Enjoy peace of mind when you travel and keep your money safe and secure when you’re out of town. For your next trip, keep these tips in mind:
Plan To Keep Your Money Safe While You Travel
Watch Your Cash
I don’t want to take a lot of cash on the trip; it’s hard to keep track of money even when I’m not gawking at attractions. Keep in mind that theft and losses can happen even to the most savvy tourist. Consider keeping your cash and other essentials in a money belt while traveling.
Before leaving on any trip, get the scoop on exchange rates and how to trade in your dollars for local currency. Your local bank should be able to help you, but sites like Yahoo’s Currency Converter or Bloomberg’s Currency Converter can offer detailed information as well. Some hotels abroad can help you exchange your money, but the best rates might be at local banks — a reputable guidebook like might help narrow down your choices.
It’s also wise to read up on tipping customs of the destination you’re visiting. For some types of services, tips are already included in the charges; in contrast, some cultures frown on tipping.
Credit Cards Are Convenient
Take a credit card. After all, it’s convenient and accepted in lots of places, but be careful not to penalize yourself by taking out expensive cash advances. Credit cards are also great for monitoring and tracking down what you spend at those airport gift shops and in restaurants. You can easily look up detailed listings of expenses at your credit card company’s website.
However, it’s best to keep in mind that these benefits may cost more in the long run. For instance, if you travel to another country, you might run into transaction fees. And not every place you visit will be able to accept your credit card, such as the street vendors who sell on a cash-only basis. To contain the transaction fees, scour through the fine print that comes with your card or double check and ask your credit card company to clarify the details on these fees.
As a safety measure, you may want to inform your credit card company that you’re going out of town. Otherwise, they might flag your account for suspicion of fraud. If something dire happens to your card while you’re out of the country, your bank will usually let you call collect.
Debit Cards and ATM Cards
You should be able to use your debit card and ATM card. Prior to leaving home, make sure your cards can be used in compatible networks and be aware of the fees you’ll encounter. For instance, a look at Google Maps tells you where banks are; and a search on ATMs brings up many more listings.
While on the road, you should be vigilant for signs of fraud like card skimmers attached to ATMs and people who snap your card’s picture. Of course, you should always be aware of what’s happening to your card, no matter where you are. In addition, remember that hotels and car rental places like to impose holds on cards that are used for their services. This can lead to problems if you don’t want your money tied up.
Just as it is with your credit card company, it’s a good idea to give your bank some advance notice of your trip or they might flag your accounts for fraud.
Travelers Checks, Anyone?
Travelers checks are still safer than carrying a load of anonymous cash around, and if you run into trouble, they’d be a lot easier to replace than cash. AAA Financial Services offers travelers checks to its members, and you can find American ExpressTravelers Cheques at participating banks, credit unions, and at American Express Travel Services.
Personal Checks Aren’t As Widely Used
Most businesses have stopped taking personal checks, let alone out-of-town checks.If you’re visiting shops and restaurants, or traveling abroad, you’ll have to use other means to pay.
If you follow these guidelines, money worries won’t weigh as much as your baggage the next time you hit the road!
Tags: cash, credit cards, exchange rates, fraud, travel, traveler's checks
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