We’re getting closer to the time of the year when everyone starts to go to the gym, book flights and cruises, and pack up their bags. It’s almost summertime – one of the best periods of the year, often marked by exciting experiences and adventures, travelling, and lots of fun.
Like most people, you’re likely gearing up for your summer trip, as you should. But before you get swept up by a whirlwind of activities, let’s help you prepare for some challenges you may face with making payments in different countries. Foresight will save you time and money, and we’ll guide you in this article.
Financial preparations for traveling overseas
Have you heard anyone say, “Nothing ruins a good time like finance talks”? Well, we understand that discussing the financial aspects of your business can put a damper on the fun, but it’s vital to cover all the bases to ensure you have the best time possible. That includes your budget, making payments for your trip, travel insurance and expenses, exchanging money for your trip, and how you plan to make payments during your trip.
Planning your finances in preparation for a trip overseas is important. It can be tedious, but it’ll help you ensure you don’t overspend, and also take a lot of anxiety that comes with travelling to a foreign country. Also, you can avoid common mishaps relating to poor foreign exchange rates, being stranded with the wrong currency, or difficulties getting cash when you arrive at your destination.
You need a budget, a solid plan for making all the payments you need, as well as arrangements for when you arrive. All this planning can seem a bit scary, but not to worry, we’ve got your back. Let’s break it down, starting with creating a perfect budget for your trip abroad.
How to create a travel budget
Your travel budget should encompass your expenses before and during your trip. To create a realistic budget, write down a list of all the things you need before you travel.
This could range from your luggage, vaccinations you may need, clothing, visa fees where applicable, etc. Take your time to ensure you do not leave anything out, and include the cost of each item on your list to give you an idea of how much you would need.
Next, you need to plan for the big bills; these include your accommodation, flight tickets, transportation, and other expenses you’ll incur such as feeding, sightseeing, or buying souvenirs.
Once you’ve gone through all your expenses, you will have a good idea of what you need to make your dream vacation a reality. The next step is to plan for these payments.
How to plan for payments for an international trip
Majority of your preparatory expenses can likely be made using your local currency, but the same cannot be said for other expenses like your flight ticket, booking accommodation, or arranging for transportation services when you arrive.
Chances are that you’ll need to make these payments in the currency of your destination country. Now, we understand that it may be a bit difficult to access some currencies, which is why we have various options available for you to make your payments seamless.
We advise that you get an account in the destination country’s local currency to enable you make your bookings beforehand, as well as make payments seamlessly when you arrive. That might seem like a herculean task, but don’t worry, you’ve got us!
We can help you set up a multi-currency account before you leave home, so you don’t need to worry about how to make your payments after you travel. We’ll tell you more about what a multicurrency account is and what capacity you can use one to provide yourself with a seamless travel experience.
How to use Leatherback multi-currency accounts for the best travel experience
There are many benefits of using Leatherback multi-currency accounts, but we’ll focus on how to use it to your advantage when you’re traveling this summer. Let’s outline some of the benefits of getting a Leatherback multicurrency account, as well as how to set up your account to ensure you have everything set for your trip.
You can use your Leatherback account to sort out your travel insurance and expenses. It will come in handy when you need to make payments in another currency. There are over 15 currencies available on Leatherback, in 40+ countries. Chances are, your travel destination is one of them.
Book your accommodations using your account. You could either pay with your local currency using the Sendr tool, or get an account in the currency you want and make a bank transfer in minutes. You have lots of options, feel free to use them.
You can also exchange currencies before you get on the plane, and have money available easily at great rates. You’ll feel a lot more comfortable when you know you have enough money in the right currency to sort out any emergencies that may arise.
Lastly, if you don’t end up using all your vacation funds, you can easily exchange them back to your local currency in seconds at no additional cost. All from one place to provide you with ease and comfort.
How to set up your international account before your trip
Before we go, let’s help you set up your international account for your trip, so you can tick one more thing off the list of things to do to get prepared. It’s pretty easy, and you can complete the signup process and request for an account in minutes. All you have to do is follow a few steps.
Step 1: Visit the Leatherback WEBSITE. On the sign in page, click on Sign up.
Step 2: Next, fill in your details, and choose how you want to receive the OTP for your verification.
Step 3: Once you’re done, tick the box to accept the terms and conditions before you Create your Account.
Step 4: Enter the OTP you received. If you didn’t get one, click on Resend and a new token will be sent to your registered email address in seconds!
Step 5: After putting in your OTP, click on Verify.
Step 6: Once your email address has been verified, you can now log into your account with your email address and password.
And that’s it! You’ve successfully signed up on Leatherback! All that is left is to set up your account, and request for your international account. You can watch a video on how to set this up HERE.
Your perfect summer is almost within reach. When you follow the steps in this guide, you’re sure to have a vacation to remember!