Tips Every Traveler Must Know About The ATM Abroad
Withdrawing from an ATM is the cheapest and easiest way for travels to get cash in another country. The good thing about exchanging money using your card is that cash withdrawals, no matter the size, are being exchange depending on the current wholesale rate in money exchange. Most ATM in Columbus offer the same thing.
The rate from this are mostly better compared to the ones you get from exchange counters. Additionally, money changing bureaus and local banks will add a transaction fee for every transaction you make, eating up another two percent easily. There are still fees associated with international ATMs withdrawals, but you would still be able to get the best rate from this at the lowest cost.
Using ATMs abroad is not simple, unlike with what you have at home. Search for ATM horror stories online and you can find an abundance of horror stories about travelers who were not able to get cash because of ATM blunders. This is why it is important that you do your research about overseas banking first before departing. Here are tips to keep in mind.
Get online. The first thing you have to do right before you travel is register for an online banking. With online banking, managing your account and bills becomes easy. Convenient since you can easily fix problems with your card and account anywhere and anytime, just as long as you have internet connection.
Services offered by foreign ATMs are limited. ATMs in your hometown allows you to see your account information, change PIN, transfer money, etc. Abroad, you can only withdraw cash and see your balance. If you need to do others things while in another country, online banking is your only option.
Be mindful about your saving, chequing, and other bank accounts. Make sure that the accounts you will be accessing when abroad are properly linked to your card. You may link your accounts to savings, chequing, etc. Example, the main account is listed as a chequing account, and the credit line is the other account.
Do not forget to remember and set your withdrawal limits. To prevent another person from clearing your account, in the case that it got stolen, set your withdrawal limit to low. Keep this in mind to avoid having unsuccessful attempts which can result to having the account frozen by your bank.
Keep the phone number of your bank for emergencies. One situation that can lead you to calling the bank is having a frozen account. Problems like this cannot be fixed online, you need to call the bank if you want it fixed. With their phone number in hand, you can easy and quickly contact them whenever issue arises.
Avoid using private teller machines. Making use of private ATMs may result to getting commissions and additional charges. These machines have high security risk, so try to avoid them whenever possible. Be mindful and alert whenever you are dealing with automated teller machines, you would not want to end up having a stressful vacation instead of happy one.