What Are Good Ways to Withdraw Money While Traveling Abroad

Traveling abroad is great until you realize how difficult it is to use your cards everywhere or hold tons of cash at one time. Luckily, you can withdraw money conveniently while you travel abroad, You just need to know how to do it. Here are some ways you can withdraw money while you are in a different country.

Get a Reliable ATM Card

Some payment provider companies offer prepaid debit cards that you can use to withdraw money internationally. For instance, TaxCorporation offers a prepaid card that you can get to withdraw funds from international ATMs, so it is convenient to get funds while you travel. It is convenient for people who do not want to carry lots of cash while traveling, so you can feel safe while having a convenient way to have cash when needed.

Banknotes on a table.

Do Not Use Your Credit Card in an ATM

Some credit cards allow you to use them in ATMs, but it does not work like a typical debit card. Instead, a credit card withdrawal at an ATM is a cash advance. Typical ATM withdrawals with a debit card usually only involve the withdrawal fees. However, a cash advance involves high interest rates AND fees because you are essentially borrowing money. 

Find a Card with Fewer Fees

If possible, you can try to get a backup credit card to travel along with your primary credit card and debit card. While you may not be able to withdraw the funds physically using a credit card (if you want to avoid a cash advance) it will still come in handy while you travel. Some credit cards offer no foreign transaction fees, so you will save tons of money while you make transactions abroad.

Be Sure Cards Have EMV Chips

EMV chip cards are now considered a standard around the world, but some people may still have old-school cards that do not have EMV chips. This can shock you when you go to a foreign ATM because the ATM would reject a chipless card. Luckily, you can ask your bank if they can upgrade your card so it has a chip. That way, you can avoid that inconvenience and save yourself a lot of trouble.

Avoid Non-Bank ATMs

There are many non-bank ATMs, and they will be especially dominant in places like airports and tourist spots. However, you should avoid using them as much as possible. While they may be a convenient way to withdraw funds, they have horribly high rates. Try to choose bank-affiliated ATMs as much as possible.

Be Wary of Dynamic Currency Conversion

There are ATMs that offer Dynamic Currency Conversion, which is an option where you can bill to your current currency or the destination’s currency. It can be a good option in some cases, but you ought to keep an eye out on the rate because they have set rates. You should not use it unless the rates are similar to other conversion rates around you (like money exchangers) or lower, otherwise they will cost you a lot. 

Traveling abroad can be stressful, so you can get rid of one extra problem by trying out more convenient ways to withdraw funds while you are abroad. 

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