Many of you may already be planning your next winter vacation. And, although most travelers tend to think about even the last detail, sometimes they are not aware of also planning payment methods. Experts from the financial comparator HelpMyCash.com warn that using the usual bank cards can generate hefty commissions once you are outside of Spain. For this reason, they have compiled a series of tricks to avoid the extra costs of these plastics.
There will probably be commissions that can rise above 10 euros per operation after adding the costs charged by the client's own bank and those applied by the country where they are located. Luckily, from HelpMyCash they assure that there are some designed to travel. Of course, it is essential to know well the limitations of each one because even the most attractive impose limits.
The first thing to take into account is whether you have a debit or a credit card, since a commission will be applied depending on the type of plastic, higher in the case of the latter. Withdrawing money in cash is one of the main costs that a traveler abroad will face, recall the experts of the financial comparator.
There are some cards that allow you to withdraw a limited number of times for free. From HelpMyCash they advise to make the least possible use of these ticket dispensing machines, so the ideal is to withdraw a larger amount in each withdrawal.
The so-called surcharge fee is added to the commission for withdrawing cash. This is a commission that the bank that owns the ATM charges anyone who uses its services without being a customer. In any case, it should be noted that it is regulated in the euro economic area. In countries such as Italy, Germany, Belgium, Finland, France or Greece, among others, it cannot exceed 0.2% on debit and 0.3% on credit.
However, outside the euro, in geographical areas such as Norway, the United Kingdom, the United States, Thailand or Canada, it is not regulated. The surcharge fee can range there in a range between zero and 25 euros per transaction.
In the event that the money is withdrawn on credit, it should not be forgotten that the cost of the financing line itself will be added, that is, the interest rate -TIN and APR- of the card. If you travel to a country with a foreign currency, you will encounter foreign exchange fees.
The experts of the financial comparator have selected two perfect cards to travel around the world:
The Abanca Tú NX card is completely free for all customers between the ages of 12 and 34. In addition, it is a card with no issuance or maintenance fees and that does not apply fees for currency exchange, nor for the first five monthly cash withdrawals outside of Spain. From the sixth, it imposes a commission of 1 euro per draw.
With very similar advantages is the Visa Contactless card from Revolut. There are no annual fees, neither the card nor the account, and you can withdraw money for free at any ATM in the world with a maximum of 200 euros per month. In addition, there is no commission for currency exchange on business days (Monday to Friday) or any other surcharge.
