No one wants to carry a lot of cash around, especially when they’re out and about. Worrying about losing money or having it stolen can be a pain. Fortunately, there are many ways to make your funds accessible wherever you are. Read on to learn more about how you can make your finances work for you, no matter where you are.
1. Get a debit card.
A debit card is one of the easiest ways to access your money while away from home. All you need is your card and a PIN, which you can use to withdraw cash from ATMs or make purchases. If you’re traveling overseas, be sure to get a card that has no foreign transaction fees. That way, you can use your card without worrying about being charged extra.
You should also ensure that your debit card is linked to a checking account with overdraft protection. That way, if you accidentally spend more money than you have in your account, you won’t be charged any fees. Many banks offer this service for free, so be sure to ask about it before you open an account.
2. Use a banking app.
Several mobile banking apps allow you to access your account information and make transactions from your phone. This can be a convenient way to check your balance, transfer money, or even pay bills while on the go. You can usually install these apps for free from your bank’s website or the app store.
Before you download any app, research to ensure it’s legitimate. Several scams out there pretend to be legitimate apps but will steal your information. Only download apps from your bank’s website or links sent by your bank, and be sure to read the reviews before you install anything.
3. Get a prepaid card.
Prepaid cards are another way to access your money without carrying around a lot of cash. These cards can be loaded with money in advance and used to make purchases or withdraw cash from ATMs. Some prepaid cards even offer rewards or discounts on certain purchases. For example, the EZ-Link card is the most popular prepaid card in Singapore, which you can use on public transportation and in some retail stores.
But you should be aware that not all prepaid cards are created equal. Some have high fees, while not all merchants may accept certain cards. Be sure to read the fine print before getting a prepaid card to know what to expect. If you’re unsure which card is right for you, ask a financial advisor for help.
4. Use a digital wallet.
Many people are now using digital wallets to store their money. This can be a convenient way to carry your money, as you can usually access it with just your phone. You can use a digital wallet to make purchases, send money to friends, or even withdraw cash from ATMs. Depending on the wallet you use, you may also be able to get discounts or earn rewards on certain purchases.
You can also use a digital wallet to store other information, such as your loyalty cards or boarding passes. This can be a convenient way to keep track of everything in one place. Keep your digital wallet secure like any other type of wallet. If you lose your phone or have it stolen, you don’t want anyone to be able to access your money.
5. Consider a travel credit card.
When you’re traveling, having a credit card that doesn’t charge foreign transaction fees can be helpful. That way, you can use your card without worrying about being charged extra. You may also want to look for a card that offers rewards on travel-related purchases, such as cashback or points.
Before you apply for a credit card, be sure to do your research. There are a lot of different cards out there, and not all are right for everyone. Consider your travel habits and choose a card that will benefit you most. For example, if you travel often, you may want a card that offers rewards on airfare and hotels. If you don’t travel often, you may not need a card with as many perks.
These are just a few of the ways you can access your money while you’re traveling. Be sure to consider all your options and choose the one that’s right for you. If you have any questions, speak to a financial advisor for more information. With a bit of planning, you can ensure your money is always within reach, no matter where you are. Safe travels!