![]() ![]() ![]() These can also be free to spend on and make cash withdrawals with, but you won’t always get the best exchange rate with them. In addition, a travel bank account generally does not charge you anything for cash withdrawals (neither fees nor interest) – although some come with a limit on how much you can take out of the ATM.Īnother option is a prepaid travel card. Many digital-only providers, such as Starling and Revolut, offer bank accounts with debit cards that are free to use overseas, and you’ll benefit from the Visa or Mastercard exchange rates while spending. You also need to apply for your credit card in plenty of time.įortunately, there are plenty of alternative options to consider. To get the best deals, you usually need a good credit record. Not everyone will be accepted for a travel credit card. Missing payments risks hurting your credit score too. Some credit cards might also charge monthly or annual fees, and if you’re late making a repayment or miss it completely, fees also apply. One of the big drawbacks is that they often don’t offer 0% deals on purchases, which means that unless you clear your balance each month, you’ll pay interest on all your holiday spending. However, credit cards for travel won’t be the most suitable option for everyone. That's because the exchange rate you're getting is about the best you can find as a member of the public - with the Visa and Mastercard rates almost identical to those currency traders use for international transactions.Īnother major benefit is that you get automatic purchase protection on things you buy worth more than £100 and up to £30,000 thanks to UK credit card laws. Credit cards with no foreign transaction fees are often the cheapest way to buy something while abroad.
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