
Domestic or international travel is an important part of the modern business landscape, but despite being common many people still make avoidable mistakes when away from the comfort of home.
According to Mozo.com.au managing director Rohan Gamble, business travellers are paying up to $1.4 billion a year simply for spending their money outside of Oz.
"Our love of overseas travel is creating a lucrative market for the banks and travel money operators, who are slugging Aussie travellers with a confusing array of fees for spending money overseas," he said.
He also said that a major part of the problem was poor communication, which left many people wondering about the exact cost of things.
However, there are ways to avoid paying unnecessary fees and charges that may help to reduce this enormous figure.
For example, do your research and shop around for the best foreign rates before exchanging currency.
Be aware of the fact that there are certain fees associated with most financial interactions and waived commission fees don't necessarily mean that there are no additional costs.
It can be expensive to withdraw money at ATMs overseas, which is why it is important to check with your bank before leaving to make sure you can access financial resources at a competitive rate.
Pre-paid travel cards that can be topped up may be a savvy way to make your money go further, while avoiding running up fees on your credit card or getting a cash advance will also reduce costs.
But this is all advice that will help you get to your destination of choice so that serious networking with foreign investors can take place.
And to shine in this domain it is worth investing in quality eco business cards in order to make a good impression on would-be contacts.