It definitely is stressful keepi.jpgng an eye on the Rand / Euro exchange rate. I have been doing it for 300 days! I finally took the plunge today and bought my ITC from a bank’s call centre.
Here is some advice for when you buy your International Travel Card:
- Phone the bank’s forex department and ask what their commission is.
- Also ask what a physical branch’s commission would be – usually they take from 0.5% to 1% more than a call centre.
- Ask what charges there are for getting the card. This can range from R50 to R150 per card.
- Make sure about the replacement fee if you loose it on holiday.
- Get information on what charges you pay for swipi.jpgng it at a merchant, drawing money, etc.
When phoning to buy your card, you will need to have the following information at hand:
- Your passport number
- Flight number
- ID number
- Account number (at this bank, else you need to go into their branch)
An International Travel Card is great if you buy your forex when the Rand is at it’s strongest. Your exchange rate is then guaranteed and you won’t have to worry that the Rand may make a turn for the worse and surprise you with an extra bad credit card bill!