A finance expert has shared which travel card she uses to avoid large transaction fees while she’s on holidays overseas.
Queenie Tan, from Sydney, put her Wise travel card to the test comparing its fees to a normal credit card while at a restaurant during her holidays.
The 26-year-old showed how her and a friend both made a transaction of €40 ($58.40 AUD) at the same time with the travel wise card changing a fee seven times lower than the credit card.
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Sydney finance expert Queenie Tan (pictured) put her Wise travel card to the test while overseas and found its foreign transaction fees were seven times lower than normal credit cards
‘Does this travel card really have lower fees than a normal card? I was curious so I tested it,’ the traveller said in a now-viral clip posted to her popular social media channel, Invest with Queenie.
The normal credit card was charged $58.77 AUD plus a transaction fee of $1.76 however Queenie incurred a much lower fee.
‘On my card, I was charged $58.83 including a 26c fee meaning the Wise travel card had seven times lower fees than the normal bank card,’ she said.
Queenie showed how her and a friend both made a transaction of €40 at the same time and the normal credit card was charge $58.77AUD plus a transaction fee of $1.76
‘By the way this video isn’t sponsored but it probably should be,’ she added.
The informative clip has been viewed more than 49,700 times on Instagram and sparked a lively discussion between Queenie’s 78,100 followers.
‘Damn Queenie, I wish I’d known sooner, I’m going to Singapore next week!,’ one wrote to which Queenie suggested getting a digital credit card to use on Apple or Google pay if there’s no time for a card to be posted.
‘I used this for the last three months of full time travel,’ a second agreed while another warned there are some currencies the card doesn’t cover like Fijian Dollars.
‘On my card, I was charged $58.83 including a 26cents fee meaning the Wise travel card had seven times lower fees than the normal bank card,’ she said in an online clip
‘Does Wise offer credit cards? Is credit card better for travelling since they offers insurance on goods and fraud?’ one fan asked.
‘Wise doesn’t offer credit cards so you’re right, by using it it doesn’t have the same fraud protection as using a credit card. I usually book flights, hotels and car rentals (when I have extra insurances) on my credit card!’ Queenie replied.
Other shared their own hacks for avoiding foreign transaction fees including using Revolut, HSBC and ING cards.
‘ING reimburses all fees altogether – even better,’ one user suggested.
’28 degrees, ING and Citibank don’t charge foreign exchange fees. Wonder if they would be better than the travel card,’ a second queried.
While on a round-the-world holiday, Queenie, who is known online for her handy money hacks, is sharing how she’s saving on her travels
‘The only way to know would be trying it in real time like the video. I’ve noticed some places that say ‘no fees’ have fees hidden in the exchange rate so it’s good to test it out!,’ Queenie responded.
While on a round-the-world holiday, Queenie, who is well-known online for her handy money hacks, is sharing how she’s saving money on her travels.
Previously, she revealed the the email template she sends hotels to secure between 15 and 30 per cent off the booking.
Queenie posted a video detailing the script she uses when planning trips away and said she simply asks the hotel manager for a discount in exchange for booking through the venue and not a third party website.
The TikTok clip has since been viewed more than 21,000 times and received a number of positive comments from travellers who confirmed the hack works for them as well.
Previously Queenie detailed the exact email template she sends hotel managers when planning trips away. In the clip she includes where she’s travelling to, the dates…
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