Going for an international tour is fun, but one has to be well prepared for it. You cannot afford to struggle financially as any international trip would be expensive. Here is 8 Ways to Financially Prepare for Travel Abroad:
Keep the card companies updated
It is a wise idea to call up the bank and credit card companies and update them about your travel plan. Tell them about the travel dates and the amount that you would be withdrawing. This will ensure that the companies will take extra efforts to prevent any fraudulent activities.
Bank emergency number
As you will be on an international trip, your local number may not be valid. The rates will also be higher. Thus, it is better to ask your banks the alternative ways to contact them in case of emergencies.
Know your pin
There are chances that we forget the card pin numbers. Remember, it is a 6 digit number. Since, you are on a travel plan; you can request your bank personnel to change it to 4 digit number. Play safe!
Know the transaction fees
You cannot afford to ignore this, nor can you turn a blind eye to it. Every transaction you make will have an additional cost. There is a 3 percent charge on foreign transactions. If you are also withdrawing cash in abroad, be prepared to be charged. You can call the customer care and check all these transaction details.
Transfer money from savings to checking account
As mentioned above, the cash withdrawal has an additional charge, it is better to transfer your amount. The amount that you kept in your savings account must be transferred to checking account. This is surety that you have enough funds to make your trip memorable.
Take some foreign currency
The currencies varies from country to country, hence it is a good idea to carry some foreign currency. Though, you can opt for currency exchange after reaching the destination, however few currencies must be carried. You might need them to use for local travel or to reach the hotel. In such cases, foreign currency is required. The dollar is mostly accepted in all the countries. You can carry few dollars with you.
Check the currency exchange rates
Do not blindly travel without even knowing the exchange rates. Keep a separate budget for your trip and ensure that you are aware of the currency exchange rates. This might save you from the financially burden.
Know about chip cards
You can carry chip cards as many stores accept these chip cards.