banks and credit card companies take us especially happy when we are traveling abroad with all sorts of fees for money exchange, Cash withdrawals at ATMs or for card payments in shops, Restaurants, Hotels, or on the Internet. Here are tips on how to handle Fees are.

money

The Euro, the Dollar and other major currencies including the British pound, the exchange rates in Switzerland and abroad are mostly about the same. It plays, therefore, no great, where to change money, though at the same time make sure that no additional fees will be required. Home to change at the Bank, because this transaction handles for free. So-called exotic currencies like the Thai Baht, Egyptian pound, Iranian Rial and the Turkish Lira, however, are in your country of origin mostly to a more favourable exchange rate than in Switzerland. To switch more cash in "exotic" currencies, as it wants to effectively spend, is not advisable. If you don't change unused holiday money back (which is, in some cases, even possible), will be punished with a worse exchange rate and, if necessary, again with fees.

withdraw cash

ATMs are today in use around the world. But caution is needed: firstly, you should use the automatic machines of banks, perhaps even a partner of the house Bank. At ATMs of third-party as you stand around, especially in airports, train stations and shopping centers, in addition to all the usual fees usually additional costs.

It's worth it to relate to travel less often money, for larger amounts.

Secondly, you have to obtain cash at ATMs with the debit card with the Maestro card (formerly EC), with the Postfinance Card or V Pay from Visa. Are the fees one way or the other. But while the debit card is usually about five francs per the reference, request the credit card companies up to four percent of the related amount, but a minimum of CHF 10 per withdrawal. If you are in fairly safe regions on the road and not have to expect to be robbed, it is worth in the face of these high fixed costs, less often, of money, for larger amounts.

local currency

those Who use abroad their credit card, you can often choose whether to pay in local currency or in Swiss francs. The Option "Pay in Swiss francs" may look practical, because you do not need to convert the amount in your head, but in the well-known currency, including all fees, sees. However, the costs are higher. Firstly, foreign financial institutions apply mostly to have a worse exchange rate than the Swiss credit card Issuer. Secondly, there are credit card companies, the demand for payments abroad in Swiss francs and an additional processing fee.

There are Restaurants, Hotels, shops and so on, the insistence on payment in Swiss francs or even have pre-set. You earn namely a Commission. However, one should always insist on the payroll in local currency.

Cash is paid True

the Smaller of the amounts you abroad at the best bar. If this is not possible, then the credit card is often advantageous: In many of the debit cards, a flat fee of 1.50 to 2.50 francs to falls, namely, in the case of each payment, regardless of amount, is often a revenue-based fee, for example, 0.5 percent. In the case of credit cards, however, most currencies surcharges on foreign and fees for the conversion of a total of up to four percent charged, in extreme cases, up to 5.5 percent. What's tricky is that the translation can change the fees every day. This means that, depending on the condition of credit card can turn out to cost up to an amount of about 50 to 70 Swiss francs lower than those of debit cards. For larger amounts, the debit card is cheaper. However, the pay abroad is with the Postfinance Card is not possible, only cash withdrawals.

Cheap credit cards

The credit card providers are creative when it comes to their income: the annual fees, commissions for foreign exchange, Processing fees, exchange rate margins, offsetting fees, and so on. Often, such costs are to be found only in the small print. All of the above savings proposals are, however, meaningless, if one paid for his credit cards too much.

Alternative to Debit and credit cards are up and Coming, but has not yet spread everywhere.

There are portals where you will find a few details (e.g. whether you use the card a lot or a little, especially in Switzerland or abroad, etc.) the best conditions: www.moneyland.ch/de/kreditkarten-vergleich www.comparis.ch/kreditkarten/

Alternatives

To the traditional Debit and credit cards, there are Alternatives. They are not widely used in the Come, however, everywhere. Examples are Revolut, Google Pay or Apple Pay. They offer more favourable exchange rates than Swiss banks. Revolut is a pre-paid App in many countries, money can be obtained. However, it is the owners of the car and partly from Hotels are not accepted, because this insistence on analog credit cards as a security. The Payment App Google Pay is currently in about two dozen countries.

A special case of the people's Republic of China is: In many stores, markets and so on, payment by credit cards is no longer possible. Very far, Ali Pay, the Payment App of the largest retailer Alibaba is widely used there. For tourists Ali Pay is not an option, because you need a Chinese Bank account. This means that travelers without Chinese Payment App must use for the purchase of Souvenirs, for food, for Museum admissions often back to the good old cash.

Created: 07.03.2020, 16:25 PM