One of the biggest headaches for any traveller is trying to manage money on the move. The number of cards I’ve had cancelled as I wait to pay for a bill or put my card into an ATM to discover its cancelled is not even funny. Follow these simple tips and you can avoid the biggest problems.
The Right Account
Twenty years ago you wouldn’t have dreamed of leaving the country without a fistful of travellers cheques. Nowadays the choice is between credit or debit. Personally I think easy access saving accounts can be great to travel with as they let you get at your money wherever you happen to be.
Inform Your Bank
Whether you are going on a weekend escape in Paris or organising a Round the World Trip you need to let your bank know that you will be travelling. If you don’t do this then the bank will freeze your account, which is a good thing if it’s fraud, but bad when you are trying to pay for a train ticket!
Internet banking is a godsend that lets me manage my money as I travel. At the click of a button you can track how much money you have in you account, and even transfer money between accounts. This service is not just offered by the large national banks, but also by local banks such as Birmingham Midshires.
The only way to avoid problems with money as you travel is to make sure that you have multiple accounts from different banks. This essential safety precaution in case your bank freezes your account or one of your cards get stolen.
Have Emergency Cash
One of the best tips I can give for managing your money as you travel is also the simplest; make sure that you always have some cash on you! This is especially important when you are arriving in a new country as this is when your bank is most likely to suspend your credit or debit card. I learnt this lesson the hard way and although everything turned out ok, I guarantee this is not something you want to deal with!