Traveling this Summer?

Traveling this Summer?

June 24, 2022
Source: Independent Community Bankers of America

As you take off for the summer, remember that advanced planning can take the financial sting out of unwanted surprises during travel to maximize your enjoyment regardless of how long or how far you venture.

Planning for the unexpected—including trip delays, lost or damaged merchandise, and last-minute expenditures can offer greater peace of mind while traveling and lessen the financial impact upon your return. Should your best-laid plans go awry, and you get into a financial situation while away, call on Bank of the Valley and our expert staff who are willing and able to lend a helping hand.

ICBA and Bank of the Valley urge consumers to consider these 12 tips before they depart on their next trip:

1. Monitor charge activity. Review purchases and ATM withdrawals with your bank and credit card


2. Inform your community bank of your travel plans to avoid account holds or transaction rejections when unusual transactions are presented for processing.

3. Ensure you have a chip-enabled card or contactless card, particularly if your travel plans take you overseas where chip technology may be a prerequisite for card acceptance.

4. Carry multiple cards as a backup. Families or couples may get even greater backup coverage if each person takes a different card.

5. Create transaction alerts for credit and debit cards. If you suspect your information has been compromised, contact your bank and credit card provider as soon as possible. For information about what to do in the event of a lost or stolen card, visit the Visa and Mastercard websites.

6. Bring a list of emergency phone numbers, including bank contact information when out of the country.

7. Inquire about special card features like travel accident insurance and traveler’s assistance.

8. Know the limits on how much you can withdraw and save your receipts.

9. Choose an ATM or bank for your currency purchases for fewer fees and an exact conversion rate.

10. Thoroughly check any ATMs that you use. Examine the card reader for signs of tampering. When in doubt, choose another terminal.

11. Lock away valuables such as passports, backup credit cards, financial information, and extra cash.

12. Use social media with care. Posting your pictures or whereabouts during travel could leave you susceptible to home invaders.