Best Budget Travel Tip
There are many sites out there that have good budget travel tips and you should try and read as many tips as you can. The more that you know the more you will be able to save, and the more that you save the sooner you can go on your next vacation.
That said, there is one very easy way to save money when you travel and that is to make sure that you have the right type of ATM card. You need to have an ATM card that does not charge fees for using other banks ATMs and that also will refund the fees that those ATMs charge.
That means you need to be signing up for a Charles Schwab account and you need to be signing up for a Charles Schwab account right now. This is probably the best budget travel tip you will ever get, but you can read some more at this link.
Budget Travel Tip: Get a Schwab Card
You may not realize it but when you are withdrawing money from foreign ATMs you were going to be costing yourself a lot of money. Some places may only allow you to withdraw $100 or $200 at a time. Every withdrawal they will have a few dollar fee from the ATM and if your bank charges a fee there is more money gone. Add in the 3% hidden foreign transaction fee and a $100 withdrawal might be costing you as much as $8 to $10.
On vacations you will probably spend a lot of money and that means you will be making a lot of withdrawals. That $8 to $10 charge for every withdrawal will add up very quickly and will be very costly. Even in countries where you can withdraw $500 at a time you are still paying an exorbitant fee for each withdrawal.
When you have a Charles Schwab card you don’t have to worry about any of that. They do not charge a fee on their end and they refund the fee that the other bank charges. They do this because they don’t have their own bank locations or ATMs, they are an online banking institution so they don’t feel it’s right to charge any fees.
If you do a lot of traveling and will be using a lot of ATMs in that are not from your own bank then having a Charles Schwab card or another type of ATM card that refunds all fees is an absolute must.
What about if you are going to be a digital nomad? You may be able to set up a bank account in each place you visit, or you may not. Having a Schwab card will help you not waste that money you make working online. Though with crypto currencies being on fire right now investing in them might be the wiser play.
In our opinion getting a Schwab Card (or one that refunds ATM fees) is the best budget travel tip you will get.