Know the Tips for Keeping Your Money Safe While Traveling Abroad – Travelling is essential when you have the world at your fingertips and an almost limitless choice of options. Travelling outside of the country might be daunting (and expensive), but it’s worth it to experience a new world.
You, on the other hand, succeeded! You saved money and now have enough to go outside the US. For first-time Flights from Mexico City to Seattle travellers or even seasoned global conquerors, safety and security when travelling are paramount. Protecting your financial assets is as important as protecting your physical safety (travel in groups, be aware of your surroundings).
Don’t allow the thrill of seeing new locations to cloud your judgment if you plan a summer trip.
It emphasizes understanding how to keep your money secure while travelling internationally. While it is always possible for Australians travelling overseas to lose or have their Flights from Mexico City to Chicago travel money stolen, you can take steps to reduce the risk and keep your cash secure.
Notify Your Financial Institution
Notify your bank when you’ll be away and where you’ll be going. It will help you keep track of your accounts and avoid temporary account cancellation.
Install the App
Whether you can’t visit your bank in person, consider if it offers online banking. Banks with mobile applications are even better since you can access your account anywhere using your smartphone. Another option for keeping an eye on account activity is to set up alerts.
Examine Your Credit Card
Find out how much your credit card’s foreign transaction charge is. If you plan to go abroad often, pick a card with low or no foreign transaction fees.
A large sum of money
Depending on your journey time, it may be beneficial to withdraw substantial sums of cash upon arrival. Your bank may convert any remaining funds if you have them when you return.
Have the Telephone Number
In case of an emergency, make a note of your bank’s phone number. Save duplicates of your debit and credit card numbers in case anything is stolen or lost.
Take precautions
There are always scammers and criminals to be on the alert for no matter where you travel. While in densely trafficked areas, store your money in a secure location.
Money-saving advice
- Travel light and bring what you need. Before you go, empty your wallet or pocketbook of any extra cards, so there’s less bulge to attract burglars and less to lose.
- A money belt is an excellent option for keeping your money concealed beneath your garments and out of sight. Keep your valuables out of a ‘bum bag’ or a ‘fanny pack’ since they are common targets for thieves. If you’re carrying a bag, make sure it has a shoulder strap and that you’re wearing it across your chest rather than on one shoulder, with the opening close to your body.
- You may enjoy lunch or take a break from going about, but pickpockets will be on the lookout for you. Keep your luggage near to you and on your person. Keep it on you and place it on your lap if you’re eating out. Never leave it on the back of a chair or the floor next to you when you’re at home.
- Split up your valuables so that your money, cards, and passport are not all in one location, and you still have some resources if one ‘region’ is struck. If you keep all of your money, passports, and credit cards in one money belt, you are in serious trouble.
- Carry just the amount of money you’ll need for the day in your wallet, and stash the remainder in your inner money belt, concealed pocket within your garments, or the safe at your guest’s home or hotel. Even if it entails higher bank costs, it’s often prudent to take out just little sums from the bank — check with your bank before leaving home to see what fees.
- If you need cash, use an ATM inside a bank or hotel rather than on the street, and don’t count the money before walking away. At night, avoid using the ATM. Also, that friendly local isn’t there to “assist” you with the ATM; they’re there to steal your card.
- Also, don’t keep your credit cards, airline tickets, and passport (which you don’t need daily) in the same pocket as the 50 Baht you will spend on a pineapple drink.
- To prevent fraudulent use of your travel money card or credit card, never let it out of sight while paying for anything; shred any carbon sheets from the receipt. Avoid letting others watch you enter your PIN or take cash at an ATM.
Bring cash as well as a pre-paid travel card
Carrying large quantities of money is perilous in any scenario, but it’s riskier while travelling and unfamiliar with your surroundings. You’ll need cash for stopovers, gratuities, and buying at local markets and street vendors, depending on where you go. Your travel card may then be utilized for more significant purchases, restaurant meals, and cash withdrawals if necessary. If you take both cash and a travel money card, the bulk of your travel money will be safe if your card is lost, but you’ll also have some cash on hand if you need it. To learn more about the benefits of using both, see their post on money vs. travel cards.
Multi-Stashing is a valuable skill to have
Have you heard of the term “multi-stashing”? It’s what it sounds like: putting your money in many places. Taking cash and a credit card from the same wallet puts you in a financial bind. Having your trip monies stored and carried in different locations is an excellent strategy to prevent this problem. You should only take a limited quantity of cash on you and leave the remainder in a safe place. Separating your bank cards will also provide a backup if your money and travel card are lost or stolen.
The easiest method to determine how much cash to take out is to ask yourself, “Would losing this amount of money spoil my vacation?”
When it comes to multi-stashing your money, use caution
Multi-stashing is only safe if you have access to a safe place to put your cash, cards, and trip money. Contrary to common assumption, hotel safes are not always closed, and most hotels state they are not liable.
Some of the best places to conceal cash when travelling include under the bed, while others are under curtain hems and TV frames (yes, these are actual recommendations). There will never be “one safe spot” for each hotel, so keep note of where you’ve put it.
When it comes to carrying money, there are many travel bags, pouches, and gadgets to assist you in blending in. Money belts, leg pouches, waterproof swimming bags, and even a Travel Bra with compartments for everything from your passport to cash and cards to a USB device are all available.
