GUEST POST OVERVIEW: Gone are the days when I would carry traveler’s checks to the far corners of the world. Today, I just pop my card into an ATM and voila… local currency at the best available rate. That said, the security of my money always is of paramount importance, which is why I’m so excited about this article my friend Travis sent me.

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Traveling abroad can be one of the most exciting experiences of your life.

However, exploring the world does involve certain risks. One of the most common problems that travelers and expats experience is security issues with their bank accounts. There are many security concerns that arise while you’re traveling abroad. Regardless of where you travel, your bank account health always matters just as much as your passport and plane ticket.

 

An assortment of Thai Baht bills and change
An assortment of Thai Baht bills and change

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Why Worry About Bank Security?

Your passport allows you to enter a country, your plane ticket allows you to get there – and your bank account allows you to thrive while you’re visiting. Even if you are traveling primarily with cash, bringing your debit card is essential. You never know what emergencies you will encounter, and having access to your accounts may just save the day.

If the security of these accounts is compromised, you run the risk of being stranded abroad. Additionally, your savings and checking accounts become vulnerable, leaving your money up for grabs. Not only will this affect your travels, but it will impact your entire life.

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Simple Practices to Ensure Bank Account Safety

Below are some simple and effective strategies to ensure the safety of your bank account while traveling abroad:

An ATM in Bhagsu, McLeod Ganj, India
An ATM in Bhagsu, McLeod Ganj, India

  • Have Multiple Accounts. Don’t rely on a single account. Have a checking account and make sure you still have savings available for back up while you’re traveling. Even if you already have a primary bank account, consider opening another one.
  • Spread Out Your Information. You are likely traveling with multiple bags. If you have multiple debit cards and other financial information, spread them out between your bags. This way, if one of your bags is lost or stolen, you’ll still have some type of access to your bank account.
  • Connect Securely. While physical security is the most common concern, online security can also be problematic. Connecting to the wrong Wi-Fi connection can leave all of your transmitted data in the wrong hands. You can prevent this by considering a VPN provider, or using your best discretion when connecting to public Wi-Fi.

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Guarantee Security to Provide Peace of Mind

It is extremely important that your bank account information is not at risk while you’re traveling. Losing access to your bank account can be devastating. However, knowing that your financial information is secure will provide you with a tremendous sense of relief. Open multiple bank accounts, keep your information spread between bags and only connect to secure connections.

 

Indian Rupees were worth roughly 50:1 in 2009. . .

How do you keep your bank account safe while traveling?