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Banking tips for a smooth international travel experience
Banking tips for a smooth international travel experience
Staff writer
Posted 27/07/2023 Updated 26/07/2023 4 mins
Ensure a secure international travel experience with Nedbank.
Travelling abroad can be an exhilarating experience filled with new sights, sounds, and adventures. As you plan your journey, it is crucial to remember that taking care of financial matters is just as important as packing your suitcase. Following this advice will give you peace of mind about your transactions and ensure a smooth financial journey.
Banking tips for a smooth international travel experience
Before you travel internationally, it is vital to take precautions to ensure an effortless banking experience while you’re away. The most crucial step is ensuring that your credit and debit cards are accepted internationally. You can apply for a travel card or activate your credit and debit cards to use abroad. The Nedbank Travel Card is a prepaid solution for effortless transactions abroad, so you don’t have to worry about physical foreign currency. You can load up to 8 currencies with locked-in exchange rates, and use your card globally wherever you see the Mastercard logo.
For hassle-free international travel, you can apply for a Nedbank Travel Card or activate your other Nedbank cards for international use via the Money app or Online Banking.
Helpful tips
Major card networks, like Visa and Mastercard, are widely recognised, but it is still good to confirm details with your bank. Check the banking fee schedule and foreign transaction fees or currency conversion charges that may be associated with your cards. Remember, your cards will work only at merchants or ATMs that accept your card association, like Visa and Mastercard.
It is wise to have multiple payment options while travelling.
Carry a combination of cash, credit cards, and debit cards. Cash can be useful for small purchases or in emergencies where card acceptance might be limited. Solely relying on one payment method is not advisable due to safety concerns. You should also activate your Online Banking or Money app for your account if you haven’t already done so. This will enable you to monitor your transactions, check your balances, and receive alerts while you are away. It is convenient and helps you keep track of your spending.
Notify your bank
As you embark on your international adventures, it is crucial to recognise the significance of notifying your bank and safeguarding your financial transactions while you're abroad.
Inform your bank about your trip, its expected duration, and the countries you will be visiting before you travel. To protect clients' accounts, banks use sophisticated fraud detection systems designed to detect unusual spending patterns, including transactions made in foreign countries. While this is a valuable security measure, your bank could flag your account if they detect international charges without prior notification, which can lead to the inconvenience of your card being blocked.
Different countries may have different payment systems and technologies, and notifying your bank enables them to provide information about the compatibility of your payment cards in your destination country. Some countries mainly use chip-and-PIN cards, while others rely heavily on contactless payments or mobile wallets. Understanding the payment landscape helps ensure that your cards work seamlessly and avoids unnecessary hassles.
Disclosing the duration of your trip will help your bank monitor your account more effectively and detect fraudulent activity. Some banks also offer features to set spending limits and enable travel notifications on your card. By using these services, you can have more control over your finances.
Nedbank understands the importance of providing clients with a secure and worry-free banking experience, both at home and abroad.
We offer a range of services to protect your finances while you’re travelling and have dedicated international support teams to help you with any banking-related queries or emergencies while you are away. Our online and mobile banking platforms, like the Nedbank Money app, are available at all major app stores, and enables secure access to your accounts. Our banking channels, along with robust security measures, protect your sensitive information, giving you the confidence to manage your finances with ease.
Take out insurance
To provide comprehensive protection during your travels, we also offer travel insurance options. Whether it’s for medical emergencies, trip cancellations, or lost baggage, travel insurance offers valuable coverage and peace of mind. Our travel insurance policies are designed to meet the unique needs of travellers so that they can focus on exploring new cultures and enjoying every moment of their journey.
Want to know more?
Here’s what to do:
- Contact your financial planner.
- If you’re not a client yet and want to find out more about how we can help you, we would love to hear from you. Please complete our online contact form and one of our consultants will call you back.