep by booking it online. You can also get it from your nearest bank branch as well. You are charged with currency conversion fees each time you use the card abroad. If there is any unutilised amount left in the card after your return, then you can easily redeem it from the issuing bank.

Prepaid travel card can be used for multi-currency transaction, i.e. if you are travelling to more than one country. 

Advantage of a prepaid card is its low forex charges and easy top up facility in case of shortage of funds.

Cash Currency

Cash is preferred by many people due to its quality of easy transaction, quick conversion and acceptance at all the places.

The most important benefit of carrying cash is that you don’t need to worry about money even if you are travelling to a distant location in the foreign country.

While carrying cash in a foreign currency, you always have the risk of robbery. For converting the local currency to a foreign currency, you may need to pay high conversion fee and commission. Also, if you are travelling to multiple countries, then you may need to carry different currency for different country causing unnecessary worry.

Debit Card To Carry Money

Like a credit card, you can carry money in Debit Card while travelling abroad. Ensure that your card is valid for international transactions. You can use the card till fund is available in your bank account. You can also set a restriction on the maximum transaction amount by requesting to the issuing bank.

Debit card is charged for conversion fee when you use it at foreign destination for withdrawing money or to pay at a merchandise.

By Adhil Shetty 

(Author is CEO, BankBazaar)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Credit Cardbest best way to carry money while travelling abroadprepaid travel cardDebit Cardcarrying cash while travellingMoney tipsmoney tips while travellingmoney tips for travellers
RELATED NEWS
Took Credit Card loan and turned defaulter over payment of EMI? RBI helps you this way, says money expert Pankaj Mathpal Took Credit Card loan and turned defaulter over payment of EMI? RBI helps you this way, says money expert Pankaj Mathpal
Never share your bank debit card details, PIN number  - this woman lost Rs 50,000 over food bill fraud Never share your bank debit card details, PIN number - this woman lost Rs 50,000 over food bill fraud
Strictly by-invitation-only! YES BANK launches Yes Private Prime credit card for affluent, ultra HNIs Strictly by-invitation-only! YES BANK launches Yes Private Prime credit card for affluent, ultra HNIs
MSMEs alert! Exclusive business credit card is here from Axis Bank, Rupifi - Check fee, features, benefits and more MSMEs alert! Exclusive business credit card is here from Axis Bank, Rupifi - Check fee, features, benefits and more
SBI Credit Card users alert! Tap and go! Mastercard introduces this new feature on app - Know benefits and how to use SBI Credit Card users alert! Tap and go! Mastercard introduces this new feature on app - Know benefits and how to use

LATEST NEWS

7th Pay Commission latest news: Central government employees alert! Your DA, PF, Gratuity, other allowance may change next fiscal

In chat with Anil Singhvi, Market Expert Ajay Bagga talks about increasing bond yields, its impact on economy and Bitcoin price crash

SBI share price: Decoded! Technical, fundamental share analysis for stock investors

Massive Update! PUBG Mobile 2 may launch next week | Check availability, download link and more NOW!

Anil Singhvi decodes Bitcoin status as just one tweet by Elon Musk breaks cryptocurrency by a massive $8000

UPSC exam: Plea rejected by Supreme Court! No extra chance to these civil services exam aspirants

ACC, UltraTech Cement, Shree Cement, Ramco Cement and more: Centrum Broking highlights details for Investors

Nureca IPO allotment status: Share subscription finalised! Check linkintime, bse, ipo registrar website - Know listing date

Gold Price Today – Gold price up by Rs 25, Silver by Rs 235 in morning trade after falling on Tuesday; Expert recommends this today

BOOSTER dose for Yes Bank! CDP rates ‘A-' (Leadership Band); achieves Environmental Management System certification for eighth year

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved