If you’re looking to use your debit card abroad and want to avoid nasty fees and charges, you’ve come to the right place.
The past few years has seen an emergence of new trendy mobile-only bank accounts, which come equipped with their very own physical debit card.
The process is simple. You sign up for a new bank account by downloading an app, verify your details and simply wait for your card to come through the post.
You can then use this card and bank account for your every day needs or reserve it for the more interesting part; travelling.
Most of these debit cards will allow you to withdraw money abroad for free! Yes, thats right, absolutely free!
I was fed up with taking cash abroad with me, or heading over to exchange shops, so therefore started looking into other alternatives. I therefore went ahead and applied for several of these accounts and can say I never looked back.
These cards not only allow you to withdraw cash abroad for free, but also allow you to pay for any goods/items for free as well. As long as a vendor takes card payments, you’re good to go.
Applying for the bank accounts and receiving a physical card is absolutely free. Also, as its all done via an app, its easier and quicker to manage payments.
Below are some of the best debit cards I have downloaded and used personally whilst travelling:
Monzo
Setting up a Monzo card is absolutely free through an app. After signing up, you have to wait 2-7 days to receive your card. Using the ATM using your card is absolutely free wherever you may be in the world (unless of course the ATM specifies a fee itself!). You can load your card with money by transferring money into it, and you can also send money for free. You can pay for goods at home and abroad for free using the chip and pin method or by going contactless.
Whilst there is no withdrawal limit on the card, when abroad and travelling, you can withdraw up to £200 every 30 days free, with a 3% fee thereafter. Even with this 3% fee, you’ll still get an awesome exchange rate.
I must say, Monzo gives one of the best exchange rates around. Even better than some of the exchange shops you’ll come across.
Sign up for a free Monzo account now by clicking here
For more information on Monzo, click here.
You will not have to inform the bank that you’re travelling to be able to withdraw for free.
Curve
Curve is very similar to Monzo with some subtle differences.
Similar to the Monzo card, you can download, get set up and order yourself a physical card all for free. You can also withdraw up to £200 for free at any ATM in the world. However, if you go over the £200 mark, you will be charged 2% or £2 for every withdrawal (whichever is higher) and not 3% like Monzo.
Not a bad deal if you ask me.
There are three types of Curve cards you can get. The free one is called a Blue Card and this can be used for free abroad when travelling to withdraw up to £200. There are other packages with Curve if you’re interested, where you pay a monthly cost and receive certain benefits. Click here to find out more.
To sign up and get yourself a free Blue Card, click here now. You can use the Blue Card to withdraw up to £200 free when abroad.
If you use the link above, you’ll also get £5 absolutely free for signing up!
For more information on Curve Travel Card, click here.
You will not have to inform the bank that you’re travelling to be able to withdraw for free.
We Swap
This card also offers free withdrawals when travelling and when abroad, however, it has another awesome feature.
If you sign up for a We Swap account, you not only get a free card to use abroad and at home, but you also get to swap your local currency/money for foreign money through the app. This basically means, you don’t have to make a trip to that exchange shop before your trip.
Let me explain how it works:
Using the app, you can load money onto the account. This can then be used to swap the money into a foreign currency. Once this has been done, you will see a new amount on your account which will be the foreign amount. You can use this at your next holiday destination to withdraw, pay by contactless and also using the chip and pin method.
The only downside to We Swap is that when withdrawing cash abroad using an ATM, you have to withdraw more than £200/$200/€200 for it to be free. If you withdraw anything less than that, you will be charged £1.50/€1.75/$2.25.
To sign up for this card and receive £5 for signing up, click here.
For more information on the We Swap card, click here.
You will not have to inform the bank that you’re travelling to be able to withdraw for free.
Revolut
Revolut is another great bank card which can be used to withdraw money for free, wherever you are in the world. As long as you have access to an ATM, you can go ahead and withdraw up to £200 for absolutely no charge whatsoever.
You will not have to inform the bank that you’re travelling to be able to withdraw for free.
Revolut has three different types of accounts; standard account (free), pemium account (£6.99 p/m) and lastly their metal account (£12.99 p/m).
With their free standard account, you can withdraw up to £200 free when abroad. However with their premium account and metal account, you can withdraw upto £400 and £600 respectively.
With the free account, you’ll be charged a 2% fee if you withdraw anything over the £200 limit.
What’s cool about Revolut Metal Account, is that it comes with an Airport Loungekey Pass which gives you free access to one of over a 1000 lounges for absolutely free. Whilst lounges can cost anything between £25-£50, this is definitely an amazing grab when you’re paying only £12.99 for the Metal Account.
Click here to read more about the different accounts offered by Revolut.
To get your free Revolut card, click here to sign up. If you choose not to sign up using the referral link, you may have to pay a charge of £4.99 to get the card delivered.
Conclusion
With the invention of these trendy digital banking alternatives, now is the time to take advantage. With free cash withdrawals abroad, free transfers, free bank cards and awesome apps for everyday money management, you’ll be beating yourself up for not finding out earlier.
Muslims Go Travel 