Many of us anxiously await a chance to travel and get away from daily life. From planning the getaway to finding excursions to researching the best hotels, we think we have it all covered. However, one detail that is often overlooked is how to keep money and funds safe.
With these tips in your toolkit, you’re well on your way to making your next retreat as stress-free as can be.
Choose the Right Card
Consider using a credit card as your primary payment method. Most credit cards have zero fraud liability; so long as you report unauthorized transactions right away, you’re not liable for the charges.
If you’d like, pack two cards with different payment networks (Visa, Discover, Citi, etc.) as extra security.
Have Contact Info Handy
If you’ve lost your card or it’s been stolen, it’s important to contact the card issuer as soon as possible. Be sure you know where to find their contact information or store it on your phone ahead of time.
It’s also a good idea to reach out to card issuers ahead of time to share travel plans and avoid having your card unnecessarily flagged.
Keep Some Cash
It’s a good idea to have cash on-hand for instances where cards are not accepted or in case of an emergency. Try to avoid pulling money out in public and don’t draw attention to yourself while doing so.
If traveling abroad, it’s encouraged to have a mix of currency. U.S. dollars can usually be exchanged with ease if needed.
Don’t Put All Your Eggs in One Basket
Having all of your money stored in one spot is risky. Don’t put your wallet containing all your money and cards in your luggage or your purse. Have a little stashed away in different places. In the event one is lost or stolen, you have a backup.
Find the Best ATM
Need cash? Choose your ATM wisely. It’s best to avoid using secluded ATMs, because they might have a card skimmer or shimmer installed. Trade convenience for security and only use ATMs inside financial institutions.
Have a Backup Plan
Do you have digital wallets setup so you can easily make online purchases without a physical card should you need to? Is there a friend or family member you can contact if you’re in a bind? This is especially important if you’re traveling abroad and it’s best to be over-prepared then under.
Thieves can spot wallets and purses from a mile away. Wear pants with zippers or go for the jacket with concealed pockets on the inside; opt for security over style. Limiting the cards and cash that you’re carrying, in conjunction with placing payment methods in an inconspicuous area, can help keep your money safe.
This is something we should all do year-round, but with the multitude of transactions taking place during the holidays, it’s easy for purchases to get lost among the bunch at the beginning of the year. Pay close attention and report unauthorized transactions as soon as possible.
Visit aplusfcu.org/balance to gain access to free resources covering a wide variety of topics, including tips for starting the New Year right and traveling.