Top Ways to Avoid Bank Fees While You’re Abroad

A traveler has to face a lot of challenges while touring around the world. From transport to the currency, there are a lot of matters to look into. Among such matters is how to avoid bank fees while they are abroad. Foreign currency can be a very tricky aspect for travelers because of the confusion it causes for a traveler in a foreign land. If you’re traveling to another country where the currency is likely to be different, here are the best ways to avoid the bank fees.

1. Pick the Right Bank

The bank you opt for is going to have a huge impact on your experience with the foreign exchange. This is because all banks are entirely different when it comes to their policies.

When choosing the bank, it is important to go through their policies and see if they are friendly when it comes to international traveling. Most of the large banks would charge you increasingly because they want to maximize their profits. But when you pick and choose the smaller banks, the services will be limited. Based on your requirements, choosing the right bank is essential for your travels.

2. ATM Charges

ATMs are the most convenient way of withdrawing money. Because carrying cash in a huge amount can be risky, ATMs are considered the safest option even when you’re off to a foreign land. This is fine as long as the bank doesn’t charge you a ridiculous amount when it comes to withdrawing the amount.

Before you end up making transactions with the airline, you need to be clear what the ATM charges you for the transactions. This is important to understand because money spent on unnecessary transactions can easily be used for other transactions. If you still want to choose ATM for withdrawing money, ensure that you’re registered with a bank that is part of the Global ATM Network. Even when you’re expected to pay a lot for banks outside this network, it is a great option when you’re in a foreign land.

3. Say No to the Airports

Airports are the most expensive places when it comes to withdrawing money. Surprisingly enough, a lot of travelers tend to resort to the airport kiosks when it comes to transactions in foreign exchanges because they expect these kiosks to be extremely safe and reliable.

Although it’s very convenient to withdraw money from the ATM, they are generally the most expensive places when it comes to withdrawing money.

A better alternative is to carry a little foreign exchange for the immediate transactions when you’re traveling to a new place. As soon as you get hold of a convenient place where the foreign exchange seems reasonable, you can withdraw the money easily.

You can only avoid bank fees if you’re truly aware of the hidden fees the banks charge you when you’re dealing in the foreign currency. Carefully choosing the bank and studying its policies can help you to easily escape the costs.