{"id":35475,"date":"2022-01-18T18:22:12","date_gmt":"2022-01-18T10:22:12","guid":{"rendered":"https:\/\/www.you.co\/sg\/?p=35475"},"modified":"2022-11-02T18:34:49","modified_gmt":"2022-11-02T10:34:49","slug":"overseas-spending-2022","status":"publish","type":"post","link":"https:\/\/www.you.co\/sg\/blog\/overseas-spending-2022\/","title":{"rendered":"Overseas Spending 2022: Cash, Credit Card, Crypto.com Visa Card or YouTrip Multi-Currency Card?"},"content":{"rendered":"\n

Here\u2019s our tried-and-tested experience crafted into a quick and easy read to help you decide which way of overseas spending is best for you when travelling in 2022.<\/strong><\/h2>\n\n\n\n
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How far we\u2019ve come since the days of money-changers and envelopes<\/a> packed with foreign currency<\/a>. While having cash on hand is still a good idea, there are a ton of other secure (and financially savvy) ways to carry out the majority of your overseas spending. And because Vaccinated Travel Lane tickets are about to be re-released in about a week or so, we\u2019d thought that now\u2019s as good a time as any to talk about the various ways you might be spending \u2014 before and during the trip. We\u2019re talking about the Crypto.com Visa card<\/a>, credit cards, our multi-currency card<\/a>, as well as cash. So in the chance that you find yourselves planning for a future adventure, read on for the 4-1-1 on all things overseas spending!<\/p>\n\n\n\n

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Our Initial Plan<\/strong><\/h2>\n\n\n\n
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\"Overseas<\/figure>\n\n\n\n
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For a recent 10-day trip to Germany via the Vaccinated Travel Lane, my partner and I collectively brought \u20ac320.45 (~S$557.70), two credit cards, a Crypto.com Visa card, and, of course, our trusty YouTrip card\u200b. For context, we assumed that we would not be using much cash and would only be needing it for places where cards were not supported. We were pretty much banking on the Crypto.com Visa card (for its 2% cashback), as well as our YouTrip card (to escape any bank fees) for most of our purchases. The credit cards we brought along (Citi\u2019s PremierMiles and OCBC\u2019s 365) were backups \u2014 just in case, everything else didn\u2019t work. As with life, things didn\u2019t turn out as we had planned. <\/p>\n\n\n\n

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What Actually Happened<\/strong><\/h2>\n\n\n\n
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\"Overseas<\/figure>\n\n\n\n
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We quickly realised (right at the car rental pick-up point) that our Crypto.com Visa card did not work in Germany. And soon, we found out it wasn\u2019t the car company. Our card wasn\u2019t working for anything. <\/em>This included petrol kiosks and even hotel bookings that we had made in Singapore. It was quite a bummer because we were drawn by their attractive cashback function. Later on, we heard through the grapevine (i.e.various Reddit threads) that it was mainly cards issued in Singapore facing the same problems we had \u2014 most think that this all boils down to the lack of authorisation to handle overseas merchant payments just yet. On the other hand, users from other countries seem to have no issues. <\/p>\n\n\n\n

Thus, we were left to choose between the \u20ac320.45 we had brought along with us, our YouTrip card, or our two credit cards. Credit card markups of currency conversion and bank fees were something we just did not feel like dealing with. Plus, on top of all that, a lot of Christmas markets, small kiosks and small stores required cash instead of digital transactions. Thus, we ended up using our YouTrip card to withdraw about another \u20ac100 (S$5 withdrawal fee) \u2014 and collected another \u20ac130 refund when an activity that we had booked didn’t happen due to weather conditions. For everything else, we paid via our YouTrip card.<\/p>\n\n\n\n

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Pros & Cons Of Each Overseas Spending Method<\/strong><\/h2>\n\n\n\n
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<\/td>Pros<\/strong><\/td>Cons<\/strong><\/td><\/tr>
Cash<\/strong><\/td>\ud83c\udf89 Not reliant on technology

\ud83c\udf89 Preferred method of payment for most stores in Germany<\/td>		\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f <\/strong>Not the most hygienic method of transaction

\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f Coins can get quite bulky\/heavy

\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f Higher risk of getting scammed with fake bills
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Credit Cards<\/strong><\/td>\ud83c\udf89 <\/strong>Good for raking up points or miles for rewards

\ud83c\udf89 Bank can easily deal with fraudulent charges if any<\/td>		\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f<\/strong> Conversion fees and bank fees can add up quite quickly

\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f Tendency to overspend 

\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f Can rake up interests if the debt isn\u2019t paid off ASAP
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Crypto.com Visa Card<\/strong><\/td>\ud83c\udf89<\/strong> Earn from 1% to 8% cashback (cashback depends on staking requirements)

\ud83c\udf89 Functions like a regular debit\/credit card
<\/td>		\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f<\/strong> Card issued in Singapore didn\u2019t work in Germany<\/td><\/tr>
YouTrip Multi-Currency Card<\/strong><\/td>\ud83c\udf89  No markups, bank fees or conversion fees

\ud83c\udf89  Sweet wholesale exchange rates – updated constantly

\ud83c\udf89  Up to 10% cashback on hotels and flight deals on YouTrip Perks<\/a>
<\/td>		\ud83d\ude45\ud83c\udffb\u200d\u2640\ufe0f Only certain transactions (those on YouTrip Perks) will bring cashback
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Take Your YouTrip Multi-Currency Card Along For Your Next VTL Adventure!<\/strong><\/h2>\n\n\n\n
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\"Overseas<\/figure>\n\n\n\n
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And just like that, you’re ready for your next adventure overseas! Just remember, when you go on your next holiday or on your next online international shopping spree<\/a>, take your YouTrip card with you in order to make full use of our wholesale exchange rates (i.e. no pesky bank fees<\/a>!). <\/p>\n\n\n\n

Sign up now and be sure to check out our YouTrip Perks<\/a> page for exclusive offers and promotions too! For more great tips and articles like this, join our Telegram(@YouTripSG)<\/a> and subscribe to our free weekly newsletter here<\/a> or down below! <\/p>\n\n\n\n

And while you\u2019re at it, why not join the conversation with thousands of #YouTroopers in our very own Community Telegram Group @YouTripSquad<\/a>? Get tips and tricks to everything YouTrip including exclusive invites to exciting events and experiences, & be part of the #YouTripSquad! \ud83d\udc9c<\/p>\n\n\n\n

Stay safe, and happy travels!<\/p>\n\n\n\n

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Related Articles:<\/strong><\/p>\n\n\n\n

How To Save on Luxury Bags in Europe 2022: Stores, Costs & More<\/a><\/strong><\/p>\n\n\n\n

Multi-currency Card For Travel Spending 2022: YouTrip vs Instarem Amaze vs Revolut vs Wise<\/a><\/strong><\/p>\n\n\n\n

Fake Foreign Currencies & How to Avoid Them<\/a><\/strong><\/p>\n\n\n\n

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*All currency conversion rates are accurate to the nearest 10 cents on 14 January 2022 SGT 14:30. Bank card prices are calculated based on 3.25% foreign currency transaction fee<\/em>.<\/sup><\/p>\n","protected":false},"excerpt":{"rendered":"

Which way is best?<\/p>\n","protected":false},"author":53,"featured_media":35476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[621,623,624],"tags":[39159],"class_list":["post-35475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-foreign-exchange","category-lifestyle","category-travel","tag-vtl"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/posts\/35475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/comments?post=35475"}],"version-history":[{"count":0,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/posts\/35475\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/media\/35476"}],"wp:attachment":[{"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/media?parent=35475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/categories?post=35475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.you.co\/sg\/wp-json\/wp\/v2\/tags?post=35475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}