5 Tips to Keep Your Travel Money Safe

by - 2:33:00 AM

Most people who travel know how to find the best deals on airfare and hotel rooms. When it comes to knowing how to keep their money safe and access it while traveling, most travelers have a lot to learn. There is not one single best way to travel around with money and make sure that it is always accessible, but there are some things you can do to protect your money as much as you can.

Products for Travel Security

You want to be 100 percent positive that you can have access to money while traveling. To do this, you should always keep travelers cheques, cash and your ATM cards secure with a security product. Some of these products are money belts, security cable locks and combination padlocks. Make sure you plan and purchase these products long before you travel.

Securing Cash

You want to have easy access to your cash when traveling, but it is not wise to carry large amounts of cash in your pocket. It is also not wise to have the majority of your travel money be cash. If you got mugged or if your luggage is stolen, your holiday plans are ruined. Have your cash dispersed around in different places when traveling. Some should be in your wallet and some should be in your traveling money belt. Keep some spare cash in your backpack or luggage. This way, if your money is stolen, you still have cash to tide you over. If you are traveling overseas, you should have a supply of their local currency. This will allow you to pay for transportation to your accommodation as well as buying food to eat. If you are in a third world country, pay for your items in local currency. This will keep you from being ripped off.

Credit Cards

Credit cards should be the back-up plan for accessing money when you travel. You do not want to use your credit card for purchasing items, because you can be charged large transaction fees if you are in another country. If you lose your credit cards or if they are stolen, someone could use your details to steal all your money and bring your vacation to a halt. Always carry detailed information on all of your credit cards when you travel so that you can contact the credit card holder if something happens. Your credit card can be used for booking flights, online tours or hotel accommodations. It is usually safe to use a credit card at well-established businesses and restaurants. An alternative is using travel money card such as those offered by Travel Money Oz. Travel money card works exactly like a credit card but you just have to pay upfront. It can save you heaps on the large transaction fees typically associated with using credit card overseas.

Travelers Cheques

The good thing about traveling with traveler’s cheques is that if they are lost or stolen, you can contact the issuing agency with your cheque numbers to have them replaced.

ATMs

ATM machines can be found anywhere and everywhere you travel. They are the easiest way to access your money when you are away from home. If you travel overseas, make sure your card is authorized for overseas use. It is a good idea to travel with a spare ATM card in case one is lost. Keep in mind that if you are overseas, you could be charged a conversion fee and transaction fee.

Always travel with a variety of options for accessing your money.

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