Travelling abroad should be about experiences, not worrying about how the money works at your destination. A little planning helps you avoid unnecessary stress, unexpected fees, or not having payment options you can use.

This is not a 'cash versus card' debate – when you spend money overseas, there's no single 'best' method. Paying with either is an option in most cases, but you may encounter some expenses that can be paid only by card, only in cash, or where one option costs significantly less than the other.

Cash or card? A quick comparison

Cash still plays an important role when travelling abroad, particularly for small, everyday purchases. It is most useful in the following situations:

• Shopping at local markets, street vendors, or small, independent businesses.
• Travelling in regions where card payment infrastructure is limited or unreliable.
• Making quick, frictionless payments for tips, public transport, or snacks.
• Managing spending more consciously by knowing exactly how much money you have available.
   

That said, it's important to be aware of the potential drawbacks of relying only on cash:

• Carrying large amounts of cash can increase your exposure to theft or loss.
• Lost or stolen cash is usually difficult – or impossible – to recover.    Estimating how much cash you'll need in advance can be challenging.
• You lock in the exchange rate at the time of purchase – if the rand strengthens before your trip, you may end up paying more for foreign currency than necessary.

A travel, debit or credit card offers convenient, secure flexibility – especially for larger or unplanned expenses. If you have a Nedbank Travel Card, for example, you can load up to 8 foreign currencies on it before you travel or while you're abroad, and use it at Mastercard-accepting merchants worldwide, or to withdraw cash in local currency at ATMs.

Card payment options are especially effective when:

• You're travelling to destinations with high card acceptance rates.
• You prefer not to carry large amounts of cash.
• You need a reliable backup for emergencies or unexpected costs.
• You value security features such as transaction alerts, spending controls, and the ability to block a card instantly.
• You want to benefit from a potentially strengthening rand by delaying currency conversion for as long as possible.

However, when using credit or debit cards, keep in mind:

• Some card transactions may attract foreign exchange or withdrawal fees.
• Exchange rates can vary, depending on the card and transaction type.
• Card use may be limited in remote or cash-based areas.

Combine cash and cards for flexibility

Rather than choosing between cash or cards, you can benefit by using a combination of payment methods. This gives you convenient cash for everyday spending, secure card options for larger expenses, and backup solutions if one payment method isn't accepted.

The key is understanding what each option is best suited for, and planning for that. Consult the table below to compare, rate, and access the best payment options in different scenarios.

*MiGoals rate is 2.75%. Private Clients rate is 2.5%. Private Wealth rate is 2.3%.

Make the most of Nedbank's travel banking solutions

The most cost-effective, stress-free way to manage money abroad is having reliable access to payment solutions. With Nedbank, you can create a balanced setup that covers every situation:

• Use cards for accommodation, dining and larger expenses.
• Carry some cash for small expenses and cash-only locations.
• Add a Travel Card  before you leave, to manage currencies.
• Keep your Money app updated to the latest version so you stay in control wherever you are.

Whether you're planning well ahead or travelling at short notice, Nedbank offers flexible travel solutions designed to work together – so you can focus on enjoying the journey, not managing your money. We're ready to guide you every step of the way and help you choose the right combination for your travel plans.