Travel payment guide

There is no worse nightmare then being stuck in a country far from home without access to your money. To avoid ever getting in that tricky situation, read this article!

1. Bank cards which won’t work
2. Why you NEED an international payment card
3. Criterias to consider when choosing your card and suggestions
4. alternative money sending services which might save you
5. Cash
6. How to carry around your money
7. Checklist bank set up before you leave

1. Payment Cards which won’t work!

If ever your country is like Germany and has it’s own parallel payment card system like EC cards, please be aware that they most probably won’t work as soon as you cross the border of your home country!

If you’re living with your parents and still have a “bank card for kids” because you just never needed another one, be aware that know you will. These cards have very low payment limits per week that can’t be changed and almost never work in any other country then your own.

→ Cards which have a very strong Network worldwide and will work almost everywhere are Visa and Mastercard. Look out for that!

2. Why YOU NEED to get an international travel debit/ credit card

It is not natural that your bank is represented in every country of the world! By far not every bank has such a Network. If our card is Visa or Mastercard, it might still work because of the card Network, but there is no guarantee for that.

The odds are high that your bank doesn’t offer you an international option, which enables you to withdraw and pay abroad in foreign currencies without fees. If your bank even works, it will probably take a 5-10% fee or a fixed price at every withdrawal and payment you make. So if the only ATM you can find that works with your card has a limit of 100€ per withdrawal and your bank charges you 5€ at every withdrawal, you can imagine how much that adds up!

On top of that, some banks will give you very bad currency change rates, so you’ll end up being taxed more then 5% at every euro you spend.

On top of that, their support service will probably not be adapted for your needs. If your bank cards gets stolen, there is a good chance that they can only send you a new one inside of your home country, so you’ll be stuck at the other end of the world with no bank card.

To prevent this nightmare situation, I would strongly recommend that you take more then one bank card with you! These are the criterias I would advice you to consider:

• At least one of your cards should be Mastercard or Visa.
• One of these 2 cards should be a credit card, as there could be situations in which debit won’t work. The most prominent example for that is when you want to rent a car. Most of car rental agencies will require you to have a credit card at the name of the driver.
• One of these 2 cards should allow you to pay and withdraw cash wihtout fees and with the current international currency change rate.

3. Which cards should I get?

If you’re german, you should definitely read this article: link blog viel unterwegs

These are the most important takeaways of her article (here in english for you):

• Classic banks probably won’t have any interesting international options for you
• Neobanks are fast and convenient to get, but if you get your card stolen, it might take some time and effort to get the money back, that was stolen from your account before you could block the card.
• Aim for the online bank of a classical bank. They give you all the travel options you need but have a better guarantee for your money as they are backed by institutional banks. These cards might take more then a week to get though.

If you’re not you should try to find a travel blog article that compares best options for your country.

If you’re reading this article a week before flying and are wondering where you can get an international travel card with this short notice, know that you’re not the first person, and that you still have options:

• N26
• Revolut

4. alternative money sending services

Good news: nowadays there are services which allow you to send money worldwide within minutes with very reasonable fees!

These are the most well-known and credible services:

• Western Union
• Worldremit
• wise

This is how it works:

• download the app on your phone or use the service in your browser
• set up your account(probably will require you to identify with your ID)
• choose which country you want to send money to
• Fill in the personal information and passport or ID number of the person you’re sending money to(can be yourself)
• That person can then go to whichever branch office of that service(often in every town) and pick up the money as local currency cash within minutes. They will have to show the transaction number, their physical passport or ID, and will need to go in person.

You can find branch offices of at least one of these three almost everywhere in the world. Before sending money over one of these services, check frist which of these branch offices will be most convenient for you.

I would strongly advice you to download these apps and set up your account there already before leaving, because it will give you peace of mind that you’re prepared for any situation.

3. Cash

There is nothing worse then having no cash with you when you’re traveling! But when you’re traveling between countries with different currencies, there are chances that you just won’t be able to change the next currency you need before being in that country. To make sure ou always have a currency that people will accept to at least change you, I would advice you to take carry some US dollars in cash.

On the other hand, I would advice against having too much cash with you as it makes you vulnerable to robbery. I would recommend that you carry at least 100 dollar, and max 300 dollar in cash.

7. Checklist before you leave

1. Know your cards PIN. Contactless probably won’t work abroad!
2. Tell your bank where you’re travelling and when! If you don’t they might think it’s a fraud and Block your card! Some cards cannot be unblocked and they’ll have to send you a new one! Trust me, you don’t want this to happen to you.
3. Change telephone number saved in your bank account for the two factor authentification to the number of one of your parents or a person that you deeply trust, and know will keep their (home country) number during the time you’re travelling. Why? Because after some time, your online banking app will ask you for two factor authentification. If you are in a country where your SIM doesn’t work, you’ll be left with no access to your bank account and therefore unable to buy anything online or do any money transfer.