One of the most rewarding experiences, international travel is associated with increased creativity and contentment. Your dream destination might make you feel you are physically present there even though you are just thinking about it!
We at Thomas Cook recognize that you may have set aside money for this eagerly anticipated trip for months or even years. But you cannot deny the flaunting forex rates which can create a dent in your savings for the upcoming travel. Although international traveling can be pricey because of this, there are several forex tips that can help you to get the most out of buying forex and spending money abroad. And to assist you with that, we have put together this post with ten fantastic suggestions to help you manage your money when traveling overseas so that you can relax and enjoy your trip!
But first, travel trips to ensure the best first-time international holiday:
Firstly, you must do a comprehensive investigation of the location you will be visiting. If you want to learn more about the area, people who live there, the weather, etc., speak to people who have already visited the spot and read travel blogs and guides. After that, sit down to create a prudent trip budget! Think about how long your trip will last and how much you want to spend each day on it. Organize your funds next and set aside a certain amount for your lodging, meals, activities such as sightseeing and shopping, etc. Pay attention when creating the budget as the most important aspect of the travel itinerary is budgeting. It makes it easier for you to see where your money is going, which will enable you to keep tabs on your spending. As a result, these tips can help you to get the best forex rate.
Now, let’s check out 10 forex tips for beginners that can ensure a hassle-free trip abroad.
10 best forex tips for a first-time international traveler:
- First-time travelers must consider to buy forex online, where they can benefit from low-margin rates that can be locked in. Most frequent travelers would advise you to exchange your currency online as it provides the facility to load and reload forex cards as and when required when traveling.
- It is a good idea to exchange currencies through the best forex provider only because then you are most likely to get the best forex rate which will be lower than the usually high forex-related bank charges.
- To get the best forex rate, you should study the ups and downs of the interested foreign currency at least for three days, preferably for a week, before your departure. Currency exchange rates can vary greatly. So, if you follow this tip, then you will have the luxury of waiting two or three days to see if the rates are dropping or if they are on the higher side. You will be able to make the right decision and get the best foreign exchange rate locked in for your upcoming first international travel.
- It is expensive to convert money at airport foreign exchange counters. A fee between 10% and 15% will be applied to your purchase. Once you go for their service, you will be left with no other option but to agree to their terms. The high rate associated with this option will make you lose a sizable sum of money even before you leave the airport, and this has the full potential to hamper your first international trip.
- The majority of people consider taking an international credit/debit card to be the most practical choice for abroad travel expenses. However, relying on international credit and debit cards will be a pricey decision because there are high fees and bank charges associated with each overseas transaction and conversion. If you are wondering how to access your money overseas, then know that using a forex card is a much better alternative because you can avoid paying any high bank fees as you are not required to link your forex cards with your bank account.
- A forex card is a widely used prepaid card that also enables you to take out cash from an ATM in a foreign currency. Having the ability to carry several currencies on one card is one of the major benefits of acquiring a multi-currency forex card. You may recharge your card quickly and effortlessly at your fingertips without any paperwork while also tracking costs from your app.
- Get a rough approximation of the amount you’ll need for the entire journey. Carry 30% of your total travel expenses in cash, and the remaining 70% should be in your foreign exchange travel card. Maintaining this ratio will ensure you do not overspend while on your first international trip which can get confusing at any given moment.
- One of the best tips for traveling abroad first time is that along with your primary Forex card, you should carry a backup. No additional fees are charged for the extra one. By shelling out a negligible sum to load a spare, you can be safe while traveling abroad.
- Each merchant would have a distinct exchange rate for each currency. Compare the exchange rates provided by at least 3 merchants before making a purchase. You can compare exchange rates with the help of Thomas Cook. You can also order products online and request same-day home delivery at Thomas Cook.
- You never know what can go wrong when traveling abroad. So, when choosing your forex card, do ensure that it is providing some required assistance like emergency cash and emergency services. You can also get insurance coverage, free replacement for lost or stolen cards, 24/7 global assistance, and more with this prepaid card.
Forex Cards by Thomas Cook:
As a first-time traveler, you would want your trip to be hassle-free. Well, with Thomas Cook you can make that possible with easy currency exchange. Forex cards from Thomas Cook can offer the following benefits:
- You can access more than 2 million MasterCard ATMs and 3 million Visa ATMs worldwide to withdraw local cash. Swipe it at any place in more than 200 nations with the help of over 35.2 million MasterCard and 70 million Visa merchants.
- By loading money ahead of time, you can avoid currency swings. Automatic currency conversion based on the location of the transaction.
- This prepaid card will enable you to effectively stick to your international travel budget without any issues as you can load your card online as and when required.
- With the website and mobile app, you will be able to check balances, view statements, change PINs, or block cards without paying any additional fees.
- Use leftover money from one trip for another or withdraw the leftover amount once you get back home in your home currency.
There you have it, these were the 10 best forex tips for beginners that can help you effectively. Here we have also informed you how our forex cards are ideal for international travel and how they can ensure your trip goes smoothly no matter what the current forex rate is. Thomas Cook understands that there are many other services and more specific guidance a first-time international traveler may be in need of. Thus, we are here for you every step of the way. So, do contact us to make your first international trip memorable!