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?

• Save up the entire amount in advance. That doesn’t mean walking around with a cash-stuffed wallet. It means having enough money in your account to cover everything and taking some cash with you. When you run out of cash, you can pay with your debit card or withdraw more from an ATM. (We’ll get to ATMs later.) If your trip is a few months away, you can build up your savings in a regular savings account, earn more with a high-yield savings account, or open a CD to lock in a great rate. Your kids can put money aside for souvenirs with kid-friendly savings. You can also round your debit card purchases up to the next dollar and save the difference, so every time you shop, you’re adding to your trip fund.

• 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.

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.