Cash, cards or mobile payments: the ideal combination when travelling

Contents:

• Cash, cards or mobile payments – which is best for what?

• Hidden fees abroad: How to avoid unnecessary costs

• Paying securely whilst travelling: the most important tips

• The right mix of payment methods for every destination

• Frequently asked questions about paying whilst travelling (FAQ)

• Conclusion: The right mix makes all the difference

Cash, card or mobile payment – which is best for what?

An espresso in Milan, a souvenir in Marrakesh or dinner in New York – depending on your destination, a different payment method is often the better choice.

• Cash: Compact, practical and sometimes indispensable: whether it’s a tip, a visit to the weekly market or a snack from a street stall – for small purchases, cash is often the simplest solution. Especially off the beaten track, card payments aren’t accepted everywhere. However, if lost or stolen, cash is usually gone for good.

  Practical tip: Carry some local currency for spontaneous purchases, but avoid carrying large amounts of cash.

• Credit, debit and prepaid cards: Flexibility throughout your holiday:

  Whether at a hotel, restaurant or on a shopping trip – cards allow you to pay conveniently without having to carry cash around all the time. But there are differences:

  • Credit cards offer a credit limit and are often required for car hire deposits.

  • With debit cards, the amount is debited directly from your bank account.

  • Prepaid cards work on a credit balance basis. You can only spend what you’ve topped up beforehand – ideal for keeping your travel budget under control.

• Mobile payments: Leave your wallet in your pocket:

  Hold your smartphone up to the terminal, confirm the payment, and you’re done! With Apple Pay, Google Pay or a compatible smartwatch, you can pay quickly and contactlessly. Modern security measures protect your card details. Good to know: Mobile payments use your registered payment card. You should therefore still carry a physical card with you – in case your smartphone fails or contactless payment isn’t possible.

• Flexibility on the go: With the Swiss Bankers Travel Card, you can keep track of your travel budget and pay anywhere in the world where Mastercard is accepted. The prepaid card can be managed via the Swiss Bankers app and supports Apple Pay and Google Pay. Please note the applicable card terms and conditions.

Hidden fees abroad: How to avoid unnecessary costs

Small fees, unfavourable exchange rates and additional costs when withdrawing cash can put a significant strain on your holiday budget. What may go unnoticed individually can really add up over the course of your holiday. With a few simple tricks, you can avoid such additional costs.

• Always pay in the local currency: ‘Pay in CHF or in the local currency?’ This question often appears on card terminals or cash machines. What sounds convenient at first can end up being expensive: when converting to Swiss francs, it is often the retailer or cash machine operator who sets the exchange rate – and this is frequently less favourable.

  Our tip: Whenever possible, always choose the local currency when paying or withdrawing cash. This way, you’ll avoid the often-expensive instant conversion. However, any fees charged by your card provider will still apply.

• Plan your cash withdrawals in advance: Withdrawing small amounts several times? That can cost you. Depending on your card, fees may apply to every cash withdrawal. Local ATM operators may also charge additional costs. You should therefore plan your cash withdrawals in advance wherever possible and opt to withdraw a reasonable amount less frequently, rather than small sums every day. Also, check the fees displayed before confirming the withdrawal.
• Check your card terms and conditions before you travel: Not every card is equally cost-effective for payments abroad. Foreign currency fees, exchange rate mark-ups and cash withdrawal fees can vary significantly depending on the provider. With prepaid cards, additional fees may apply for topping up.

  What you should bear in mind: Compare your cards’ terms and conditions before you travel. That way, you’ll know which is best suited for purchases and which for cash withdrawals.

Paying safely whilst travelling: the most important tips

A lost card, a stolen wallet or a suspicious transaction can quickly put a damper on your holiday. By taking a few simple precautions, you can ensure you’re still able to make payments even in an emergency.

• Spread your payment methods sensibly: Don’t keep cash and cards in the same place. Keeping a spare card and some cash in a separate place ensures you have a backup payment option even if your main card is lost or stolen.
• Keep an eye on card payments: Check the amount before every payment and shield your PIN from prying eyes. Enable push notifications in your card app to spot suspicious transactions early on.
• Secure your smartphone and cards: Protect your smartphone with a secure screen lock and keep your apps up to date. Before travelling, find out how to block your cards and keep important emergency numbers somewhere other than on your smartphone.

The right mix of payment methods for every destination

Whether it’s a city break, a long-haul holiday or an adventure holiday – the most suitable payment methods depend on your destination and the nature of your trip.

• City breaks in Europe: Cards and smartphones are the way to go: Contactless payment is widely accepted in many European cities – from restaurants to public transport. Use your card and mobile payment as your main payment methods and keep some cash for smaller purchases.

• Long-haul trips: Combine cash and cards wisely: In Japan, Mexico or Morocco, cards are often accepted in larger hotels and shopping centres. In traditional markets and smaller shops, however, cash is often preferred. Pay for larger purchases by card and make sure you have enough local currency to hand. With Swiss Bankers’ cash ordering service, you can have foreign currencies conveniently delivered to your home before you set off. Orders are placed via the Swiss Bankers app using an active card and a residential address in Switzerland. The minimum order value is CHF 200, plus fees.

• Road trips and car hire: It’s difficult without a credit card: A standard credit card is particularly important when hiring a car: many car hire companies require one for the security deposit and do not accept prepaid cards for this purpose. Check the payment terms before booking. For day-to-day expenses, a card and mobile payment are ideal, supplemented by a little cash for when you’re out and about.

• Adventure holidays and remote regions: Be well prepared: On a safari in Namibia or a hiking trip through the Andes, cash machines are often few and far between. Card payments may also fail due to a lack of network coverage. Plan to carry a larger, securely stored cash reserve and take two cards with you that can be used independently.

Be well prepared: On our country information pages, you’ll find practical information about your destination – from the local currency and payment options to important travel tips.

Frequently Asked Questions about Paying Whilst Travelling (FAQ)

• How much cash should you take with you when travelling? That depends on your destination and your planned activities. In major European cities, a small amount of cash is often sufficient. In regions where card payments are not widely accepted, you should allow for more local currency. Make sure you keep your cash safe.
• Can I use a prepaid card to pay anywhere abroad? Prepaid cards are accepted at numerous outlets worldwide. There are restrictions, for example, on car hire deposits or certain hotel bookings. You should therefore check which payment methods are accepted before booking.
• Are there additional charges for mobile payments abroad? Apple Pay and Google Pay do not usually charge their own fees for in-shop payments. However, depending on the card linked to your account, foreign currency fees or exchange rate surcharges may apply.
• What should I do if I lose my card whilst abroad? Block your card immediately via the app or your card provider’s card blocking service. Then check your recent transactions for any suspicious debits and report any irregularities.

Conclusion: It’s all about finding the right balance

Having the right travel budget makes things much easier. If you check the payment options at your destination before you set off, keep an eye on fees and make provisions for unexpected situations, you’ll be able to enjoy your holiday with greater peace of mind. The key is not to take as many payment methods as possible, but to use them in a way that suits your destination and your own needs. This way, you’ll remain flexible whilst travelling, keep your spending under control and be able to focus entirely on your trip.