Business travellers often find debit cards to be very useful, but there are some features that can make some debit card far more useful than others.
One of the main reasons that a debit card is useful is that they are very secure. The problem with using cash on overseas journeys can be that the cash is quite easy to spot and is far more vulnerable to being stolen. This is natural as cash has to be carried around and wherever it is, on the person, in luggage or even in a hotel room the cash is far more vulnerable than it would be if it was locked up in a house or a bank.
Debit cards can be easily cancelled and replaced. If there are unauthorised transactions on a debit card then they will be covered by a zero liability guarantee which means that a person who has an unauthorised transaction on their account will find that the transaction is not charged against the account that the card is linked to as long as the card holder does not contribute to the misuse of the card by lending the card and that the card holder tells the card issuer in good time that the transaction has been made.
Another reason why debit cards are a good thing for business travellers is that the foreign currency does not need to be changed and will not run out as long as the card can be used. This is because the card will pay in the local currency but charge the account in Australian dollars. This can be especially useful when there is a very short stay at a country. It can also cut down on the double charge that is made when a person changes unspent money into Australian dollars after they have changed it into foreign currency.
Another advantage for business travellers is that debit cards tie into itemised bank statements, which are often available online. This can make the reclaiming of expenses far easier.
Debit cards can make charges for overseas transactions, and the currency transaction rate while better than some of the more expensive bureau de changes, can be beaten by high street currency changing. If there is frequent travel to one particular country then it is possible to get a pre paid foreign currency debit card at some very competitive conversion rates, and no charges for overseas transactions.
