Going on an international trip out of Australia is always a planned event. You book your flights and arrange your accommodations. However, there is another aspect of your trip that people do not think about until they are already halfway through their trip. This is how they are going to manage their funds while they are out of the country.
Using a regular bank card is not advisable, especially if you are planning to travel frequently. This is where the need for an international debit card comes in. If you know the key features to look out for in the card, you are going to save some serious cash and keep your funds safe while travelling to new destinations. Therefore, the difference between a good trip and a great trip is how well you manage your travel funds.
The first thing to look out for is the fees involved in using the card.
Waiving Foreign Transaction Fees
Australian banks charge their customers foreign transaction fees every time they tap their card while abroad. This is not the best option if you are planning to go on a holiday. With the best international debit card from the likes of ING Bank, there are no foreign transaction fees at all. This is the most important feature that you need to look out for in the card.
Finding the Mid-Market Exchange Rate
The next thing to look out for is the exchange rate. This is where some cards are offering the mid-market exchange rate, which is the same rate at which the banks exchange their currencies. This is the best option because you get the best value for your Aussie dollars. However, there is no need to get the card if the service provider is charging high markups in the exchange rates.
Essential Security Considerations
Ensuring your money is secure in a foreign land is also essential. Losing your wallet in Paris or Tokyo is bad enough; losing money from your account is not something you want to deal with.
An international debit card that comes with an extremely responsive mobile application is what you should be on the lookout for. Such an application should allow you to freeze your account or your debit card with just a click. Losing your debit card is not uncommon, but with such an application, you could freeze your account in an instant.
If you happen to find your debit card at the bottom of your bag, you could then go ahead and unlock your account. Moreover, fraud protection is something that cannot be compromised on. The best international debit cards offer instant notifications for any unauthorised transactions. Such notifications would be sent to your mobile device in an instant if any unauthorised transactions were made on your account.
Global Accessibility Factors
Even in today’s highly digital world, there is still something said about having cash on you in foreign lands.
While having access to a global ATM network with no or low fees is extremely beneficial, having access to digital wallets is also extremely important. Having access to digital wallets such as Apple Pay or Google Pay is extremely important. Adding your international debit card to your mobile device is extremely beneficial. You could then safely store your physical debit card in your hotel room’s safety deposit box. You could then make purchases using your mobile device.
Having access to digital wallets is extremely beneficial. Having access to a global ATM network with no or low fees is extremely beneficial. Some banks even refund fees incurred on using third-party ATM machines.
Travel with Complete Financial Freedom
Having the right travel card is key to making your international money management experience perfect. By focusing on low fees, competitive exchange rates, security, and accessibility, Australian travellers will be able to enjoy their trips without worrying about money. Take your time and compare your options before your next flight. A good decision will get you more money for the things that matter!
