FDIC Consumer News
Travel Tips: Bon Voyage – Safe travels with your money
May 16, 2024
Traveling soon? As you prepare for your trip, it’s crucial to safeguard your finances and avoid potential money-related issues while you’re away. Here are some essential tips to help you enjoy a safe, worry-free journey:
- Determine your cash and credit needs: Avoid carrying large sums of cash, which can be difficult to replace if lost or stolen. Instead, use credit cards whenever possible, as they offer added security and can be easily replaced if needed. Be sure to inquire about any fees associated with using your cards abroad to avoid surprises.
- Secure your valuables: Consider storing valuable items such as jewelry in a safe deposit box at your financial institution before leaving for your trip. Make copies of important documents such as your passport and driver’s license, and carry them separately from the originals.
- Understand credit card blocking: When renting a car or checking into a hotel, your credit card may be subject to blocking to cover potential expenses. Familiarize yourself with this process to avoid unexpected holds on your credit line.
- Pay bills in advance: Ensure that essential bills are paid before you leave to avoid service interruptions while you’re away. Consider setting up auto-pay for added convenience.
- Protect yourself from theft and scams: Keep a low profile by avoiding flaunting cash or expensive items, and be cautious of pickpockets and scams targeting travelers. Notify your credit card companies of your travel plans to prevent any issues with card usage.
- Know where to turn for help: In case of emergencies, banks and financial institutions can assist with cash advances, wire transfers, and other financial services. Be sure to report any lost or stolen cards immediately to minimize potential losses.
By following these tips, you can ensure a smooth and enjoyable travel experience while keeping your finances secure. For more detailed information and additional travel tips, read the full article here: https://www.fdic.gov/resources/consumers/consumer-news/2024-04.html