Now that the summer is already in full swing and we Belgians are flocking to sunny destinations, we thought it would be the right time to give you good advice on the use of your credit card during the holidays. It is of course nice to make as little costs as possible when you go on vacation. We have sorted out a few things for you. It turns out that you can indeed save a lot of money in view of the transaction costs of your credit card. It also makes a lot of difference whether you travel outside the euro zone in the EU on vacation. And what about the costs of a credit card versus the bank card in other countries? Are you cheaper if you pay with a bank card or a credit card?
Payments you make in the European Union are free of charge
The European Union is also bringing good things. For example, all payments you make within the euro zone are free of charge. It does not matter if you pay with a credit card or with a bank card. Also with pin payments (at an ATM) abroad there are usually no extra costs charged. So you can withdraw money with a bank card for free. Nevertheless, there are a few banks that do ask a small fee per withdrawal. For example, at KBC you pay 20 cents per withdrawal and at Record Bank you pay 70 cents. At BNP Paribas Fortis you only pay a meager 10 cents per withdrawal. You can save money by simply pinning a larger amount in one go. Please note: withdrawing money with a credit card always costs money.
Credit cards for small amounts
Do you usually make small payments abroad with your credit card? Then you can save on costs by choosing a card with a low or minimum amount. Providers such as Nagelmackers, Keytrade Bank provide this type of credit cards.
Credit cards for larger amounts
Do you often include larger sums of money during your holidays or journeys? Then it is wise to opt for a credit card with which you make proportionally much lower expenses. Then choose credit card companies such as: Crelan, KBC, Keytrade Bank, Record Bank or finally the VDK Spaarbank.
Currency outside the euro zone
What is certain is that with payments outside the EU you always have to use a credit card if you want to save on costs! With a bank card transaction costs are much higher. It is also necessary to have a credit card with you outside the EU. Because in some countries your regular bank card is not accepted. However, do you want to withdraw money outside the euro zone? Then an ordinary bank card (if it is accepted) turns out to be much cheaper.