9 ways to protect money and data when traveling

During travel people are the least attentive and most vulnerable. This is especially true of personal items and money.

“Thieves are always on the lookout for unsuspecting tourists and waiting for an opportunity to steal wallets and other personal items such as smartphones and electronic devices,” said Sandra Bernardo, manager at credit reporting agency Experian. A survey commissioned by the ProtectMyID service showed that 39% of respondents became victims of identity theft while traveling.

Fortunately, there are several methods by which you can keep money and data safe while traveling. By taking these precautions, you will enjoy your journey.

1. Tell the bank about your plans to travel.

Banks have a sophisticated fraud monitoring system, the main factor in which are purchases made outside of your usual geographic area of ​​residence. So, if you live in, say, New York and used a debit or credit card during your trip to Florida, the bank may assume that these purchases are fraudulent and freeze your account.

So make sure the bank knows when and where you go. In addition, make sure that the bank has your current mobile number available so that it can contact you if you suspect fraud.

2. Remove all unnecessary from your wallet

Before you go, remove from your wallet all unnecessary, for example, additional credit cards and loyalty cards. If your wallet is stolen, you will need to block the 1 or 2 credit cards that were in it, and not the entire pool of cards.

Don't forget to leave important documents at home, like your Social Security card and more. Losing documents that contain invaluable personal information will leave you highly vulnerable to ID theft and fraud.

If you need to take a passport for a trip abroad, keep it in the hotel’s safe, not in your wallet.

3. Keep a record of important documents.

Make copies of your passport, driver's license and other identity documents before you go on a trip. Leave them at home or give to other family members who do not travel with you.

"If you lose them, it can save you time and money," said Kathleen O'Shaughnessy, CEO of travel planning app TripScope.

You should also create a list of everything in your wallet. Scan your credit and debit cards or write down the account numbers and contact information of financial institutions. Then you will know what was stolen along with your wallet, and you can block accounts.

4. Do not keep cash in one place

If you take cash on a trip, do not store it in one place. Leave the required amount in your wallet and put the rest in the safe at the hotel. Make sure you do not leave money in your luggage.

5. Be careful when withdrawing money from an ATM

If you need to withdraw cash from an ATM, be careful. Use only ATMs that are inside or attached to a bank, as they are being monitored.

If you're traveling abroad, avoid exchanging currency in tourist areas such as airports as you'll pay higher fees. You can pay lower exchange fees by converting your currency at your local bank.

6. Use a credit card

For all transactions while traveling, use a credit card, not a debit card.

"Credit cards are safer to use because they have stronger legal protections than debit cards and they won't charge your account immediately," said Jason Glassberg, co-founder of Casaba Security.

If your debit card is stolen, or thieves received account information when you used your card at a hacked ATM, money can be withdrawn from your bank account immediately. Even if you warn your bank, the refund will take several days or weeks.

“You won’t have access to that money during this time,” Glassberg said.

7. Sign up for fraudulent notice

Your bank and credit company are likely to offer a subscription to a newsletter or text message in which they will notify about fraudulent activities in the account. These messages will help you keep track of your account and identify any unauthorized transactions. Be sure to subscribe to them before you travel.

8. Do not use public WiFi to access your accounts.

It would seem like a smart move to use public Wi-Fi to “surf” the Internet from your phone while traveling, so as not to overpay for exceeding the data limit on your phone. But you're putting your financial and personal information at risk if you sign up via public Wi-Fi.

It's simple, hackers can connect through Wi-Fi connections - even in hotels - and intercept the information you transmit.

“Cellular signals are harder to hack, and therefore require more sophisticated efforts,” Glassberg said. “So you have a more secure way to access the Internet.”

In addition, make sure that your phone is password protected, and financial account applications have complex passwords using a mixture of uppercase and lowercase letters, numbers, and symbols. This will make it more difficult for thieves to access your personal information if the phone is stolen or lost.

9. Do not set a wallet on display

Although it is important to take steps to avoid identity theft, make sure you keep your wallet in a safe place.

Women should keep it in the bottom of their purse, which closes with a clasp or zipper. Men - in the front pocket, not in the back pocket, where it can be easily pulled out.

Take special care in crowded places such as subways and train stations.

Be prepared to meet people who are trying to distract you by asking for directions or pushing you. They can be paired with another thief who snatches a wallet as soon as you get distracted.

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