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Money Matters

It is essential that volunteers are able to withdraw cash while abroad, especially when travelling. It is also important to consider how you will access your bank account information whilst abroad.

The best method of taking cash out does vary from country to country. We will provide more country specific information on Training.

  • Bank Accounts

    Setting up bank accounts overseas can be extremely difficult and almost impossible in certain countries. It is unlikely that these accounts will be able to receive money directly from overseas.

    Nearly all Volunteers will use their UK bank account whilst overseas. If you are to receive Living Allowance directly from Project Trust this will be transferred into your bank account. In an emergency, Project Trust may need to transfer you money. Therefore, it is essential to set up a bank account at home before you leave. Before departure, you should notify your bank that you will be travelling.

  • Debit/Credit Cards

    Many volunteers take two credit or debit cards with them (Visa/MasterCard are usually best). Having two cards gives you security if one is stolen or blocked. A suggestion would be to take both a MasterCard and Visa card as some destinations may only accept one or the other.

    It is essential to check how much you have to pay per withdrawal and what security measures are in place in case your card is stolen or cloned.
    Some banks will not issue credit cards to those under 18, so it is important to do your research as soon as possible.

    There are a range of new solely online banks which have significantly lower charges for use overseas. One of the most commonly used cards is Monzo. If you’re withdrawing cash overseas, you can withdraw up to £200/month for free, after which you’ll be charged a 3% fee. You can make payments in shops, restaurants and online for free when overseas. Starling Bank is another online bank with similar features.

  • Online Banking and Joint Accounts

    Make sure you have set up online banking for all of your accounts.

    However, there may be times when you don’t have access to a secure internet connection and need access to your account. Banks will only talk to the account holder. Therefore, many Volunteers find it helpful to set up a joint bank account with their Parents/Guardians. Take some time to do your own research into the different methods of allowing someone else access to your account.

  • Cash

    If you take cash with you overseas, make sure it is Bank of England notes as Bank of Scotland or Clydesdale notes are not accepted in many countries. In some countries it may be useful to carry American Dollars. It is unnecessary to try and obtain any local currency before you go overseas. More information will be provided on your Training Course.

  • Travel Money Card

    Volunteers often use Travel Money Cards whilst overseas – you can load a small amount of money onto the card at a time, which protects your savings in a separate account. The Post Office offers a Travel Money Card Plus. Volunteers also regularly use Caxton and Revolut cards. Do your research to see what will suit you best.