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Getting ready to travel abroad?
Here are some tips to consider.
Traveling internationally? Here’s help understanding the nuances of foreign transaction fees, exchange rates and how to protect your money before you go.
Foreign travel can broaden your mind. But unless you’re careful, it can also thin out your wallet. Use these valuable tips to help keep your finances under control when traveling abroad.
Before you go:
- Pay your bills.
Make sure you’ve paid all your bills and your accounts are up to date. If you’re leaving for more than a month, use Online Banking to schedule payments ahead of time, to help avoid late charges that could pile up in your absence.
- Inform your bank that you’re traveling.
If your bank or credit card issuer sees a bunch of charges to a Caribbean resort, they may suspect fraud and freeze your card, so keep them in the loop on your travel plans. If you are a Bank of America customer, you can set up a travel notice via Online Banking to alert us you’re planning to use your card while traveling.
To set a travel notice, sign in to Online Banking and go to the Help & Support page, select either the Checking & savings accounts topic or the Credit cards topic and then select the Use your card while traveling link and enter your trip details. You can also call 1.800.432.1000 for assistance.
- Pack double the forms of payment.
As a precaution, have at least two forms of payment when traveling, such as a debit card and a credit card, in case one of them is not accepted as payment where you are traveling.
- Check your health coverage.
If your health plan does not cover costs incurred while traveling, purchase a comprehensive travel health insurance policy.
- Lock in a favorable exchange rate before you leave the U.S.
Exchange rates can change in a Cancun minute. Eliminate uncertainty by making the exchange before your trip, and buy foreign currency ahead of timeFootnote1.
- Prepare your PIN.
Some international ATMs support only 4-digit PINs. Be sure your PIN does not start with a zero, and know your PIN by the numbers, as some ATMs outside the United States do not have letters on the keypads. To change your PIN prior to traveling, select “More Options”, select “Change PIN” and follow the screen prompts at a Bank of America ATM.
While you’re traveling:
Be prepared before using an International ATM.
Before you use your card to get cash from an international ATM it pays to do a little research. When you use a foreign ATM, you could be charged a variety of fees, including non-bank ATM usage fees, ATM operator access fees, and international transaction fees for conversion to U.S. dollars. One way to limit such fees is to use your Bank of America ATM or debit card at one of our international partner ATMs. This enables you to avoid the Non-Bank of America ATM $5 usage fee for each withdrawal, transfer or balance inquiryFootnote2 as well as the ATM operator access fee.
Read More: https://www.bankofamerica.com/deposits/manage/how-to-pay-when-traveling-abroad.go