Traveling for work can be quite exhausting, especially if you are traveling abroad. There is so much you need to do before you travel and then, upon your return, you still have a lot to process as far as expenses go. Your company may ask to see proof of purchases you made, get copies of your receipts and they may even want reasons why you spent what you did. It is a lot of work! Luckily, there is an easy way to track your spending while you travel for work and here is how.
Get a Travel Money Card
While many people may have business credit cards or debit cards, this does not help when it comes to addressing currency exchange. A credit card may be hit with and international service charge with every swipe and the same is true with a debit card. This will cost your employer a significant amount of money! In addition, if you take out cash using a debit card, you will need to pay service fees on top of exchange rates, again, costing money. However, you need to have money while traveling for work and you likely want it to be easily trackable, showing every purchase on an easily accessible transaction history (like a credit card can provide). The best option is to get a travel money card! Your purchase are trackable, there are no excess fees and you can use it just like a debit card.
Set Up Your Card
You can get a travel money card and put money on the card yourself or have your employer load cash to the card instead. Once loaded and registered online, the card is ready to use just as you would use a debit card. You can use it as a credit card, paying for a purchase with a simple swipe or you can use the card to take out cash as needed, getting the local currency without paying fees or exchange rates in the moment. Every purchase and every expense will be tracked on the cards account which can be seen by your employer.
If you are traveling to multiple countries for work, you will likely need more than one currency. With travel money cards, you can load multiple currencies on to one card, making it usable anywhere where you need to travel. Go from one country to the next, keeping track of your spending on one easy to manage account. As you can see, this is clearly a fantastic way to track your business expenses and also save your employer money on currency exchange. You can visit FX Compare to get the best exchange rates online!
Not only are transactions easy to track for both you and your employer, but if you need more cash while abroad, your employer can load more to your card right online, getting you cash immediately. Not only is this easy and convenient but it will once again save your employer money on conversion fees. Exchange rates and service charges for travel money cards are very low and competitive, making them ideal for any kind of travel.