Traveling comes with challenges, and the last thing you want is being unable to use your credit card or withdraw cash from an ATM. If you plan to travel overseas, figure out how you will pay for your expenses. You have a few options, from cash and travel cards to credit cards. One of the most convenient and safest options is to use your debit card.
Benefits Of Using A Debit Card When Traveling Internationally
- Debit cards allow you to access money directly from your bank. If it is a branded VISA®, MasterCard®, or any other major credit card, you can use it at locations worldwide. If you need cash, you can also withdraw money from an ATM.
- Debit cards are secure, and fraud protections are in place. If your debit card is lost or stolen, you can lock it through your account or app.
- You don’t have to carry large sums of cash when traveling.
- Using your debit card to withdraw local currency also helps avoid high currency exchange rates.
If you plan to use your debit card when traveling internationally, it is very important to be careful, especially when handling it. With that in mind, here are some important tips to keep in mind.
Inform Your Card Issuer That You Are Traveling Overseas
Credit unions and banks have many services and protocols in place to prevent fraud. Unexpected transactions in foreign countries can raise a red flag with your card issuer. To protect you from fraud, they can decline the transaction or freeze your debit card. Therefore, make sure to inform your bank or card issuer about where and when you will be traveling so you don’t have any unexpected interruptions to your banking service.
Keep Your Card Stored Safely
Debit cards can be easily stolen if you are not careful about where you keep them. Avoid placing your card in a backpack or purse. Rather, keep it in a pocket inside your jacket, for example, or in any place a thief can’t access easily.
Exchange Your Money
You will need to carry cash in the local currency when traveling to another country. It’s better to exchange currency before you hop on the plane because hotels, airport kiosks, and train stations have extremely high exchange rates. You are likely to get a better rate if you exchange currency at a bank or credit union close to your home.
At the same time, don’t carry too much cash with you, especially when you’re out venturing in an unfamiliar country. You can get cash from an in-network ATM using your debit card to avoid exorbitant exchange rates.
Be Prepared In Case Of Theft
Preparation is key when traveling internationally, and you will want to ensure your finances are protected. Before you fly, look up the international contact number you can use to call your card company if something happens to your card while you are in another country. Keep that contact number, along with a copy of your passport and the cards you took with you on the trip, in a secure place. That way, even if someone steals your purse, you will still have the information you need to report the theft immediately.
Locate Visa ATMs Before You Land In Another Country
Since overseas cash exchanges can incur high rates and fees, using an ATM to withdraw cash is a better option. Use the Visa global ATM locator to find compatible ATMs at your destination. Some banks may charge a fee for using their ATM if you are not a customer. If your checking account offers ATM rebates, the fee would be covered. Otherwise, limit the number of withdrawals you make.
Access ATMs Located Inside Banks
You must use ATMs safely. If you need to withdraw funds, use an ATM inside a bank. These are more secure and can protect against card skimmers. In contrast, independent ATMs on the streets of tourist areas tend to charge hidden fees and offer high exchange rates.
Also, try to use ATMs only during banking hours. This way, if you encounter any issues with the ATM, you can ask someone who works there for help.
Connect Your Debit Card To Your Mobile Wallet
To add a layer of safety, add your debit card to your digital wallet. These typically require you to authenticate transactions with a code, facial recognition, or fingerprint. As a result, card skimmers don’t work on digital cards. When you connect your card to a digital wallet, the wallet uses a tokenized number. Furthermore, sensitive data on the card is usually unreadable and encrypted.
Always Monitor Your Accounts Via Your Banking App
Regularly checking your bank accounts will not only help you stay on top of all transactions but also ensure there is no suspicious activity. If you detect anything suspicious, you can report the fraud immediately and take the necessary actions.
It is also highly important that you avoid using the banking app on public wifi and use only secure networks instead.
Final Thoughts
Traveling to another country is always exciting, but there is so much to take care of when you arrive at your destination. Most importantly, you need to make key financial decisions to ensure your trip goes smoothly.
If you’re in a foreign country and your debit card is not working, don’t panic. First, call your financial institutions to rectify any issue with your card. They will have specialized numbers to use when traveling internationally, so note that information in advance so you can get in touch with the relevant people.
As a last resort, if you have no way to access your money or are stranded overseas, find your country’s Embassy or Consulate. They may help you get money transferred or wired to you by your friends or family at home. In serious circumstances, they may even offer temporary loans.
So when your bags are packed and you’re ready to go, make sure you have everything in place to keep your finances on track and handle any issues with confidence.
