Is your bank prepared for summer travel plans?
Summer travel season is right around the corner. According to an IPX report 50% of Americans are planning to travel more in 2024 than they did in 2023, with 38% planning to travel internationally. Is your bank prepared to help your customers with foreign currency needs?
This is likely not a consideration or is often a last thought for most International travelers. Bringing foreign cash and how much to bring is an important consideration, allowing individuals to travel without payment worries. In a world that is becoming more digitally focused, cash remains the most widely accepted payment type worldwide.
Why your customers should have foreign currency while traveling internationally
- Cash is king, no worries encountering technical issues with card payments
- Many international merchants prefer cash, as exchange rates can affect their profit
- Cash can allow bargaining power for a better price on a product
- Paying for tips and splitting bills is easy with cash
- Having cash for small transactions ensures you’re not continuously exposing cards to possible fraud
Now that we know why cash is important when traveling, how much will be the next question you may receive. Here are some useful tips to follow:
“How much currency” – Destination Spotlight
- How Much Currency You Need to go on Vacation to London, United Kingdom
- How Much Currency You Need to Go On Vacation to Cancun, Mexico
- How much currency you need to go on vacation to Bali, Indonesia
- How much currency to bring to vacation to Milan, Italy
- How much currency to bring to vacation to Tokyo, Japan
- How much currency to bring to vacation to Vancouver, Canada
Bankers’ Bank can help you determine the International Services that are right for your bank.