Traveling abroad can be an exciting experience, but it is important to ensure that all necessary preparations are made in advance to ensure a smooth and stress-free trip. As more and more Bhutanese are drawn to Australia, one aspect that is often overlooked is updating phone numbers with banks. In this article, we will discuss why it is crucial to update phone numbers with banks before traveling abroad, and how this can prevent potential issues with accessing bank accounts and financial services.

The Recycling of Phone Numbers by Telecom Companies

Telecom companies such as Bhutan Telecom and Tashi Cell, recycle phone numbers for various reasons, such as when a customer cancels their service or when a phone number is no longer in use. This means that a phone number that was once assigned to a customer can be reassigned to another person, potentially leading to issues with accessing bank accounts. If a bank has an outdated phone number on file, they may not be able to contact the account holder in the case of suspicious activity or security issues. This can result in a temporary suspension of the account, or in some cases, a permanent closure.

Another issue that has come to the forefront recently is that of people losing their funds from their account as a result of somebody else taking over the phone number. It is rather easy for anybody to get access to their bank app such as mBOB and mPAY, just by using OTP verification methods, where in customer give their phone number as well as their account number for full access. Therefore, it is very pertinent for people to change their phone number to something else.

The Importance of Contacting Banks in Case of Suspicious Activity

Banks such as Bhutan National Bank have systems in place to detect suspicious activity on accounts, such as unusual or large transactions, or changes in account behavior. If such activity is detected, the bank will typically try to contact the account holder to verify the transactions. If the bank has an outdated phone number on file, they may not be able to reach the account holder, and this can result in a temporary suspension of the account.

If phone numbers are not updated with banks before traveling abroad, the consequences can be serious. Banks may not be able to reach the account holder in case of suspicious activity, which can result in a temporary suspension of the account. In addition, it can also cause significant financial loss, as well as the inconvenience of having to apply for reinstatement of the account.

Updating Phone Numbers with Banks Before Traveling Abroad

Updating phone numbers with banks before traveling abroad is a simple and straightforward process. Most banks have customers service units to which customer can contact directly to make the update. It is important to do this at least a week before traveling, to ensure that the bank has sufficient time to process the update and to ensure that the updated information is available in the event of any issues while abroad.

Conclusion

In conclusion, it is important to update phone numbers with banks before traveling abroad. This simple step can prevent potential issues with accessing bank accounts and financial services, and ensure a smooth and stress-free trip. Taking the time to update phone numbers with banks before traveling can save time and money in the long run, and help prevent the consequences of having an outdated phone number on file. So, before embarking on your next international adventure, make sure to update your phone number with your bank to ensure that only you have access to your financial resources and accounts.