If you’re planning to travel overseas, you might be wondering how to use your debit card without paying extra fees or getting scammed.

We sure are a nation that loves to travel overseas. So much so in fact there was over 1 million departures from Aussie airports in January 2023 alone. While you’re jet setting around the globe the last thing you want is to get stung with extra fees and hidden charges.

It’s possible to travel overseas and still use your debit card safely and smartly. There’s a few things you should keep in mind when travelling.

Inform the bank of your travel plans

If you plan to use you debit card when abroad, you should definitely tell your bank when and where you are going. This helps the bank protect your account from fraud and theft. The bank will note your travel dates and destination on your account. You can usually easily do this inside your banking app, or if you’re prefer speaking to a human you can always call them.

By letting your bank know you’ll be overseas, they can check if any charges on your account are suspicious. For example, if you’re having a coffee in Auckland and a charge comes in from Singapore, the bank will alert you and stop the fraud. This can save you money and trouble when you travel.

Travel with a backup option

Travelling with a debit card sure can be convenient, but it may not work everywhere. Some places may not accept your card or slug you with different fees and limits. You should always have a backup payment option when you travel.

If you have one, a key backup option is a credit card. This way you can use your debit card for the majority of your purchases and avoid paying annoying interest on your bill. But if you run into any trouble with your debit card, you can switch to your credit card and still buy what you need. In some places you’ll need an actual credit card to book a hotel or rent a car.

Another handy backup option is cash. Cash is pretty much accepted everywhere and you wont have to pay foreign transaction fees every time you use your card. You can withdraw cash from ATMs(for a one time fee) using your debit card and be set for a few days. Be aware of any withdrawal limits and fees imposed by your bank. It’s been said that you should also keep your cash in a safe place and not carry too much at once.

Carry a card with no foreign currency conversion fees.

One of the best ways to save money when travelling overseas is to carry a debit card with no foreign currency conversion fees. This means that you can use your card to pay in the local currency without paying extra charges for converting your transaction back to Australian dollars.

Other debit cards, like the HSBC Everyday Global let you load up to 10 different currencies onto the card so you pay using the local currency. If that currency isn’t on your preloaded wallet, you can still enjoy no international transaction fees.

It’s a good idea to also check what exchange rate that the card provider uses, as there is a big different between the market rate and swap rate.

Use a Global Partner ATM

Before you head off on your trip, check to see if your bank or provider is part of a global alliance of ATM’s. Some Australian banks have partnerships with overseas banks that let you withdraw cash without the need for paying extra fees.

Some banks that have partner ATM networks:

– ANZ: ANZ account holders can use their debit or credit card to withdraw cash from over 50,000 ATMs worldwide without paying any international ATM fees. Some of ANZ partners are banks such as Bank of America, Barclays, Deutsche Bank.
– Citibank: Citibank customers can enjoy free access to over 10,000 ATMs across 20 countries. Some of these are the US, UK, Canada, China and Japan. Citibank is part of the Global ATM Alliance, which also includes Bank of America, BNP Paribas, Scotiabank and Westpac.
– HSBC: HSBC offers -free withdrawals from over 3,000 ATMs in Australia and over 2 million ATMs worldwide. HSBC is one of the largest banking groups in the world and has a presence in over 60 countries and territories.
– Westpac: If you’re a Westpac customer you can use over 50,000 ATMs worldwide for free through the Global ATM Alliance. Westpac is also part of the Pacific Island ATM Network, which allows customers to withdraw cash for free from ATMs in Fiji, Papua New Guinea, Samoa, Solomon Islands and Vanuatu.

Safe travels!

So there you have it, some handy tips for using a debit card overseas. I hope you found them useful and that they will help you save money and avoid hassles on your next trip. Remember to check your card’s fees and limits, notify your bank of your travel plans, use ATMs wisely and keep your card safe. With these simple steps, you can enjoy your holiday without worrying about your finances. Bon Voyage!