Spring is finally here and summer is on the horizon. With the warmer months come the opportunities to hit the road or take to the skies. Whether you’re jet-setting across the globe, road-tripping with friends, or soaking up sun at the local beach, you don’t want to bring home a financial headache.

Travel can expose you to a host of financial risks, including stolen credit cards, hacked accounts, shady ATMs, and travel scams. However, with a little awareness and preparation, you can keep your finances secure.

Here are 10 tips for keeping your finances safe while.

1) Notify MSGCU before you go

Before you hop on a plane or cross state lines, let MSGCU know. You can conveniently set travel alerts for your MSGCU cards in the MSGCU Mobile App. Select Card Controls from the menu then Schedule Travel for This Card.

You can also notify us by:

• Calling (866) 674-2848
• Visiting any of our 24 branch locations
• Contacting us online through chat or video banking

Letting us know helps prevent your card from being flagged or frozen for suspicious activity while you’re away from home.

2) Use credit over debit

Credit cards offer stronger fraud protection than debit cards, and they don’t give scammers direct access to your checking account. If your credit card is compromised, you can always dispute the charges, but if your debit card is hacked, the money is gone until your financial institution completes its investigation into the loss funds.

Pro tip: Carry more than one card as you travel in separate places, such as a suitcase or a wallet, just in case one gets lost or compromised.

3) Avoid public Wi-Fi for financial transactions

That free airport or café Wi-Fi may be convenient, but it’s also a hotspot for hackers. Never access checking accounts, make purchases, or enter personal data over unsecured public networks. If you must connect to one, use a VPN (Virtual Private Network) to encrypt your data.

4) Beware of skimming devices

Skimming devices are small tools that criminals attach to ATMs and gas pumps to steal your card info. When using an ATM, stick to machines inside financial institutions or well-lit, secure areas. Wiggle the card reader; if it feels loose or bulky, walk away. It’s also a good idea to ensure the keypad is in a condition that’s similar to the rest of the machine; if it appears to be newer, it may have been tampered with. When using the keypad, make sure to cover it with your hand when entering your PIN. Another great option is using tap-to-pay with your mobile wallet on your smartphone at places such as gas stations.

5) Don’t post travel plans publicly

It might be tempting to share your every move on social media, but announcing that you’re on vacation also tells potential thieves your house is empty, and that you’re distracted. Save the photo uploads for after you get home.

6) Carry a mix of payment methods

It’s best to bring a combination of cash, credit, and debit cards with you on vacation, especially when traveling internationally. Some places may not accept cards, while others may not take cash. Keep a small stash of emergency cash separate from your wallet in case it’s lost or stolen.

Remember: as an MSGCU member, you have access to more than 30,000 free ATMs, and our ATM locator can use your current location to find a convenient option. You can also text your zip code to 91989 to find the nearest participating ATM.

7) Set up transaction alerts

Most financial institutions and credit card companies allow you to set real-time transaction alerts via text or mobile app. This way, you’ll know immediately if there’s any suspicious activity on your account. As a bonus, it’ll also help you keep track of your spending while on vacation. Use the MSGCU Mobile App to set up these alerts.

8) Limit what you carry

Leave unnecessary cards, checkbooks, and documents at home. Carry only what you need: one or two credit cards, photo ID or passport, and insurance info. Keep photocopies or digital backups of these items stored securely, preferably in secure, password-protected cloud storage.

9) Be cautious with currency exchange

Avoid airport kiosks or hotel front desks for currency exchange as they tend to have poor rates and higher fees. Instead, withdraw local currency from a bank-affiliated ATM or exchange money at a reputable financial institution in your destination country.

10) Monitor accounts during and after travel

Don’t let your guard down, even after you return home. Monitor your accounts regularly for any unauthorized transactions. Fraud doesn’t always happen immediately; instead, criminals wait several weeks before using your stolen information.

For more tips on how to stay financially safe while traveling, check out MSGCU’s Security Center, give us a call at (866) 674-2848, video bank or stop by any of our 24 branches to talk with a team member.

Category: Security