How to keep your money safe while traveling
Traveling is a great way to immerse yourself in new experiences, see the world, try new foods, meet new people, and just generally unwind from your day-to-day life.
But preparing for an upcoming trip is about more than just deciding which shoes to pack.
With many of our customers planning upcoming vacations and trips for the spring and summer of 2019, Cornerstone Bank sees this as the perfect time to go over a few ways to help keep your money safe and secure while traveling.
While it’s important to keep these tips in mind even when you’re at home, this advice will be especially helpful if you plan on traveling out of the country anytime soon.
Cornerstone Bank is a local bank in Kansas City that helps our customers do more with their money.
Check out our insider tips below from real bankers on how to keep your money safe while traveling.
In the case of your money and personal belongings, a little bit of planning and preparation will go a long way!
How to keep your money safe while traveling
If you’re reading this, that means you’re already researching how to keep your money safe during your upcoming travels.
It also means you’re ahead of many other fellow travelers who never even think to research money-saving tips in advance of their vacations, and end up suffering the consequences.
Here are a few of basics to keep in mind before your next trip to help keep your money safe.
Notify your bank of upcoming travels
Whether you bank with us at Cornerstone Bank or elsewhere, it’s essential that you notify your bank of your upcoming travel dates, destinations, and even locations of any layovers or transit routes.
Banks in the US are overly cautious when it comes to our customers’ money.
If we notice any suspicious activity (such as your credit or debit card being used in a new city or foreign country without notice) this may cause your card to be locked down.
To avoid any hiccups in your trip, and to ensure you have smooth access to your funds, be sure to notify your bank of upcoming travels.
If you’re a customer of Cornerstone Bank, simply give us a call at (913) 353-4130 and we’ll ensure you have full access to your funds.
While you won’t need to notify us of domestic travel, keep in mind that our fraud department may contact you to verify recent charges.
Stash your cash
There are a variety of products on the market made especially with travelers in mind to help keep their money secure.
Money belts, secret pockets, and slash-proof backpacks are just a few of the things travelers consider before an upcoming vacation or excursion.
Many times, this is a great way to keep cash and other personal belongings from getting stolen, or even targeted in the first place.
Leave copies at home
Scan and copy the front and back of each of your credit and debit cards you plan on bringing with you.
Bring one set of these paper copies with you and keep them in a separate, secure place.
Then leave another set with someone at home whom you trust to keep this information safe while you’re gone.
In the event that one of your cards is lost or stolen, having a copy of this information will help you more efficiently restore your access.
Overall, you’ll be surprised by the peace of mind you experience when you have a trusted, designated point of contact back home while you’re away.
Cornerstone Bank recommends the CardValet® app on your smartphone to monitor your spending and receive alerts whenever your debit card is used.
In addition, CardValet® has the capability of turning the card off when not using it, or in the event that it’s lost or stolen.
Prioritize your spending
It may not mean much of a difference to you while traveling—or any other time for that matter.
To Cornerstone Bank, however, there’s a clear priority list of which payment methods to use when traveling abroad.
First, prioritize spending cash when traveling abroad. Cash is the most secure, as it is not connected to any of your personal information.
Additionally, cash will not incur any foreign transaction or processing fees at the point of sale.
Second, use your credit card. Credit cards are safer to use while spending abroad because it’s much easier to turn off in the event that it’s lost or stolen.
It is also not directly tied to your personal bank account.
Finally, use your debit card as a last resort whenever possible. It is much more difficult to pick up the pieces back home if your personal bank account is compromised.
This is tied to automatic payments, your direct deposit from work, and other important but sensitive billing information that is not as easily replaceable as a credit card.
Cornerstone Bank is here to help.
What questions do you have about your upcoming trip?
Contact Cornerstone Bank today and we’d be happy to inform you of more ways to keep your money safe while traveling.