Keeping your money safe when traveling abroad

Keeping your money safe when traveling abroad

How to secure peace of mind for you and your wallet while you’re out exploring the world.

26 JULY 2024

4 min read

Traveling opens up a world of breathtaking sights and thrilling adventures but also brings its fair share of financial hurdles. Whether you’re marveling at the Eiffel Tower or navigating the bustling streets of Tokyo, dealing with different currencies and understanding foreign banking systems can add a layer of complexity to any journey. However, with the proper preparation and a few smart habits, you can protect your funds and focus on what matters — making unforgettable memories.

Keep it old-school

Having a wad of local currency on your person might seem a tad old school when jetting off to unknown destinations, but it can come in handy. Relying on plastic is all good until you stumble upon a charming little cafe that only takes cold, hard cash or when trying to haggle over a souvenir at a bustling street market. Moreover, remote locations might not always welcome high-tech tap-to-pay cards, so having a few notes and coins available is essential.So, before you pack your sunscreen, ensure you have a bit of cash to accompany those flip-flops. For an added layer of security, consider keeping your cash in a discreet money belt or even a slash-proof bag; they can be real game-changers for keeping your stash safe while you soak in the sights.

Protect your bank details

When wandering the world, your bank card is your lifeline — so keeping its details under wraps is as crucial as your passport. Let’s start with the basics: your PIN. Memorize it, shield it when you enter it at an ATM or payment terminal, and never write it down. Be careful when accessing your bank account via public WiFi networks; these can be hacker havens. When banking online, ensure you’re using a secure connection — or better yet, stick to your using your mobile phone’s data plan.

Avoid dodgy ATMs

Be wary of ATMs that look like they’ve had a rough night; any signs of tampering could indicate a setup for skimming devices designed to clone your card details. The golden rule? Opt for ATMs that are either inside or immediately adjacent to bank branches. These locations are not only more secure, but they’re also likely to be better maintained and less susceptible to skimming devices.If you’re unsure where to find the nearest bank-operated ATM, a quick search on Google Maps can point you in the right direction. It’s wise to make withdrawals during bank opening hours whenever possible. This way, if you encounter any problems with the machine or your transaction, help is just a few steps away inside the bank.

Secure your belongings

Your travel bag is more than a fashion statement — it’s your mobile safe while on the road. Choosing the right one can mean the difference between a trip filled with carefree selfies or dealing with the hassle of lost items. Opt for a bag that zips up rather than just snaps or buttons for optimal security. For those long stretches on the road or when navigating particularly crowded spaces, consider wearing your backpack in front, embracing a sort of ‘kangaroo style.’ It might not win any fashion awards, but it will keep your belongings from taking a walk without you.

Prepare for the unexpected

Deciding whether to invest in travel insurance can seem like navigating a labyrinth of “what-ifs.” Travel insurance is designed to cover the unexpected, from medical emergencies and trip cancellations to the frustrating experience of lost baggage. Many banks offer a suite of travel insurance perks provided the travel expenses are charged to the card. These benefits might cover everything from canceled flights and hotel accommodations to lost luggage. They might even cover medical expenses not picked up by your standard health insurance, offering a significant safety net as you globetrot. Pick an option that best matches your comfort level to ensure a relaxed holiday experience.

Outsmart pickpockets

Tourists often stand out, and unfortunately, this can make them prime targets for scammers and pickpockets. Blending in as much as possible and keeping a low profile can be useful when traveling. Flashing cash or expensive gadgets around can attract the wrong kind of attention, so keep your money discreetly tucked away and only carry what you need for the day. Pickpockets often operate in crowded tourist destinations and may work in teams to distract you, so always be mindful of your surroundings!Additionally, be careful when giving your passport or credit card to anyone as a form of deposit—scammers often pose as legitimate operators to swipe your details. By staying vigilant and prepared, you can enjoy your travels without falling prey to common tourist traps.

Exploring the world with N26

Whether you’re heading to Bali or Berlin, N26 is the mobile bank account that travels with you. Our N26 You travel account features free foreign payments, ATM withdrawals, and premium partner offers designed with you in mind. As an N26 You or Metal customer, you’re covered by an extensive travel insurance package that includes everything from luggage loss, flight delays, pandemic-related cancellations, and more. Find the right plan for you today.