Cozmo Travel understands the need of travellers to be well equipped with cash or relevant foreign currency while they are at their favourite destination. Travel plans to destinations away from your home country require travellers to carry either currency, cards be it debit cards or credit cards and prepaid cash cards. This brings all travellers to a vital question, and that is how do we carry our money while we travel? This is probably one of the most common question that occurs to every traveller when planning out a trip abroad. This also brings to the fore the convenience of carrying foreign currency while in a foreign destination.
Travellers prefer carrying cash as an option as this can be exchanged at airports or banks for local currency. Or additionally, they can may carry a traveler’s cheques and nowadays carrying an international debit or credit card is also a preferred option for transacting aboard as well.
What About International Credit Cards?
- Definitely a preferred option if travellers are in locations that accept international credit cards and such cards are also preferred when there is a lack of international fees.
- We recommend travellers to select cards that either have no annual or start up charges or are associated to minimal charges.
- International credit cards are chosen due to convenience. Travellers will not need to exchange money before, while travelling or during your trip.
- There is no explicit need to to have a considerable sum allocated to travelling in your bank account or while making purchases while travelling.
- International credit cards are accepted across many establishments in the world.
- Travellers will actually pay the full amount for purchases and this proves to be advantageous as money kept in the bank will continue to reap benefits until the credit card payment date.
- International credit cards also allow travellers to accumulate points or frequent flyer miles and these points or miles can be exchanged for flights or related gifts or vouchers.
- Conversion rate used by banks that provide international credit cards the day you pay your balance about 5% above the official currency exchange rates.
What About International Debit Cards?
- Travellers can utilize International debit cards abroad in the same way as they use such cards back at home. The added advantage here is that such cards provide travellers with the ability to withdraw local currency at a tourist destination. However the withdrawals will be debited in the traveller’s native currency.
- A complete lack of start up or maintenance costs involved while obtaining a new international debit card.
- Travellers will not need to obtain specific currencies for each country. Banks automatically convert your purchases from the local currency of the country you are in, into their native currency.
- Travellers can use just a preferred amount of money needed abroad and they will not be left with too much or too little foreign currency.
- Unlike credit cards which, in many countries, may not be accepted in certain establishments an international debit card can be used to withdraw money from local ATMs that are located in many places around a tourist destination. Travellers are provided with the ability to use almost any ATM around the globe, regardless of which bank, once they possess debit cards that are supported by either Mastercard or Visa.
- Travellers can also reduce expenditure by saving on ATM withdrawal as they can utilize international debit cards for almost all purchases.
- Differences between official exchange rates and bank charges on currency exchange is normally reasonable.
What About Prepaid or Preloaded Cards with US Dollars, Euros and Pounds?
- Travellers can now visit their preferred destinations with a Prepaid card that has been loaded with the select currency or with US Dollars, Euros or Pounds.
- Funds added to prepaid cards are usually safe as loss or theft of the card can be immediately reported and that cards will be attached to a PIN number for authorisation during ATM withdrawals or purchases.
- Obtaining a new prepaid card is convenient and reasonable.
- There is an added advantage of receiving the leftover funds on the prepaid card or let it remain on the card for future travelling needs.
- Prepaid cards can be used just like international debit cards with convenient purchasing ability and ATM withdrawal facilities in numerous establishments and ATMs accepting such cards.
What About Exchanging Currency in Your Home Country?
- Travellers prefer this method when they are going to places where governments regulate exchange rates resulting in a thriving currency black market.
- Travellers have time to research and find appropriate exchange rates. While exchanging currency before starting their trip.
- There are no hindrances in terms of knowing the local language, finding currency exchange firms or looking for exchange kiosks at the airports.
Cozmo Travel understands your needs when it comes to foreign exchange and carrying currency on your next trip. We would recommend you to speak to us when it comes to planning out your vacation or tour in a foreign location.
UAE Visit Visas, Cheap Hotel Bookings in Dubai – now at Cozmo Travel!
We are your ideal travel partner when it comes to traveling to destinations from Dubai and Abu Dhabi. Cozmo Travel is a one stop shop for economical travel plans and itineraries, flight tickets, UAE visa assistance and hotel bookings within UAE and across the world. We welcome you to read other articles in our large collection of blog entries, not only to be informed about the wonderful destinations waiting for you, but to approach Cozmo Travel for help with getting to these awe-inspiring destinations.
Cozmo Travel LLC is an esteemed member of the Air Arabia Group, and in 2010, commenced operations as a full-fledged IATA certified travel agency in Sharjah. Cozmo Travel currently holds a portfolio of 39 branches in the GCC (Gulf Cooperation Council) with 26 branches operating out of the UAE, seven branches in Saudi Arabia, three in Qatar, two in Kuwait and one in Bahrain.