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Keeping your travel money safe

Whether you're an avid globetrotter, or planning your first overseas adventure, here are a few clever ways to prepare yourself and help to keep your travel money safe.

2 minute read

We've all heard the horror stories from friends and family of bad money situations while travelling overseas. While we all hope it will never happen to us, there are a few clever ways to prepare yourself for any situation and help avoid waving goodbye to your hard-earned travel savings. So even if your backpack gets snatched by an opportunistic monkey in Phuket, with these tips, hopefully you won’t be left totally out of pocket.

1. Keep your eggs in different baskets

By diversifying the locations where you store your money and cards, you can significantly reduce the risk associated with keeping them all in one place. Imagine the relief of knowing that a simple mistep won't result in the loss of your wallet and holiday savings, possibly down the Grand Canyon.

Here's a practical strategy: bring a few back-up cards with you, keeping one card in your wallet, another card and your daily cash in a travel money bag, and everything else in your room safe. The more spread out your money is, the more you can relax and enjoy your overseas trip. 

2. Withdraw money carefully

Sometimes during the excitement of a holiday, we may overlook or forget about security when we withdraw money from an ATM (like hiding our pin, or using our body position to shield on-screen bank balances). It's essential to remain vigilant even when enjoying your trip, as tourists can sometimes be more vulnerable. So, let's not completely let our guard down and remember to exercise extra caution when withdrawing money. 

3. Look into common travel scams

When it comes to scams, tourists can be easy targets. Look up the most common scams in the area you’re visiting before you arrive, and prepare yourself on how to spot them. Pricey taxis are a big one, so always try to negotiate a price before the trip starts. Consider keeping your valuables in a money belt, to make life that much harder for pick-pockets, and an oldy but a goodie – always stay aware of your surroundings.

4. If the worst does happen, block your card

If a pick-pocket does end up getting their hands on one of your travel cards, try not to panic. The BNZ app has a feature that lets you instantly block and unblock your cards ¹– so if the worst does happen, you can still keep your travel money safe.

5. Use your mobile wallet

Let’s say your card, your back-up card, your back-up back-up card, and every dime of your cash all falls down the Grand Canyon. If you’re extra prepared, all still might not be lost. Use the BNZ app to add your cards to your mobile wallet ², and you’ll be able to use your phone to make purchases overseas.

And if your phone takes a tumble down the Grand Canyon too (let's just take a moment here to acknowledge what a crazy holiday you're having!), you can look into arranging an emergency credit card and/or cash through your bank and credit card provider.

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