How To Protect Yourself Financially While Travelling

When travelling, enjoyment should only be the secondary concern; what should take primary consideration is safety. Travelers when visiting new places and experiencing new culture are sometimes distracted with events going around them; thus, they can be subjected to schemes that could physically and financially harm them. Thus, a traveler before going on his next holiday destination should know the various ways and means how to be financially safe when travelling abroad.

The Financial Scams in Travelling

We often hear stories about tourists falling prey to scams. For travelers, being victimized in a foreign place can be a harrowing experience.
One scam defrauding travelers is credit card fraud. This usually happens when travelers use public internet shops or Wi-Fi hotspots. These unsecured channels are effective means for scammers to steal a traveler’s credit card information.

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Another popular scam is tour services. This is a very dangerous scheme. Local’s pose as tourist guides; when a tourist agrees for their services, they bring him to some secluded location and rob him of his belongings – defrauding the foreign tourist of his documents and his money.
This next scam targets foreigners who are having their money change in the local currency of the country they are visiting. In this kind of scam, money exchange shops advertise high exchange rate that will entice the tourist to engage their services. Upon having their foreign currencies changed, the money changer shortchanges the tourist by giving the tourist less money bills, thus, financially defrauding the tourist of his money.

Ways to be Financially Secured When Travelling

Travelers should safeguard their finances especially when looking to do some international traveling. Here are some helpful tips and ways on how to safeguard finances while travelling abroad.

Complete All Travel Details Before Leaving the Country

It is still highly recommended that a traveler complete all his booking transactions before leaving for an intended holiday. This way, a traveler won’t have to be compelled to enter into financial transactions while in the midst of a holiday. Completing all the transactions in the safety of one’s own home or through secured transactions of travel agencies will assure the traveler that he will be dealing with a legitimate entity.

Get insured

Insurance is a contract of indemnity. It can cover risks like theft or accident. Thus, when a traveler is looking for an international holiday, it is recommended that he gets a travel insurance that would cover potential risks that he might experience during his travels. This way, the traveler won’t have to worry about the value of the money he lost.

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Transact only with legitimate entities

A traveler should always have his foreign currencies changed by banks and not money changers. This way, a traveler will always be assured of the amount of money and the number of bills he is receiving.

Access your money in your savings account

Withdrawing money from your saving account is one way to ensure that the amount you are withdrawing is exactly just the amount you need. If you access your money in your savings account while travelling, you’ll do away with the hassle of bringing in money and having to declare them during airport inspection. It just needs a little planning and awareness on your part to make the most out of your holiday and remain safe.



  1. Travelex India

    Well matter of fact, money exchange at banks, airports etc can have sky rocketing fees over every exchange. But there are certain reputed money exchangers like Travelex that do give you the same reliability and and also better exchange rates. In fact they have a 0% commission policy on online money reserve.

  2. Scott Asaph

    If you think to travel for a long time in other countries then you have to take care of your financial transactions like credit card which is the most powerful thing which you have to protect from scams.

  3. Marielle Green

    For long term travel, I wouldn’t advise booking everything in advance since it would compromise flexibility. But try to book through reputable sites, especially if you can use PayPal, or follow recommendations from fellow travelers.
    Marielle Green recently posted…Eighth WonderMy Profile

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