This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

4 Financial Safety Tips for Leisure Travelers

NEW YORK ( TheStreet) -- Have leisure time, will travel -- especially when it comes to traveling overseas: It seems to be the mantra for a growing number of Americans.

According to, 30.3 million U.S. citizens travel abroad each year -- about 10% of the U.S. population. reports that 85% of those travelers are strictly "leisure" tourists, and may not be as financially and culturally savvy as business travelers who usually know the ropes (because their companies warn them) of financial risks overseas.

Nobody should embark on an international trip without taking a few key personal financial precautions.

That could mean simply contacting your financial institution and letting them know where you're going, or carrying a "backup" credit card in case primary card is lost or stolen.

Sarasota, Fla.-based BMO Harris Bank is out with a helpful list of financial steps to take before traveling abroad:

Let your bank know where you're going. Always contact your bank and credit card company before traveling abroad. That way they're not taken by surprise by multiple uses of your debit and credit cards overseas. Just let them know where you're going and what dates you'll be traveling; if not, your financial institution could shut down your credit card over "out of the ordinary" purchases when your need your card most.

"Banks and credit card companies monitor customer card activity looking for anything out of the ordinary," explains Dave Maraman, president of BMO Harris Bank Florida. "Contacting the card issuer prior to leaving for a trip will help them know to expect to see activity different from your normal spending pattern."

Don't book a trip on an unsecure website. Identity thieves drool over the prospect of your using an unsecured site to book a trip overseas, since it mans plenty of opportunities to swipe your credit card number. Use secure booking sites such as, Expedia (EXPE) and -- all of which go out of their way to protect your financial data.

Bring a "backup" credit card. When traveling overseas, always carry a backup credit card. That will come in handy if you lose your card or, worse, if it's stolen.

If you need cash, use an ATM. Some countries emphasize paying cash over credit cards, so make sure you research the payment preferences of your destinations and, when you do need cash, use an ATM over currency exchange offices. ATMs usually offer better exchange rates.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.66 +8.01 0.39%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs