There was a time when traveller’s cheques used to be your best friend while visiting a foreign place. There was no forgetting that bulky packet of cheques which was supposed to be the safest way of carrying money abroad. Thankfully those days are long over. New technology has created better tools for travellers to have instant access to money. Travel card, for instance, is quite convenient for frequent travellers; but getting the right card for the right situation will require some nifty research. A small amount of cash will always come handy when you first reach a destination and also for some establishments which do not accept cards. But mostly travel cards are extremely handy while you are visiting a foreign land.
Travel cards are sold by most of the financial institutions where it is possible to pre-load the card with foreign currencies. This travel card can be used to buy things overseas and can be used for ATM withdrawals as well. With all travel cards, you have the benefit of locking the exchange rate for the fund that you have loaded in the card. This is good, as you will not have any unexpected currency variations for any transaction later. However, if you ‘run out’ of the currency that was loaded on the card, the amount will be deducted from other currencies. You will have a new conversion fee and a new exchange rate as well. Travel cards are extremely safe, because they are not linked to the regular bank accounts. Plus it is PIN and chip protected. For security reasons, you will have a spare card as well. Some companies have the options of multi-currency travel card service which will actually eliminate possibilities of varied exchange rate. To know more, you can check out Weizmann Forex’s Multi-currency travel card options.
Ask any avid traveller and he or she will tell you that choosing a mix of cards will suit your needs. You can have a regular traveller card for your regular expenditures. Add a credit card in the bunch for emergencies and keep some foreign exchange handy because you might like some souvenir in a small shop and they will not accept any card. Think about your trip; is it a short one or a long one where you travel to different destinations? It is always better to do some research about the currencies that you will need and whether there are any specific restrictions for foreign travellers. In Europe for instance, you should double check the currencies, because not all use Euro. If you want, you can also register for online card service management tools, so that you know the ways of using them beforehand. It is good to remember that you cannot use travel or debit cards over the counter in banks or to make withdrawals.
If you are going overseas, you must let your card provider know about it. Card providers are constantly looking for forgeries, and if they find any sudden transaction, they might just deactivate the card. So, it is always better to give your provider a quick buzz before you go! While most travel cards are protected and secured, to ensure that you do not fall prey to any fraudulent activity, you must check with your provider about your transactions. When you are in Rome, behave like a Roman; in other words, you must convert your currency to local money before you make any transaction. You really do not want to pay a higher currency conversion rate!
Take note of a few things; and your travel card can be your best friend during your holidays!