Whether you are travelling to an all-inclusive resort in Mexico, venturing overseas, or visiting our neighbours to the south in the United States, being financially prepared is essential. Aside from saving for your trip, preparation can involve several important steps, such as ordering foreign currency and purchasing travel insurance.
Order Currency
Travelers often carry some local currency with them when departing their home country. This can be used for various purposes, such as tipping, small purchases, or as a backup if you encounter any issues with your cards. Your local financial institution likely keeps U.S. currency readily available. However, you must call ahead to order other foreign currencies such as Mexican pesos or euros.
While it is convenient to have local currency on hand, it should not be relied upon in case of loss or theft. Store your money safely, and don’t travel with large sums.
Inform Your Financial Institution and Credit Card Company
Before travelling, it is advisable to inform your financial institution and credit card company about your travel plans, including when and to what cities/countries you are travelling. This will ensure your cards are not flagged and/or frozen when you make your first transaction abroad.
Insurance
It is highly recommended to purchase travel insurance before embarking on any trip. Travel insurance offers protection against unforeseen circumstances before or during your trip and can save you thousands of dollars. You can purchase travel insurance from local insurance companies or Sunrise Credit Union. Many credit cards include travel insurance so be sure to reach out to your provider to check if yours does. Click here to learn more about buying travel insurance with Sunrise Credit Union.
Protecting yourself against pickpockets
Unfortunately, popular travel destinations with bustling crowds are often targeted by pickpockets. But worry not! There are steps you can take to significantly reduce the risk of being pickpocketed.
Storing currency
Store any extra currency in the safe provided in your hotel room or accommodation while travelling. If a safe is unavailable, keep your money hidden and out of sight.
Pay bills before you go
Ensure your bills are paid before you leave, or if they are automatically withdrawn, ensure your account has sufficient funds to avoid any issues. Settling your bills in advance allows you to focus on what truly matters… enjoying your trip!
Travelling is very exciting, but it’s important to prepare yourself financially to ensure the best possible experience!
NEED TRAVEL INSURANCE?
Purchase travel insurance for your upcoming trip through Sunrise Credit Union.