There is absolutely no doubt that traveling is not really the cheapest hobby in the world, right? While this is the case with pretty much every type of travel out there, it is especially the case when you are traveling to a foreign country. Also, this is especially true when you are using your credit card to deal with all the financial stuff that you stumble upon during your trip. One very important thing that you need to remember here is that banking overseas involves so much more stuff than just putting your credit card in the nearest ATM machine that you can find. That being said, if you are planning on visiting a foreign country in the near future, there is a couple of really important things that you need to know. Knowing how to get rid of foreign transaction rates can help you save a whole lot of money in the long run. Also, you should learn how to get good exchange rates in a foreign country, as well as how to avoid paying bank fees.
You would be surprised to see just how many people travel overseas and pay ATM fees only to get hit with high foreign transaction fees. But this situation actually doesn’t have to be that bad at all – you just need to know how to avoid stuff like this. After all, you didn’t spend all those weeks and months saving up money just to spend it on unnecessary foreign transaction fees later on, did you? We can safely assume that your original plan was (and still is) to keep all that hard-earned money for yourself, right? Also, we don’t know how good you are with math, but it is actually not that complicated here – every single foreign transaction fee that you manage to avoid means that you get to spend more money not just on food and drinks, but on fun activities as well!
Get Rid of ATM Fees
Did you know that ATM machines in foreign countries can actually take a significant amount of money from you every single time you use them? That is exactly why it is very important for you to know how to eliminate those nasty foreign transaction fees. With this in mind, if you don’t really like the idea of spending money on foreign ATM fees, you should try using your bank’s partner ATMs. If this is not an available option for you right now, try to get a low-fee credit card instead.
Using ATMs in Weird Locations Is a Bad Idea
Don’t use ATM’s in weird locations. With that said, if there is an ATM machine standing in the middle of your hotel, simply don’t use it. These ATMs usually charge pretty high transaction fees, which means that using them wouldn’t be your best solution.