Protecting Yourself & Your Money Overseas
Amongst the fun and pina coladas, it’s important you look after yourself and your money when going on holiday - after all, you don’t want to waste your hard-earned yen, euro or dollars!
To help make sure you and your money stay safe overseas, we've put together some handy tips and tricks!
Use your money wisely
When heading to a new and exciting vacation destination, being sensible with your foreign currency isn’t always easy. After all, when you’re surrounded by local crafts, endless souvenirs and of course sensational food, resisting temptation can be hard!
Unfortunately, money doesn’t grow on trees - even on holiday! So, when you run out of cash, there’s not a lot you can do.
That’s why it’s important to set a holiday budget for yourself. Putting a specific amount aside each day for things like food/drink, accommodation and travel ensures the important things are taken care of. Once you’ve got a rough estimate for essential spending, you can then see what you have left. This could be used towards extra spending for non-crucial factors like that new handbag or pair of shoes that you really don't need but can't resist!
Keep your money safe whilst travelling
No matter where you go, it’s always important you stay alert and aware of your surroundings and the people around. For example, Barcelona is consistently named the worst city in the world for pickpocketing, but remains an extremely popular holiday destination with millions flocking to the popular Spanish hotspot. Many reports state that thieves operate in busy areas such as bustling train stations or popular tourist attractions. They may squeeze past or pretend to bump into you, and without you knowing, take valuables from your bag or pockets.
Combat this problem wherever you are by only taking what you need out and about. For instance, only take the cash you need for each day and leave what you don’t need in the hotel safe. What you do take with you, place in specialised money wallets that are kept out of sight. Even if you think your backpack or handbag is secure, if you put it down to take a photo or eat, thieves may still have a chance to act.
Don’t forget travel insurance
No one has the power to predict when something will go wrong, even if you are extremely careful. Thankfully, there is a way you can protect yourself in case the unfortunate does occur whilst away - travel insurance! This handy holiday addition may protect travellers from a variety of risks including lost or stolen luggage, cancellation cover, medical expenses and money-related setbacks.
For example, if someone steals your credit card or foreign currency whilst you’re on holiday, you may be able to claim a proportion of this back if your travel insurance policy covers this.
Always check the policy and with your provider to see what your entitlements are and whether you are covered should you need to make a claim for lost or stolen cash or credit cards.
Thankfully, BOQ has some great products that can help you travel better. When signing up to our Platinum Visa Credit Card, not only will you earn great points that can be redeemed for great rewards, you’ll also receive complimentary travel insurance (terms, conditions, limits and exclusions apply), meaning you and your loved ones may be covered while on holidays. If you’d like to find out more about our Platinum Visa Credit Card, why not pop into your local BOQ branch today?
