How to avoid fraud and hidden fees on vacation
Holidays are synonymous with the idea of relaxation, but this does not mean that the vigilance regarding financial security and personal data must be reduced. Frauds related to foreign exchange, hidden taxes or theft of information can compromise even the most careful journey, stresses XTB analysts, investment company on international scholarships.
Given that organization and safety measures can make the difference between a successful and unhappy holiday, XTB specialists bring to attention a number of tips and possible solutions to consider this season.
Foreign exchange and cash withdrawal
Many tourists change currency in airports or unofficial houses, attracted by the promise of « advantageous » courses. In reality, these options can hide additional or practicing commissions unfavorable. Under these conditions, it is recommended to identify authorized financial offices and to verify the tenders in advance, to avoid the waste of money.
Also, the rush and the multitude of people near the ATMs can create ideal contexts for thefts. Thieves take advantage of confusion in crowded areas to evade wallets or purses. In addition, when withdrawing cash, tourists are advised by police not to keep the money in sight than necessary.
The use of ATMs in illuminated and monitored locations, such as shopping centers, can reduce the risk of fraud. An additional safety measure is to set a daily withdrawal limits.
How additional commissions can be avoided
Abroad, the card payments often involve commissions larger than the internal ones, especially at currency conversion. Therefore, it is natural the recommendation to withdraw cash before the commissions. Although the cash remains useful in areas with fewer tourists, many opt for card payment. However, in the case of large amounts, such as those for accommodation or car rental, additional costs can be considerable.
As a solution to avoid the additional costs associated with currency conversion, many users are oriented towards multivial cards developed by companies such as XTB, which offers the possibility of using such an instrument without foreign exchange.
Protecting data, important and on vacation
Personal documents and data must also be protected during travel. It is recommended that tourists do not leave the passport or identity card as a warranty at hotels, but opt for the payment of a warehouse. The presentation of the documents to the check-in is mandatory, but it is advisable to provide only the essential information.
The use of travel cards in travel requires increased attention, so reducing the daily transaction limit and activating notifications can limit losses in case of fraud.
Also, connecting to public Wi-Fi networks can expose users to cyber risks. Networks in cafes or hotels do not provide best safety. XTB specialists recommend avoiding the access of sensitive platforms, such as online banking or social networks, through unsecured connections.
