When you have to “take the hit” on one or two occasions on which you’re perhaps just going away for a vacation, all the extra fees which come with handling your money across borders really aren’t a big deal, but all those little extra charges add up if you travel more frequently. You start noticing just how much you’re actually spending without getting much value out of it, apart from being extended the “privilege” of being able to handle your money outside of the borders of your primary country of residence, of course.
Let me put it this way – if you travel more than once within a period of six to twelve months then you definitely need to handle your money matters a little differently. You need to handle your financial matters like the roaming soul you are and naturally this implies going beyond the traditional banks and even those money exchanges you often see in their numbers permanently camped out at airports.
Use your debit or credit card as your primary value storage facility
Your primary bank card which is the one linked to your primary bank account should be kept safe at all times and so I suggest it should never leave your hotel room safe while you’re enjoying your destination. This is essentially your “fall-back” means of gaining access to your funds, but what’s great about using your debit or credit card directly is that there are no fees at the various Points of Sale around the world.
Get a reloadable, pre-loaded debit card
So if your primary bank card is to be kept safe then you should avoid hefty ATM fees and even heftier money-exchange fees by loading some money onto a prepaid debit card and using that at the Points of Sale.
Use cold-hard currency strategically but sparingly
I swear in some countries your card is accepted literary everywhere, even among street vendors, but you will definitely need a little bit of physical currency for those instances when it would be impractical to use your card. Otherwise cold hard currency is slowly becoming obsolete in many parts of the world, so get with the trend – it makes for a good security practice as well.
Seriously, PayPal can come in very handy as a payment processor which can be used to minimise transactional costs, but also to pay for goods and services at those physical retailers who have integrated PayPal as a convenient pay-point processor. This is mostly available in the U.S.A and in some countries across Europe, but yeah, PayPal goes way beyond just making for a way through which to send and receive money digitally, mostly used by those travellers and other people who make their money online.
I mean you can now also go online and play casino with PayPal since more and more of the credible online gambling platforms have won the favour of the world’s best-loved online payments processor, so that covers a huge chunk of what you’d otherwise waste in transaction fees for your entertainment while out on the road.