When you go on a trip abroad, one of the most important decisions you can make is how you are going to pay for your expenses. Many people turn to their local card for convenience, but this small gesture can be costly. In this article, we explain why paying abroad with your local card isn't the best option and we offer you smarter alternatives.

1. Hidden fees and disadvantageous exchange rates

The biggest problem when paying with your local card abroad is that banks often charge currency conversion fees and fees for international transactions. Although the charge may seem minimal at first, if you add up all your travel expenses, these fees can add up quickly.

In addition, banks tend to use an exchange rate that is not exactly favorable. The difference between the interbank exchange rate (the real) and the one your bank offers you can mean that you lose a lot of money.

Quick example:

Let's say you make a purchase of 1,000 dollars abroad. If your bank charges you an inflated exchange rate and an additional 3% commission, you could be paying $50 or $100 more than necessary.

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2. Additional fees for ATM withdrawals

If you decide to withdraw cash from an overseas ATM using your local card, you may face a double fee: one from the ATM's bank and one from your own bank. This can amount to between 5% and 10% of the amount withdrawn.

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3. Volatility risk

If the exchange rate rises sharply due to a political or economic issue, you will suddenly be paying much more for each purchase, which means going out of your budget or losing money unexpectedly. You can always see the exchange rate in real time with our Currency Converter.

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What alternatives do you have for paying abroad?

Instead of using your local card, here are more convenient options:

1. A dollar card

With the Plenti Card, you can pay your expenses directly in dollars without worrying about disadvantageous exchange rates or hidden fees.

Advantages of the Plenti Card:

• No additional currency conversion fees.
• 1-to-1 payments in dollars, no surprises.
• Protection against exchange market volatility.
• Compatible for online purchases and in physical stores.

2. Recharge your dollar balance in advanceWith Plenti, you can recharge your balance in dollars before you travel, ensuring that you take advantage of the best exchange rate. This way, you don't need to rely on the rate on the day of your purchase.3. Transfers to international accountsIf you plan to make large payments, another option is to transfer money to international accounts from the Plenti app with low fees and a competitive exchange rate. 🔧 Additional tips for saving when paying abroad

• Always check if the merchant offers you to pay in your local currency or in the country's currency. It's best to choose the local currency, as automatic conversions are often more expensive.
• Always carry some cash in the local currency for situations where they don't accept cards.
• Check in advance if your local card has international agreements that reduce fees.
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🌐 Enjoy your trip without worrying about money! With Plenti, paying abroad is simple, secure and without hidden costs. Don't let high fees and bad exchange rates ruin your adventures. Download the Plenti app and get your Plenti Card to enjoy your trips without complications.

Download! hither and start saving today!