If you are planning for a travel abroad, whether for business or a vacation, one of the first things you will be worried about is how to acquire foreign currency to spend during your trip. While processing charges, currency exchange and markup fees can make you confused about how to carry your money, we have outlined the best ways available to you to carry foreign currency for a travel abroad.

1. Cash

It is always a good idea to have some foreign currency in hand in cash as several restaurants, charges for transportation (buses, taxis etc), often only accept cash payments, also tipping may required at restaurants, hotels as a gesture of appreciating good service, traditionally for the first day or two of your trip including for expenses such as buying a meal at the airport, taking a taxi to your hotel all will require immediate payments for which cash would come in handy. Now use your RBL Bank Debit Card which comes with a 0% forex mark up. This means savings through no additional charges levied on these transactions on RBL Bank Debit Card. There is no doubt that you may need some foreign currency cash, when you need you can always use any of the Mastercard or Visa enabled ATMs, do remember to check the transaction charges that the ATM service provider will be levying. RBL Bank does not charge any charges however the bank or company running the ATM may have charges.

2. Debit OR Credit Cards 

Debit and Credit Cards are now a hygiene i.e. required every day in life as convenient form of making payments while in India and travelling overseas. You can use them to make payments for your purchases or withdraw cash in local currency to spend. Most Credit Cards have Forex mark up of 3.5%. This means if you spend $100 you will end up paying $103.5 when billed in INR. These charges show as inclusive of the transaction entry or through a separate entry in the statement of account. Do remember to check this.

3. Pay in INR and not Foreign currency ?

Some Point of sale terminals ( POS ) or swipe machines will have this option. Do remember to check if the INR amount is exact conversion rates or are inclusive of the 3.5% mark up or more. The fine print and understanding what you are paying for is always important. RBL Bank Debit Card no such mark ups or hidden charges involved. What you pay for or transact for you pay almost exact amount converted from the foreign currency to INR equivalent on that particular day and time.

4. Prepaid Travel Cards 

Still thinking of that Forex Card ? Let us use this example and analogy to understand this traditional product the Forex Card. There was a time when most people would carry an additional SIM Card for mobile phones as international roaming charges were astronomical, however this is not the case anymore and international SIM providing companies in India are slowly becoming extinct. This because the mobile network companies now offer negligible charges on your regular SIM Card and therefore there is no need for that additional SIM. You use the same SIM / Number as you use in India. “Similarly “ RBL Bank Debit Card allows you to transact with almost 0% charges on Forex transactions. As simple as that there is no need to transfer money to load your Forex Card etc and when you are overseas and need more money this can get complicated. With RBL Bank Debit Card just keep your account funded and or transfer and fund your account as you would do and continue to use your Debit Card on the go. With no need for additional documentation, no additional PIN etc.

5. Traveller’s Cheques 

Traveller’s cheques are mostly history. Only in some countries where banking is not so developed the traveller’s cheques continue to be used.

Whichever option you choose, be sure to do research on the context of the country you are visiting and which option works best there. And of course, don’t forget to enjoy!