How can you safely handle your money, debit cards, and credit cards abroad while traveling or backpacking?

How can you safely handle your money, debit card, and credit card while traveling?

• Make sure you apply for credit cards while you still have a job: showing your payslip is often required when applying.
• Also check the expiration date of your cards.
• Check that the bank cards you want to use to withdraw cash, have the correct logos!
• Make sure you activate your credit card in your home country. You can activate it online through your bank and for the period you'll be away.
• Make sure the limit on your credit card isn't too high (to prevent loss, fraud, or theft), but high enough to cover expenses such as renting a car or paying for a new plane ticket home.
• Try to keep track of and record all activities you undertake using an ATM as much as possible. Keep your statements, as they may not always work correctly.
• Always count the money you exchange/withdraw at a local bank counter. In many countries and locations, you can also use your credit card for cash withdrawals. This can be a real solution!
• Consider registering your debit and credit cards with a custodian service: your bank or insurance company, so they can be blocked with a single phone call.

How can you safely use your debit card while traveling?

• Try to keep track of all activities you undertake with ATMs and write them down. Keep your statements. They may not always work correctly.
• ATMs are sometimes tampered with in certain countries or regions (South Africa, Russia, etc). Therefore, keep your hand over the keys when you enter your PIN and, if possible, keep an eye on your bank statements while abroad.
• Banks can also block your card if you withdraw money somewhere and fraud is later discovered, meaning you may no longer be able to use your card. Therefore, never travel with just one debit card or only debit cards. You also need to activate your debit card at home for use abroad. You can activate it online through your bank.
• If you're traveling outside Europe, make sure you activate your card's international coverage; most banks now deactivate it by default.

How can you handle your cash safely while traveling?

• Always count the money you exchange/withdraw at a local bank counter and distribute it. Spread it out over your partner, money belt, and wallet, preferably immediately and out of sight.
• If you're exchanging money through street vendors or at exchange offices afterward, it's best to bring a traveling companion along, count with the merchant, and count again!
• Make sure you have a wallet that doesn't contain too much money, but enough for the next day or days. Keep excess money in a moneybelt, travel safe or other well hidden place in your luggage.

Which payment methods and how much cash should you take with you when traveling?

• If you want to play it safe, it's best to have as wide a range of payment options as possible at your disposal. Furthermore, the extent to which you want or need to avoid all risks depends greatly on your destination and your mode of travel.
• See also: Money and costs while traveling and backpacking

Where should you put your money if you need to spend a little more?

• Abroad, you often withdraw large amounts of cash at a time due to transaction or processing fees.
• It's best not to keep your money in one place. Put some "day change" in a small wallet and the rest in a carrying system under your clothes or in a travel safe. For added security, you can hide some "backup" money (e.g., dollars or euros) in a separate location.

Carrying money through customs while traveling?

• When traveling with large amounts of cash, you are usually required to declare it to customs. Failure to do so risks a hefty fine or even the loss of your money.
• In some countries, you must declare how much cash and other foreign currency you have on you upon entry, or you must exchange a minimum amount of money.
• Sometimes you're not allowed to export the local currency, or you must keep track of where and how much you've exchanged each time.

Insuring money while traveling?

• Cash money is often not covered by travel insurance.
• Often, the insurance policies that cover cash are so expensive that they don't outweigh the risk of being robbed. That is, if you're robbed in a way that the insurance company later accepts as covered.