Travelers on Finances
Avoid international fees when withdrawing cash from ATMs. Before traveling abroad, visit your bank and inform them about your upcoming trip. If the bank is not notified of your travel, it may block your card without warning, suspecting identity theft in another country. Since most ATMs outside your country may charge high fees for cash withdrawals, it's better to withdraw all the money in advance. Additionally, by paying with cash, you won’t exceed your budget as you will see how much money you are spending.
Don’t forget your payment cards. The days when you could only pay in cash while traveling are long gone. A debit card allows you to conveniently pay for everyday purchases or dinner at a restaurant, while a credit card can be useful when booking a hotel or renting a car. These services often require a deposit.
Have a backup option. If possible, take two payment cards with you on your trip — so you can still make payments if something unexpected happens to one of the cards.
Find out everything about card payments. Remember that the currency for payments is automatically converted to the currency of the account linked to the card, following the bank's established procedures and rates.
Avoid suspicious ATMs. Withdraw money only from ATMs of well-known banks — in safe, well-lit locations. Before traveling, research a list of reliable ATMs in the country you plan to visit.
Don’t withdraw money too often. Typically, the fee for withdrawing money from ATMs ranges from 1.5% to 2.5% depending on the amount withdrawn, so banking experts advise withdrawing money less frequently but in larger sums.
Also take care of cash. There are still places where you can only pay in cash. Most often, these are campsites, small markets, and little cafes. Therefore, it’s worth ensuring you have cash on hand in a timely manner.
Don’t exchange large sums of money for other currencies. It’s not advisable to exchange large sums of money at once, especially for the currencies of exotic countries that you won’t be able to use on another trip. When exchanging unused money back to euros, you will incur losses.
Don’t keep payment cards with cash. If something unexpected happens, you might end up in a foreign country without both your payment card and cash. To keep your money safe, divide it into several parts and place it in different pockets, in your shoes, or in your bra.
All transactions should be in your presence. Demand that all transactions during which money is deducted from your account occur in your presence.
Check your credit account throughout the trip. If you are using only cash, don’t neglect to periodically check your card statements. The longer you go without checking your account, the more time fraudsters have to disappear after stealing your information or making unauthorized purchases.
Don’t keep money in easily accessible places. Cash makes traveling easier, but it also makes it less safe. Pickpockets are present in all popular tourist spots. The most notorious cities with a high number of street thieves are Barcelona (Spain), Rome (Italy), Prague (Czech Republic), Ho Chi Minh City (Vietnam), Phnom Penh (Cambodia), and Buenos Aires (Argentina).
Wear a fanny pack. Another way to keep money and valuables safe is to store everything (or part of it) in a fanny pack. This accessory was once considered silly and even ridiculous, but today, thanks to designers, fanny packs have become a fashionable trend.
Thieves in hotels and apartments. Surprisingly, many travelers neglect the safe in their room, leave windows open when they go out, and don’t use suitcase locks. Just don’t follow their example.