How to avoid being ripped off by your bank
The answer is simple. You need to change! Mouhaha
No seriously, most of the banks are bad when you’re travelling in a foreigner country. It’s like the telecommunication services; they use this excuse to charge you extra fees and take your money. But the bank dictatorship is over now!
You should check with your bank 3 things:
- How much you’re allowed to withdraw with your actual credit card? (You will pay a lot by cash in Colombia)
- Do you have an extra fee when you withdraw to an ATM and do they apply a shitty rate?
- Do you have an extra fee when you pay by credit card and do they apply a shitty rate?
If the answer is “Yes” at one of the two last questions ==> You should open a new bank account.
I’m not saying you should close your old bank account hein. But it can be free or very cheap to open a mobile bank and to use their credit card when you’re travelling
I already have the N26 credit card, and I plan to order the Revolut card for my next trip. For me, N26 and Revolut are the best banks to save money when you’re travelling in another country.
Before ordering, I recommend you to read all the conditions on their website. The two mobile banks start to be very famous, and they often change/adapt their conditions. Be careful; the conditions can be different if you are not from the European Union.
Receive your credit card for free from N26, the new mobile banking. You have to make nine purchases with the credit card in 3 months to enjoy for free the Mastercard. Otherwise, a fee management of 8.7 euros will be applied every three months…
You can make all the financial transactions your wish directly from your phone.
- No bank fee when you pay by Mastercard (in any currency) with the best exchange rate
- Five withdrawals a month (1.7% fee if in foreign exchange)
- You can opt for the premium account (5.9 euros/month). Then you don’t need to do the nine purchases minimum every three months, No withdrawal fee in a foreign currency and you have insurance.
It’s perfect if you want to pay without fees directly with your Revolut card when you’re travelling. The credit card is free, but you need to pay 6 euros for the delivery.
- You can transfer for free your money from your actual credit card on your Revolut card
- Pay in 26 currencies different
- No bank fee when you pay by Revolut Card (in any currency) with one of the best change rate
- Max 200 euros withdrawal a month without fee
Lovely traveller, some links in the article are affiliate links. There is no extra cost for you, and they can give me small commissions if you’re booking through my links. It’s helping me to keep the blog and all the information for free 🙂
All the tools have been personally tested by myself and approved by very close friends. I will do all my best never to disappoint you.