By Gretchen Pahia / NewsBreak Pinal County, AZ
(Pinal County, AZ) – Summer travel season is here, and the best pre-trip part is thinking about where to visit and what sights to see. There are, however, some practical tasks that come along with the planning.
One of the most critical things travelers should do ahead of any vacation is to understand how to keep their money safe while on the road.
Lisa K. Davey, Vice-President and Northeast Arizona Retail Division Manager of WaFD Bank, which services residents throughout the state, says there are several things you can do to protect your money while you are enjoying your summer travel plans.
“Our current economic condition has brought more fraudsters than in years past,” says Davey. “Credit card fraud is common, especially if traveling overseas. Foreign transactions bring a higher level of risk, and close monitoring is required.”
Davey adds that if you are traveling, you should have between $100-$200 in cash on hand for each day. It isn’t always better to rely solely on debit cards for purchases. “Debit cards like VISA can offer some advantages such as price protection, purchase security, return protection, and ID theft protection. However, there are downsides as well to using a debit card such as funds being immediately withdrawn from an account, and disputes can delay any funds being returned."
Here are some of Davey’s other key tips for keeping your funds safe while enjoying summer trips
- In case one is lost, stolen, or otherwise compromised, plan to carry at least two credit cards. The cards should be issued by different payment networks, such as Visa or MasterCard
- Notify your credit and debit card providers about your travel plans so they won't decline any significant charges
- Don't assume your bank ATM card can be used at every international destination. Check ahead to find out if your card will work where you're planning to go.
- Photocopy your passport or other ID, the front and back of tickets, and each credit and debit card you plan to carry. Leave copies with someone back home and keep additional copies locked in your hotel room safe
- Always uses ATMs inside banks rather than stand-alone machines, which can be outfitted with a skimmer that can steal your card's information
Davey stresses that keeping your card information secured and continuously checking statements is extremely important when wanting. Historical fraud, ID theft, and scammers are all around right now, and they are just looking for their next victim.
For more money-saving tips, check out WaFD Banks' website.