Going abroad-Money combo

Not long ago a friend of mine asked me to travel abroad with a credit card or with cash, answered many, feel the need to tidy up in writing.

Brigade-commonly used in several ways.

Cash

Advantages: easy to use.

Weaknesses: lack of security, European thief like visiting China, because China's bag is cash, Westerners only some coins and a pile of cards.

Credit card

Advantages: optimal exchange rate, suitable for consumption.

Disadvantages: 1, no cash common, particularly in developing countries.

2, is not a 100% security, particularly in Thailand, credit cards, ad copy.

Debit card (debit card)

Advantages: better than cash, ATM cash withdrawal fee of safety than credit cards.

Disadvantage: can't find the ATM when ...

Traveller's cheques T/C

Advantages: security, not afraid of losing the tax change fee.

Disadvantage: the need for banks to Exchange.

Here we must first explain the exchange rate and fees.

Grand don't come for free, any form of currency conversion you will pay a fee, but some are hidden, so we put them to dig out.

Starting from cash, for example, if you have 100 dollars to swap yen, intermediate price today is 9553 yen, if you run to the Bank of China counter you may wrap to 9400 yen, if you have a China Merchants Bank online foreign exchange trading account, you can wrap to 9533 yen, if you went to the Tokyo airport only wrap to 9256 yen.

They have in common is that they do not receive "fees".

The difference is the price-the price difference of between, call Spread, different agencies earn different Spread, you will never be able to prevent the spread, can do is pay as little as possible, so as long as you find spread to local Exchange, the use of cash is the minimum of formalities.

How to calculate the intermediate price (selling price + price)/2

Credit cards have Spread?.

Visa, Master plus 1.6% spread on non-USD currencies.

Because Visa, Master is a dollar, so you have no dollar national consumption, the consumption of non-US dollar spread is the local currency/USD mid-price + 1.6%.

Or in Japanese yen, if you have credit card swipe, eventually commuted 9553 Yen is $ 100, but $ 101.6.

Some people may ask our Visa, Master is not a RMB repayment?, at this point you will pay once Spread.

Today the Bank of the premium, the purchase price 676.52/selling price 684.72, you eventually paid the 695.68rmb. But relative to you hold 687.82rmb to the Bank of China direct 9553 Yen in cash, in fact, you only pay the 1.1%.

So said credit card handling fee is cash after the lowest.

UnionPay card?

Visa, Master of the settlement is the local currency-> USD-> RMB, UnionPay card is the local currency-> RMB.

So theoretically UnionPay card charge less, but I do not have actual data, if anyone can provide UnionPay of Spread, can be very helpful. But only in the Asian Cup card small supported, coverage is far from and Visa, and Master.

So my suggestion to US dollar countries use Visa, Master, because there is no converted twice.

Non-US countries, the priority to use the mark, but be sure to take Visa or Master, because 100 shops may only support UnionPay.

Debit card

Debit is used for ATM cash withdrawal, mainstream card is Cirrus and Plus, and credit card than cash withdrawal to cost more.

Because credit card cash withdrawal, you will be charged an overdraft interest and fees. Of course, to the credit card you can avoid interest in Delta, but after that you will find the rest did not spend money to get it out to take charge.

Debit card fee varies due to the Bank.

There is a $ 5 handling fee + spread, some are spread only. In General take 100 dollars equivalent of foreign currency, you have to pay $ 5 to 8, the Commission is the highest (but lower than credit cards-now).

Traveller's cheques T/C

Can be understood as a kind of fear of losing cash.

Use the time to check the signature and passport lost when loss and replacement.

Mainstream of the T/c is the United States express Bank (American Express).

Use time can go to a bank or Exchange Office, or directly in the business consumer.

Use of fees:

In developed countries (T/C currency countries), T/C can free exchange or consumption, but must be a member of the local currency of the T/C, such as $ T/C in France, that can only spread + middle prices redeem euro.

But if the euro T/C in France, 100 euro can exchange 100 euro cash, 0 fees (mostly banks, AmericanExpress home page has a list).

In developing countries (non-T/C currency countries), it is best to use the dollar T/C, it is important to large denomination because they follow the T/C number subject to charges.

For example, Thailand, US $ 500 cash today can swap 17565 baht, $ T/C break 17690-23b fees = 17667 baht. If you are 100 dollars T/C, then you do not earn no-loss.

Purchase fee:

Bank fees charged 0.5%, if you used the r

Mb direct purchase. 0.5% of the fee you can save a copy to carry large amounts of cash.

I recommend using a combination of the above ways to manage travel resources.

If you go to the developed countries, to the greatest extent of the use of credit cards, traveller's cheques for local currency free exchange, with a small amount of local currency cash emergency.

Debit card so there is no better, also does not matter.

Developing countries, but in the same hotel, shopping centre, the hotel by credit card, don't let your credit card out of your sight.

Bring in $ US dollars traveller's cheques and cash. No T/C, with Debit cards.

I wish you all a safe and pleasant holiday.