Information checkedInformation unaudited Information geprüft Information ungeprüft My travel payment methods
Every year, we pack our suitcases and head off on a well-deserved holiday, whether by plane, car, camper van, bike or any other means. But a successful trip requires careful planning and preparation. One important aspect of this is choosing the best way to pay for things abroad. We’ve traditionally relied on cash, but is this form of payment even still practical in today’s age? And what are the pros and cons of the different travel payment methods? Here are a few tips for your holiday.
Cash
In many countries around the world, cashless payments are becoming the norm. In the Nordic countries in particular, you hardly even need cash anymore. That’s why the LLB now only offers British pounds, US dollars, euros and Swiss francs. All other currencies can be ordered through Swiss Bankers. Because these foreign currencies are ordered through a third-party provider, LLB employees no longer benefit from staff exchange rates or fee-free orders. When abroad, it is therefore recommended to obtain foreign currency from an ATM and to use the VISA debit card for payments whenever possible.
VISA debit card
To avoid any payment complications, check in “my cards” (online and mobile banking) whether geoblocking has been activated for your holiday destination before you go away. If not, activate it online and then deactivate it when you get back.
It’s also a good idea to turn on push notifications for card payments made abroad. This way, you’ll be notified about the transaction and the amount immediately after using your card. In the worst case, you can block the card and / or order a new one online or in the mobile banking app. Important: If you order a new VISA debit card, it will be sent to the cardholder’s address.
Paying with your VISA debit card is the cheapest and most convenient option. Payments made in shops and restaurants or online are free of charge worldwide. And within Europe, the interbank exchange rate is applied when making purchases in the local currency rather than the card currency. When overseas, always select the local currency as the billing currency, as this is definitely the better option.
Cash withdrawals from foreign ATMs are not free for employees. There is a charge of CHF 5 per withdrawal. Here, too, be sure to charge the amount in the local currency.
Mobile payment methods
Mobile payment methods such as Apple Pay, Google Pay and other e-wallets are becoming increasingly popular. The VISA debit card can already be used with Samsung Pay and should also be supported by Apple Pay from summer 2023. Google Pay users will have to wait until autumn 2023.
Users of both Apple Pay and Google Pay can add the LLB credit card as a payment method.
Credit card
One of the biggest benefits of using a credit card to pay for things abroad is that it is accepted worldwide and you’re guaranteed a replacement card within 48 hours no matter where you are. The primary card is free for employees. However, charges are always converted and billed by the credit card provider in the card currency.
Travel Cash card
Since the introduction of the VISA debit card, many people no longer even need a credit card. But if you still want some emergency funds or a backup in case you lose your VISA debit card, we recommend the Travel Cash card. If the card is lost or stolen, it will be replaced free of charge worldwide, along with any balance left on it. LLB employees can put funds onto the card free of charge. Important: The card cannot be topped up directly in the app. The Travel Cash card is available in CHF, EUR and USD.
We strongly advise using the card’s app, as it offers many additional features, such as the ability to activate specific countries, unlike the VISA debit card, which can only be activated for whole regions. Push notifications can also be enabled.
Overall, the world of travel payment methods is changing. Greater digitalisation and the introduction of innovative technologies are offering travellers and holidaymakers new ways to pay. The best thing you can do to protect yourself is to always check your transactions. It is therefore important that you use the corresponding payment apps (credit card app, Swiss Bankers app, LLB mobile banking app, etc.), so that any unauthorised or incorrect transactions can be detected promptly..
No matter which travel payment method you choose, the most important thing is to enjoy your trip to the fullest and create some unforgettable memories. So, have fun packing and enjoy your well-deserved break – whether you’re using traditional cash, our VISA debit card, or a mobile payment method.