The Easiest Way To Save Money When Travelling Abroad | Capitec (2024)

FAQs

What is the best way to get money when traveling abroad? ›

Credit cards are another great option for carrying money while out of the country. Credit cards are easy to use, simple to carry, and offer layers of protection thanks to their anti-fraud measures. In addition, credit cards are accepted at most places.

If you're travelling internationally, it's best to bring a no-foreign-transaction-fee credit card so you don't waste funds just because you're shopping in another currency. In the end, you may find it's best to have access to both cash and a travel-friendly credit card when travelling.

Travel credit cards

One of the cheapest ways of spending money abroad is a travel credit card. Like with debit cards, you can't just take any old credit card with you. Some will have non-Sterling transaction fees, as well as a hefty charge for taking cash out at an overseas ATM.

Use a debit card

Most providers will charge you for every transaction you make overseas, but you can find credit or debit cards that will cut the cost of your spending abroad.

Best Ways to Take Travel Money Overseas FAQ

A Travel Card gives you access to cost-effective currency conversion, enhanced security with PIN protection and replacement options, better control over your budget, reduced or zero foreign transaction fees, and can be loaded with over 45 currencies.

Using credit cards for purchases when possible and using ATMs to get local currency for when you need to pay cash are by far the best ways to pay for things when abroad because you will get the wholesale exchange rate rather than the less favorable retail rate posted in currency exchange facilities or at bank teller .. ...

Is it better to use debit or credit when traveling internationally? ›

Tip: A credit card may be your best choice for big purchases such as plane tickets, accommodation, transportation, car rentals and pricier meals so you have a record of larger transactions when you get home.

Before your trip, it's best to do a currency exchange at your bank or credit union, which likely offers better rates and fewer and/or lower fees. Your bank or credit union may buy back leftover foreign currency in exchange for dollars when you return.

Currency exchange shops and kiosks in airports are not the best places to exchange money. For the best rates, try a local bank or a bank ATM to make your currency exchanges. Check to see if your U.S. bank offers foreign ATM fee refunds for using a foreign ATM.

Study Abroad for a Semester or Year

You'll need to fill out a FAFSA form before you can receive federal student aid to study abroad. To determine which types of aid you'll be able to use for your study-abroad program, contact the financial aid office at your American school.

Cash & ATMs

ATMs are the best way to access money abroad and are increasingly available. Your bank or credit card company may charge fees for withdrawals overseas and may have a limit on the amount you can withdraw daily, so be sure to consult with your bank about this.