How to Keep Money Safe While You are Abroad | AU Small Finance Bank
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Tips to Keep Money Safe While You are Abroad | AU Small Finance Bank

Tips To Keep Money Safe While You are Abroad

    A trip abroad is something everyone looks forward to. It’s time for you to create unforgettable memories. Exploring new cuisines, places and cultures can give you a new vision for life and much to cherish. However, you’d prefer to remember your trip for good reasons and wouldn’t want anything to go wrong while abroad. So, how to keep money safe when travelling? The tips listed below will help you stay safe and smart about money when you are travelling abroad.

    Below are some handy tips on money and banking and the best ways to keep money safe while travelling abroad:

     

    1. Plan your forex in advance

    If you are like most travellers, you wait till the last minute and do the money exchange at hotels or airports. Note that the exchange rates at these places are much higher than what you would have paid at your bank. Since you’re travelling abroad, you’d be staying there for a substantial period and spending a considerable amount of money. So, the difference in the exchange rate can be huge. Be smart about your vacation money by planning for foreign exchange in advance.

     

    2. Use Credit Cards, limit cash usage

    Using a Credit Card saves you from unauthorised charges in case someone gets hold of it and is way better than using cash. You can overspend cash and it is far more likely to get lost or stolen in a foreign country. So, in order to feel and be safe, you can use a Credit or Debit Card that does not have a foreign transaction fee and fill it with a balance your next statement can cover. You can always supplement the card with some handy cash.

     

    3. Avoid using secluded ATMs

    Let’s see how to keep money safe while withdrawing money from an ATM in a foreign country. Stay visible. The more visible you are to the public around you, the more protection there is for you and your money. Try to make trips to ATMs during daytime. It is better if you withdraw money from ATMs in your hotel or in a nearby busy area. If you have access to a vehicle, you can always use drive-up ATMs, which are safer. 

    Also, note that ATMs housed inside banks are mostly safer as they are less likely to be tampered with. Remember to withdraw only the money you absolutely need.

     

    4. It’s better to carry an anti-theft bag

    The anti-theft bags are designed for travellers and come with features like steel-cable-reinforced shoulder straps, cut-proof material, locking zippers and slash-proof fabric. You can use anti-theft bags to keep your money, passports and other valuables. They are ideal to keep your valuables safe as they slow down thieves and keep your valuables safe. Remember to keep your bag with you at all times.

     

    6. Photograph your important documents

    As a safety measure, photograph your important documents like debit and credit cards, passports, etc. and email them to yourself. This way, in case they are lost or stolen, you can at least make your payments online with the details of required card numbers. Also make sure that you write down on paper all the important details like your account details and customer service numbers, which can prove to be handy.

     

    7. Password-protect all your devices

    Protect your smartphones, tablets and laptops with strong passwords. This way, in case your devices are stolen, your personal details can stay secure. More importantly, if you use your device for banking requirements, make sure that you practise safe and secure NetBanking. Follow all the measures directed by your bank to eliminate the risk of phishing or hacking.

     

    Key Takeaways:

    • A trip abroad is a time to make fond memories and that’s what you should be doing. 
    • Planning your finances in advance and taking the measures listed above are some of the best ways to keep money safe while travelling to keep your money and banking safe while abroad.

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