When traveling overseas there are quite a few things to prepare for that can be overlooked. One of the biggest ones can often be how to plan your financial house to keep it in order and avoid loosing too much in terms of fees and exchange rates. The good thing is that there are a lot of banks out there that have put together products that can help you save while on the road. I’ve put together a list of some sound financial advice before you travel that will help you find the right services to keep everything in order.
The first thing you want to do is compare bank accounts before you travel and find the right option for you. Look for a bank with easy online access and try to find one that doesn’t charge you ATM withdrawal fees internationally. The trick here is to find the right account for you and your travel style. If you do find an account that meets most of your needs but still charges you a withdrawal fee for an ATM or debit card, there is always the second option, Credit Cards.
There are literally thousands of different credit cards with a wide range of options for you to apply for. Many that are issues by banks can offer more options and perks than those offered by credit card companies alone. I look for 2 – 3 key features when looking for the right card for me. First of all I look for a card that wont charge international currency exchange fees, then I look for a card that has little or no annual fee. After those two qualifiers are met, I look for the card with the rewards program that is best suited towards our travel needs. Not all programs are made the same. Look for the one that partners with the brands you already use the most for the best benefit. If you can’t find one of those, go for the cash back option and use it as you see fit. Many cards even offer the option of taking the cash back and using it to pay off the balance, which is double handy.
With a little time and research you can find a great bank that will help you keep you financial house in order while you travel. The key is taking the time to find a keep a banking relationship that works for you.