safe banking while travelling
 

Plenty of articles about travellers getting their CC skimmed or card details being stolen, even from hotel or shop staff.

My thoughts on preventive measures are:
- getting a seperate savings account account with a stringent limit on overdrawing. this will serve as a "travel" savings account.
- getting a separate CC linked to this "travel" savings account.
- transferring funds from the main savings account to the "travel" savings account, as needed.
- using the "travel" CC while overseas. main CC is there only as a backup.

This way, the financial losses from a stolen CC would be contained and minimized.

any thoughts on this setup?

any other tips on safe banking seasoned travellers can share?

TIA

Here in the UK, the best cards for withdrawing cash abroad are often not the best CCs for spending.

In which country is it possible to link a CC to a savings account? Do you mean just an ATM card? I'd rather be spending a bank's money and then paying them back than my own money getting stolen and then the bank trying to claw it back from the thief's bank.

Even if you never travel, it's still a good idea to have multiple bank accounts and cards, so if one gets stolen or a bank's computer systems go down, you aren't completely stuck (like some people here were, when various banks recently experienced glitches)

I personally usually bring cash on my travels anyway and have never had a problem... I'm more worried about not being able to get into my internet banking, since some banks now force me to use a card reader or special device to log on. It's all https so it should be safe from my end, but the banks get paranoid every time I use a foreign IP address.

Both domestically and while traveling: I use a separate checking account w/ATM card (fees rebated) - I keep a "small" balance in the account & transfer funds online as necessary (using a secure VPN connection as well as the bank's HTTPS website).

I've never really thought about this method, but I like the idea! It'll be interesting to follow and see what other methods people mention as well.

This is the setup I have in mind. Good to know it's working for u :)

I do carry a couple of credit cards (now chipped cards) that I use primarily for travel. And some foreign currency that can be exchanged in an emergency (learned that one year when a French telecom strike took down the ATM networks...).

Most importantly, though, is to use machines that are in locations that are less likely to be hacked. Get cash at the airport upon arrival & major bank branches where you go inside an enclosure or door to get to the ATM. Just off the Ginza, one bank has a security guard in the area by the machine... less likely to get hacked there. I avoid, where possible, machines that are in dimly lit, less-traveled areas both for the hacking aspect and the general increased risk of crime.

If you're concerned, use credit rather than debit cards. You have better protection, not only from fraudulent charges but when other travel problems arise, such as an airline ceasing operations.

+1

I've seen some of the devices used to steal your information off ATM machines. They can be really hard to spot.

My preferred method of protection IS to use credit cards. Someone steals my CC number? A quick phone call clears that up, and most companies will overnight a replacement card.