If you’re about to head off in search of new horizons, and you truly want to enjoy the journey, you need the freedom to manage your money on the go.
Online and mobile banking can be powerful tools for travelers, and with a bit of planning and preparation, they can make banking on the road both safe and simple.
Banking Services You Can Access Online or On Your Mobile Device
Online and mobile banking offer a full range of services. Your ability to access these key services while traveling will help you put your mind at ease, and enjoy your trip:
- View transactions and balances. The ability to get information about your bank accounts – like balances and recent transactions – is one benefit of online and mobile banking.
- Transfer money between accounts. Move money between your checking and savings accounts, or transfer to or from your accounts at other financial institutions and even send and receive money from others while on the go.
- Pay bills and schedule payments. Online billing should be more than just the digital equivalent of mailing a check. Good online and mobile banking makes it possible to schedule payments in advance.
- Get account alerts and notifications. According to a Federal Reserve survey, around one-third of consumers who use mobile banking receive text message alerts, with the majority of these individuals getting notifications when their balances are low or payments are due.
Online Banking Tips for Travelers
To help you enjoy your trip, take note of these precautions before traveling:
- Inform your financial institution. Whether you’re headed out of state or traveling abroad, inform your financial institution that you’re traveling, so they can track suspicious activity to help you stay secure.
- Confirm online payments. Plan ahead and set your online payment dates for your bills. However, not all bills can be deducted automatically, so if you plan to pay a new bill online, be sure the payee allows online payments and set up their information before you go.
- Stay informed. Make sure you set up new alerts – or review existing alerts – on your account to ensure they are relevant for the information you will need during your trip.