Is it better to use cash or card when travelling?

What are the disadvantages of using a debit card abroad?

Debit cards overseas: Hidden fees sting. Overdraft threats loom. Banks block cards. Annoying.

Best spending abroad? Prepaid travel cards. Simple. Secure. Avoids nasty surprises. My 2024 trip to Portugal proved it.

• Foreign transaction fees: Expect them. Always. Check your bank’s rates. Brutal.
• Exchange rates: Fluctuate wildly. Monitor closely. Painful.
• ATM fees: Ubiquitous. Plan accordingly. Costs add up.

Alternatives: Travel credit cards offer rewards. But responsible use is key. Debt is a trap. Cash? Inconvenient. Risky.

My experience: Using a Wise card in 2023 minimized these issues. YMMV.

Is it better to get a travel money card or cash?

Wanderlust whispers… Cash, cards… which siren song to follow? Coins clink, a tangible comfort. Forex whispers safety. Is it a mirage?

A little cash, yes. Feels like the sun on skin. But cards…a shield? A promise. The past echoes, travel mishaps, stolen bills. Never again.

Forex…it sings of control. Knowing the dance. Exchange rates locked. Budgets bloom. No nasty surprises. Or so they promise. I trust them?

• Cash: warm, real, prone to vanishing.
• Cards: cold plastic, secure, maybe deceiving?
• Forex: Budgeting bliss? Exchange rate clarity? Or subtle traps?

My uncle, always wise, spoke of hidden fees. The bank’s silent hand. Credit cards, debit’s shadows…worse still? He knew finance.

Safer than cash, they say. Cheaper than plastic, their claim. But safety is an illusion. Cheapness, a fleeting joy. I choose Forex.

Should I pay in card currency or local currency?

Local currency. Avoid card currency.

Apps? Useful. Hidden fees exist. So true.

• Lower conversion rates often.
• My card never charges fees. Liars.
• Always check the rate, anyway.

Currency apps. They calculate.

• XE Currency. It works okay.
• My bank’s app. Good enough mostly.
• Conversion rates change constantly. Remember that.

Why this matters:

• Dynamic Currency Conversion (DCC) is a scam. Card currency is DCC.
• Merchants profit. You lose.
• It’s your choice. Demand local.

Foreign transaction fees: 0%? Lies. Check your statement, genius. This year’s trip was a lesson.

What is the downside of forex?

Okay, Forex… I got burned, bad. It was October 2023, late, like 2 AM.

I was at my tiny apartment near downtown Chicago, fueled by instant ramen and way too much hope. Stupid hope.

See, I thought I was a genius. The charts looked… obvious.

Yeah right.

I was trading EUR/USD, convinced it would spike. Leverage? Oh yeah, maxed out. Big mistake! HUGE.

News dropped – I don’t even remember what news – something about the ECB meeting maybe?

The market went south. Fast. My screen was flashing red like a Christmas tree gone wrong. PANIC.

I tried to close the position. Too late. My account balance… poof!

Gone. GONE!!! Argh!

Lost almost $2000. Still stings, even now, in 2024. It was my rent money!! What a dumbass I was.

So, the downside?

• Volatility: It’s insane, like a rollercoaster from hell.
• Leverage: Tempting. Deadly.
• Emotional Rollercoaster: You need ice in your veins, which I def dont have.
• News Sensitivity: One tweet can wipe you out. Seriously.
• Complexity: There’s always something you dont know

Forex felt like gambling to me. I quit. Never again!

Now I just stick to ETFs. Way safer. Less exciting, but also less likely to leave me eating ramen for a month. Ugh.

Is it better to use debit or credit card at ATM abroad?

Ugh, ATMs abroad… Debit or credit? Always a gamble. Credit cards are, like, everywhere, right? More accepted. Especially out of the country.

But the FEES! Argh. Debit cards are cheaper for taking out cash, I’m pretty sure. Currency exchange… Debit wins there, I think.

Wait. ATM withdrawals with credit cards are bad, very bad! Interest, fees… double whammy. Debit is still better, right? For cash.

• Credit Card Abroad:
  • Wide acceptance.
  • Horrible ATM fees.
  • Interest charges too.
• Debit Card Abroad:
  • Better for cash withdrawals.
  • Lower currency exchange fees.
  • Less accepted? Maybe?

Okay, still leaning towards debit for ATM. Credit only if desperate. This year’s trip to Tokyo, gotta remember this, I’m so bad at remembering things.

My Visa card has a foreign transaction fee of 3%. That sucks! My debit card, with my local credit union, doesn’t charge that. Which is, like, a big win.

Is it better to use a debit or credit card when traveling internationally?

Credit card. Globally accepted, plus fraud shield.

Debit card? Backup only. Cash is king.

• Credit cards dominate. Rewards programs exist. Who doesn’t like free stuff?
• Fraud protection? A major win. Credit card companies, I trust them.
• Debit? Limited appeal. ATMs are everywhere… mostly. My trip to Belarus proved otherwise in 2023.
• Cash. Still needed. Some vendors scoff at plastic.
• Foreign transaction fees. Research these. My Amex is usually the best.

Credit cards reign supreme. Debit? A distant second.

What is the disadvantage of a travel money card?

Travel money cards? Piece of cake, right? Wrong! They’re about as useful as a chocolate teapot in some places. Seriously.

Acceptance Issues: Forget about using your fancy travel card in that tiny, adorable village gift shop in rural Tuscany. Nope. Cash only. Prepare for a frantic search for an ATM that probably charges you an arm and a leg. It’s like trying to pay for a unicorn ride with Monopoly money.

Hidden Fees: These things are sneaky little ninjas when it comes to fees. Foreign transaction fees, ATM fees…it’s a money-eating monster! I once paid $15 to withdraw $100. Fifteen bucks! I could have bought a small pony for that!

Customer Service: Ever try to contact customer support when your card is blocked in a remote location? Let’s just say it’s less relaxing than a root canal. I spent three hours on hold listening to elevator music. It was excruciating!

Here’s the deal:

• Limited Acceptance: Many places, especially smaller businesses or those off the beaten track, don’t accept them.
• Fee Frenzy: Transaction and ATM fees can add up faster than you can say “jacuzzi.”
• Support Shenanigans: Reaching customer service is a Herculean task.
• Replacement Headaches: Losing a travel card is almost as bad as losing your passport. Replacing it is a hassle.
• Zero Flexibility: You’re stuck with whatever currency you loaded onto the card, and exchange rates are rarely in your favor.

My personal experience? Last year in Vietnam, my travel card got swallowed by an ATM. Swallowed! It was like a scene from a horror movie. I had to pay extra to get it un-swallowed. Then I had to explain my situation in broken Vietnamese to a very unimpressed ATM technician. It was wild. I ended up buying a boatload of questionable street food with cash I frantically withdrew from a different bank. The street food was surprisingly delicious though. So there’s that.