Traveling for business or pleasure can open your eyes to different cultures and exotic landscapes. However, it will be hard to get to and from your destination without any money. Therefore, it is important that you know how to protect it when you travel.
Use Credit Cards Whenever Possible
Credit cards come with a variety of security features, and you are not responsible for fraudulent charges. Cards with the Visa and MasterCard logo are generally accepted almost anywhere in the world. Before your trip, you should use your credit card to get deals and other perks when you book your hotel, flight and car.
Don’t Carry Too Much Cash
If you don’t want to use a credit card, stick to a debit or prepaid card instead of cash. This may make you less of a target to thieves or others who may like the idea of a quick payday at your expense. In addition, you may want to use local currency as it may help you blend in a little more.
Travelers Checks May Offer Additional Security
In the event that you can’t find an ATM or don’t want to carry cash, a travelers check may be useful. They come with several security features to deter fraud, however, you may not get the best exchange rate if you decide to cash it.
Keep Your Computer and Phone Secure
It may be possible for a hacker to find your credit card, bank or other financial information because of poor WiFi network security in your hotel or elsewhere. Never use a public network to transfer money or pay your bills with your phone. If you think that any of your devices have been hacked, alert the authorities immediately and place a freeze on your credit report.
Keep Valuables in a Safe When Traveling
When you are traveling, you should only take what you need to pay for food or other necessities while you are away from your hotel. Otherwise, your belongings including credit cards and cash should be kept in a safe. This decreases the odds that much is taken if you are robbed while sightseeing while also decreasing the odds that anything is taken from your room while you are away.
If you are overseas or otherwise traveling to a new location, make sure that you make financial security a top priority. Limit the amount of cash you carry, use a credit card whenever possible and ensure that you take appropriate countermeasures if your personal information is stolen or compromised.
David Milberg is an investor from NYC.