Everyone knows the problem of travel banks and so far, we are looking for solutions to better reduce bank charges, especially for people who want to travel around the world or for a long trip.
BANK CHARGES: WHAT ARE THEY MADE OF?
Generally, bank fees are made up of three important things: account maintenance fees, transaction costs and the cost of the bank card. Maintenance fees are monthly, quarterly or annual fees starting from the opening of a client’s account at the bank, these costs can reach up to two to three euros per month and 20 to 30 euros per year. The transaction cost which is composed of four types including bank charges, exchange fees, ATM fees and transfer fees. And finally, the cost of the bank card, this card exists in two types, the MasterCard and the classic Visa which costs 30 to 40 euros on average per year. These cards are available as premium, MasterCard Gold and Visa Premier, which cost 130 to 150 euros per year.
PREPARE BEFORE DEPARTURE
Before leaving, you have to be well prepared, you never know the situation, theft, loss or blockage. It is therefore necessary to check with your bank, the validity of your credit card, the means of communicating with your bank, the maximum number of withdrawals or expenses allowed without forgetting to let it know your departure in order to avoid blocking your card. So, choose two cards, one can help you if the other does not work or is lost. Indeed, if you plan to open a second bank account or simply change your offer, you need at least two weeks before departure so that you will be comfortable during your trip. In addition, you must inform one of your relatives of your departure in order to ask them for help in case of problems, especially money.
CHOOSE THE BEST BANK
Choosing a bank during your trip is not easy. There are two types of banks for travellers, including traditional banks (savings banks, Société Générale, etc.) and online banks. The fees of traditional banks are very high, you are not obliged to change banks if you already have an account, but it is better to complete it with an online bank that will be more beneficial for payments abroad. Online banking offers you good rates abroad for your withdrawals and payments by reducing holding fees, you can choose among the most popular online banks like N26, C-Zam, Revolut…