One of the most popular questions that people ask when purchasing foreign currency is whether they can avoid having to pay their debit card charges. Before we go into this, let’s start by looking at what your debit card charge will be in the first place.
Most people are aware that if you’re using a credit card, your bank will often charge a processing fee when it’s the merchant’s responsibility to apply the funds to your account. Your card company will generally try to discourage you from running up large debts and may even refuse to process payments if you have a poor credit rating.
However, the fees that you have to pay each month for your debit card charge is actually the responsibility of the bank that issued your card. In effect, if you are carrying out all your transactions in pounds sterling, your bank has some responsibility to you as a customer for their own financial security.
In addition, every year you’ll usually have to make a statement to your bank which details the fees that you’ve paid to them for the benefit of your banking needs. In addition, you should ask your bank about any other banking services that they offer for those who need international money transfers.
The purpose of these statements is to enable your bank to keep you aware of your monthly bank balance. If you pay your card in pounds sterling, your card will be worth considerably more.
If you’re using your card on a regular basis then you probably aren’t paying too much attention to account charges. However, if you choose to make a large purchase, such as a holiday, or if you spend a lot of money using your card, then you may want to look at cutting back on the amount that you pay each month.
There are various ways that you can choose to reduce your card fees when you travel. The first is to try and pick a card that charges you no money at all on a monthly basis.
A standard annual fee for a global or prepaid card is typically less than half of what you would pay for an international credit card charge. Therefore, if you can find a card that has a fixed monthly fee and gives you a lot of flexibility then you might want to use one of these cards to avoid paying your debit card charges.
Another idea is to search out a card that only accepts certain kinds of payment, such as PayPal. This can actually save you some money as you don’t need to carry out a lot of your transactions in the form of the traditional credit card.
When you send money internationally, you will be asked to confirm your payment with certain amounts of money being sent by your bank. You can either accept this or have your account debited by your bank every time you send money.
When using your debit card abroad, you may not be able to take advantage of any payment methods that are available to you. You may be required to make a small transaction using your card which will cost you a fraction of what your bank would charge you.
The best way to avoid having to pay your debit card charges is to follow a system that will allow you to pay your bills in pounds sterling. This will allow you to send the money overseas to purchase items that are priced in pounds sterling.