Friday, July 20, 2012
Money safe tips for international travelers
Traveling out of the country can be packed with excitement, fun and adventure. Increase your travel enjoyment by taking a few sensible financial precautions. These tips will help keep your money safe and ensure you make the most of your adventure.
Inform your financial institution
It's important to tell someone at your financial institution that you'll be traveling out of the country, so they know it's you making those unusual transactions.
Kelly Klein, a card service specialist at Dupaco Community Credit Union, recommends, "Call us before leaving to give us travel dates, locations and a phone number if available, so we can ensure your credit or debit card doesn't get blocked due to suspicious or fraudulent activity."
Use a mix of U.S. and foreign currency and credit/debit cards
According to Klein, it's best to have more than one payment option available.
"We would recommend not just taking one form of payment. Don't rely solely on one credit card. Have a backup in case the cards are lost or stolen, or the card gets declined for some reason," states Klein.
She also suggests using cash only for incidental expenses. For those major expenses, such as hotel or airfare, use a credit card.
Know what is in your wallet
Make a list of all the contents of your wallet so you know if something is missing or stolen. You may want to write down the information or make a copy of the cards.
Also, be sure to take along your financial institution's phone number in the event any cards are lost or stolen. Klein emphasizes, "Call anytime--day or night--if the cards are lost or stolen. Dupaco's card telephone line is staffed around the clock to block your cards, and reissue new ones as quickly as possible."