When traveling abroad, it is essential to plan payment methods to be used. Although many choose to take money in kind, this strategy is not always the safest. Bringing with it all the amount needed for the trip may seem practical-the use of lifting cards and rates is avoided-but in practice it can become a high risk. Losing a wallet or being the victim of theft can compromise the entire trip, especially if there is no alternative plan. Find out the care to raise money abroad.
Exchange rates
Another factor to take into account is the exchange rate. This rate, which indicates how much of foreign currency is received by each euro, varies daily. Therefore, it can be advantageous to exchange money before the trip if the currency of the destination country is valuing. On the contrary, if the trend is devalued, you may pay off to make the exchange rate or raise money just later, while during your stay.
If you choose to raise money abroad, there are several important aspects to consider. One of them is the type of automatic box (TMJ) that uses. In Portugal, surveys are often free among national banks, but abroad, the reality is quite different. Machines belong to local banks and sometimes only accept cards from institutions with which they have agreements.
Variation inside and outside the EU
It is common for Portuguese banks to have partnerships with other institutions within the European Union, which facilitates surveys. However, outside the EU, these partnerships may be limited. Therefore, before traveling, confirm with your bank where you can raise money without complications or added costs.
Cards must be compatible
Also, not all cards are accepted in all countries. Most Portuguese cards belong to Visa, Visa, Electron or Maestro networks, which are widely recognized. However, in less common destinations or with different banking systems, it should be seen compatibility.
Avoid credit card
Another relevant issue is the distinction between debit and credit cards. Credit card surveys – also called Cash Advance – are usually subject to higher fees and may imply interest payment if the amount is not settled on time. For this reason, credit card should be used in moderation for surveys, but may be useful in payments or emergency situations.
Still in relation to costs, it is important to clarify that within the euro zone there are no survey committees. However, if the survey involves currency conversion (for example, raising pounds in the UK or US dollars), the bank will charge fees and commissions, both for operation and currency conversion.
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Pay directly by card
Alternative to surveys, you can choose to pay directly by card, according to the. This option may also have costs – especially outside the EU – but as a rule, the commissions associated with payments are lower than those charged in cash surveys. Still, not all establishments accept cards, and not all cards work on all terminals.
Enter your bank
Another essential recommendation is to inform your bank about the trip before leaving. Many banks have automatic security systems that block the card if they detect unusual activities such as successive surveys in foreign countries. A simple notice can avoid many disagreements.
Card safety must also be a priority. Avoid lifting large amounts at once and prefer safe machines such as banks, shopping centers or airports. Be aware of the environment around you and always cover the keyboard when you enter the PIN code.
There is the option of prepaid cards
Nowadays, there are also prepaid cards or digital accounts (such as Revolution, Wise or N26) that allow you to carry money, make payments and raises at lower fees. These solutions are practical, safe and offer good exchange rates – being an interesting alternative to traditional cards.
If you travel frequently, find out on cards that exempt or reduce international commissions. Some banks provide accounts with specific advantages to those traveling a lot, including free surveys worldwide.
MULTIMOEDA CARDS
Another option is the multi cards, which allow you to carry multiple coins in one account and pay directly on local currency, avoiding additional conversions and commissions.
Finally, it should be recalled that each country has its own rules and different levels of acceptance of means of payment. In countries like Sweden, physical money has almost disappeared, while in destinations such as Morocco or Cuba, the use of cash is more common. It is therefore important to adapt to the destination.
Traveling with a balanced combination of cash, debit card and eventually credit card or prepaid is the best way to ensure security, flexibility and cost control.
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