Banking On the Go This Summer Travel Season
As seen on The Rhode Show
Summer is a time to be care free, enjoy the sunshine and travel with family and friends. But travel can be costly, and having issues with your finances can have an opposite effect on that easy living, summertime pace. Here are a few very simple and effective steps you can take to plan ahead and avoid some of the financial stressors of travel.
TAKE ADVANTAGE OF MOBILE & ONLINE BANKING
Mobile and online banking tools make it easier than ever to monitor and manage your accounts from nearly anywhere, including while away on vacation or sitting on the beach. At Washington Trust, our mobile app allows users to track every deposit and payment in real-time and balance their checkbooks on the go.
- Text Alerts: Most mobile banking apps, including Washington Trust’s, include the option to set text alerts and push notifications to alert you of a low balance or large withdrawal to your account. Alerts are a great way to help you monitor your finances on the go, even when it might be the last thing on your mind.
SHOULD I NOTIFY MY BANK BEFORE TRAVELING?
The simple answer is, yes. Nobody wants to be in a situation where your debit or credit card is declined, especially while away on vacation. Most banks and credit card companies have fraud-monitoring systems, and certain scenarios, like using your card in a new location, could be flagged as fraud.
- Set a Travel Notice: If you set a travel notice with your bank or credit card company before you go, they will be aware of your destination and less likely to flag charges as fraudulent.
WHAT IF MY CARD IS LOST OR STOLEN WHILE I AM TRAVELING?
There’s an app for that: Find out if your bank or credit-card company has a mobile app for immediate management of your cards. At Washington Trust we offer the Mobi Money mobile app to manage your debit card, allowing you to easily and instantly turn the card off to avoid fraudulent charges if you are unable to immediately contact the bank to cancel it. The app also allows you to set spending limits on debit card transactions and receive instant purchase and transaction alerts on your mobile device.
WHAT IF I AM TRAVELING ABROAD?
If you’re traveling internationally, take steps to ensure that you can safely access your accounts from outside the United States.
- Using cash abroad: If traveling abroad, you’ll probably want to order foreign currency ahead of time so you are well prepared and can avoid the headache of having to track down a currency exchange.