4 Ways to Pay When Traveling Abroad
When traveling abroad, you can use several payment methods conveniently and securely. Here are four ways to pay when traveling internationally that can save you money and time, so you can focus on your trip.
1. Credit Cards
Credit cards are accepted in most countries and are convenient for large purchases, such as hotel bookings, car rentals, and dining at restaurants. And many credit cards offer built-in security features such as fraud protection and zero-liability policies, so they can be a safe option.
Some credit cards have foreign transaction fees, typically around 3%, so be sure to look for cards that offer low fees. Also check exchange rates and understand how your credit card company handles currency conversions before you travel.
2. Debit Cards
If you plan to use your debit card while abroad, be sure to check with your bank first. Some banks, like KeyBank, do not require travel notification. Other banks may flag debit card usage abroad as a suspicious activity if they're not notified. Debit cards are good for smaller transactions like grocery shopping, public transportation fares, and souvenirs. They can also be used to withdraw local currency from ATMs abroad. However, check out the international ATM fees and foreign transaction fees before your trip.
3. Cash or Local Currency
Carry a small amount of cash in the local currency for emergencies, tipping, places where credit cards are not accepted, or when traveling to remote areas. You can exchange your home currency for local currency at banks, currency exchange kiosks, or ATMs in the destination country. Keep cash secure in a money belt or hidden pouch to minimize the risk of theft.
4. Mobile Payment Apps and Digital Wallets
You may want to consider using mobile payment apps such as Apple Pay, Google Pay, or Samsung Pay where available and accepted by merchants. Mobile payments reduce the need to carry physical credit cards and can be used for quick and secure transactions. Before using, ensure your mobile payment app is compatible with international payment systems and confirm with your bank any fees they may charge for overseas usage.
By paying with a combination of these methods based on your destination and spending needs, you can help keep your trip convenient and your money secure. No matter what, always have a backup plan and double check with your financial institutions to see if they require travel notifications to avoid disruptions in credit and debit card usage.