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Ways To Carry Money When Travelling Abroad

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Among the worst things that can happen on a trip abroad is losing your money. That said, even if you are visiting a destination with an unsavory reputation for pickpocketing, there are ways to work around it and keep your money safe. Here are some travel tips to help you safely carry money when traveling abroad.

What are your options?

Before you embark of a trip abroad, you should be familiar with different formats in which you can carry money with you. The most popular options are:

  1. Cash in foreign currency: you should carry at least some amount in foreign cash. This can be used to make small payments and payments at stores that do not accept cards. If you are in a country where one is expected to tip, cash can come handy for that as well.
  2. Travel cards: multicurrency travel cards are prepaid cards which allow you to make payments in a range of different currencies. These are a good option as they allow you to earmark funds for expenditure and also help you avoid transaction charges that would be usually levied on using debit or credit cards.
  3. Credit cards: Credit cards give you access to a set credit line, and may also provide additional privileges like access to airport lounge or travel insurance. But remember every time you make an international transaction you will be charged a fee.
  4. Debit cards: Debit cards can be used to spend money directly from bank account. If you choose this for transactions, the daily currency exchange rate will be applied and an international transaction fee may also be charged.
Split it up

When travelling abroad, make sure that you split up the money you carry into multiple formats. That is, carry some as foreign cash, some as travel cards and some in form of international credit and debit card. Obviously, you may not use the costlier options under normal circumstances – but they can come handy in case of an emergency. Also, make sure that you store the monies in different bags/jackets etc. to ensure that you don’t run out of money if one of the bags is misplaced or delayed.

Set up smart devices for payment

One of the safest ways to make payments abroad is by using electronic money. You can use your smart devices to do the same. Further, you can setup your smartphone and smartwatch to act as your credit card and not actually carry physical cards with you! But remember not all vendors will have the technology to accept payments through such devices.

Get creative with your wallet

A traditional wallet could act as a beacon to pickpockets. Someone looking to swindle you will look for – and maybe only for – the wallet. So, you should use unusual wallets. For example, you can use a small make up bag to carry cash and cards. Some travelers use cigarette cases or old pill bottles for the same.

Regardless of where you are traveling, losing your monies can be a very distressing experience. Always purchase travel insurance that would cover you against such scenarios and will provide you emergency cash when needed.

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Disclaimer : The information published on this website is for the public's reference only. Content of this information is to provide an overview of your Travel needs and should not be relied upon for personal, medical, legal or financial decisions and you should consult an appropriate professional for specific advice. Bharti AXA General Insurance Company Limited makes no representations about the suitability, reliability, timeliness, and accuracy of the information, travel, services, or any other items mentioned on this subject for any purpose whatsoever.

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