Travel is fun but travelers often make costly mistakes when traveling abroad. We’re here to help you avoid the pitfalls. With a little bit of planning, you can save yourself from costly money mistakes when traveling.
Also, make sure to read up on avoiding Cyber Scams when traveling.
There has to be a better way!
Avoid Travel Money Mistakes: Charge it.
Credit cards are widely accepted around the world. Here are our simple rules for using credit cards abroad:
- Check your credit and debit cards for PIN numbers. While not common in the US, pin numbers are sometimes needed in other countries.
- Bring at least two cards. If one gets lost, stolen or frozen due to a fraud alert, you want a back-up. We once landed in Norway for a two-week trip only to get word from our credit card company that our primary card was frozen due to a fraud attempt. Fortunately, we had brought a back-up card.
- Check to make sure you are using a card that does NOT charge foreign exchange fees. If yours does, find another for travel. Also, do NOT use your credit card to get cash from an ATM. You will be paying big fees. Instead take your debit card for ATM withdrawals.
Avoid Travel Money Mistakes: Your Phone
Nowadays, your cell phone is your lifeline to the world. Be sure to be careful with how you use it while traveling.
- Put your phone in airplane mode the minute you get on a cruise ship. We have seen people charged hundreds and hundreds of dollars in cell fees because they did not.
- Use an app like WhatsApp or Signal so you can make free VoiP calls to family and friends. Make sure your friends are on the same system.
- Think you’ll use Uber abroad? Uber sneaks in a 1.5 percent fee for paying in dollars instead of the local currency. To avoid paying the extra cost, go into your account, open your “Wallet” and, under “Preferred currency,” select “No preferred currency.”
Avoid Travel Money Mistakes: Common Sense Safety
- Stay aware of your surroundings and do not leave a bag or backpack unattended even for a few minutes.
- Keep a picture of your passport on your phone or in the cloud in case a replacement is needed. Also, keep a picture of your luggage on your phone. If your luggage does get lost, this will make recovery easier.
- Check the network of the ATM before you use it. Those no-name machines in hotels or corner stores often come with inflated fees and terrible exchange rates. Use one affiliated with major international banks—HSBC, Barclays, Santander, etc.
- Know before you go. Most European countries are now almost entirely cashless cards are accepted everywhere. But countries like Egypt, Morocco, Philippines and Japan, are still cash based. If you think you may return, save those spare Euros or Pesos in an envelope for your next trip.
There were a lot of tips in there! Keeping your money safe is an important thing to keep in mind when traveling. With these tips, and some common sense, you can enjoy your travel to the fullest without worry!
