Travel Money Q: Best Options for Payments Abroad

No matter whether you are an occasional traveller or a digital nomad, whenever you go abroad you want to make sure you are able to make payments. Ideally without spending a small fortune on fees. You have probably at least once found yourself standing in front of a blinking ATM screen in a foreign country wondering if you’re about to get charged half your dinner budget in fees, so you know how crucial it is to be informed. Payments abroad are often the hidden stress factor of travel and I am here to make it less of a husstle for you by covering the basics and sharing my approach during travels.

So, let’s break it down: how do you pay abroad smartly, without losing your hard-earned money to shady conversion rates and unnecessary bank fees?

The Golden Rule: Never Rely on Just One Card

Rule number one in travel finance: redundancy. Always carry at least two cards (ideally from different providers). Why? Because cards can get blocked, machines can reject them (or swallow them – yes, that happens!), or – let’s be real – sometimes we just lose stuff, or (touch wood this never happens) your wallet gets stolen.

Personally, I always travel with:

• A debit / credit card for everyday payments abroad.

• A debit card for cash withdrawals and a backup for payments.

• A virtual debit card linked to my online account.

• Small amount of EUR / USD in cash (in some places currency exchange points might be the only options for you to get to the local money, so good thing to have as a backup).

This combo has saved me countless times – from street food stalls in the Philippines to charming family tavernas in Greece where “card reader is currently offline” really means “cash only, my friend.”

💳 Best for Worldwide Payments: Wise

Best for: everyday card payments, online bookings, and paying in shops/restaurants abroad. Can be used as a cash withdrawal card for smaller amounts and/or as a backup card for cash withdrawals.

Here’s the deal with Wise: their mid-market exchange rates are basically unbeatable. No tourist markups, no “surprise conversion fees” hidden in the small print. You get the real exchange rate you before you make the conversion. I also absolutely love their feature for automatic currency conversions: you don’t need to track the exchange rate fluctuations and simply define the desired amount to convert at the preferred rate and it will be converted for you automatically once the threshold is reached!

Highlights:

• Free multi-currency account: hold money in different currencies and pay like a local. This has proven to be especially useful in the Philippines a few times, when I had to make a transfer quickly.

• Transparent low fees with discounts for larger transfers.

• Works perfectly with Apple Pay & Google Pay.

• Quick execution time.

• Automatic currency conversion.

The virtual card is free (you can also get several cards at the same time). You can control the card online and quickly block / unblock it if needed at no extra cost.

Currently Wise is available in the following countries:

For the current list of available countries check on the official website here.

Cash Withdrawal

You can also use Wise card as a backup for cash withdrawal. You can order a physical card for a one time fee of 7 EUR with no further monthly costs. Each month you will get 2 free cash withdrawals abroad for the amount of up to 200 EUR (which you can split into 2 withdrawals for free, or for 3 or more withdrawals you will pay 0.5 EUR per withdrawal). If you withdraw more than 200 EUR monthly, you will pay 1.75% of the withdrawal amount in fees for up to 2 withdrawals, for every consecutive withdrawal there is a surcharge of 0.5 EUR per withdrawal on top.

I am sharing with you a link* through which you can get a FREE card OR an option to send transfers for up to 600 CHF with ZERO fees:

👉 Sign up for Wise here*.

*This affiliate link gives you a bonus while giving me an extra income with no cost to you. Win-win! 🙂

🏧 Best for Cash Withdrawals Worldwide: DKB Visa

Best for: worldwide cash withdrawal, online and offline payments in Europe.

Even in 2025, cash is still king in many places – especially in smaller towns, markets, or island ferries. And that’s where DKB Visa comes in. If you’re a European traveller, DKB is one of the most reliable banks offering free worldwide cash withdrawals for the members with active status, which will help you save on the fees massively.

Highlights:

• Free ATM withdrawals worldwide (yes, really free – no foreign transaction fees induced by the bank, BUT provided you have an active member status).

• Works even in tiny rural ATMs – you will get a free Visa Debit Card which is accepted in most ATMs.

• Linked to a solid German bank, with mobile banking that’s easy to use.

Now let’s look at how to avoid fees at DKB:

DKB account is free for everyone under 28. For the rest, to keep your account free of charge all you need to do is secure a transfer of a minimum of 700 EUR per month. Otherwise, it costs you 4.50 EUR during the month you did not make a transfer of 700 EUR or more.

In order to profit from the free cash withdrawals you need to be an active member. Active status is granted once you’ve done 3 consequent monthly transfers of at least 700 EUR and then you keep your active status by keeping the monthly transfer of at least 700 EUR per month. All new clients get an active status right away for 3 months! So if you want to keep it – just keep the monthly 700 EUR transfer in place.

I have been an active user of this bank and can totally recommend it! The only drawback – if you don’t speak German, the user experience might be rather challenging. Their app is, however, user-friendly and has an English version, so shouldn’t be too tricky.

Ready to open an account with DKB? I am sharing with you a link* through which you can also get a 25 EUR bonus either on your new DKB account or as an AMAZON.DE voucher:

👉 Get your DKB account here* and receive 25 EUR as a reward.

*This affiliate link gives you a bonus while giving me an extra income with no cost to you. Win-win! 🙂

Further Great Payment Options For Your Future Trips Abroad

• N26 – another great option for travellers. Opening a bank account is free with a free virtual card included. The standard plan is basic but works well for payments in Europe. For travels outside of Europe you are better of with the plans N26 Go (9.90 EUR / month) or N26 Metal (16.90 EUR / month) are way better options, allowing you to withdraw cash worldwide without extra fees, as well as give you access to further products, such as accident and travel insurance, airport lounge passes and travel eSim plans – all in one app! The bank account opening is eligible to residents of EEA countries – check the complete list here.

• Revolut – good for payments in Europe and worldwide, same currency transfer operations are usually free. Offers a free physical (with delivery fees, otherwise you also often find promotions at European airports where you get a physical card right away). Similar to Wise, Revolut offers a 200 EUR zero-fee withdrawal per month (the amount can be split in up to 5 withdrawals); the following withdrawals are subject to a 2% fee with a minimum fee of 1 EUR. So it can also serve well as a backup cash withdrawal card. The services are available for EU- and non-EU residents – check the complete list here.

Credit VS Debit Card

When it comes to travel spending, debit and credit cards each have their perks. Knowing when to use which can save you both stress and money. Debit cards (like those linked to Wise or DKB) are perfect for everyday use: you’ll get good exchange rates, low or no withdrawal fees, and better control over your budget since you’re using your own money. Credit cards, on the other hand, are viewed more as a loan. They often offer good deals for large spendings. They can be invaluable for things like hotel bookings, car rentals or emergencies – situations where debit cards might not be accepted or where a deposit hold is required. Even if you prefer to travel cash-based or debit-only, carrying one credit card as a backup is smart travel insurance – not for spending, but for peace of mind.

Tips to Stretch Your Budget Abroad

• Always withdraw cash in local currency. Your bank will always give a better exchange rate than an ATM. When an ATM or card machine asks, “Pay in EUR or local currency?” – always choose local currency. Paying in EUR lets the bank set its own (terrible) exchange rate.

• Withdraw larger sums less often: some ATMs charge fixed fees per withdrawal.

• Research in advance which banks do not charge withdrawal fees in your travel destination, or those that have the smallest fees.

• Always pay in local currency. This is mainly applicable for offline payments in stores and restaurants. It may seem like the difference is not that big sometimes but over time you may lose quite some money just on high conversion fees offered by the card readers.

• Split money between travellers: so one lost card or stolen cash doesn’t ruin the trip.

Final Thoughts: Travel Smart, Spend Smart

Payments abroad don’t have to be a stress factor. With the right combo you’ll have the best of both worlds: low fees, great exchange rates, and peace of mind.

Because let’s face it: I’d much rather spend my travel budget on fresh seafood by the beach or that extra ferry ticket to a secret island, than on unnecessary banking fees.