Before you head off on your holiday, there are some key tips for saving money with your credit or debit card. Many banks charge fees for using cards, especially when you’re overseas and making payments or withdrawals. But did you know there are options with no commissions and free debit cards?
Revolut, N26, TransferWise, Monese, Bunq, and Vivid all offer cards that won’t charge you any fees. It might sound too good to be true, but these services have been around for years and can help you save money while traveling.
Revolut Ltd is a digital banking solution that offers a pre-paid debit card (MasterCard or VISA), currency exchange, cryptocurrency exchange, and peer-to-peer payments. With a free account, you can withdraw up to 200 EUR per month without any extra fees and spend abroad with no fees, using the real exchange rate in over 130 currencies. You can also send money globally for free, making fast, secure transfers to bank accounts in over 120 countries. Additionally, Revolut offers travel insurance starting at just £1.00 or €1.00 per day, with smart geolocation technology that can automatically adjust your coverage based on your location.
Vivid Money, based in Berlin, is an international organization with teams in Amsterdam and Moscow, comprising 180 professionals from over 25 nationalities. Vivid aims to create a mobile bank that helps customers grow their wealth through smart financial management.
N26 is Europe’s first mobile bank, providing a free basic current account and a Debit MasterCard. They offer overdrafts, investment products, and premium current accounts. With N26, account opening is quick and easy, taking just 8 minutes. You get an IBAN and can perform all traditional banking activities right from your phone. N26 has also partnered with TransferWise for international transfers in 19 foreign currencies, offering rates that are up to six times cheaper than those of traditional banks. For those who travel frequently and withdraw more than 500 EUR monthly in non-euro currencies, the N26 Black account at 5.90 EUR/month may be a better option as it waives these fees.
Monese specializes in current accounts and doesn’t require proof of a local address, making it ideal for mobile people across Europe. Regulated by the FCA, Monese ensures your money is safe by holding it in major banks. Their card allows you to make payments in multiple countries with ease, and their app is available in 12 languages.
TransferWise’s borderless account comes with a debit card that lets you spend globally at the real exchange rate with low conversion fees and no transaction fees. You can receive payments from over 30 countries without any fees using instant international bank details.
Wirex offers accounts that let you buy and exchange multiple currencies at live interbank rates for free. Their Visa travel card allows you to spend in over 150 currencies at real-time exchange rates and earn up to 1.5% cashback on purchases. The company is FCA-regulated, and their card is accepted at millions of global locations.
Bunq is a modern bank designed to make banking easy, transparent, and fun. Their app was launched in 2015 and has been continuously innovating to make money management effortless. Bunq offers different plans for travel, money management, and environmentally-conscious banking, all without monthly fees.
All of these services focus on modern design, personalization, low fees, and excellent customer service to attract users. Ordering a debit card from any of these companies is usually free, so you can test these options without any risk.