We had a number of follow up questions on our Transferwise article last month. Such as on ATM usage and how to best get around in a non-English speaking country. Since we like making (and saving) money for our clients, we thought we’d dive a little deeper into travel planning and your money.
Use your Schwab debit card
We recommend our clients use their Schwab debit card at ATMs while traveling abroad. Schwab offers excellent currency exchange rates when using foreign ATMs. Perhaps even more importantly, Schwab doesn’t charge any foreign ATM fees. So, rather than spending your time looking for currency exchanges, simply find an ATM and use your debit card. Your currency exchange rates will be very competitive. And you won’t have to worry about ATM fees because Schwab reimburses those.
Uber makes traveling easy
Uber isn’t just something you use in the US. The popular ride-sharing app is readily available in most places around the world. Worried about a local taxi driver not understanding what you’re saying? You can use Uber instead of a taxi and never have to risk a misunderstanding regarding your destination. If your French is lacking and you are trying to get from the Eiffel Tower to Verjus Restaurant (highly recommended by the way), simply pull up Uber on your phone rather than trying to hail a taxi. Also, since Uber is an all-inclusive price, you won’t worry about whether or not you are in a country that tips, how much to tip, etc.
Lastly, try to familiarize yourself with a country’s metro system. Especially when visiting places like France or Switzerland. Most countries offer an app that shows you exactly which lines to take. Plus, in using the local mass transit, you’ll feel much more engaged with the locals.
Keep your questions coming, we look forward to helping you make (and save) money.