Scour through your social media feed and you will likely come across friends or family members expressing wonder at the thought of boarding a plane again after the long hiatus caused by the pandemic. Chances are you, too, might find yourself getting reacquainted with different procedures at various checkpoints all over again.
Much has changed for the tourist, with mobile payments and e-wallet solutions being the preferred mode of transaction for many vendors, including street hawkers. However, e-wallet solutions tend to be geographically limited, depending on the reach of the particular service provider.
For those who have packed their bags with an overseas destination in sight, here are some recommendations that transcend geographical boundaries and do away with trips to the local money changer. All these apps are available on iOS and Android.
BigPay
BigPay is a money app that you can download and install for free, and it is even accompanied by a physical card that can be used worldwide, including at local ATMs. It is compatible with Visa or MasterCard merchants, so you might want to give those American Express exclusives a miss.
BigPay claims to provide the best exchange rates and, for those who have a tendency to go overboard, there is a built-in expense tracker to help you stay on top of every single purchase. For added peace of mind, security comes in the form of a PIN, OTP, or Touch ID activation.
Wise
Wise is an international debit card that does not require you to fork out a single sen in fees. It offers a mid-market exchange rate without any additional markups, and allows you to send international bank payments to more than 80 countries worldwide.
Of course, sending such payments will incur small charges depending on the destination, but these are minimal. You can also withdraw local currency from ATMs at your destination country – again, for a small fee.
In terms of flexibility and costs, Wise seems to be the better choice owing to its lower charges across the board.
Revolut
If you are comfortable performing transactions over your handset, then Revolut fits the bill perfectly. It takes mere minutes to open a free account on your smartphone, after which you can perform global transfers in a cinch without having to deal with hidden fees.
You will also have a debit card that lets you spend overseas without having to worry about receiving a shocking bill at the end of the month.
There are different tiers for its multi-currency account that boasts various features and fees. Spending abroad has never been easier, and there are also smart budgeting and analytics tools to help you keep everything under control.
Plus, if you are feeling adventurous, there is the option of investing in stocks from the app itself with just a single touch.
Merchantrade
Merchantrade works pretty much like all the other services listed above. You have a mobile app that allows you to purchase selected foreign currency while being furnished with a physical debit card.
Exchange rates differ on a daily basis, and you can also perform payments at Visa merchants and make withdrawals from Visa ATMs worldwide.
There are different channels to fall back on for top-ups and withdrawals, while a convenient PIN security measure on the mobile app provides more protection. You can even purchase travel insurance through the app.
At the end of the day, it is highly recommended you travel armed with different payment modes. It is always wise to have some local currency on hand at the destination country, a credit card or two in case of emergencies, and your mobile app to cover all possible scenarios.
Ensure all the installed mobile-payment solutions have been properly configured and linked to your credit/debit cards and personal identification information before you leave. It also does not hurt to carry around a couple of US dollars regardless of where you are headed, simply because it is easy to exchange those when you are in a tight spot.
At the end of the day, stick to service providers you are most happy with. Their rates and service fees differ from time to time due to the competitive nature of the industry, so it pays to keep a close eye on their latest promotions to obtain the best bang for your ringgit.
Happy travels, and stay safe!
Edwin Kee dreamt of being a pro-gamer only to have circumstances mould him into a programmer in a past life. He has since moved on to write about consumer electronics and other topics. Check out his blog at manatau.com.