Payment methods

Payment methods in the Tucson Gem Show

The Tucson Gem Show is known for being a largely cash-based event. Here’s a breakdown of what payment methods you can expect:

  • Cash: This is the most widely accepted method and is often preferred by vendors, especially for negotiations where you might get a better deal.
  • Credit/Debit Cards: Many vendors are starting to adopt credit card readers through services like Square. However, it’s not guaranteed that every vendor will have this option, so be prepared with cash as well.
  • Checks: Some vendors may accept checks, but they might require ID verification. This method is less common than cash or credit card.
  • Online Payment Systems: Recently, many vendors and buyers are using online payment system such as, PayPal, Stripe, and Wise in the Tucson Gem Show.

Here are some tips for attending the Tucson Gem Show regarding payment methods:

  • Bring plenty of cash.
  • Open your online payment system accounts, especially PayPal and Wise.
  • Have a backup method like a credit card or check in case a vendor accepts it.
  • Consider carrying two credit cards in case one gets declined or malfunctions.
  • Be prepared for ATMs to have long lines, so plan on having enough cash on hand throughout the day.
We highly recommend that all vendors and buyers create accounts on PayPal and Wise before the show.
Payment methods

Credit cards or Wise?

Credit cards and Wise are actually quite different financial tools, so there’s no single “better” option. It depends on what you’re using it for:

Credit cards are a better choice for:

  • Earning rewards: Many cards offer cash back, travel points, or other perks for using your card.
  • Building credit: Responsible credit card use can improve your credit score, which can benefit you in the future (like lower loan rates).
  • Large purchases: You can spread out the cost of a large purchase over time, but be mindful of interest charges.

Wise debit card is a good fit for:

  • International transactions: Wise offers competitive exchange rates and avoids foreign transaction fees that credit cards often have.
  • Budgeting: Since you load money onto the card beforehand, you can’t overspend and incur debt.
  • Building credit history: Not applicable, Wise doesn’t affect your credit score.

Here’s a table summarizing the key differences:

FeatureWise Debit CardCredit Card
Type of cardDebit cardCredit card
Source of fundsPre-loaded balanceBorrowing limit
Foreign transaction feesNoOften apply
Exchange ratesMid-market rate
May have markups
Interest chargesNo
Yes, on unpaid balances
Rewards programsNoCommon
Building creditNoYes

In short:

  • Use Wise for international spending or budgeting to avoid extra fees and debt.
  • Use credit cards for rewards, building credit, or managing larger purchases, but be responsible to avoid high-interest charges.

Consider using both! A Wise card can be a great companion to your credit card for managing international spending without racking up extra fees.

Is Wise Right for You? A Look at the Money Transfer Service

Wise (formerly TransferWise) has become a popular option for international money transfers. But with many services available, is Wise the right choice for you? This article explores the pros and cons of Wise to help you decide.

Advantages of Wise:

  • Competitive exchange rates: Wise prides itself on offering transparent mid-market rates with a small, upfront fee. This can save you money compared to banks or traditional money transfer services that often have hidden fees in their exchange rates.
  • Low transfer fees: While there are fees associated with Wise transfers, they are generally lower than what banks or other services charge.
  • Speed: Transfers can be completed quickly, often within one to two business days.
  • Security: Wise uses bank-level security measures to protect your money and personal information.
  • Convenience: Wise allows you to initiate and track transfers online or through their mobile app. They also offer various payment methods to fund your transfer.

Disadvantages of Wise:

  • Transfer limits: Wise may have limitations on the amount of money you can transfer depending on the currencies involved and your verification status.
  • Not ideal for small transfers: The fixed fee structure can make Wise less economical for very small transfers.
  • Limited cash pickup options: Wise primarily focuses on bank transfers. While some cash pickup options may be available depending on the destination country, they may be limited.

Who should consider Wise?

Wise is a good option for:

  • Individuals or businesses who frequently make international transfers.
  • People who need to send large amounts of money overseas.
  • Anyone looking for a transparent and cost-effective way to transfer money internationally.

Before using Wise:

  • Compare rates and fees: It’s always wise (pun intended) to compare rates and fees offered by different money transfer services before you commit.
  • Check transfer limits: Ensure the service offers the transfer limits you need.
  • Consider your needs: Think about how quickly you need the transfer completed and whether cash pickup is important to you.

By understanding the advantages and disadvantages of Wise, you can make an informed decision about whether it’s the right money transfer service for your needs.

Payment methods