Have a Safe, Stress-Free Vacation
June 23rd, 2011
Protecting your finances while you’re away:
The arrival of summer weather could not have come sooner, and we’re all counting down the days to our next vacation. Whether it’s a series of day-trips or a week-long excursion, you need to be mindful of keeping your finances safe before having fun.
With identity theft more common than ever, it is important to protect yourself, especially when traveling. Before leaving, take copies, back and front, of any credit or debit cards that are in your wallet. Store the copies in a safe place away from your wallet. If you lose your wallet or purse, you will have access to all the cards and card numbers so that you can easily cancel them. If not on the cards themselves, make sure you have all the toll-free phone numbers to cancel each card.
Another rule of thumb is to never keep your PIN number with your debit or credit cards. Ideally, your PIN number should not be written anywhere, but if it must be, store it in a separate place so if you lose it, or the card, they are not together.
Be proactive should you lose any of your information. Contact the financial institution or credit card companies immediately once you realize your cards are lost or stolen. This shows the companies that you are responsible, and alerts them to any potential fraud, which is difficult to detect when you are traveling. If you lose your MSB ATM or debit card, you can always call 508-481-8300 to cancel your card at any time, during or after business hours.
You should always have a back-up source of funds, especially when you are away from your local bank. Storing cash in a safe area, somewhere in your luggage or on your person, is one alternative. Unfortunately, traveler’s checks are not as widely accepted as they once were, especially when used out of the country, but they are alternative to cash in some cases. You can also purchase gift cards issued by a credit card company with a pre-set amount loaded onto them. MSB offers MasterCard gift cards that, for a small fee, can be activated with any amount up to $1,000. These cards come with their own number, without any name printed on them, but can be used anywhere MasterCard is accepted. As long as these are stored in a safe place away from your wallet or purse, they are a good replacement for funds.
Finally, when traveling, you should bring as little as necessary with you. If you have five credit cards, travel with only one or two at most. Have a designated credit card for vacation usage so that you can easily cancel it if lost or stolen. If you have multiple ATM or debit cards, keep only one with you as needed. Don’t keep more cash than you can absolutely afford to lose in your wallet or purse. Following these tips will keep you prepared and give you peace of mind while you are on vacation. If you need to reach us while you’re away, call 508-481-8300 and ask for your branch. And after all that, for a truly safe summer, put on your sunscreen and enjoy the sun!
