Notifying your bank of your trip

It’s always a good idea to notify your bank before you leave to:

• Inform them of your upcoming travel plans: Your bank may assume your card has been stolen and block it when you try to withdraw money abroad. Save yourself the headache and let them know in advance! Note that you are under no obligation to close your bank account during your stay abroad.
• Apply for an overdraft: It’s a good idea to have a safety margin in case of big expenses (like plane tickets!)—but make sure to check applicable fees.
• Increase your weekly or monthly withdrawal limits: They are often not high enough for initial expenses (rent, deposit, furniture, etc.).
• Set up online banking: If you’re not already using online banking, now is the time to start. You should also find out about adding a beneficiary to make online transfers. Some banks text you a verification code on your mobile phone (a number you won’t have access to while abroad) or post it to your home address… Ask about options that could make the process easier while you’re away.
• Ask about changing the security features for online payments: If 2FA is enabled, payment can only be completed after entering a security code texted to your phone—again, a number you won’t have access to while travelling. Many banks now offer 2FA via their app, but you must set it up while still at home.
• Check your banking agreement: If your agreement is about to expire (e.g. because you are no longer eligible for “student offers”), you could find yourself with a very basic account or a default expensive package.
• Set up a power of attorney: Giving power of attorney to someone you trust can be a good idea, as they can manage any banking problems on your behalf.

Then, you may want to start researching banks in your destination country because you will need a local card and account, especially if you’re planning to work.

Don’t forget to exchange some money

Find out about the local currency before you leave, especially the conversion rate.

You don’t have to take local currency with you, but it might be useful to bring some cash just in case you can’t find an ATM right away. Airport ATMs may charge a higher fee or be completely empty.