Before you travel abroad, it’s a good idea to let your bank know so they don’t block access to your card when you need it. However, you should also notify them so you can possibly reduce the fees you’ll pay while you’re gone.
Photo by steve p2008.
As personal finance site One Cent at a Time points out, many banks charge extra fees when you withdraw or spend money while overseas. If you let your bank know that you’ll be travelling, you might be able to get them to proactively waive those fees, saving you a bit of money where you need it most.
Even if your bank won’t waive its traditional overseas fees, it’s a good idea to have a conversation with your bank before you leave anyway. For starters, those fees can vary based on where you’re travelling, so you can budget ahead of time just by asking how much it will cost to use your card in another country. Additionally, if your bank knows you’re travelling, they’re less likely to block your card when they notice transactions on your statement from another country.
How to Manage Your Money While Abroad [One Cent at a Time]