I’m Going To Europe – How Will I Access My Money?
This is a guest post from Tom of ActiveBackpacker.
It’s a common question, and one I will endeavor to answer within this article. Europe may be a continent of many different cultures and languages, but it does have one thing in common – there are lots of ATM’s!
So the best way to access your money whilst over there is to bring along a bank card or credit card. The only problem here is that a lot of standard bank and travel credit cards will actually charge you LOTS of money to withdraw funds in another country.
Fees you have never heard of will start popping out of the woodwork. Foreign currency conversion fees, for example. Or cash advance fees (but don’t you withdraw cash at home and it doesn’t cost you anything?). It’s a bit of a gimmick I think, many banks will seek to make a quick buck off your European adventure.
My suggestion is that you don’t bring along a standard bank card. Bam! Problems solved. Well, not quite. You still need to find something else to bring along instead. This is where you are going to have to do a bit of research – I don’t want to recommend any actual credit cards or banks in this article, but I can give you some tips in what to look for.
For example, my credit card that I always take with me travelling has no annual fee, no cash advance fees and no foreign currency fees. It does charge me interest AS SOON as I withdraw the cash, but honestly, this is no problem if I pay my card off regularly. This is much better in the long run, I don’t actually use it for ‘credit’ – it’s just a means of access for my real savings that I have back home.
My suggestion is that you try and find something similar to what I have. Search particularly for a bank account or card that offers no foreign currency conversion fees and no fees to withdraw money at an ATM overseas (no cash advance fees).
Many people don’t even think about this before they head off on a trip, and just bring along their normal bank card. This is a big mistake, and they wear the extra costs when they return from their trip and realize what their bank has been charging them.
So don’t be a dummy! Do some research on the best method for accessing your hard earned dollars when you are next traveling overseas.
Tom is the happy editor of a traveling website he writes articles about the best places to visit in Europe among many other hot topics.
