When traveling abroad, especially to countries outside the euro zone, where the currency is different, it is advisable carry cash with which to pay small expenses. However, it is not advisable to have too many bills, since we can expose ourselves to losing a good amount in case of loss, theft or other altercations.
To avoid these problems, we can use a credit card, with which, in addition to making payments, we can also withdraw money from ATMs. However, it is convenient to know what risks we face when prioritizing the card as payment method. And for this, from the Organization of Consumers and Users (OCU) they have prepared a guide with advice and warnings to take into account when choosing this option.
“Payment cards are almost essential to travel to any destination, since they are accepted in most stores in the world, which will allow you to pay for your purchases abroad,” says the organization.
Save on commissions
For OCU, the first thing to do is check at the bank with which we have the card what type of commission (if any) applies depending on the operation that you want to carry out.
“For withdrawing money from the ATM, a fee is usually charged. commission between 4% and 5% of the amount withdrawn. However, some debit cards allow you to withdraw money without fees abroad,” he notes.
Similarly, most cards also have commissions established. for currency exchange, which are applied both in purchases and in withdrawals of money where the currency is different from the euro. “The commission reaches up to 3% of the amount of the operation and is added to the one established for withdrawing money at ATMs,” explains OCU.
However, it is possible to find commission-free cards for currency exchange and that allow you to withdraw money at ATMs without commissions (or reduced). “Many are issued by neobanks like Rebellion Pay, Vivid Money or Revolut, making them a worthwhile option for your travels,” he recommends.
In addition, according to OCU, it is preferable to make payments in the local currency, if you can choose. “If you are outside the euro zone and the ATM or POS of the business offers you the possibility of making the payment in euros, it is better to reject this possibility and choose payment in the local currency: the exchange rate that applies in these cases It’s usually very damaging.”
Other risks
In addition to the extra costs that commissions can cause us outside our country, there are other recommendations so that payments abroad are safer and at the lowest possible price.
In the first place, it is convenient to estimate how much money is going to be spent daily and, consequently, set the daily limit for the card. Thus, in the event of loss or theft, we will ensure that no more than the stipulated amount can be taken from us and we will control our spending without more excesses than those stipulated. In addition, in case you need to increase the limit, many mobile banking applications allow you to modify it on the spot.
In the same way, the entities have specific and generally free telephone numbers to call from abroad and cancel the card in case of theft or loss. In many cases it is also possible to block the card directly from the mobile through the bank’s app.
Also, it is convenient to carry a second card in case the one you usually use fails.
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