You are going abroad soon: what precautions should you take when it comes to money?

Going abroad is a source of stress for 7 out of 10 French people regarding means of payment.

Losing your bank card, worrying about having too high fees, abroad, money is a source of stress for 7 out of 10 French people. How to fix it, what precautions to take. Advice from Fanny Guinnochet.

franceinfo: Is the figure mentioned of 7 out of 10 French people subject to stress because of money abroad important?

Fanny Guinochet: Yes, that’s according to an OpinionWay survey for Wise, an international payments company. This is a concern for the French when they travel abroad, with the fear of being scammed. And it’s true that there are some guarantees to take, if we want to avoid unpleasant surprises.

The first is to check that your bank card works where you are going, as this is often the most convenient way to pay abroad. And then, it seems obvious, but check its expiry date before leaving, so as not to find yourself stuck, when you are on the other side of the world, with an obsolete bank card.

Furthermore, check that the authorized withdrawal and payment limits correspond to your needs. Often, you are entitled to a certain amount per week, and beyond that, you cannot withdraw. It would be crazy to find yourself at the ATM, blocked because of an amount that you cannot exceed. Also check that with this card you can have access to certain services such as renting a car, for example.

And are there fees when you withdraw money?

For withdrawals in the euro zone, in general, these are the same pricing conditions as for withdrawals made in France, they are therefore free for most bank cards. But, be careful, if you travel to a country where the euro is not the currency, you will have to pay transaction fees.

Withdrawal fees vary from 3 euros to 12 euros on average, depending on your bank, to which is added a variable commission of 2% to 3% of the amount withdrawn. In outside the euro zone, you will be charged for the exchange transaction into the country’s currency.

Should you contact your bank before leaving?

Yes it’s a good idea. Some banks have partner networks that allow you to reduce fees by withdrawing money from their branches. Once there, it is better to withdraw a large amount at once, rather than making several small withdrawals, this amortizes the commission.

In any case, always leave with your bank’s emergency number, in case of theft or otherwise, to be able to block your bank card quickly.

Finally, monitor your accounts, especially upon your return. Compare the transactions with your payment receipts, receipts which are better to keep, because they provide supporting documents in the event of fraud or disputes.