Remember that your bank could charge you conversion fees on all swipes.

Cape Town - In today’s challenging economic times, taking that well-earned break abroad often involves much careful consideration – with bargain travel options, reduced fares and accommodation specials usually top of the list.

Managing your travel money in the most economical way possible should be the least of your concerns when planning your overseas vacation, says Charl Nel, head of communications, marketing and corporate affairs at Capitec Bank.

“There are various ways you can conduct your banking and save money so you have more to spend on sight-seeing and enjoying all your chosen destination has to offer,” says Nel.

He offers the following tips:

 

Free travel insurance

You can benefit from free travel insurance when you pay for flights with your Global One credit card. Note that you have to pay for your flights directly from the selected airline website and not through a third party source (i.e. travel agent) for this benefit to be valid.

 

Just swipe

The days of using traveller’s cheques are long gone – and swiping your debit or credit card abroad is more convenient and safer than carrying large wads of cash around. Remember that your bank could charge you conversion fees on all swipes, however. With a credit card, you will also be subjected to fluctuating exchange rates.

 

Banking app

Use our cellphone app to manage your bank account. Because the app is linked to your phone, you can use it by accessing a WiFi network or a local SIM from any country you're travelling in.

 

Currency cards

These days, currency cards are a convenient, cashless way of using foreign exchange while overseas. If you opt for a travel card from your bank, you will need to ensure that you’ll be able to use it in all the regions you are travelling to – your bank should be able to provide this information.

Adapted from a press release for IOL