Hospitality
Banking abroad is more
than just using your card at an ATM or using Point of Sale. So, when you travel
abroad and you want to perform any transaction, you must know how to avoid
paying bank fees, eliminate foreign transaction charges, and get a good exchange
rate. If you do not, you will discover that your bank will have a field day
deducting fees for banking transactions. In line with this, Jumia Travel, the
leading online travel agency shares ways you can reduce bank charges when you
travel abroad.
Eliminate
ATM fees
ATM fees can really add up
because while travelling, you will probably withdraw money from an ATM. Of
course, you already know that ATM fees vary around the world. With this at the
back of your mind, you should get a bank in the Global ATM Network. This is a
network of large banks that have removed fees and allow for free ATM
withdrawals.
Don’t
use ATMs in weird locations
Using ATMs you find at
random places is not really a good idea. They may be convenient but they always
charge high ATM fees and their exchange rates are high. Avoid such ATMs and
find a major bank to get cash.
Never
change money at airports
Most exchange bureaus in
airports do not offer good exchange rates. The rates at airports are usually
unfavourable. As such, do not change your money at the airport except you have
to.
Exchange
with other travellers
If you end up with extra
local currency at the end of your trip, consider selling it to another
traveller. You will probably get a better rate and you can avoid all bank and
conversion fees.
Download
the XE app on your phone
It's always best to know
the exchange rate for the country you are travelling to. The XE Currency App is
perfect for this purpose as the app automatically updates every day with the
exact exchange rate.
Leave your comment.
No comments:
Post a Comment