The excitement of travelling is undeniable and it starts even before the journey. It’s the thrill of deciding where to go, the rush from booking your flight tickets and accommodation, the giddiness you feel as you board your flight, and it doesn’t stop when you arrive at your destination. Oh, the adventures you will have!
However, there is a score of things which could dampen your travel experience, from screaming children on a long-haul flight to unexpected bad weather beating down on your destination, and the worst of all: running out of funds. The most seasoned of all travellers will always make it a point to keep their finances in check especially when visiting multiple destinations. The golden rule is to never travel abroad with only one type of money.
Not overspending and/or budgeting accurately per day is one surefire way to ensure you won’t end up broke and miserable halfway through your great getaway. But while having wads of cash on you for the entirety of your trip will give you financial security, it can also be tricky should your precious money land in the grubby hands of a pickpocket or a petty thief.
What can do you, then? There’s that option of making a withdrawal from the nearest ATM. It’s easily the best way to get cash while you travel. Hold on to your ATM card, though, because there are just a couple of things you’ll need to consider.
While international cash withdrawals are exchanged based on the wholesale exchange rate, meaning you’ll enjoy a rate that’s significantly better than a local moneychanger, most banks may add on transaction fees. This also means you’ll need to withdraw money in a lump sum instead of making multiple withdrawals to avoid being incurred with transaction fees over an over again, which will bring you one full circle to the predicament of lugging around too much cash.
You’ll also need to ensure your ATM card is linked to the Cirrus, Maestro, or PLUS networks and find a compatible bank or ATM. To add on, you must contact your bank to inform them you’re travelling in order to enable international withdrawals as sudden changes in your account activity can trigger a fraud alert and ultimately get your account frozen for the whole of your trip.
If the preparations and the risks sound like a chockfull of work and hassle, it’s because it really is. But with the RHB Bank Multi Currency Visa Debit Card, you can stash your worries away long before you even board your flight.
RHB Bank is the first Malaysian bank to introduce a Multi Currency Visa Debit Card which offers access to 13 foreign currencies alongside the Malaysian Ringgit: Japanese Yen, Pound Sterling, Singapore Dollar, Australian Dollar, New Zealand Dollar, Euro, US Dollar, Swiss Franc, Hong Kong Dollar, Canadian Dollar, Saudi Riyal, South Africa Rand, and Thai Baht. The two new cards being offered are the RHB Multi Currency Visa Debit Card and the RHB Premier Multi Currency Visa Debit Card.
With the RHB Multi Currency Visa Debit Card, RHB Bank customers will be able to better manage foreign currency fluctuation and enjoy access to transact in various currencies from anywhere in the world. This is because the exchange rates are locked in to protect your money from foreign currency fluctuations.
So, you could be frolicking in the sun along a pristine, white sand beach while admiring crystal clear waters on a Thai island and still have time to zip to the nearest ATM to withdraw the currency you need for your next Asian adventure, unaffected by local rates, even if you’ve only remembered it at the very last minute.
The RHB Multi Currency Visa Debit Card can also be used to make purchases at any of the retail outlets, restaurants, petrol stations, and any of the Visa / MasterCard / MyDebit accepted merchants. Best of all, there are no currency conversion fees on all your overseas retail spend on your preferred 13 foreign currencies. A major plus so you won’t need to carry too much cash on you and one less worry so you can really focus on your holiday.
The process is easy peasy as you’re only required to request a one-time opt-in for overseas transactions and ATM withdrawal via the RHB Bank ATM, RHB Bank branches, or the RHB Bank Customer Care Centre. It’ll take effect the next day until you choose to opt-out of the service. Once you have opted in, you won’t be required to call the bank every time before travelling overseas, a convenience which really takes a chunk out of the hassle.
Getting started is a breeze as well. If you already have a Ringgit Malaysia Current or Savings Account with RHB Bank, all you need to do is open a RHB Multi Currency Account which offers the RHB Multi Currency Visa Debit Card with a minimum initial deposit of US$1,000 or its equivalent. If not, you just need to open a Ringgit Malaysia Current or Savings Account and a RHB Multi Currency Account with RHB Multi Currency Visa Debit Card. Head on over to your nearest RHB Bank branch or call 603-92068118 for assistance.
This article was produced in collaboration with RHB Bank.