Financial Literacy Month-BMO's Tip of the Day: Carry a Trio of Payment Options When You Travel/Shop South of the Border
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/14/12 -- To mark Financial Literacy Month, BMO Financial Group is releasing a series of financial tips throughout November. As part of BMO's commitment to 'Making Money Make Sense', the tips are designed to help individuals and families save and manage their day-to-day finances more effectively.
BMO's Tip of the Day: Using a combination of a credit card, debit card and cash will give you convenience, security and flexibility when you travel or shop in the United States.
More Canadians than ever are expected to flock to the U.S. this winter. If you plan to travel to the U.S. or anywhere outside Canada, here are three simple criteria to help you decide what combination of cash and cards you need to carry in your wallet:
Su McVey, Vice President, BMO Bank of Montreal suggested: "Carrying a combination of all three payment options - cash in local currency; a widely recognized and accepted credit card that offers some form of purchase protection; and a debit card that gives you access to your Canadian bank account from local ATMs and Points of Sale terminals - will provide you with the highest degree of convenience, security and payment flexibility when you're travelling outside of Canada."
Credit Cards: Credit cards remain the most popular way to pay among Canadian travellers. In addition to world-wide merchant acceptance, many credit cards offer loyalty rewards, insurance against loss or theft of purchased products, extended warranties and zero liability in cases of fraud. Some cards, such as the , also include travel medical coverage, trip cancellation/delay insurance, and car rental collision damage waivers, which can add up to substantial savings for travellers. If travel insurance features are not built into your credit card, they can often be added on an as-needed basis at a competitive cost.
Debit Cards: Some bank plans with unlimited transactions allow for domestic and international debit card transactions at no additional cost, so check your banking balance. For a low monthly fee, BMO's Performance Plan allows unlimited transactions internationally over the Maestro network, as well as withdrawals from BMO Private Bank in the United States.
Local currency (cash): Have a small amount of local currency on hand so that you can pay for incidentals such as the cab ride from the airport and tips. But don't take too much; if it is lost or stolen, it is gone. BMO branches usually have U.S. dollars available, as do many BMO ATMs - particularly those in cities and towns that border the U.S.
"CFEE commends BMO's ongoing efforts to support Financial Literacy in Canada and promote ways in which Canadians can increase their competence and confidence when managing their personal finances on a day-to-day basis," said Gary Rabbior, President, Canadian Foundation for Economic Education (CFEE).
BMO Financial Literacy Month Tips
November 1:
November 2:
November 3:
November 4:
November 5:
November 6:
November 7: .
November 8: .
November 9:
November 10:
November 11:
November 12:
November 13:
For more on financial literacy, Canadians can visit the Government of Canada's website, as well as BMO's online resource.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $542 billion as at July 31, 2012, and more than 46,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
Contacts:
Media contacts:
Carol Greene, Toronto
(416) 867-3996
Valerie Doucet, Montreal
(514) 877-8224
Laurie Grant, Vancouver
(604) 665-7596
Internet:
Twitter: (at)BMOmedia
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Datum: 14.11.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 203320
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Commercial & Investment Banking
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