What Money Do You Have For Traveling Abroad?

What's the money for traveling abroad?

People tend to choose cash, purchase traveler's checks, bank draft and so on.

The characteristics of cash are easy to carry, and also common currency, which is acceptable to any unit or individual.

However, because of the prevalence of counterfeit banknotes, especially the counterfeit banknotes and the different regulations of different countries on the management of local currencies, cash is not as good as it is supposed to be.

If there is any damage to the banknote in Singapore, it will refuse to accept it, which adds a certain risk to the bearer.

From the point of view of financial management, the price of travellers' purchases is the same as that of traveler's checks, but the price of banknotes will be much lower than that of travellers' cheques if they are returned to RMB after returning to China.

In addition, once the bank notes are lost, they will not be reported.

As a new way of settlement, traveller cheques have been accepted by tourists, hotels, banks and markets in recent years. They have many advantages, such as good reputation of issuers, most of which are international financial companies or banks.

The currency is not large, the denomination is fixed, ranging from 10 to 1000 or even 10 thousand yuan. The security is good. It is necessary to sign at the time of purchase. When it is paid, it needs to be signed in person, and the two must be consistent.

The disadvantage is that the cost is higher. When buying, it must pay 1% of the handling fee. Sometimes, when the bank pays, the bank will charge 1% more.

Traveler's checks are not lost, they are not registered.

(with the competition of the business, some issuers have already been able to report the loss). The bank draft has its own characteristics: it is generally opened by foreign exchange banks that handle international business, with reliable credit and low cost.

Its disadvantage is that it must be handled through banks, and it is not easy to accept in hotels and restaurants.

Through these simple comparisons, I believe that people who travel abroad can choose a cost-effective way of settlement according to their own requirements.

Wei