How I manage my money and payments when travelling abroad

When I first went travelling, so many of the products now on the market didn’t exist. I would withdraw cash from the ATM (hello transaction and withdrawal feels) and spend that before then withdrawing more. I even remember the days of faffing with travellers checks!

Thankfully, things have changed a lot. But in the word of scams and a million products to choose from, it can feel very overwhelming to know what’s best to use.

For me, I needed a way to use my money abroad that has:

• No foreign transaction fees (I don’t want to get ripped off every time I buy something using my card)

• Free cash withdrawals (so the cash machine doesn’t take a chunk - it all adds up)

• Good exchange rates

• Easy to set up

• Can be used in every country

• Good, simple app to manage my money

The only UK bank I can recommend that I’ve used for years now and that does all of the above, is Starling Bank.

It offers fee-free purchases abroad, and foreign cash withdrawals are fee-free up to a maximum of £300 a day. It’s quick and easy to get set up too, as they only require an ID check instead of a full credit-check.

I also like that I can use it as a ‘top up’ card - so for example, I’ll easily add money to it from my other main bank account. I know many people use it as their main bank too - but for me, having it separate feels safer. Say for example something happened and my Starling card was cloned, they wouldn’t be able to access that much money as I keep it separate from my main account.

I’ve found this to be really easy way of managing day-to-day spending when travelling. I like the app so much that I just use it for my general life too now (especially living between UK and Germany).

I’d also recommend that you do take a credit card or other card traveling too, for the ‘just in case’ back up. For me, I take a normal credit card with quite a high limit - just in case something happens whilst I’m travelling and I need to pay for an emergency. It’s never happened yet, but I like the reassurance in my pocket. Of course, your insurance would cover most things but occasionally there might be a pre-payment involved which is where the credit card is useful.

If you decide to use Starling Bank, they currently have a referral program where if you open an account with the referral, we both get a free National Trust day pass. So feel free to use mine which I’ve linked here.

It’s always worth checking the latest with our friend Martin too over on Money Saving Expert.

Important! This is just my opinion about what works for me and everyone will have different needs when it comes to money. Always check the terms and conditions, fees, and any potential benefits or limitations of your chosen card and bank to ensure it aligns with your specific travel needs and preferences.

If you have any questions or would like more help with support when travelling abroad - email us on info@retireandroamtravel.com

Happy spending!

Kiarna