Managing your money abroad

Managing your money abroad

Travel currency

As a follow on from our article – how to avoid the holiday rental booking scams – we wanted to offer some tips on keeping your money and valuables safe while on holiday. Almost one in four Brits have been stranded abroad without access to cash, so it’s important to know how to avoid these situations, along with what to do in the unfortunate event that any money or valuables do go missing.

Here are our top tips to keeping you money and valuables safe while on holiday:

  1. Divide your cash into small amounts and keep them in multiple places… this will help prevent the theft or loss of large sums of money.
  2. Treat your money in the same way as you would at home. So, I’m sure at home you wouldn’t leave large sums of cash on display and leave the front door open when you’re at home… then, don’t do this abroad either. It can be easy to feel more relaxed when you’re on your holidays, but don’t let this lead to carelessness with your cash!
  3. Why not try using a prepaid currency card rather than carrying lots of cash? You can top it up over the phone or through online banking whenever needed and use it to both withdraw cash and make in-store purchases when abroad. However, keep in mind that there may be charges incurred when making a payment.
  4. PickpocketsTry to blend in with the crowd. Also, avoid flashing any money or valuables and make sure to keep your bags with you at all times. Be particularly vigilant in places popular with tourists such as larger cities where pickpockets tend to be more prominent.
  5. Let your card issuer know if you’re going on holiday. That way, if you plan to use your credit or debit cards abroad, it will be easier for them to recognise genuine transactions and ensure that these aren’t stopped.

We’re not trying to scare you…. Italy is a friendly and welcoming holiday destination. But it always pays to be vigilant and know what to do if you are unfortunate enough to b a victim of crime during any holiday you take.

The good news is Sainsbury’s Bank have created a handy guide to keeping your money safe abroad to ensure your break is as enjoyable and stress-free as possible. It’s definitely worth a read ahead of your Italian villa holiday.