When Travelling, It May be Better to Use Cash

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When Travelling, It May be Better to Use Cash

Becoming a victim of credit card fraud is a nightmare. Many credit card companies leave it up to the consumer to identify and catch any suspicious or incorrect charges on their credit card. It is important to check your statement each month and verify all the charges.

When you are travelling, it gets a bit harder to identify incorrect charges. You may not have access to the Internet to check your card frequently and there may be merchants with whom you are not familiar. There are places where you may use your credit card that beg for extra attention.

ATM Locations

You probably won’t be familiar with ATM locations when you are travelling, so you are more apt to end up at an ATM that is privately owned rather than owned by a bank. The encryption on these ATMs may not be as good and this opens them up to the possibility of being hacked. There are even machines out there that appear to be ATMs, but are what are referred to as “card-skimming” machine which will read and steal your credit/debit card information.

Depending on where you are visiting, a trip to the outdoor bazaar may be in order. Some vendors who do accept credit cards may do so with carbon copies, increasing the possibility that your credit card information could be compromised. It’s better to carry cash when visiting an outdoor market.

Small cafes and shops in foreign countries have much higher rate of credit card fraud. Many times, these fraudulent charges have to be written off by banks because they are not able to locate the merchant. If you have any doubts, use cash rather than your card.

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