I think we pakistanis mostly rely on cash while visiting outside the country, but there are times when you may have to pay through credit cards especially being on a longer trip.
I have used Bank of America credit cards in different trips abroad but it costed me transaction fee everytime which if i remember correctly was 3%. It gets expensive if there’s a large transaction involved or if there are many.
Which modes of payment do you adopt other than cash in your abroad trips? What is your preference?
What detail should we look into while picking a credit card for payment outside the country?
Really, you were charged a transaction fee? I remember using my credit union MasterCard check card in KSA. Don't remember paying any transaction fee. Also my wife recently used at Dubai airport and in Mumbai.
Only thing we do is to call the bank, or credit card company, informing them of the travel, so they don't block the card when they see foreign transactions popping up.
most cards charge you a 2-3% foreign transaction fees - if you dont look at your statements closely, you might not even notice this. there are cards that claim not to have foreign transaction fees, but invariably they give a lower exchange rate. -__-
but despite the transaction fees, credit cards usually give you better exchange rates than most banks. so i almost always use cards over cash if its accepted.
Really, you were charged a transaction fee? I remember using my credit union MasterCard check card in KSA. Don't remember paying any transaction fee. Also my wife recently used at Dubai airport and in Mumbai.
Only thing we do is to call the bank, or credit card company, informing them of the travel, so they don't block the card when they see foreign transactions popping up.
Unfortunately yes i got served with transaction fee. I used BOA card. Infact they charged me for the same in Canada as well.
With BOA i've to inform them if I go anywhere outside north east after once they blocked it in Chicago.
With future abroad visits in line, im really looking for a card which wont deduct any fee.
I always contact my bank or check their website to see if they have partnership with any bank where I'm going. Normally cash withdrawal from the partner banks is free with good exchange rates.
In France I have account with BNP Parisbas and I can use their card in Canada from Scotia ABMs and its free. BNP also works great all over EU. In Canada, I have account in Scotia Bank and I can use their card free in France (BNP Parisbas), Italy (BNL) and Germany (Deutsche Bank). They may have partnership with banks in other countries.
So always check their website or call their customer service to find out where they offer free withdrawals.
I always contact my bank or check their website to see if they have partnership with any bank where I'm going. Normally cash withdrawal from the partner banks is free with good exchange rates.
In France I have account with BNP Parisbas and I can use their card in Canada from Scotia ABMs and its free. BNP also works great all over EU. In Canada, I have account in Scotia Bank and I can use their card free in France (BNP Parisbas), Italy (BNL) and Germany (Deutsche Bank). They may have partnership with banks in other countries.
So always check their website or call their customer service to find out where they offer free withdrawals.
But thats for cash withdrawl, wut if we dont want to get cash rather still use the CC.
Unless you are implying that we should prefer this cash withdrawl over using CC itself.
Well if somebody wanted too, they got put a gun to your head and force you to an ATM with your credit card. I've never been a big fan of plastic money....I like feeling the money I have...lol.
But thats for cash withdrawl, wut if we dont want to get cash rather still use the CC.
Unless you are implying that we should prefer this cash withdrawl over using CC itself.
Ok, my bad, I read your post quickly so thought you were asking for free cash withdrawal. I'm not a big spender on my trips. I usually pay in cash. I just take enough cash with me for one or two days and later I withdraw as and when I need.
In your case, there will be fees when you are using CC. Your CC may have some incentive for you to stay in their partner hotel or travel through their partner airline or shop in a particular shop without any transaction fees. Other than this if you get a platinum or gold type of CC then may be they'll not charge you any fees, but I don't have any knowledge about it.
Doesn't Citibank have branches in Pakistan? I wonder if it treats you as a customer whether you're there or here. May be worth checking out. I remember seeing Citibank branches in Pakistan. Not sure what other banks have branches there that are also mainstream here.
Doesn't Citibank have branches in Pakistan? I wonder if it treats you as a customer whether you're there or here. May be worth checking out. I remember seeing Citibank branches in Pakistan. Not sure what other banks have branches there that are also mainstream here.
Yes for sure citi has branches. But my original question was about usage of CC without paying any extra fee, if there's any option? I'll surely check citi but i've its master and I remember very well there were few places in pak who did accept visa but not masters.
Yes for sure citi has branches. But my original question was about usage of CC without paying any extra fee, if there's any option? I'll surely check citi but i've its master and I remember very well there were few places in pak who did accept visa but not masters.
Yes, Citi only provides Mastercard I believe. Since they have branches there, they may not charge you a transaction fee for conducting business in Pakistan because they bank in the country. Everyone else I believe does charge transaction fees.
But, I couldn't say for sure. Best to call your local Citi branch and found out.
Is it just me or it does happen that when you visit pakistan, by the end you run short of cash? Especially when there is any family wedding within tenure as well. @KKF now i know who transfers million of $$ to India :cobra:
hahaha…Western Union goroN kii HunDii [Hawaala] system hai.
i dunno about Pakistan but if you send money to India through Western Union, the maximum amount that you can send is Rs. 55000…if you wanna send in excess of the limit, the money needs to be transferred to a bank account directly.
the maximum amount limit to withdraw money directly from your foreign account, using the local Bank ATM machine is Rs. 15000 per day.
