What are good ways to use money abroad?

Travelling abroad is where the challenger banks really come into their own, with no fees for transactions (paying in the currency of the place you’re in usually works out best) and free cash withdrawals. But there are some travel credit cards out there as well.

Debit cards

Monzo - free to use your card abroad, free cash withdrawals in the EEA and £200 free cash withdrawals every 30 days everywhere else.

Starling - free to use your card abroad, free cash withdrawals of £300 per day.

Revolut - free to use your card abroad, free cash withdrawals of £200 a month or five withdrawals (whichever comes first).

Kroo - free to use your card abroad, free cash withdrawals of £300 per month.

First Direct - free to use your card abroad, free cash withdrawals of £500 a day.

Virgin Money - free to use your card abroad, free cash withdrawals of £500 a day.

Credit cards

If you already have cash or don’t think you’ll be needing it, you might consider using a credit card abroad. Using a credit card might also be a good idea if you are planning any big purchases (like hiring a car) or want a bigger safety net in case things go wrong. But there will be charges if it’s not paid off in full and you’ll have to apply for one the same way you would any credit card.

Monzo, NatWest, Halifax, Virgin Money and Barclays all have credit cards that are free to use abroad (and actually, Halifax and Barclays have free cash withdrawals too).

Action of the week: Next week’s newsletter will be coming out on International Women’s Day eve - any special requests?

p.s happy travels to Nat’s mum.