Keeping Your Money Safe While Travelling
It’s not uncommon for travelers to have their money or wallets stolen while on vacation—a misfortune I’ve experienced firsthand as a young backpacker in France. To avoid falling prey to financial fraud during your travels, it’s wise to invest some time in safeguarding your finances before departure, just as you would in planning the trip itself.
To safeguard your credit cards, debit cards, and cash while traveling, consider the following measures:
Opt for contactless payment methods if available. Use your phone or smartwatch with Apple Pay or Google Pay. By using digital wallets, your physical cards remain secure and safely out of sight.
Use the contactless tap feature if you must use a physical card. Every time you pull out your physical wallet and enter your PIN, you risk having your card stolen or exposing your PIN to onlookers.
Protect your PIN on larger purchases. For larger transactions, you may be required to insert your card and enter your PIN. Ensure no one is watching you enter your code, and avoid handing your card over to merchants. If a merchant must handle your card, always verify that you get the correct card back.
Enable real-time transaction alerts on your banking apps. With these alerts enabled, you’ll receive an instant notification on your mobile phone the moment your card is charged, showing the merchant's name and the amount spent. Whether you’re dining out, buying souvenirs, or booking excursions, you'll get immediate peace of mind. Should your card ever be compromised, you’ll know instantly and can promptly inform your bank.
Carry more than one type of card. Bring backup cards from different card networks in case one is lost, stolen, or facing network disruptions. Network outages do happen, and depending on which network your bank relies on, you could be left without payment options. Furthermore, as humans, we naturally lose or forget things from time to time, so having a backup card stored securely elsewhere is essential.
Use a dedicated travel card like Wise. Instead of using a debit card linked directly to your main bank account, consider using a multi-currency prepaid card such as Wise. Cards like Wise allow you to convert and hold different currencies at low fees and real exchange rates. By transferring only the money you plan to spend on your trip onto the card, you create a natural built-in safeguard. If your travel card is ever lost, stolen, or compromised, your primary bank accounts and main savings remain completely isolated and secure. Click here to apply for Wise Card.
Photograph your credit and debit cards, front and back. The back of your card contains vital international customer service phone numbers, so make sure you photograph both sides. Consider storing these images securely in the ‘Files’ application on your mobile device for quick access. This is also a great place to store photos of your driver’s license and passport.
Don't rely solely on your bank to flag fraud. It’s not advisable to depend entirely on your financial institution to spot unusual activity. Regularly review your transaction history through your banking app. If you identify any unrecognized charges, report them immediately.
Familiarize yourself with your bank’s mobile security features. Most institutions implement robust safeguards and give you direct control over your account's security. For example, many banking apps allow you to instantly "freeze" or deactivate your card with a quick toggle, bypassing the need to call customer support. Instantly freezing a lost card drastically reduces the chance of unauthorized purchases.
Divide your cash. Avoid keeping all your money in one place. If you're traveling with a partner, split your cash between the two of you so you aren't left stranded if one wallet gets lost or stolen.
Set travel notifications with your bank. Even as fraud-detection algorithms get smarter, some banks will still freeze cards if they suddenly detect charges in a foreign country. To avoid the frustration of an unexpected card decline at a checkout counter, take a minute to log a travel notice in your banking app before you head to the airport.
Invest in an RFID-blocking wallet or sleeve. While physical theft is far more common, digital "skimming" can happen in dense tourist crowds or on public transit. RFID-blocking wallets or card sleeves add an invisible shield, stopping unauthorized scanners from reading your cards or passport chip through your pocket or bag.
Keep an offline list of emergency numbers. Relying entirely on your phone for emergency contacts can backfire if your phone and wallet are stolen together. Write down international support numbers for your banks, travel insurance provider, and local embassy on a slip of paper, and tuck it safely in your luggage.
There are also a few crucial steps you should take from a cybersecurity perspective when accessing your accounts online:
Safeguard your accounts with strong, unique passwords. Avoid reusing passwords across different sites. Using a reputable password manager is a great way to create and securely store strong passwords.
Enable two-factor authentication (2FA). Opt for an authenticator app rather than text messaging whenever possible. If you use a local travel SIM card while abroad, you may not receive text messages sent to your primary phone number, making SMS-based 2FA unreliable.
Use official banking apps instead of web browsers. When using your mobile device, log in through your bank’s official mobile app rather than a web browser, and ensure the app is updated to the latest version before you leave.
Avoid public Wi-Fi for sensitive tasks. Never log into your bank or enter sensitive financial information over unsecured public Wi-Fi networks. It’s best to rely on a mobile data plan paired with a trusted Virtual Private Network (VPN) service.
Keep your valuables secured and out of reach. Carry your wallet and cash in a cross-body pouch positioned in front of you, or in a money belt worn discreetly beneath your clothing.
Keep your phone off restaurant and cafe tables. Avoid leaving your mobile phone sitting out on the table while dining, especially at sidewalk cafes or near busy walkways. A common tactic among opportunistic thieves is to place a map, petition, or trinket over your phone to distract you, snatching the device underneath it as they walk away before you even realize it’s gone. Keep your phone in a zipped pocket or secure bag whenever you aren't actively using it.
Enable biometric login on your phone and apps. Set up Face ID or fingerprint recognition for both your mobile device and your individual banking apps. Should your phone be snatched while unlocked, biometrics act as a critical secondary barrier, keeping thieves out of your financial accounts.
Enable remote device wiping. Ensure features like Find My iPhone or Find My Device (Android) are active before you head out. If your phone is lost or stolen, you can remotely lock or wipe it entirely, protecting your stored password manager, digital wallets, and document scans from prying eyes.
Avoid public USB charging ports. Steer clear of free USB charging kiosks at airports or train stations, as compromised ports can potentially transfer malware or access data on your device ("juice jacking"). Instead, plug your own wall adapter into a standard electrical outlet, or carry a portable power bank.
Stay alert to local distraction tactics. Pickpockets often rely on deliberate distractions—such as someone bumping into you, asking for directions, spilling a drink, or dropping a map. If an unexpected commotion happens around you in a crowded area, instantly place your hands over your pockets or travel pouch and step away.
During a trip through Europe many years ago, I wore a money belt hidden beneath my clothes for an entire train journey through Italy with no issues. But after checking into our hotel in Nice, France, we were in such a rush to get to the beach on a lovely afternoon that I made the mistake of placing my money belt—containing my passport, credit cards, and cash—directly inside my purse. We had barely left the hotel when my purse was pickpocketed. The thief reached right in and walked away with the money belt.
No one can guarantee you will never encounter financial fraud, but taking these precautionary steps will significantly reduce your risk and ensure you can enjoy your vacation with peace of mind.
Safe travels!