Whether your summer travel plans take you across the globe or across state lines, we want to remind you to plan carefully in order to keep your money safe and vacations risk-free.
Most financial experts advise limiting the use of cash and paying with a debit or credit card for major purchases. That’s because credit and debit cards come with additional protections, like fraud protection, which can offer greater peace of mind while traveling somewhere unfamiliar. Vacations are better when they go as planned, so minimize your risk for theft, or misunderstandings while away, by following these tips:
- Share your travel plans with your bank to avoid account holds or transaction rejections when out-of-the-ordinary transactions are presented for processing or posted. This is the most simple way to prevent any unexpected and embarrassing card rejections while purchasing things away from home.
- Foreign Exchange Services are offered to help you get the foreign currency you need before you travel. Just give your bank some time to order it and you will have your cash before even leaving.
- Request a chip-enabled card particularly if your travel plans take you overseas where chip-enabled technology is quickly becoming a card acceptance requirement.
- Carry at least two cards with you so you have a backup. Families or couples may get even greater backup coverage if each person takes a different card.
- Set up transaction alerts for credit and debit cards. If you suspect your information has been compromised contact your bank and credit card provider as soon as possible.
- Know your emergency phone numbers, but remember, 800-numbers can only be used in the United States and Canada. Be sure to get a number for your bank that you can call if you are out of the country.
- Inquire whether your credit card provides travel accident insurance and traveler’s assistance. Ask your community bank what special services are provided.
- Know the limits on how much you can withdraw and always save your receipts, even on transactions that seem ordinary.
- Download our mobile app to have access to your account information while gone. If you lose your card or have it stolen, most apps similar to LSB’s, will allow you to turn off your debit card from your phone.
- Thoroughly check any ATMs that you use. Ensure the card reader does not look like it has been tampered with. When in doubt choose another terminal.
- Lock away valuables such as passports, backup credit cards, copies of financial information and extra cash in your hotel safe.
- Use social media with care. Posting your pictures or whereabouts during travel could leave you susceptible to home invaders, that now know the details of your time away.
- Don’t wait for your monthly statement. Upon returning from your vacation, review your purchases and ATM withdrawals with your bank and credit card companies.
Letting your bank know about your travel plans will help you if something goes wrong or prevent a misunderstanding. Remember, in the event that something unfortunate does occur, reach out to your bank, where they stand ready to lend a helping hand. For more information about what to do in the event of a lost or stolen card, visit your local branch or contact us today.
Lincoln Savings Bank, Member FDIC