Points to Remember

This article is to refresh your memories about certain important points, which I have written about before and which you need to constantly remind yourself of.

1. Recently I met a friend who was relating the story about his briefcase being stolen at an international airport. Except for his passport and ticket all his important documents and money etc. were inside it.  He had several thousand dollars in cash and un-signed Travellers Cheques (TCs). I can understand him not having any recourse to the cash foreign currency, but Travellers Cheques?  Obviously when he went to the bank to report the theft and asked for a refund of his TCs the bank refused because it is mandatory to sign your TCs on the top as soon as you receive them. No bank can be held responsible for refunding any lost or stolen TCs unless they were signed. Please ensure that you follow this strict rule. A simple signature on the top was all that was required and my friend would have been re-imbursed by the bank for all his stolen TCs. A purchase form comes with the TCs;  please keep it in a separate place, as you will need it at the time of claim.

2. Please don't let any airport customs officer intimidate you when you are travelling overseas with USD cash currency. You are allowed to bring in USD5000 undeclared (and more with declaration) and the same can be taken out when you depart. This is over and above your travel quota.

3. Do not ever share your ATM card and pin number with anyone and I mean anyone including your own children or spouse. When using an ATM make sure no one is behind you looking over to see what pin number you are using.

4. Please make sure you keep your cheque book (including the requisition slip) in a safe place. It is easy to forge a signature (especially if you have a simple signature) and take out your money. The bank is not liable if the signature matches; it is your responsibility to keep your valuables under lock and key. If you think your cheque book has been stolen, report it to the bank immediately. They will block the cheques ensuring that no one can encash any. A new book will be issued to you.

5. When you check into a hotel, do keep your valuables in the locker available in the room. Do not roam around with your passport and all your money, no country is safe from pickpockets and they are getting savvier by the day. Make sure the password you use in the locker is not your birth date;  remember the hotel reception has a copy of your passport and it is easy for any of the staff to open your locker since most people do use their birth date as it is an easy one to remember.

More next time……