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Whether you’re heading out of town for business or pleasure, protecting your funds along the way can make the trip hassle-free. The process starts well before your journey begins. Here are several banking tips to keep in mind for guarding your cash against modern thieves and other unwanted culprits.

4 Ways to Protect Your Banking Activities While Traveling

1. Avoid Public Wi-Fi Channels

It may be convenient to use the airport or hotel’s free Wi-Fi, but you could be putting your funds at risk. Avoid logging into your bank’s checking account or making online purchases using these internet channels. Cyber thieves may be lying in wait to drain your accounts. If possible, talk directly to a customer service representative or use the automated phone system for banking transactions. 

2. Give Your Bank a Heads-Up

Let your bank know when you’ll be traveling, especially to another country. Eagle-eye fraud detection staff will be able to identify unusual activity in areas away from your home base.

The best banks will call you to inquire about large or back-to-back debit or credit card transactions. They also have the ability to immediately shut down access to your banking accounts to help prevent thieves from going on shopping sprees. 

3. Carry Some Cash

bankingAs a backup, plan on carrying some cash on you when traveling. It helps in case there are issues with ATMs in another country or an unexpected scenario that might prevent you from using your debit or credit card.

Have at least $100 in U.S. dollars on you in various denominations, and keep the cash in a secure spot that would be hard for pickpockets to swipe. 

4. Know the Local Exchange Rate

Find out what the exchange rate is in international countries so that you’ll be financially prepared. It’s wise to exchange your money in the country of destination instead of the United States. Check out banks and post offices in the area for the least expensive exchange rates. 

 

Putnam 1st Mercantile Bank is your trusted financial institution wherever your travels take you. Based in Cookeville, TN, the community bank offers a range of accounts with the latest security features to keep your funds protected no matter where you are. From online banking to bill payment, access is easy, convenient, and secure. To learn more about the bank’s products and services, visit the website or call (931) 528-6372 to speak to a friendly representative. 

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