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Budgeting and Saving

Travel on a Budget

A person traveling and using an ATM machine

Smart banking tips for your next getaway

When everyone seems to be talking about their travel plans—if they haven’t jetted out already—it’s time to decide what your vacation will look like this year. Before you hit the road with the kids or set sail to your dream destination, here are a few things to keep in mind.

 

Paying for your vacation

Whether your plans include backpacking, a luxury cruise, or something in between, they’re going to cost something. So, what’s the best way to pay?

  • Pay with plastic. If you’re a fan of earning points or getting cash back, be extra careful. Please, please, please do not put everything on a credit card without a plan to pay it off right away. It’s easy to find yourself in a credit hole and incredibly tough to dig yourself out. Your money should go toward vacation fun, not boring credit card interest.

Worried about overspending? Download a travel budget app to help you keep costs under control.

Using ATMs and debit cards 

There are no fees for using your Flagstar debit card at ATMs in the Allpoint or Presto! network. When you’re traveling, find the closest ATM at flagstar.com/atm. There are fees for using ATMs outside those networks and fees for exchanging currency when you use ATMs outside the U.S. You can avoid ATM fees by paying for purchases with your debit card and getting cash back at the register.  

 

Putting your bills on a schedule—and out of mind

If you haven’t set up online bill pay, now is the perfect time to start. You might be on vacation, but your bills aren’t. Sign into online banking to schedule payments ahead of time so you can focus on your trip. If you forget to schedule a payment, you can pay by web or mobile app from anywhere as long as you have internet access.

 

Keeping your money safe on the road

Before you head out, learn about the features that protect your credit and debit cards against theft and fraud. For example, when you sign into your Flagstar account, you can use Manage Card to place spending limits on your Flagstar Visa® Debit Card or freeze it if it’s lost or stolen. (Then call 888-248-6423 immediately to report it.) 

From there, you can rest easy because Visa’s Zero Liability1 policy protects your Flagstar debit and credit cards from unauthorized purchases. Your Flagstar Visa® Credit Card includes other benefits, too, like rush delivery for replacement cards and emergency cash.

Finally, let your bank and credit card issuer know before you travel overseas. You can call or, with Flagstar, sign into online banking, go to Manage Card, and select Manage Travel Plans. The last thing you want is for purchases to be declined because your bank thought they were suspicious.

There you have it. With a bit of planning and precautions, your bank account is cleared for departure. What are your hacks for budget travel? Be sure to let us know on our social media channels.

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Earn 5.55% APY2 with Promo Flagstar Savings Plus

Grow your savings with 5.55% APY2 guaranteed for the first 5 months.

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Add your debit and credit cards to your mobile wallet, then just tap your phone when it's time to pay.

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1Visa’s Zero Liability policy covers U.S.-issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit visa.com/security.

Promo Flagstar Savings Plus 5.55% APY 

2Annual Percentage Yield (APY) is accurate as of 6/25/2024. Tier 1 $25,000.00 - $999,999,999.99 features an annual percentage yield of 5.55%. Tier 2 $0 - $24,999.99 features an annual percentage yield of 0.10%. Initial minimum opening deposit to earn the higher interest rate on the Promo Flagstar Savings Plus account is $25,000.00 and must be “New Money,” which is defined as money that is not currently on deposit in any Flagstar Bank account (except maturing CDs). Additionally, (i) account must be funded within 60 days of the approval date and (ii) early account closure fee and reclamation of interest paid may be imposed for accounts closed within 180 days. The 5.55% APY is guaranteed for the first 5 months after account opening. After the promotional period, the account will earn the posted interest rate of the Flagstar Savings Plus accounts, which is a variable rate and subject to change. A maintenance service charge of $15 will be imposed every statement cycle if the average daily Collected Balance in the account is less than $10,000. This charge may be waived if the account is linked to any Flagstar Bank personal checking account. Not available for public units. Fees may reduce earnings. Personal accounts only. Limited time offer. Area restrictions may apply. If you are a Private Bank client, please contact your Private Client Group to enroll.