How to Withdraw Cash Abroad, Safe and Profit

  Traveling abroad, both for holidays and official travel, requires preparation. One of them is cash.

But taking cash abroad still has its limits. Every country has cash-bearing rules.

After all, it is now the era of cashless or cashless. Carry cash as necessary. If you need to urgently, you can withdraw cash with a debit card or ATM card.

How to Withdraw Cash Abroad, Safe and Profit

Withdraw cash abroad needs to pay attention to the following things to be safe and remain profitable.

1. Use a debit card that serves transactions abroad

Using a debit card to withdraw cash at an ATM machine cannot be a mediocre one. Use a debit card with a Visa or Mastercard logo that has been widely accepted in many countries, so that cash withdrawals at ATM machines abroad can run smoothly.

2. Check the exchange rate before withdrawing cash

The currency rate of each country changes at all times. The value could go up or down. Before withdrawing cash, make sure you have checked the currency rate in the country you are in.

Of course, you will withdraw money not in rupiah. So, check first on the official bank website for buying and selling rates. To withdraw cash, you must refer to the selling rate number.

You can also check the value of the U.S. dollar or the currency of the local country on the official website of Visa or Mastercard.

3. Know the cash withdrawal limit

Similar to cash withdrawals in the country, each country applies the maximum amount of cash withdrawals at different ATMs. You should know the maximum cash withdrawal limit, so as not to take money beyond the limit.

4. Check the costs to be borne

Withdrawing cash at an ATM abroad is subject to an administration fee. The amount depends on the policy of each bank.

The amount of administrative costs of withdrawing cash abroad ranges from Rp 30 thousand to Rp 50 thousand. The amount is quite large, especially if you withdraw cash many times. It even makes a chord, right?

To be more sure, ask about the cash withdrawal limit and administrative costs to the bank before leaving for a country. Thus, you have more detailed information about cash withdrawal rules in the destination country.

5. Withdraw cash as needed

Even if you have a sufficient savings balance, you should still be wise in withdrawing cash abroad. Limit the amount of withdrawals or cash withdrawals as needed.

For example, the estimated cost of living a week in Singapore is 500 Singapore dollars, then withdraw cash of that amount or exceed 20-50 Singapore dollars just in case. Pull at once so that administrative costs do not swell.

Use money wisely while in the local country so that it no longer withdraws cash that results in waste, and financial problems after returning to the country later.

6. Not transacting in money changer

While abroad, make sure you avoid transactions in money changers. In general, money changers will apply higher selling and buying rates than banks or ATMs.

This will hurt you, especially if you want to make a transaction or withdraw large amounts of cash at once.

Credit Cards Can Also Be An Alternative Abroad

In addition to using debit cards to withdraw cash and transact abroad, you can also use credit cards for the convenience.

Credit cards can be a means of payment that reaches across countries. No need to bring a lot of cash, there is a credit card that will accompany your trip.

Many Indonesians are starting to use credit cards as a means of payment abroad rather than cash. The reason is because it is considered more practical, such as credit cards, such as visa and mastercard logos.

Want to eat at restaurants, shop at the mall, rent a car, and other transactions do not need to bother. Just swipe, all the affairs of payments abroad are in order.

But whether it is a debit card or credit card, should be used wisely abroad so that finances remain stable.