Best ways to pay on holiday
Planning an overseas holiday? Why worry about organising currency when there’s a range of foreign exchange products to suit your needs?
Accessing money overseas can result in all sorts of challenges. You don’t want to find yourself stranded with no cash, paying outrageous exchange rates on credit cards, or with no access to your travel funds. That’s why it’s a good idea to have a range of payment options available to you.
3 ways to pay while on holiday:
1. Paying with cash
It’s useful to have some foreign currency on hand to pay for things like taxis and refreshments, or just in case no other form of payment is accepted. For security, though, try to avoid carrying large amounts of cash.
Buying Forex from your bank before going away can help manage fluctuating exchange rates and, in turn, your budget, as you will know exactly how much cash you have. Check your bank’s foreign exchange rates for competitive prices.
2. Credit and debit cards
You can use your MasterCard and Visa debit, cheque and credit cards while overseas, but be sure to check upfront what the fees and charges will be.
International bank fees and conversion rates differ for each account and are subject to change depending on the current exchange rate.
TravelWallet offers you one of the safest and convenient alternatives to carrying large amounts of cash overseas. It’s a prepaid MasterCard that can be used at any MasterCard merchant around the world and can also be used for ATM cash withdrawals in the currency of the country you’re visiting. TravelWallet is available in euros, US dollars, pound sterling and Australian dollars.
With no point-of-sale costs (only a possible currency conversion fee if you pay with a different currency to that loaded on your card), a TravelWallet is a secure, convenient and cost-effective way to pay for things overseas.
Simply buy a TravelWallet from your bank and load your chosen foreign currency before you leave to lock-in an exchange rate for those funds. Once loaded, fluctuating exchange rates won’t affect your balance, and you can top your card up anytime.
TravelWallet is also valid for up to four years, so you can use your card for future trips by reloading funds on to your card every time you travel over that period.
Before you leave, make a note of your bank’s international Lost Card Division number in case of an emergency. The number for Standard Bank is +27 (11) 299 4114.
Remember: You can earn UCount Rewards
UCount Rewards, Standard Bank’s rewards programme, lets you collect rewards points when you shop with your qualifying Standard Bank personal Credit, Cheque or Debit card.
You can redeem your rewards points online for incredible local and international travel packages, for flights, car hire, accommodation and much more at the UCount Rewards Travel Mall.
Remember to notify your bank you will be travelling abroad so that your debit or credit cards are activated for overseas travel.