Why You Should Always Notify Your Bank Before Traveling Abroad (2024)

FAQs

Why You Should Always Notify Your Bank Before Traveling Abroad? ›

Always tell your bank when you're going abroad.

Notify Your Bank

Inform your bank and credit card company of your travel plans, so they do not flag charges you make in another country as fraudulent. Some companies allow you to enter travel dates online, or call your bank directly.

Notify Your Bank

Larger banks generally grant customers the ability to avoid bank fees when withdrawing cash and reduce the likelihood of your bank flagging your account for spending overseas. As with your credit card, if you're with a big bank, stay on the safe side and notify them of your trip.

Your credit card company or bank may not need to be notified before you take a trip. That's because of improvements in fraud detection technology and security. If you choose to set a travel alert, you can usually do it over the phone, online or in your bank's or credit card issuer's mobile app.

Letting us know you're traveling internationally will helps us protect you against potentially fraudulent activity. Choose an account from your dashboard then select the Account services tab. Select Travel notifications from under Alerts & notifications.

While you can typically use a debit cards in another country, you may have to pay a foreign transaction fee. Though these fees vary by bank and card issuer, they are usually around 3% of any transaction abroad. In addition, you may be given the option by a merchant to pay in local or U.S. currency.

Notifying your credit card company about your travel plans used to be an important thing to do before a trip. With Chase, that's no longer the case. You don't need to set up a Chase travel alert before you go anywhere, even when traveling abroad. In fact, Chase doesn't even offer this option anymore.

It's legal to travel with more than $10,000 in the United States and abroad. You have the right to travel with as much money as you want. However, during international travel, you need to report currency and monetary instruments in excess of $10,000.

Debit cards with a Mastercard or Visa logo are widely accepted in Europe. American Express is somewhat less common, except at tourist destinations. Most banks charge a foreign transaction fee and/or a currency conversion fee, so it is worth double-checking these costs before departure.

Monzo. Again, Monzo's current account is free and there are no fees for making purchases abroad. It uses the Mastercard exchange rate.

Do I need to put a travel alert on my debit card? ›

Notify your bank before using a credit or debit card when traveling. Banks do whatever they can to protect you from identity theft. But if you're not careful, your bank's eagerness could backfire when you travel.

If you are willing to pay the charges, verify with your carrier that international roaming is activated before you travel. For most U.S. customers, domestic service plans do not cover usage abroad.

Visa and Mastercard are the most widely accepted throughout the world. If a business accepts credit cards, your Visa or Mastercard will likely work fine. The other two — American Express and Discover — do have a global footprint, but they are accepted at fewer merchants.

So long as you've got access to a secure Internet connection, an international mobile number, or an Australian phone with global roaming, you can continue to bank in the same way you would at home.

If you already use online banking, there's likely an online travel notice where you can enter your destination and the length of your trip. If you've got multiple countries on your itinerary, you can specify that as well. If you don't have online banking, call your bank to set up a travel alert on your account.

A foreign savings account provides investment opportunities, access to financial instruments in the country where it is held, and protection against possible economic turbulence in certain countries. Sometimes, banks located outside the U.S. pay higher savings interest rates as well.