Sorting out your money before you go

What is the best way to take money overseas? You have a few different options. Rather than just relying on cash, consider taking a cash passport or travel money card too. Your own visa debit or credit card can be taken as well for extra flexibility when it comes to paying for things. Plus, having back-up options for lost or stolen cards is always a good idea.

Keep an eye on exchange rates leading up to your holiday, then order foreign cash or load up your travel card when the exchange rate is in your favour. With some clever timing you may be able to make your dollar stretch that bit further. This is particularly for those currencies that are worth more than the Australian dollar, such as the British Pound or Euro.

Consider the fees and charges

While no one wants to have to worry about fees and charges, it’s important to remember that if you pay for things on your debit or credit card oversees, you may pay more than you think.

Overseas merchants tend to charge a higher conversion rate for the trouble of converting your money into their currency.

Check with us about the costs of using your card for overseas eftpos purchases and in foreign ATMs.

Talk to us about travel insurance

Without travel insurance, cancelling your holiday due to sickness or injury means you’re unlikely to get back any money you’ve paid so far.  What you’re getting up to on your holiday is also important. Make sure your policy includes cover for dangerous sports if you’re planning on skiing, skydiving or taking part in any other adrenaline filled activity. Get a quote online here.

How about those bills?

Missing a bill while you’re on holiday can lead to late fees. Or in extreme circumstances, stopping services all together if payments are frequently late. Take the hassle away by setting up direct debits before you go.

Tell us before you go

By letting us know you’re out of the country and where you’re going, we’ll know it’s you conducting those international transactions. We’ll continue to keep an eye out for any suspicious activity on your accounts and credit cards while you’re away.

Looking for more money advice for your overseas trip? Get in touch with Horizon Bank today and let us help you on your journey.

Horizon Bank has a branch network spanning the NSW South Coast and Illawarra. Horizon Bank branch locations: Albion Park, Bega, Bermagui, Berry, Merimbula, Moruya, Nowra, Thirroul, Ulladulla & Wollongong.

The content in this article has been prepared by Horizon Bank for general information only and it is not intended to be professional advice. It does not take into account your objectives, financial situation or needs. You should seek your own legal, accounting, financial or other professional advice where appropriate, and consider the relevant Product Disclosure Statement and Terms and Conditions before deciding whether to acquire any products or services offered by Horizon Bank and/or its affiliated partners. We do not recommend any third party products or services referred to in this article unless otherwise stated and we are not liable in relation to them. Any links to third party websites are for your information and we do not endorse any content on those sites. Horizon Credit Union Ltd ABN 66 087 650 173 AFSL and Australian Credit Licence Number 240573 trading as Horizon Bank.