Vacation planning: How to avoid unpleasant surprises when making payments!

Vacation planning: How to avoid unpleasant surprises when making payments!

The travel season is just around the corner, and a recent survey commissioned by Postbank shows that many Germans take different approaches when planning their travel budget. A total of 39% of those surveyed try to roughly plan their travel budget. In contrast, almost 20% decide to do it spontaneously and take cash with them, while around 15% pay on holiday as usual in everyday life. 14% of consumers are particularly conscientious and plan their financial resources in detail to avoid unpleasant surprises.

Martina Brand from Postbank gives practical tips for the ideal combination of payment methods: A combination of credit card, debit card and cash is advisable and should be adapted to the respective holiday country. It can be important to use digital payment methods, especially in countries like Sweden, where many shops and restaurants do not accept cash. The limits for paying and withdrawing cash with debit cards should also be adjusted in a timely manner. These limits can often be adjusted yourself in online banking, but at certain banks this requires personal contact with customer service.

Important tips for spending on vacation

After returning from vacation, it is important to carefully review bank and credit card statements. According to Postbank, receipts for expenses on vacation should also be collected and checked at home. Unauthorized direct debit bookings can be disputed directly in online banking, while complaints about credit card payments must be submitted to the credit card company within 120 days of the transaction. For payments in a foreign currency, refunds will also be made in this currency, including any applicable fees.

In addition to the payment methods covered in Postbank's survey, the consumer advice center highlights the advantages and disadvantages of different payment methods abroad. Cash remains an easy payment method that is accepted almost everywhere. However, travelers should carefully consider how much cash they take with them. Factors such as the length of stay, the risk of losses and the possibility of using other means of payment play an important role here.

The right choice of payment method

The consumer advice center recommends splitting up your cash supply and storing it safely. When traveling outside the Eurozone, part of the money should be exchanged for the respective foreign currency. In addition, debit cards, formerly known as debit cards, are a good option for withdrawing money and making payments abroad, while Maestro cards are accepted worldwide but carry skimming risks. Fees may apply for using bank cards abroad, which is why it is important to find out about the relevant conditions beforehand.

Direct conversions into euros at ATMs and card payments should be avoided to avoid unnecessary costs. Although traveler's checks are becoming less common, they provide security and insurance coverage. For further money transfers abroad, more expensive services such as Western Union or Moneygram can be used, although a comparison of the conditions is also essential here.

For a relaxing vacation, well-founded travel budget planning is essential. By following the tips listed above, you will ensure that you are financially secure both during and after your vacation. You can find a lot of valuable information on the website Postbank and the Consumer advice center.