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Financial Checklist for Travelers

05/29/2019 - Financial Planning, Travel Tips

Summer is finally upon us. You may be planning a vacation for your family. Whether you’re taking a series of weekend excursions or a trip around the world (or something in between), there are steps you can take to ensure you won’t have any financial “surprises” when you return home.

  • Get your documents in order. Gather all the important documents you’ll need and make sure they’re still valid. Give a trusted friend or relative any document that’s needed to help your household function smoothly while you’re away, such as a will or a release to allow a caregiver authorization to provide medical treatment to a loved one.
  • Update your automated payments and withdrawals. Be certain when money will be deposited (direct deposit, electronic payroll, etc.) and withdrawn (e.g. automatic bill pay) from your accounts. You don’t want to worry about late fees or unpaid bills while you’re away.
  • Notify WesBanco of your plans. It’s a good idea to let us know (as well as other financial institutions or credit card companies you use) if you’ll be traveling somewhere out of the ordinary. This way, the fraud prevention team can keep track of your accounts and make sure you’re able to access your funds wherever you are.
  • Update your account alerts. You may want to set up customized account alerts for your trip – daily spending limit, regional use of your cards, account balance, etc. These can help you budget and give you peace of mind.
  • Review your insurance. Take a look at your insurance policies to be sure you’re covered wherever you go. If not, it may be wise to purchase a health or life insurance policy specifically for your trip. You may want to consider travel insurance in certain circumstances.
  • Know your environment. Research how financial transactions take place where you’re traveling. If you’re traveling outside the United States, know what payment methods are accepted so you won’t be stuck in a foreign country without access to your money. Having a good grasp on currency values can give you strong buying power on your trip.
  • Consider communication methods. Take a look at cell, email and other communication methods before you leave to ensure there aren’t any hidden costs or blackouts in your travel area.

Create a financial checklist before you go on vacation so you can relax and enjoy!
To contact WesBanco about your travel plans, call 800-905-9043 or visit your local banking center.

Content is for informational purposes only and is not intended to provide legal or financial advice. The views expressed are those of the author.

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