How to carry money when traveling abroad is the best?

When traveling abroad, it is troublesome and risky to carry a large amount of foreign currency. In fact, you can find a flexible and lowest-risk solution with money. According to insiders, there are basically four ways to carry foreign currency for outbound tourists to choose from:

carrying cash

Advantages: Cash is a common currency, which is the favorite way for most outbound tourists at present, and it is the most convenient to use and the simplest procedure. According to the relevant regulations of the State Administration of Foreign Exchange and the General Administration of Customs, domestic residents are not required to declare if they carry foreign currency cash with an equivalent value of less than US$ 2, out of the country. If they carry foreign currency cash with an equivalent value of more than US$ 2,, they need to apply for a foreign currency carrying certificate from the bank, and generally they are not allowed to carry foreign currency cash with more than US$ 1, out of the country.

Disadvantages: In foreign currency exchange, the quoted price of cash is lower than that of spot exchange, and the more you exchange, the more you gain. The safety of carrying cash is also a problem, and cash cannot be reported as loss.

suggestion: this method can be used for short-term overseas travel with little money, but it is only suitable as a supplementary means for travel with more money.

traveler's checks

advantages: as a new settlement tool, traveler's checks are widely accepted by tourists, hotels and banks. Traveler's checks have many currencies and can be directly used for consumption on many occasions; High denomination, suitable for carrying a large amount of money; In addition, the use of traveler's checks is also useless.

Traveler's checks are issued by internationally recognized companies or organizations. For example, American Express Traveler's Checks issued by the famous American Express Company and VISA Traveler's Checks issued by VISA International Organization can be used all over the world. Even if they cannot be directly consumed, many banks can cash them. Sign your name on the check, and when you stay in consumption abroad, sign your name again at the "countersign" of the check, and you can conclude the transaction. Spending with traveler's checks is the same as cash, and you can get change. The biggest difference between traveler's checks and cash is that they can be reported as long as they carry the purchase agreement.

Disadvantages: Generally, the handling fee for purchasing traveler's checks is about 1%, and there may be a certain handling fee for holding traveler's checks in consumption abroad. When the unused traveler's checks are exchanged in China, some expenses will be deducted.

suggestion: this is a solution between cash and international credit cards, and it is very suitable for travel when combined with a small amount of cash.

international credit card

advantages: international credit cards provide comprehensive services and are relatively safe to carry. In consumption abroad, you can swipe your card directly or use it for overdraft. No matter which bank issues a credit card, as long as it belongs to an international credit card organization, such as VISA card or Mastercard, it can be spent by all special merchants in different countries and regions, and it can also be withdrawn at member banks or at ATMs marked with "PLUS" or "CIRRUS" around the world.

no matter in which country you spend or withdraw cash, the bank will automatically convert it into the currency of your credit card for settlement according to the foreign exchange trading quotation published by the international credit card organization. You don't have to take into account the currency in circulation in the country where you sign the account, so it is very convenient to reduce the loss and trouble of foreign currency exchange and avoid the risk of carrying a lot of foreign currency cash.

Disadvantages: It takes a long time to apply for international credit cards, and the applicants are strictly examined, and the procedures are relatively troublesome.

suggestion: if you often go abroad or travel in different countries for a long time, you must apply for an international credit card. Occasionally, short-term outbound travel is not necessary.

advantages of bank draft

: generally, it is opened by a bank handling international business, and its credit standing is reliable, and the handling fee charged is the lowest. For a bank draft of US$ 2,, only a handling fee of RMB 5-2 yuan is required. The currency and amount of a bank draft can be chosen at will, and it is payable at sight. Take China Bank as an example. If there is a branch of China Bank or an account of China Bank in the local bank, the bank draft can be cashed directly.

Disadvantages: Bills of exchange can't be consumed directly, but if there is no local branch of the bank issuing the bills, it will take a long time to cash them, usually three to four days, which will be inconvenient for people with tight team schedules.

suggestion: it is suitable for a long trip with a single destination, or when you need to carry a large amount of foreign exchange. Due to the poor flexibility, this method is not recommended for ordinary outbound travel with a group.

How to handle it

Traveler's checks, international credit cards and bank drafts are available in most banks. Please consult the bank directly for details.