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TODAY MONDAY 25 NOVEMBER 2013

BE A SAVVY TRAVELLER

Minimum fuss, maximum convenience on your next vacation

FROM DERRICK GOH Head of POSB

HOW CAN I GET UPDATES ABOUT MY TRAVEL DESTINATION?

WHAT DO I NEED TO DO IF I WANT TO USE MY CARD WHEN I AM TRAVELLING?

like keeping your card in sight at all times.

WHAT ARE THE BENEFITS OF USING MY CARD OVERSEAS?

WHICH TYPE OF INSUR ANCE SHOULD I CONSIDER BUYING BEFORE MY HOLIDAY?

If you travel with your loved ones, a family plan is best. This gives you a discounted rate compared to individual insurance covers. Premiums for Single Trip plans are calculated based on the number of days you are outside the country. Most annual plans cover an unlimited number of round trips within a 12-month period and make sense for frequent travellers, as premiums are lower per trip. Comprehensive travel insurance plans like TravellerShield offer different levels of coverage so you can choose the plan that best suits your needs. Such plans are quite affordable and help give you peace of mind so you can enjoy your trip.

Unforeseen circumstances such as natural disasters can disrupt even the best-laid plans. Wouldnt it be good if you automatically receive the latest news about your destination? For instance, TravellerShield* travel insurance, which is available at POSB, includes a complimentary TravelAlert Service for selected plans that sends location-specific SMS updates about your destination. This useful service helps you avoid any potential trouble spots during your travels. Alerts are sent about events such as: Political unrest, war, terrorism Natural disasters Riots, protests, strikes Health advisories This is the rst time such a service has been offered as part of travel insurance cover in Singapore.

You will have to turn on your credit / debit / ATM cards magnetic stripe for overseas use before you travel. The cards magnetic stripe was disabled in line with the industrys measures to enhance cards security. These measures are aimed at lowering the risk of unauthorised transactions occurring on your card, as the magnetic stripe information can be easily copied. Customers whose records show they have used their cards overseas would have previously received a notication from the bank that their card has been auto-enrolled to allow their cards magnetic stripe for overseas use. Not all merchants overseas can handle chip transactions so you may still want to turn on your cards magnetic stripe at your banks ATM or through Internet banking. Using your card overseas is still relatively safe if you take a few simple precautions

OVERSEAS CASH REBATES

Cards like the POSB Everyday Card, which offer a 2-per-cent cash rebate on overseas purchases, are becoming more popular as they help you save and make your travels more convenient.

One of the key advantages of using your card overseas is the added safety you enjoy from not having to carry so much cash with you. POSB credit cards can be used as ATM cards (youll need to link your savings or current accounts to your credit card rst), but do remember to select the right options at overseas ATMs to avoid the possibility of incurring cash advance charges. A credit card like the POSB Everyday Card offers a 2-per-cent cash rebate on overseas purchases. Refunds on overseas sales taxes can also be credited to your card to make travelling more convenient.
*TravellerShield is underwritten by MSIG Insurance (Singapore) (MSIG) and is distributed by POSB Bank.

Holidaying without the headaches

Vacations can be hassle-free if you do your homework and make the right preparations
Singaporeans are travelling more frequently due in part to the countrys position as a regional hub for travel and business as well as the growth of low-cost carriers. Planning for a holiday can be a stressful experience for some, but getting ready for that vacation doesnt need to be a painful process. With a bit of preparation, your travels should be smooth-sailing all it takes is a little bit of planning.
HASSLE-FREE, WORRY-FREE

high medical bills, travel disruption, loss of personal belongings, and personal liability will add to your peace of mind. The recent occurrences of natural disasters such as Typhoon Haiyan and cases of civil unrest around the world have made travellers more aware not just of the need to buy insurance, but the right type of travel insurance. Before you buy a travel insurance policy, make sure you read and understand all the benets, coverage and exclusions. Different aspects of a policy, such as the amount of excess (how much the insured party has to pay if a claim is made), can make a huge difference in an emergency.
SAVING AT HOME AND ABROAD

BUYING A TRAVEL INSURANCE POLICY?

Consider these key factors before you buy your policy: Coverage of medical expenses Trip cancellation coverage Access to a 24-hour assistance hotline Coverage for the loss of money Cost of replacing travel documents

Start by making a checklist. Its a simple step, but remains one that some people tend to overlook. It should include essential items such as : Passports Tickets Allow cards for overseas use First-aid kit and toiletries Electronic devices and chargers Clothes Travel insurance Buying travel insurance and allowing your ATM, credit or debit cards for overseas use should be a priority. Youll be overseas and most likely out of your comfort zone, so having coverage for emergencies like serious illnesses, accidental injuries,

What if you nd that perfect souvenir on your travels but realise that youve left your extra cash in your hotel safe? Youll find that having your cards already allowed for overseas use would be very helpful in situations like this, so you may want to do this before your trip. The magnetic stripe on ATM, credit and debit cards was disabled for overseas use on Sept 22, though cards with EMV chips can still be used oversea s a s they a re protected by encryption. Not all overseas merchants can handle chip transactions so its a good idea to allow your cards magnetic stripe to be used overseas. Its reassuring to know that you can withdraw money when youre

ILLUSTRATION: ONG ZE TENG

overseas from affiliated ATMs. This also makes your travels safer as you carry less money.
TRAVEL SAVVY

One way to travel smart and help offset the cost of your trip is to use a credit card that provides rewards on your spending. This can come in the form of merchant rewards, or in the case of the POSB Everyday Card, a 2-per-cent cash rebate on overseas purchases. Cardholders also enjoy cash rebates when they shop in Singapore, so they also save on daily expenses before and after their holiday.

Buying travel insurance and allowing your cards for overseas use should be a priority ... Youll be out of your comfort zone, so having coverage for emergencies ... helps give you peace of mind.

And there are even more ways to travel smart there are numerous ways to reduce holiday expenses so that it doesnt become a financial burden. For instance, if you plan your trip early, youll have a better chance of finding deals on airline tickets and hotel rooms these alone can add up to signicant savings. Timing your trip to coincide with off-peak tourist seasons will also increase your chances of finding good deals on car rentals a nd accom modation. F i nd i ng accommodation in a central location and claiming tourist rebates on sales taxes will also help reduce your expenses further. Planning ahead goes a long way towards making your trip an enjoyable, worry-free adventure. Not only will you get to see the world without breaking your budget, you and your loved ones will also have treasured memories to last a lifetime.
This is the eighth stor y in a 19 -par t collaboration between TODAY and POSB.