6 money handling tips for business travellers

Posted by gauri mishra on May 24th, 2019

If you are someone who travels around the world frequently for work, you may know that managing money is a tedious task. You have to navigate international currencies, observe the exchange rates, and make sure you are using the right business card for travel. Let’s consider you are travelling India from Australia; you should be aware of some hacks and tips for managing your funds well while travelling. If you convert AUD to INR rightly, it ensures you are not ripped off in the process.

Following tips will ensure you get the perfect AUS dollar to Indian rupee rates and other vital items to carry along:

1)      Do research: It is better to do your homework before leaving for your trip. Before you go on to convert AUD to INR, make sure to look up for information such as local currency, exchange rates in the visiting area. If you are visiting different countries and would have to deal with different currencies, you can download a currency conversion app, which enables you to conduct real-time conversions. Also, check if the visiting area is credit card-friendly. This way you can determine how much cash you would have to carry. Else, you can always rely on forex cards. This would not incur additional costs as well.

2)      Identify currency exchange places: The top priority for every business traveller is finding the right currency exchange vendor. It is the place where you can find the best deal and do AUS dollar to Indian rupee conversion. Ideally, business travellers should exchange currencies before leaving for a trip at their local bank or money exchange services. They offer the best deal. However, avoid airport kiosks. Some banks have ATMs in the visiting area. This is a bonus point. But they come at an international price.

3)      Use a card with the smart chip: If you are planning to use your credit or debit card, ensure it is smart chip-enabled. Such cards are most secured, especially if you are travelling to an unfamiliar area. You can eliminate theft and fraudulent activities this way.

4)      Notify bank: Before heading for your overseas trip, inform the bank about the duration of your trip and the location. If you forget to do so, they can freeze your card. Fortunately, banks allow you to do so on their app. For this purpose, you require a decent WiFi or data connection. Do this deed before boarding your flight.

5)      Pay outstanding dues: Make sure you have paid your dues before boarding the flight. A good strategy is to set an automatic payment schedule. This way the money gets debited from your account even without internet access. Note that some countries have blocked certain websites, which may not provide you access to some portals. The best way is to ensure the payment gets done or automatically schedule them.

6) Do not sweat the small stuff: Unexpected expenses may arise, especially when you head for an extended business trip. Make sure you have a plan in place to see how you will handle your money. Before you convert AUD to INR, plan your finances well. It is wise to add a bit of cushion to your travel budget.