Paying with card abroad

Posted: August 18th, 2013 | Author: | Travel

When you travel abroad we must be prepared for the fact that we will have to use foreign currency. Of course, we can obtain the cash before going there, but be aware of the fact that it can end up and we have to use the card or ATM. The big question is of course – how much does it cost?

MarcelGermain / photo on flickr

MarcelGermain / photo on flickr

It turns out that it can cost quite a lot. This does not apply to holders of foreign currency accounts, but to calculate how much exactly will we use to use the card will need to know a number of variables. The first is of course the exchange rate that will be replaced. Most often it is assessed on the basis of the NBP rate, we need to know where we can find the current rates for our card and account, and use these data.

We also need to know what currency we want, because sometimes the buck are not immediately converted to the currency we want and there is a transfer in Euros or Dollars. The fact you may want to know before you go. We need to know what and which currencies are needed to complete your transaction.

We must also be willing to pay a fee for the conversion. It sometimes occurs, and sometimes not. This information should be provided to us by the bank, but it is not necessary the case. By the way, we should also know how much it will cost us to draw money from an ATM. Here you will almost certainly encounter a fee for using a foreign ATM and it can be quite high, so it is worth to be allowed free use of ATMs in the country or take the right amount of cash with you. We should also bear in mind the method of calculating commissions, sometimes it is cheaper to withdraw a large sum of money once than five times smaller amount.

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