Traveling a lot naturally means I have to manage my finances on-the-go to get me by each day. I make sure that I keep up with the times by doing everything electronic, hence lessening the need for bank visits. Likewise, apart from carrying cash, I make sure I am armed with the best isas for travel and a selection of debit and prepaid cards. In this post, I share some tips on how I manage my finances when I’m on the road. Read more…
Photo credit: maniya
1. Choose a great savings account. A great savings account, with advantageous rates and offers, is the springboard for everything. Compare what banks offer, and deposit in one that offers benefits, such as no international conversion rates, minimal maintaining balance, a wide banking network, complimentary travel insurance, discounts and freebies with partner establishments, and most importantly, a mobile and internet banking facility.
2. Enroll in mobile and internet banking facilities. In this digital age, banking is 24/7, thanks to electronic innovations that now extend to even smartphone apps. Say you are thousands of miles away from your bank, these channels could be your only means to transact anytime, long as there is mobile data or internet coverage. With a few clicks, balance checks, remittances, fund transfers, and bill payments could conveniently be done.
3. Connect other accounts to your savings account. Once enrolled in mobile and internet banking facilities, you can now connect your other savings accounts, whether from the same bank or from a different one. This enables transferring of money to and from your newly-created savings account, say in cases of emergency like declined or captured cards.
4. Apply for debit or prepaid cards. Manageable via mobile and internet, debit and prepaid cards, such as those by Visa, are not only an alternative means of paying but also a way to withdraw from international ATMs. The recognition of these cards is worldwide; therefore, they really are more dependable and secure than cash and travelers checks.
The ability to manage finances while away is like having a security blanket when things don’t turn out as planned. As a frequent traveler, I’ve been faced with critical financial woes that I’ve able to solve with a few clicks, like being stuck in a city where all money changers are closed. So for your next trip, be sure to have access to your finances; follow my tips to ensure a seamless traveling experience.
