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10 Smart Ways to Carry Money While Traveling

Christine Sarkis

There's a 95 percent chance Senior Editor Christine Sarkis is thinking about travel right now. Follow her on Instagram @postcartography and Twitter @ChristineSarkis .

Christine Sarkis is an SATW-award-winning journalist and executive editor at SmarterTravel. Her stories have also appeared on USA Today, Conde Nast Traveler, Huffington Post, and Business Insider. Her advice has been featured in dozens of print and online publications including The New York Times , Conde Nast Traveler , and People magazine. She has also shared travel tips on television and radio shows including Good Morning America, Marketplace, and Here & Now. Her work has been published in the anthologies Spain from a Backpack and The Best Women's Travel Writing 2008 . She is currently working on a travel memoir.

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Travel Motto : Curiosity is an amazing compass.

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Carrying money on vacation is a balancing act between safety and utility. Making money difficult to access deters thieves, but when it comes time to pay for something, you still want to be able to get to it without stripping off clothes or playing hide-and-seek with a bag’s hidden pockets. With that in mind, here are 10 tips that will help you carry money safely and elegantly while traveling.

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Divide Money

Even if you disregard all other advice about carrying money, take this tip to heart: Whenever possible, divvy up your travel cash and even credit cards into multiple safe spots. If you have all your money in one place, it only takes one incident for a thief to totally wipe you out.

When possible, leave all the cards and cash you won’t need immediately in a secure location in your hotel or vacation rental. And when you’re out and about, keep some of your money attached to your person (see below for ideas about how to wear money securely), and some in a bag you carry. If you’re smart about how you distribute your funds, you’ll still have enough money to get to a police station or back to your hotel in the event your bag gets lost or snatched.

The Best Credit Cards for Travelers

Favor On-Body Storage

Under-clothing storage accessories have come a long way since neck pouches and money belts came onto the scene. Though those classics are still effective, newer options include bra stashes , as well as long johns , underwear , and undershirts with built-in pockets for safe storage. On-body storage accessories are particularly useful if you’re sleeping somewhere that doesn’t have a secure place for cash and other valuables.

Note that on-body storage isn’t a good wallet alternative, since fishing around under your clothes for money advertises where you’re hiding the goods.

Keep Small Bills Handy

Changing or withdrawing large amounts of money minimizes the fees you’ll pay to get local currency, but it also means you’ll be traveling with far more cash—and larger bills—than you’d likely have on you at home. In addition to dividing your money, it’s also wise to make smaller denominations of currency easily accessible. That way, you won’t pull out the local equivalent of a $100 bill while attempting to buy a 30-cent souvenir. You also won’t have to reach down into your jeans to get more money from an under-clothing money pouch.

Make money preparation part of your morning routine: As you’re packing your bag, make sure you’ve got a variety of small bills and coins at the ready for purchases such as food, souvenirs, and attraction entry fees. Squirrel away larger bills in your under-clothing money pouch , or tuck them into a secure part of your wallet or bag.

3 Incredible Money-Saving Tips from a Flight Attendant

Carry an Anti-Theft Bag

If garbage-bag commercials have taught us anything, it’s that some bags are tougher than others. The same goes for travel purses , backpacks , and bags —some, designed specifically for travel, have features such as cut-proof, steel-cable-reinforced shoulder straps; slash-proof fabric; and locking zippers.

Since elements like these slow down thieves, anti-theft bags can do a decent job deterring opportunistic pickpockets. Anti-theft bags are available online from Arden Cove , Pacsafe , Travelon , and other retailers. Consider your purchase an investment that might save you some money.

Trim Your Wallet

Are you going to need your library card when you’re 6,000 miles from your local branch? Probably not. Before you leave, take the time to go through your wallet and take out everything except the necessities (a primary credit card and a backup, an identification card, an insurance card, etc.). Not only will it help you travel lighter, but if your wallet does get lost or stolen, you’ll have fewer items to replace.

How to Save Money on Gas: 8 Easy Tricks

Use a Dummy Wallet

If you’re traveling in a place known for pickpockets or muggings, consider getting a cheap wallet that looks real enough to use as a decoy that you can keep in your pocket or bag. Pad the wallet with some small bills and make it look more real by slipping in one or two of those sample credit cards you get with offers in the mail. A dummy wallet can stop pickpockets before they get to your real wallet.

Buy a Travel Wallet

In addition to a dummy wallet, you might also consider a wallet that you reserve specifically for travel. There’s one simple reason for this: If you’re the type of person whose day-to-day wallet is packed with cards—gym memberships, prepaid coffee cards, frequent-buyer punch cards, and the like—the card pockets are likely to be stretched out and won’t be able to securely hold just an item or two. By keeping a travel-only wallet at the ready, your cards will have snug pockets that they can’t slip out of accidentally.

As an added bonus, you won’t have to unpack and repack your day-to-day wallet; you can simply transfer what you need for your trip to your travel version.

Is It Better to Pay in Local Currency or USD When Given the Option Abroad?

Adapt to the Local Money Culture

Being prepared to pay your way on vacation means different things depending on where you are. In a cash economy, you’ll need to make sure to have a variety of bills and coins on hand at all times, but your credit cards will likely just collect dust.

However, in much of Europe and parts of Asia, where automation is common and chip-and-PIN credit card technology is standard, having a compatible credit card will come in very handy, especially if you find yourself at an unattended gas station late at night or a train station after hours. Also keep in mind that in some countries, U.S. dollars are an official or unofficial secondary currency, so it’s wise to keep a few greenbacks at the ready.

Use Money Alternatives

In high-traffic settings such as metro stations and close quarters like bus lines, it’s nice to be able to forgo cash or credit card transactions and rely instead on a multi-use ticket or other cash alternative. If you’re in a city where the public transportation system offers multi-use cards (for instance, London’s Oyster card or San Francisco’s Clipper card) or where you can buy a bunch of tickets at once for a discounted price, then take advantage. You’ll reduce your chances of losing your wallet simply by retrieving and stowing it fewer times.

Where to Get the Best Exchange Rate When You Need a Foreign Currency

Stow Valuables Securely

Sometimes the best way to carry money is not to carry it at all . Hotels’ in-room safes are generally pretty secure, and if you’ve got an item (or a wad of cash) you’re particularly nervous about, check to see if the hotel has a safe-deposit box behind the desk. If you do use a hotel lockbox of any sort, remember to retrieve your items when you leave. In the rush to pack up and depart, out of sight can easily mean out of mind—until you’re on your way to the airport. If you’re a forgetful type, leave a colorful note on top of your suitcase .

Editor’s note: This story was originally published in 2016. It has been updated to reflect the most current information.

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Home » Gear » best way to travel with money

How to Hide Money While Traveling (MUST READ! • 2024)

Traveling is fun. Traveling is awesome. Travel is life changing. But it doesn’t mean that travel can’t be dangerous, or that accidents can’t happen.

Whether you are robbed, or you accidentally leave your wallet in a taxi, or misplace your debit card – shit happens! You should ALWAYS have some emergency cash hidden on your body, no matter where you are traveling in the world.

I’ve been traveling the world for 10 years now, and I’ve learned a few tips, tricks, and hacks about hiding money while traveling, and I am going to unleash all of them right now.

Let’s jump into the 8 best ways to hide money while traveling… A few of them will definitely  surprise you.

Best Ways to Hide Cash when Traveling

Tip top tips for traveling with cash, how to hide money when traveling, #1 a secret money belt, #2 hidden pockets , #3 laminated photo album, #4 scarf with hidden pocket, even more ways to stash your cash when travelling, #5 undercover leg wallet, #6 wrist wallet, #7 travellers money belt, #8 in your shoe, #9 inside a water bottle, #10 get insured, faq about the best way to travel with money.

In some countries, like Venezuela, there is a black market exchange rate on cash and this means that if you are to get the best bang for your buck you have to bring cash into the country. And anyway, if you know anything about how travel foreign exchange works , you’ll want to bring cash rather than just relying on ATMs and cards.

Venezuela, in particular, poses a bit of a problem for backpackers as it’s a country with spiraling inflation and a crazy crime rate.

Local thieves know that backpackers have foreign currency on them and with foreign currency worth an absolute fortune in Venezuela, this makes travellers a target.

Whilst travelling across Venezuela, I had a literal pillowcase of Venezuelan bolivars hidden away as well as a few hundred dollars which I kept on me at all times. I knew that I needed to hide my money while traveling in Venezuela and so, whilst in Colombia, I came up with a proper plan to conceal my money whilst traveling.

I decided to split my cash into several different secret places to hide money…

So, how should you carry cash when traveling ? First things first, let me run you through my top tips for keeping your cash safe in general and then I’ll introduce you to the best ways to hide your money when traveling…

Tip #1 – Split up your money

To avoid losing everything, split up your money into three locations. There are lots of places to hide money when traveling but if you just hide everything in one spot, you could really screw yourself over. I recommend having some money in a travel security belt and the rest in a couple of other concealed places on your body…

Tip #2 – On-body storage is best

Hide your cash on you when you are traveling. Try to avoid having your money hidden away in your backpack, whilst this will often be OK it only needs to go wrong once. A friend of mine had a thousand bucks stolen from his backpack, it sucked.

Tip #3 – Be ready with small bills

Try to avoid flashing your cash and instead be ready with small bills. 99% of the time, the world is a very safe place to travel in. You can get that percentage up to 99.9% if you are smart – don’t make it obvious that you are traveling with cash.

Tip #4 – Use a dummy wallet

If you are in a ‘shit I’m about to be mugged’ situation, it helps if you have something you can surrender willingly. Enter the dummy wallet – a pre-prepared wallet with just a few bucks in it and some old library, or other largely useless, cards. You can hand this over knowing that your money is safely hidden away.

I tend to travel with a dummy wallet, in which I keep small bills for day to day shenanigans and another proper wallet which rarely leaves my accommodation. I simply top up the dummy wallet as I go, this is also a fairly helpful tip for budget backpacking !

If you need to take more money out on the town, no worries, there are lots of ways to keep your money safe while travelling…  The best ways to stash your cash while travelling all have one thing in common – you should hide your money on your body.

There are a ton of travel security products out there which are absolutely god-damn useless. Travel money belts and security neck pouches are useful for keeping your passport and money together in airports but are NOT a good idea if you are travelling through a country like Venezuela, Mexico,or South Africa.

Travel money belts are a step up from carrying all your money in a wallet as it’s not as easy to pickpocket a travel money belt. Unfortunately, travel money belts are super obvious to the trained eye which means that if a thief tries for a proper mugging, your hidden money will not remain hidden for long.

I hasten to add – the world really is a safe place, it just makes sense to properly hide your money when travelling. Most of the time, thieves will only strike when they can see a target.

Luckily, there are some travel security options out there which are a lot more subtle than the average money belt. I recommend picking up a travel security belt – it’s the best way to carry cash when traveling. When I traveled through Venezuela, I had my money hidden in three places…

I’ve been using these security belts for over 7 years and they are hands down  the best way to hide money on your body. With it, just like me, you’ll be able to travel around the world,  stress-free. 

Over the years I’ve bought a ton of different types of belts and learned quickly most of them are cheap knockoffs. Frankly, most of them suck.

Which is exactly  why  I recommend a Security Belt.

This is the best way to conceal money. Period. Believe me, knowing that you have some spare money stashed in your belt is extremely satisfying, and will give you some much-deserved peace of mind. I’ve travelled with a lot of cash on me, through Iran, Pakistan, Colombia and all over South East Asia thanks to this belt. This travel security belt is my number one alternative to a traditional money belt.

I never travel without it.

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I sewed a bunch of hidden pockets into my trousers years ago and these are a great way to hide your passport and some money.

Remember, you want to split up your cash so that if one of your ways to hide money is discovered, you don’t lose everything. I think it is very unlikely that the security belt above would ever be discovered and the hidden pockets are also pretty damn sneaky – until someone pats you down.

If you are really paranoid, read on to check out this, broke backpacker friendly, way to conceal money while traveling. You can easily make these yourself or you can buy some ready-made pockets and just sew them in and they make a great place to hide money.

A few times now, I’ve taken my emergency money and placed it between two photographs of my family back home. I then laminate the two photos, back to back, with the money hidden in between. I do this a few times to create a photo album. This is a GREAT way to hide money in plain sight and is a truly secret way to conceal your cash…

A personal photo album is extremely unstealable and I figure that even if you were mugged, you could ask for the photo album back and be in with a pretty good chance of having your hidden cash handed straight back to you.

For all you ladies out there – perhaps this scarf with its hidden pocket is the best way for you to hide your money while traveling. The only problem is that scarves are pretty damn easy to lose so I’m not sure if it would be a safe place to hide cash.

The best ways to hide money while traveling are the ones that require the least amount of messing around – hide your money in a belt, or in a leg wallet (see below), and boom – job done, you don’t have to worry about it as it’s strapped to your body.

There are also some bra money belts on the market but, for obvious reasons, I haven’t tested these. Still, a hidden wallet in a scarf might be a good option for hiding a small amount of money on a night out.

If you’re looking for more nifty ways to stash your cash on the road, check out these options…

If you are carrying large amounts of cash then an undercover leg wallet is a good way to conceal your travel money. The undercover leg wallet is the best body wallet I’ve come across so far and a decent way to hide money while travelling.

If you are patted down though, I reckon there is a 50% chance that it will be noticed. The other problem is, and I speak from experience, that they get pretty uncomfortable – especially if you are somewhere hot. Prepare for a mighty sweaty leg!

Now, you  could spend a fat chunk of $$$ on the WRONG present for someone. Wrong size hiking boots, wrong fit backpack, wrong shape sleeping bag… As any adventurer will tell you, gear is a personal choice.

So give the adventurer in your life the gift of convenience: buy them an REI Co-op gift card!  REI is The Broke Backpacker’s retailer of choice for ALL things outdoors, and an REI gift card is the perfect present you can buy from them. And then you won’t have to keep the receipt. 😉

Whilst wrist wallets for travel are a viable way for you to carry cash abroad they are not exactly subtle and even somebody with just one eye is likely to spot that you have something on your wrist.

Some wrist wallets are better than others, I met a girl in India who had made one herself from a large piece of leather and it basically looked like a bracelet but most of the options available to buy online are fairly obviously hidden wallets.

The whole point of a hidden wallet is that it’s a subtle place to hide your money. Wrist wallets are handy for runners or perhaps a night out but not really a viable solution to hiding large amounts of money while traveling. Still, the link below takes you to the best one I found…

Whilst I don’t use a money belt outside of airports, it is a popular way to hide money. There’s a lot of great money belts on the market so if you are going to get one then make sure it has RFID protection built-in. The best money belts for travelling are comfortable and crucially, not too fat.

The main advantage of money belts over the security belt, which is my first choice, is that you can keep your passport in there as well. When I’m catching a flight or crossing borders, I do often use my money belt as it’s the most accessible place to keep my passport, debit cards, hidden money and photos for visas.

However, I would not ever recommend wandering around streets, bars, museums or anywhere besides an airport or border crossing with your money belt on – if there is real crime in the area you are travelling than a money belt is only marginally better than a wallet as anybody who is determined to get your money will probably know where to look.

I’ve been using a security belt like this for years and it’s the most comfortable money belt I’ve used and crucially, it ain’t too fat.

You can also simply stash your cash in your shoes! An oldie but a goodie, backpackers have been hiding money in shoes since the dawn of time. The only problem is that your money may endure a bit of wear and tear and eventually end up stinking of feet. Still, even a foot scented dollar bill is perfectly acceptable currency in most parts of the world.

To our knowledge, there isn’t currently any footwear on the market with a secret stash flap under the soul. Not even the best backpacker shoes have thought of this yet!

Here me out here! I know what I’m talking about and I’ve tried this one myself! These days, many travellers travel with a re-usable water bottle with a proper shell – you know, a non-transparent one that you can’t see inside.

The trick is, to fill the water bottle with up, package your cash inside a tight, sealable zipper bag, and push it down to the bottom of the bottle. Of course, your water may taste a bit plasticy. This is not one I use for a day to day stashing but for special occasions such as bus rides and border crossings. Just keep your water bottle close to you at all times.

Why Should You Travel with a Water Bottle?

Whilst there’s a lot that we can do when it comes to traveling responsibly , reducing your plastic consumption is one of the easiest and most impactful things you can do. Don’t buy one-use water bottles, don’t take plastic shopping bags, and forget straws. All of this just ends up in landfill or in the ocean.

Travel insurance can really pull your ass out of the fire in a jam; it’s pulled my ass out of the fire no short number of times. I’ll tell you the same thing I tell every traveler: if you can’t afford travel insurance, then you shouldn’t be traveling.

ALWAYS sort out your backpacker insurance before your trip. There’s plenty to choose from in that department, but a good place to start is Safety Wing .

They offer month-to-month payments, no lock-in contracts, and require absolutely no itineraries: that’s the exact kind of insurance long-term travellers and digital nomads need.

SafetyWing is cheap, easy, and admin-free: just sign up lickety-split so you can get back to it!

Click the button below to learn more about SafetyWing’s setup or read our insider review for the full tasty scoop.

Still have some questions? No problem! We’ve listed and answered the most commonly asked questions below. Here’s what people usually want to know:

Is it best to travel with cash or card?

This always depends on the destination, but having an emergency cash stash is never a bad idea. Multiple credit cards are also recommended in case you lose one of them.

How can I travel with a lot of money?

Knowing how to hide your cash when travelling is essential. These are our favorite hiding places: – Security belt with hidden wallet – Hidden pockets – Undercover leg wallet

Should you travel with cash only?

Travelling around with loads of cash can be incredibly risky as it’s hard to hide, yet easy to steal. We recommend only keeping a few emergency notes and a bit of pocket money.

What is the safest way to travel with money?

If you’re travelling, make sure to reach out to your bank beforehand and ask about what to do in a credit card emergency. Blocking and unblocking a card can be a real pain in the butt, so be prepared.

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My Top Recommendation For Hiding Your Money When Traveling

There are lots of ways to carry cash when traveling, for me though the answer is pretty obvious. The travel security belt is the best way to carry cash when traveling. It’s simple – stick your money in there and forget about it, your hidden cash is literally around your waist so unless you lose your trousers you are all good.

The belt itself is not flashy and not steal-able and the zip is only visible if you flip it over, which you can’t really do whilst it’s in the belt loops.

Hands down, this travel belt wallet is the best way to hide cash when traveling.

I’m fairly confident that you could be kidnapped and strip-searched and your hidden money would still not be discovered. Remember though, always hedge your bets and split your money into a couple of places, just in case.

The safest option is to combine the travel security belt wallet with some hidden pockets or the concealed leg wallet.

Aiden Freeborn

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50 Comments

Before our trip to SE Asia i sewed pockets in the front of all my husband’s underwear. They were of stretchy material. I cut up an old pair and color cordinated. We brought a lot of cash and spent 4 months there. Worked great! Got wet from time to time but hey it dried.

I have the sports bras with pockets from Amazon. Love them!! Comfy, no irritation from items between the girls, no soggy money, good support. I’ve used them on a Caribbean cruise and a RunDisney race. Was able to stuff my credit card, ID, slim pill case, two goos, chap stick, tissues, and poncho down there with no chafing. Ladies, buy them now! Men, be jealous.

Firstly thanks Will Hatton for the article. Three main places on your body is correct for storing your cash. As devices go, the #1 device really is the #1 device. I’ve used the same security belt for over 25yrs and it works. My wife still hasn’t found it! True! The best place to store your largest denomination notes. Folded and interleaved along the length of the belt so there’s no discernable ‘thick’ section in the belt. #2 best thing is a sacrificial wallet. An old ‘actual’ wallet filled with smallest denomination notes and some expired ATM / Credit cards. You keep this wallet attached to the inside of your back pocket with a piece of strong string and a safety pin. A nice wallet itself can cost you quite a bit in your home currency so you don’t want to sacrifice a good one. You use this wallet when in public view. Pay for small things, give tips, etc. The string helps you to not lose it in taxis etc when you sit down or forget it when you put it down somewhere. If your wallet is demanded with a weapon, just had it over and un-clip it. They run. And you get away. They get a little cash and useless cards. You escape unharmed. The cash they got amounts to not much in your home currency. #3 Keep your intermediate notes that you MUST carry in your ‘good’ wallet. Keep also a copy of your passport identity page and visa, and some vital phone numbers. Put them in a secret compartment pocket inside your trousers / walking shorts and positioned between your upper leg and groin, in the cleft at the front of your body there. Not being rude. That’s the place that’s hard to pick-pocket and is usually not found except by pat-down professionals eg police – and even police can be corrupt thieves. I had to pay 500,000 Rp to Jakarta police some years ago because they demanded it and threatened harm to my wife’s family if I reported them. She is from that country, I’m not. The 500k Rp = about 60AUD at that time so I just let them have it. The laminated photo album seems a nice idea but results in another bulky item to carry around when you’re trying to save on luggage weight. If you must carry your passport, put it in ANOTHER secret container that protects it from being crushed or getting wet. Carry it close to your body under your shirt, between hip and chest. It is worth more than most of the money in your intermediate wallet! If your passport is lost, stolen or badly damaged, it is VERY expensive, difficult, painful and troublesome to try to replace it and your VISA in it, whilst in a Foreign country! The other most important thing is not a device but a strategy. Be organised and always vigilant. Be mindful of your location, time of day and those around you. Most thieves are opportunistic amateurs and full of fear. Don’t make yourself an easy target and don’t provide an opportunity. eg don’t pick a bad time and location for an ATM visit. If you suspect your being followed, suddenly get into a taxi and leave that location or go to a crowded place where opportunity to steal from you is low. ** Happy Travels **

Has anyone though of using the female TAMPON tube ?

The scarf tip is so nice! Thanks for this content! 🙂

after several years traveling. and loosing some money!as a woman I made a special security money belt for myself . i absolutely recomend the Waist one and hidden pockets. money will stick with your body! and you can easily go any where (WC..esp!) but i am still thinking a bout when swiming in the sea ! i used to put them in condoms and hide them in my bra :)). it works.

Hmmm, I don’t have a bra, but maybe I could stuff them down my cossies?

I often carry a lot of cash…….

I’m a transgender man. In our community it’s fairly common to “pack” something in one’s pants, usually a prosthetic or a sock, & imho it’s not an awful way to hide cash—you can search “ftm packing tips” for ways to keep it from falling out, keep it out of contact with your body, etc. Crafty sorts will sew pockets in & there are instructions online on how. However, if you’re already well endowed, hiding much cash in that area could cause you to look excited. Usually the rule of thumb for ftms without much going on down there is no more than two socks’ worth of bulk—and socks compress better than dollar bills.

The only time I’ve heard of someone noticing this is at gay bars and professional pat downs. So if you’re going somewhere where people might grab your crotch, it’s not secure. If you don’t sew in a pocket or sew a y-front closed it’s also very possible for it to fall out—usually when you’re running or jumping (at the gym, trying to catch a bus, etc).

Great Info I Been a Backpacker for 25+ years on and off 100+ countries – Used to use a belt but thats gone way of the dodo – best ways are still what you suggest above But this 3 place method – Up that to like 10 places – money gets nicked from Hotel rooms especilly some of the budget places i stayed world wide

Hide money – in wash Bag ( leave bag open with stuff in it ) some one looks doubt they nick old toothpaste Day sack – 2 places Main Backpack 2-3 places in shoes dirty socks are great place or bottom wash bag and also when walk around as mentioned small amounts in one pocket then rest in few other pockets or day sack – I even fold up a $100 bill hide in hat or camera case – behind phone if in a case then when get home you might even find a bonus $100 – Fake wallet and finished credit cards – been doing for 20 years nothing changed Also watch for Bag slashers – they fix a razor blade to a pencil and expertly can slash pockets and bags nick whats inside and you can be Unaware – be bag aware always –

No 1 way i found people get robbed wrong place wrong time _ avoid dark Parks (ie Quito) – dont buy drugs i met lats people got robbed doing that -(or careful if do i guess)

3 years non stop in latin america only theft was person entered room when asleep – i woke and as he climbed window got his shoe –

Me and my girlfriend are planning to travel next year and have all these tips to thinks about..makes me nervous when it comes to keeping things like money safe etc so these tips are really helpful! Thank you x

The belt looked like a good idea. Thanks. I just bought one.

Wow! Amazing post…

Read the book “Papillon”, and see where Papillon stashed his cash while on Devil’s Island! I won’t go into details, but that cash could NEVER get stolen!!!

Hey will, thanks for sharing this hacks buddy. Your tips will really help us to hide money perfectly. Keep posting this type of helpful post… 🙂

Security belt with a hidden wallet never heard before. Definitely try by myself.

Wow, your review absolutely starred on my history. Thank you so much for the complete guide, tips and tricks, hotel and route and more, and surely it’s beneficial for my next trip to India.

Cool and very creative ideas to hide money! Will keep these in mind for my next travel! Cheers

I have tried the money belt.

The problem I then came across was that after a while travelling in hot sticky countries the bills end up with permanent folds and sometimes a bit ragged on the edges. Putting them in a sealable pastic bag helped.

After that it can can very difficult to exchange the notes.

Your ideas are all great! I will try it soon. Thanks for posting!

Awesome! Do you recommend any tracker that can be attached to a wallet? Thanks.

I’ve not tried one personally so have no recommendation to offer I’m afraid, cool idea to find your cash though!

This is very useful for traveling alone!

For woman there are little pouches that clip onto the middle of your bra, they’re pretty small but great for something like a card.

Thank you for this write-up, it has really helped me. I will be setting off on a month-long trip to Mozambique, and will, unfortunately, be carrying a whole load of cash. Unfortunately, cards and ATM’s are far from plentiful if you go further North.

Carrying this cash was a major source of stress, but now that I have a plan I’m feeling a whole lot better about it. Thanks again!!

Pickpocketing is one of the oldest and most widespread crimes in the world. A skilled pickpocket can make off with just as much money as an armed robber, without much danger of confrontation or risk of being identified in a line-up. In most cases the thief was long gone by the time the victim realizes what has happened. The security belt is really cool, I’ve never seen that before. You cash is well hiding.

Tip #4 is your best tip and one I have used myself. Just make sure the dummy wallet contains some cash and preferably a fake card. There’s nothing worse than an angry thief.

It’s best to hide ALL your money on at least one area of your body rather than in a hotel room where a hotel worker may have access. I like the belt and wallet wrapped around the waste as those wallets can usually hold more money and you can hide them nicely under a shirt.

You’re brave travelling to Venezuela which has one of the highest murder rates in the world.

What a great post about such a useful subject. This should really assist people when traveling.

Cheers Sharon…

Everything on this list is a must-have,haha! Thank you for sharing them. One of my favorites is that scarf and the wrist it’s kinda stylish at the same time. Anyways, great post!

Priceless tips! Thanks for unveiling your secret weapon, the security belt with a wallet is genius! I used to be too careless about my money until I was first robbed. That was a real bummer. But it taught me to be cautious and since then, I always split money while travelling. I’m going to try out your tricks during my next travel. A dummy wallet is a very good point.

Emergency cash hidden in a secret pocket in pants is great but just remember it’s there when you send your washing out. I made this mistake but luckily it was all returned by the honest and laughing laundry people.

Wow, some great advice. This is always my biggest stress when traveling, particularly in more rural areas where the next ATM could end up being days away.

The belt looks really great. definitely going to invest in one of those. You know if there are any leather alternatives, I love a brown leather belt?

Good post. Keep writing.

Wow! Really interesting. I love your all fantastic idea! I usually hide most of my money in my underwear and some often in the little pocket in my workout pants. I think it is safe and comfortable.

the inseams of clothes. behind the belt. on the bottom of your pants… even shirt collars. you just cut a whole and insert. traveld vz twice this year. never discovered. I’m going to make a custom belt in colombia.

Until now, I didn’t try anything of these great hacks to hide money on the body.

I want to know if i can use tbc coin to pay for my ticket

Send me BTC and I’ll send you whatever ticket you want mate.

Looking at that first pic and thinking, how do you hide such a pile of Venezuelan Bolivars in your belt? LOL.

Wow! I love the fake wallet idea! I´m heading to South America very soon, and it would probably be a good idea to have a fake wallet there. I normally hide most of my money in my sports bra and some often in the little pocket in my workout pants (they’re good to have when it´s hot outside too). But I will definitely take these advices with me on future travels, so thanks!

Will, that first picture of you holding a pile of notes and $100, you carried them all while walking around!? That’s a huge pile. I wouldn’t think its possible.

The dummy wallet is genius; I am definitely using this insurance technique. I used to use a money belt but like you say, its just a step higher than a wallet.

Yeah man – you get SO MANY notes for the USD that you will end carrying a pillowcase of cash around; that’s what I was doing – just hide it well! 🙂

I like the wrist wallet idea.

And the scarf is ultra ninja.

We made a leather belt with a small hidden pocket in the lining but you can’t get a lot into it.

I might look into making the wrist wallet out of leather, make it look like a bracelet.

Thanks for the ideas.

Nice one Will!

I’ve used a variety of methods, I even used to have a sort of arm wallet, but I would use that for clubbing, back in the day ‘cos it was far up my arm not to lose and trendy enough to still look good…!

My favourite method is the moneybelt which I used during my Gapyear. I just wore it under my jeans, and for extra security, pinned it on using safety pins. Very handy for those dodgy rooms where you know for a fact that you can’t leave your passport there..I’ve also been known to stuff some money down my sock.

I have big feet, so that usually works quite well!

I already use some of these tips, but I’ll certainly try other ones. Anyway, most of the times I prefer to use a credit or bank card. Thank you!

I used to buy a book like dictionary to hide my money or in the shoes, It doesn’t save up much but it’s something will let me catch a taxi. Thanks for great guide to show me more ways to save my money when bad things happen 🙂

These tips are simply awesome! I will definitely try some of them on my next travels! Thanks!

Always like the shoe idea! Also, for the fake wallet one. A good amount of money to have in those is about 10-30 dollars (at least in the US) so that it’s enough money for the criminal to be satisfied with you but you aren’t losing a ton of money if you’re robbed either.

Wow, Will! You have come up with so many creative methods. I never would have thought of most of these, so my hat’s off to the inventors.

Love that shoe full of hundreds illustration. 🙂

Haha how cool you are the first other person i heared about with a fake wallet. I do this for yeares and still people are suprised about something so simple. And i was really happy to have some hidden money in my backpack when someone stole my onbody money in a train in China.

Wow! Great ways to hide your money on your body! I haven’t tried any of these. I normally keep all my money, cards and all the other important documents together in a wallet, but I really like the idea of a dummy wallet. I think it’s a smart thing to do while traveling.

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The Ultimate Guide To Traveling with Money

Last Updated: July 14, 2023

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There are lots of different ways to spend money these days, but international travel throws in a whole new level of complications.

On top of managing your money, there’s transaction fees to think about, currency exchange rates, and security too.

In this guide, I’m going to outline all the best ways to travel with money, securely and safely and without losing your shirt in fees.

Table of Contents

Chapter 1: The Best Ways to Carry Cash Safely While Traveling

Chapter 2: how to use atms abroad safely to access your cash.

Chapter 3: How to Use Your Debit Card Safely On The Road

Chapter 4: How to Save Money By Traveling With Credit Cards

Chapter 5: How Many Debit and Credit Cards To Carry While Traveling

Chapter 6: How to Use Prepaid Travel Cards if You Don’t Want a Credit Card

Chapter 7: The Skinny on Travelers Cheques

Cash can be quite useful – and in some cases downright necessary – while traveling.

Despite my personal preference for using a credit card whenever I can, I’ve been to places where cash is the only currency; be it a marketplace, restaurant, or entire city or country.

But cash is also the easiest form of tender to lose or be bereft of, on levels ranging from petty to devastating.

In this chapter, you’ll learn my favorite ways to carry cash safely while you travel.

Don’t Access Your Wallet In Public

If you’re in a busy marketplace and enjoying some shopping and the art of haggling, constantly whipping out your wallet is asking for trouble.

Instead, keep some spending cash loose and separate from your wallet.

Not only is it a form of budgeting, allowing you to pre-determine how much you’d like to spend and keeping only that amount easily accessible, but it also limits your liability for theft or loss.

On a similar note, don’t keep your wallet too easily accessible. The easier it is for you to access, the easier it is for a pickpocket to access.

Diversify Your Cash

Keep some in a wallet, some in a zippered pocket, some in a shoe, and some behind in your luggage (in an unlikely place like your toiletry kit or even in a dirty sock).

That way if one stash goes missing, you haven’t lost everything.

Not only should you diversify where you carry your cash on your person, but if you’re traveling with a partner, share the load and diversify your cash between you.

Use a Money Belt (Or Hidden Pouches )

I’m not a huge fan of money belts, but I must say I’ve had a few that work better than others. In general, having a hot sweaty pouch next to my skin on travel days is uncomfortable and annoyi ng (which may at least partially explain why I vastly prefer not to use cash, ever).

That said, there are many different kinds of hidden pouches that can be worn in various places around the body.

Keep Some Cash In Sneaky Spots

Most opportunistic thieves won’t delve so far down as to sift through your dirty laundry to see if you have some cash stashed in there. Thus, it’s a pretty good hiding place.

Another popular hiding spot for women is an emptied out tampon tube. Keep it in your pack of tampons (back in its wrapper), and an opportunistic thief isn’t likely to sift through each tampon.

Carry A Decoy Wallet

If you’re particularly nervous for your safety or are in a location rife with pickpockets, you might want to use a decoy wallet, which has a bit of cash and a bunch of fake cards that you can afford to lose should you be required to part with your wallet.

Warning: you may not want to use expired credit cards for your decoy wallet though, since it is still sensitive information you don’t want to part with. 

There are a few tricks to using ATMs abroad; if you don’t employ them, you might not be able to access your money while you travel.

This came to my attention when a reader hadn’t anticipated the limited access to accounts that foreign ATMs provide, and found herself without money when she needed it. It was a perfect storm of simple complications.

Here are the lessons she learned (and a few more) about using ATMs abroad, which if you heed this advice, you won’t have to learn the hard way.

Don’t Forget That Account Information And Transactions Aren’t Available On Foreign ATMs

At home, you can use the ATM to see your account information, transfer money from one account to another (such as from savings to chequing), and perform other account administration tasks.

When using ATMs abroad, this isn’t usually possible. At best you can view your balance (but not always), and make withdrawals.

Know Which Accounts Are Which

Before you go away, know which of your account numbers are linked to “chequing”, “savings”, and “other” on your ATM card.

You can normally set this at your bank before you leave. (For example, I have my main account as “chequing”, and a line of credit as my “other” account).

Sometimes in a foreign country, you can’t see the labels on the accounts, or you might not understand the language. It’s best to know your account numbers and which are which.

Get Online Banking

Access to online banking can get you out of many a pickle on the road. You can transfer money between accounts, pay bills, create travel alerts, and monitor transactions. It’s also a security measure so you can keep an eye on your accounts to ensure there’s no fraudulent activity.

My reader who was stranded abroad hadn’t set up online banking before traveling, and thus had no way of accessing the money in her savings account, which wasn’t connected to her ATM card. She had to ask somebody at home to transfer the money from her savings to her chequing account so she could make a withdrawal.

Make Sure It’s A Chip Card

It’s now the norm for both debit and credit cards to have chips and PINs. Make sure your debit card is armed with a chip, otherwise you may not be able to use some ATMs abroad at all.

Switch To A 4-Digit PIN

Many ATMs and debit machines abroad only accept 4 digit PIN numbers, so if your bank uses 5 digit PINs, make sure you switch before you depart. You can do this at your home branch, and often at home ATMs too.

If All Else Fails, Pay Your Credit Card Off

I highly discourage readers from making cash advances with their credit cards, since interest is charged on the total balance from the date of withdrawal (whereas normal credit card charges have a grace period of about a month).

But sometimes, bank cards just won’t work, and you’ll have to use your credit card to get cash.

If this happens to you, you’d do well to pay off your entire credit card balance plus the amount you wish to withdraw before you visit the ATM . This will save you from being charged hefty interest. If you can’t do this, then as soon as you can after making the ATM withdrawal, go online and pay off your entire credit card balance.

Know Your Bank’s Phone Number

If you run into problems with your bank card abroad, have your bank’s phone number handy, and register for telephone banking before you leave. It’s an alternate way to sort out account issues if you don’t have online access for whatever reason.

Registering for telephone banking is easy; simply call the banking line with your ATM card handy, and follow the prompts to set up your account and special telephone banking PIN. Telephone banking is not just for automated banking either; depending on your bank, you may need to go through this system to get to an operator who can help you.  

When I was in Bali, I tried to make an ATM withdrawal at multiple ATMs without success. Luckily I had my bank’s phone number (and telephone banking PIN) on hand; when I called in, I learned that the system had flagged the ATM withdrawal as potentially fraudulent and had frozen my account. Once I confirmed that indeed it was me, they opened my account again and I could make a withdrawal right away.  

Check The ATM Network Logos On Your Card

On the back of your bank card is likely a series of logos, including (hopefully) at least one of Plus, Interac, Maestro, or Cirrus, which are the most common networks around the world.

You will only be able to use ATMs abroad that display one of these logos that matches your card.

Back Up Your Information

On my trusty USB stick , I have encrypted pictures of my bank card, records of the account number on the front of my card, and my bank’s phone number in case I lose the card or need assistance.

In the spirit of redundancy (which, when you travel, isn’t really something you can overdo), I also have encrypted copies of ID and bank cards etc in my 1Password account. I can seamlessly sync all this across devices – as well as to maintain super duper secure passwords!

When my purse was stolen in Peru, I was grateful for having my ATM card number written down elsewhere, because I needed it when I called my bank to report the theft.

Know Your Withdrawal Limits

Before you leave, know the daily and weekly withdrawal limits for your account (and set your preference accordingly).

When I was in Panama , I couldn’t understand why my ATM withdrawal requests were being declined; until I remembered that I had set a low withdrawal limit before I left to prevent undue thefts if my card got into the wrong hands.

Choose An Account With Low/No Withdrawal Fees

In Peru I was getting charged $5 for every cash withdrawal at a foreign ATM, and since credit cards aren’t widely accepted in Peru and cash is king, I was losing my shirt.

Then I went online and switched from a “value” (ie: no frills) account to a higher-echelon account that allowed unlimited free foreign ATM withdrawals. I need to maintain a certain balance to avoid the monthly charge, but it’s worthwhile.

Ask your bank about any special account-types they have that limit how much you’ll be paying abroad at ATMs.

Use Bank-Affiliated ATMs

Private ATMs in convenience stores or on street corners tend to charge extra commissions and service fees, and security can also be an issue. Instead, make sure you use ATMs that are affiliated with a bank, even if it’s not your bank.

Use ATMs During Banking Hours

If the ATM eats your card, it will be considerably easier to rectify if you can walk into the associated bank right away. Because of this, it’s ideal to not only use bank-affiliated ATMs, but ATMs that are actually inside or beside the bank itself.

Check For Skimmers

After watching this terrifying video of an ATM skimmer in Vienna, I’m vigilant not only about using ATMs that are affiliated with and ideally inside major banks with security personnel on site, but I also check the ATM itself for a skimmer machine. You can do this by jiggling the device that you insert your card into (if it falls off, it’s a fake), and make sure you cover your hand completely when you enter your PIN (some machines have cameras set up to record your ATM card number and catch you entering in your PIN).  

Chapter 3: Using Your Debit Card on the Road

Having a debit card means you can not only withdraw cash from ATMs around the world, but you can also pay directly for items with some vendors using direct debit.

But you’ve also got to navigate of ATM withdrawal fees (levied by both your bank and the ATM), hidden currency conversion charges, ATM accessibility options, and a myriad of security issues from having your card stolen and PIN swiped, to electronic and identity theft, to simply carrying too much cash and getting mugged.

In addition to all the ATM tips above, this chapter gives you some more info about using your debit card on the road – safely and without incurring undue fees.

Strategies to Use Your Debit Card Safely While Traveling

Limit Your Bank Account Balance

By limiting the amount of money you keep in your checking/savings account, there won’t be as much (or all) of your money there if someone steals your debit card and PIN number.

Only keep enough there to cover automatic payments (like bills or loan instalments) plus what you’d need to withdraw at an ATM one time. Keep the rest in a separate savings account not accessible through your ATM card, and do an online transfer when you need more.

Protect Your PIN Number

Stealing someone’s information isn’t always high tech.

Always be careful when entering your PIN number, whether at an ATM or at a store while making a direct debit payment. You never know when the person behind you in line – or even the cashier! – might be looking over your shoulder for your PIN.

All it takes is covering the entry pad with one hand while your other hand punches in your PIN. Easy!

Keep An Eye On Your Account

This is another reason why online banking is super handy for travelers.

If you keep an eye on your account, you’ll be able to catch fraudulent transactions sooner rather than later and alert your bank.

Fees to Be Aware of When Using Your Debit Card at an ATM

Your Home Bank’s Fees At The ATM

Your bank will probably charge you a fee each time you use a foreign ATM (unless you’re visiting a branch of your home bank).

As discussed earlier, you can often limit these fees by structuring your account to include free foreign ATM withdrawals. This may necessitate maintaining a minimum balance to eliminate monthly account fees.

Foreign ATM Fees

Many foreign ATMs charge an additional commission to use their machine. In most cases the ATM states the fee before you confirm the withdrawal.

You’ll stand the best chance of avoiding these fees by using major bank-affiliated ATMs.

Currency Conversion Fees At The ATM

Whenever you change money over from one currency to another, you’ll be incurring currency conversion fees, which are almost always hidden, and come off the top.

At an ATM, these are coming from your bank. You can find out what these fees are by reading the fine print in the terms and conditions of your bank account.

The good news is the bank is probably giving you a better deal than you can get at other places, but it’s still an additional fee to be aware of.

Fees When Paying For Purchases With Your Debit Card Directly

Instead of using an ATM, you could just pay with your debit card itself, but this might incur some of its own fees as well.

Withdrawal Fees

Depending on your bank and the type of account you have with them, they may or may not charge an additional fee when making purchases with your debit card while abroad.

This means you might be able to ask the vendor you’re purchasing from for additional cash back, and not have to pay the ATM withdrawal fees at all! Make sure you ask the vendor if they charge a fee though.

Currency Conversion Fees When Using Your Debit Card

Unfortunately there’s no avoiding this one. No matter what, when you change one currency into another, you’ll always have to pay someone something. Again, this fee will be charged by your bank, and will come off the top (and invisibly).

Personally, I prefer to charge everything I can to my credit card, since it provides me with records of my purchases, I get a decent conversion rate, there is a degree of theft protection, and (quite importantly) it’s a great tool for accumulating frequent flyer miles .

But credit cards are not always accepted, nor ideal, and there are a few pitfalls to beware of.

For example, cash advances should be avoided whenever possible, since interest is charged on your entire credit card balance from the day you withdraw the money (as opposed to regular charges, which afford you a grace period).

It’s also important to have the discipline and wherewithal to spend within your means, and pay off your credit card in full each month (something I manage online).

This is important, because if you don’t pay off your balance in full and on time you’ll be charged interest (not good), and ultimately it’s possible to work yourself into a financial pickle while traveling that could get ugly – especially if your credit card is your last resort.

As with so many financial matters, knowing the best option is mostly about knowing yourself.

Here’s a list of the pros and cons of using your credit card on the road.

Pros To Using Your Credit Card While Traveling

• You’ll have a detailed record of what you spent your money on.
• Currency conversion rates vary by card, but you usually find reasonable rates on credit cards.
• If your card is lost or stolen, you usually aren’t liable for the fraudulent purchases.
• You often get some travel insurance automatically for things like flight purchases and car rentals. (will link to insurance guide)
• Racking up frequent flyer miles is one of the most important secrets to my ability to fly in business class for less than the price of economy tickets .

Cons To Using Your Credit Card Abroad

Or at least things to be aware of…

• If you use your credit card at an ATM for a cash advance, be aware that interest is charged from the date you withdrew it. (You can void this by pre-paying your entire credit card balance plus your withdrawal amount before you make the withdrawal).
• While some credit cards have great currency conversion surcharges (and some even have no surcharges!), some are obscene. Make sure you do your research when you pick the card you want to travel with.
• Sometimes stores or merchants charge extra if you want to pay with a credit card, even as much as 10%.
• Don’t let your card out of your sight, and always get a receipt. In some less-than-reputable areas, merchants have been known to “double-swipe” your card or write down your card number for later.
• Sometimes merchants will offer to charge you in your home currency, but it’s not usually a good deal. A lot of times, they’re using higher conversion rates, and sometimes your bank will still charge you the foreign transaction fee (if applicable).
• Don’t use your credit card at a payphone for long-distance calls! I learned this one the hard way, trust me .

Alert Your Credit Card Company to Your Travels

It’s important to let your credit card company or bank know ahead of time that you’re going to be traveling. Many credit card companies allow you to do this online; if not, just give them a call.

If you don’t give them a heads up, and they start seeing purchases from abroad, they might freeze your card. It’s a security thing, to protect you in case someone stole your information; if this happens it can be rectified with a phone call, but can be frustrating when your card is declined.

Giving them a heads up with your itinerary before you leave will save you a lot of hassle later on. But beware: it’s not failsafe! Even with a travel alert on your account, your card may be frozen. This is why it’s good to have more than one way to pay for things (more on this later).

Don’t Have A Credit Card Yet? Apply Before You Travel

Before you quit your job to travel full-time or start your new location independent business, there’s one very important thing you should do:

Apply for any credit cards you’ll need for the road while your income is steady and stable!

A great travel strategy to ultimately subsidize your travels is to accumulate massive amounts of frequent flyer miles by strategically applying for credit cards, both before you start traveling as well as while you’re on the road.

But if your income has dropped significantly (or disappeared entirely) since you started traveling, most credit card companies aren’t going to beat a path to your door to offer you new cards.

In fact, you may find (as I did, a few years ago) that they will flat out decline you.

Career Changes and Income Drops

I was earning six figures when I decided to sell my financial planning practice to travel full-time. I also had a stellar credit rating all my life, so getting credit of any sort was always a walk in the park.

Fast forward a few years: I was up to my eyeballs in my freelance writing and travel blogging career . I wasn’t making a ton of money at it.

But it was also not a full-time endeavour, as I also volunteered in trade for my accommodation so my earnings didn’t have to be high. (Have a peek for yourself at what financially-sustainable travel can look like: here are my detailed annual income and expense reports over the years)

Self-Employed Net Income

Regardless of my ability to balance the books while traveling full-time (and even continue to save some money), my income had dropped significantly since my financial planning days.

Not only that, but because of the spectacular tax deductions I could make use of by virtue of my entire lifestyle being career-related(!) for tax purposes, my net income was practically non-existent. (See also: Filing Taxes as a Digital Nomad – Everything You Need to Know )

While this is a boon for any taxpayer, it’s not good for demonstrating income as far as the credit card companies are concerned.

So when I applied for a frequent flyer mile credit card carrying a hefty bonus, I was declined.

Declined? Fight It

If you are declined for a credit card, conventional wisdom says you can call the credit card company and ask them to reconsider their decision, often with positive results.

In my case I wasn’t successful, but I’ll also admit I probably didn’t try hard enough.

Why didn’t I try? Because I already had two lovely hand-picked reward miles credit cards that I had applied for before I sold my business and started traveling full-time ; I didn’t need the card I applied for – I simply wanted it for the frequent flyer mile bonus.

Give It Time

Even if you’ve been declined, nothing is forever. If I were to apply for a credit card now (a few years after the experience I described above), I’m pretty sure I would be accepted. I have a better demonstration of income, and I continue to maintain an excellent credit rating.

Renewing Credit Cards While Traveling

How do you receive renewal credit cards when you’re traveling? Will the credit card company even honour a renewal if they know you’re abroad?

Good news: I – and many other travelers – have renewed multiple credit cards while traveling, without issue. Here are a few tips:

Check Your Renewal Date Prior to Leaving / When You’re Back for a Visit

If your credit card is close to its renewal date while you’re still in town, call your credit card company. If it’s in a certain window (often 60-90 days) before renewal, they can often manually start the renewal process early so that you can receive your new card with a fresh expiry date before you leave.

If you’re just outside that window but don’t want to bother with getting a renewal credit card while traveling, they might be able to issue you a new card right away. The downside is that it will come with a new credit card number, so any automatic payments you charge to the card will need to be amended.

Option 1: While Traveling, See if They Can Send Your Renewal Card to You

If you’re already traveling, call your credit card company two to three months prior to renewal and advise them that you’re going to be abroad when the card renews. Ask them to send the new card to your address abroad (if you have an address that can easily receive international mail, that is). Sometimes they will, sometimes not.

Caution: once you receive your renewal card, contact the credit card company again and ensure that the address they sent the card to is deleted from their records (assuming you won’t be staying there for years). I once had a renewal card sent to Australia, no problemo. At the following renewal however, no card came to my (original) Canada address. When I called to inquire, they had sent it to Australia as well! (Unbeknownst to me, they had changed my address on file to the Australian address).

Option 2: Have the Card Sent to Your “Home” Address and Forwarded

Since the Australia debacle, I tend to use this option; I simply wait for my renewal credit card to be automatically sent to my “home” address in Canada ( thanks, Mum! ). She then forwards it to me wherever I am. If you don’t have a willing friend or family member to act as your “home” address, a Virtual Mailing Service will do the same.

How to Avoid Credit Card Cancellation

Did you know that your credit card company can cancel your card for any number of reasons, without notifying you? And if they don’t have a reason they have a clause for that too!

Don’t get caught on the road needing to use your credit card on the road and finding out – the hard way – that it has been cancelled out from under you. Trust me – it happened to me.

Credit cards need to be managed actively, from calling in and providing travel alerts so your card isn’t frozen on the fly when you use it in a foreign country, to watching transactions closely to fend off fraudulent activity, to using it regularly to avoid cancellation for non-use.

The most common reason for your company to cancel your credit card is non-use.

It’s also really easy to avoid:

Make sure you charge something to your card every few months, and then pay it off in full at the end of every month.

This is really important if you have a credit card reserved for emergencies that doesn’t regularly get used.

Thankfully, this can be totally automated! If you have a regular payment like a subscription service, put it on that card, and then set up auto-payment in full. You can usually do this through your online banking platform for the card.

Chapter 5: How Many Debit and Credit Cards to Carry While Traveling

Juggling debit and credit cards on the road can be tricky business.

One reader wrote in:

“I’m planning a RTW trip and am having trouble wrapping my head around how to manage finances while traveling. I’ve read several blogs on this but still have two questions: 1) Is it best to carry a minimum of two cards (eg a debit and a credit or two debits etc) from different financial institutions to abate risk? 2) Is it best to keep multiple cards separate at all times? Like one on you and one in your luggage? Or does it make more sense to keep them together at different times?”

How Many Debit and Credit Cards?

I prefer to carry multiple cards to abate risk, as you say. I always have (at least) two credit cards from different banks, and one debit card. This has been handy, as I’ve frequently had minor mishaps with either one of my credit cards, and needed the second card as a backup.

Although some travelers believe in carrying multiple debit cards, I don’t bother, largely because I do most of my banking online, and I limit financial risk by keeping my bank account balance at a minimum.

Credit Card Brand Diversification

Not only do I ensure that each of my credit cards has been issued by different banks, but I also diversify my credit cards by brand; for example, Mastercard, Visa, Amex.

e not widely accepted around the world, so it’s important to have at least one Mastercard or Visa – which are the two most widely accepted credit card brands.  Ironically, Amex tends to offer the best rewards cards for frequent flyer mile and rewards points collectors – but unfortunately it’s the least accepted card.

How/Where to Carry Them

The best way to carry any duplicate valuables is to separate them in case you’re bereaved of something; for example, I carry my external hard drive and laptop in separate bags, I carry cash in different places on my person and in my bags, and when I’m on the move I keep one of my credit cards stashed in my under-clothes pouch containing my trusty USB stick .

I’m pretty vigilant with this when I’m actively on the move and my bags are packed; but once I stay somewhere long enough to unpack, I tend to carry everything I need for the day in a purse or wallet.

I will admit however, that complacency bit me in the butt when I had my purse stolen in Cusco – with everything in it.

Luckily for me, I have backups of backups of backups of everything, so even losing my wallet with everything in it wasn’t catastrophic.

It’s almost impossible to hedge against all risks at all times. Generally, a nice balance of prudence and faith is the best we can do.

Chapter 6: Prepaid Travel Cards – An Alternative to Debit or Credit Cards While You Travel

Is your credit so bad that you don’t qualify for a credit card?

And/or, are you concerned about the security of having just a debit card with you, giving potential perpetrators access to all the cash in your bank account?

Or perhaps you’re worried about being subject to currency fluctuations while you’re traveling.

Prepaid travel cards present a solution to managing your money on the road if you don’t have a credit card, want fixed conversion rates, and are concerned about the security of your credit or debit card.

What are Prepaid Travel Cards?

Although they may act and look like credit cards (and many prepaid travel cards are issued by credit card companies themselves), they work on debit, not credit.

You load the card with money, then you can use it around the world at ATMs, debit machines, and anywhere you can use a credit card.

Thus your potential loss if you run into trouble (theft, etc) is never more than the value of the card.

These can be considered even more secure than using a debit or credit card because in addition to being protected by a PIN number, your prepaid travel card is not connected to your bank account in any way.

They can also be a handy way to budget. You plan your budget for a trip, load that exact amount onto the card, and you can’t spend any more than that.

Beware however: prepaid travel cards can come at a cost, with hefty fees for transactions, currency conversion, and more. I highly recommend reading the fine print for any prepaid travel card you are considering, and taking whatever measures necessary to reduce your exposure to those fees. 

If you are interested in prepaid travel cards, a simple search (for “prepaid travel cards + [your country]”) will reveal your options. Make sure you read the fine print to ensure it will suit your travel needs.

Chapter 7: The Skinny on Travelers Cheques in the Twenty-First Century

Although travelers cheques used to be the most common option for traveling with currency and getting the best exchange rates with the lowest fees, they no longer are.

In fact, using travelers cheques can be a big mistake.

Even when I lived and worked at a hostel in Hawaii back in 2008, we accepted travelers cheques the (very) few times they were offered, but begrudgingly so, as they entailed more work than reward.

What are Travelers Cheques?

Travelers Cheques are pre-printed, fixed amount checks that people used to commonly use instead of cash while they traveled.

They were sold by banks to customers to use at a later time. The customer would immediately sign them as soon as they got them. Later, when paying with them, they would sign again and could use them as currency if the signatures matched.

They also came with receipts and documentation so that they could be replaced if they were lost or stolen.

The Decline of Travelers Cheques

According to Wiki , travelers cheques have been going steadily out of favour since the 1990s, with alternatives like credit cards, debit cards, and ATMs becoming more common, convenient, and cost-effective.

They also pose security risks for retailers, who would rather fork out commissions to accept credit cards instead.

Nowadays, travelers cheques are difficult to cash, even at banks.

One reader emailed me once about her experience taking travelers cheques to Europe:

“I unfortunately traveled with travelers cheques from American Express in Euros. You’d think Euros were Euros but they are not. Have not been able to cash them despite going to 12 banks. And there is no Amex office…”

Security Issues with Travelers Cheques

Travelers cheques aren’t even all that secure for travelers either.

Originally, the attractive thing about them was being able to replace them if they were lost or stolen. This led to a black market where they were sold by scammers for half the amount, and then reported stolen.

This, of course, contributed to the decline of travelers cheques and a lot of businesses stopped accepting them.

The problem for travelers whose checks were actually stolen, was that the process of getting them replaced is ridiculously complicated, and a lot of people aren’t able to even get them replaced at all! (which is of course why they got them in the first place).

At one point in time, they were a viable alternative to carrying large amounts of cash.

But these days, your cash is best left in your bank account (or travel savings account), and accessed when you need it via credit card or debit card.

So that’s my ultimate guide to the best ways to travel with money.

What’s been your experience with any of these strategies? Do you have any other methods you use?

Let me know by leaving a comment below!

SEE ALSO: How to Drastically Cut Your Expenses so You Can Save Money to Travel

22 thoughts on “The Ultimate Guide To Traveling with Money”

This is a long one, a lot of good advice! Thanks!

Hey Rob, I hope you like the long format guide! I’m creating a few massive guides in the next few months that will clean up a plethora of smaller older posts on my site, and make the info that most people are asking for infinitely more accessible. 🙂

I like the new long format and I think it will be better for your readers though I wonder a couple of things. First, I am curious to know whether it will be better or worse for the business side of your blog (traffic, ranking, etc.). Second, I wonder if readers really will value it or not. Just because I do doesn’t mean I am typical. I have a few really long guides on my site and while they get traffic I always wonder how many people actually read them all. I suspect quite a lot maybe bookmark them for later reading, which never happens. Or they maybe start reading and get distracted and then never bother to finish.

Hi Jeff, Great concerns! Apparently prudent SEO practice now entails the publication of much longer articles. So putting together these long guides serves to help me clean up dozens of older posts (that don’t generally get much traffic), provide updated information, AND hopefully score some extra bonus points with Google.

As for the reading of long-form guides, I do agree with you in that at times I lose patience in dedicating myself to reading a full guide. But with the chapter breakdown at the beginning (which I have on my posts, and which many people who publish guides like these use), it’s easy enough to navigate to the parts I really want to read.

Thanks for the reply and good luck with the new approach. I know you don’t post much about the art of blogging, but after you have had sufficient time applying this new long format to other topics and can judge the impact it might be interesting to post a summary of how it turns out.

Yep! You’re absolutely right, Nora. Google now favours longer content. One of my clients is now asking me to write content that’s three times the length he used to want. Google says jump and everyone seems to ask how high.

Great article, by the way. I recently opened a Transferwise Borderless account because it appears to make things a lot cheaper with currency conversions. Every time you add a currency you get an account in a country that uses it. Then you just transfer between accounts. So far, I’m impressed, but I haven’t had it long enough to evaluate all the pros and cons.

Good deal on da wallet Nora. I always use credit in developed nations. But in cash-only, 3rd world nations, I do not flash da cash LOL. All about discretion. I rarely carry much cash on me either. I just eat ATM fees and travel light.

Ryan! Does your bank have a plan that allows you to have foreign ATM fees covered or reduced? That’s how I manage to avoid paying ridiculous withdrawal fees in cash-necessary countries.

Good information here. I first used a foreign ATM in 1995 in Paris. Now I rarely carry much cash for international travel. Instead I rely on credit cards for purchases, and ATM’s to replenish cash when necessary. The exchange rates for the cards has been much better than bank rates. You did not mention that anymore, ATM’s often offer the option of a fixed exchange rate at the time of transaction vs. the exchange rate your bank will give you. The optional fixed rates at the ATM’s I used last summer in Portugal charged 5 to 7 US cents more per Euro.

By “bank rates,” in the part reading ” The exchange rates for the cards has been much better than bank rates,” I was referring to the rate one gets changing a piece of currency at a bank, not the inter-bank rates typically used for credit or ATM transactions in my experience.

Hey Gary, I’m glad you clarified about the “bank rates”, because in my experience, inter-bank rates (the rate you get when withdrawing cash at an ATM with your debit card) are the lowest rates.

I’ve never had an option to pay an optional fixed currency conversion rate at an ATM….personally I’d be leery. PayPal and many credit card issuers do the same thing: you can pay a fixed (hidden) exchange rate and then the item is charge in your home currency, or you can pay whatever exchange rate is prevailing on the day the credit card posts the charge. In my experience charging in your home currency is not a good deal; they’re skimming extra in offering to convert for you!

And for the record, I do mention in the section called “Cons to Using Your Credit Card Abroad” that it’s generally a bad idea to allow the vendor to do the conversion for you and charge in your home currency.

I have seen the fixed rate offered at ATM’s in Portugal, Ireland and Mexico within the past 2 years. Those rates all turned out to be about 5% more expensive than the prevailing rate when the transaction was posted to my credit union account.

Wow – that’s fascinating! (And upsetting – ha ha) Between some ATMs charging extra commissions (Thailand is the worst I’ve encountered at almost $10 – and they ALL charge it), to now offering fixed exchange rates (at a premium), they’re certainly making sure they “get their piece of the pie”!

Thanks Nora. We have just started a 12 month sabbatical. I travelled for many years in the 1980s with cash and travellers cheques. Our first stop has been Bali. It did not take long to see how the fees added up at the ATMs using debit cards. I figured A$5 to use the ATM to get 1,000,000 Rps (A$100) plus the currency conversion fee it ended up being 7-8% per transaction. Fortunately the 28 Degree Credit Card has provided relief from this as has cash (but there’s only so much of that one can carry). The other thing I do is only keep small amounts on my debit cards e.g. A$1000. Every week I top up the debit card account from an online account that do not have a card for. This is working well for me. Thanks for an informative post for a traveller back on the road after 25 years. Mitch

Hey Mitch, Great strategy in limiting your debit card balance! But beware of changing money in Bali – Bali is renowned for their currency exchange scams. Kuta in particular was a complete horror show for me (which of course made a funny – and cautionary – tale): https://www.theprofessionalhobo.com/visiting-kuta-bali/

Nora you did it again. What a thorough guide! ?

Thank you, Dane!

A couple of notes here. I am a US ex-pat living in Hungary. Still, one of my credit cards does not have a chip in it. For those cards that do, most places around Europe no longer need you to sign a receipt when using a chip encoded credit card. In Hungary, you still do for now.

I have called my credit card companies about over-paying on my card in order to have an opportunity for a cash advance if needed. I was informed that even with a credit on the card, I would still be charged the same interest rate as any other cash advance. To solve this, I got a Charles Swab account. They reimburse all ATM fees at the end of each month.

Also, as an ex-pat, I had problems getting a pre-paid credit card even with superior credit ratings. Not living in the US or Canada sometimes has its drawbacks.

Hi Ryan, Thanks for the intel! There are a variety of countries (especially in Asia) that still require a signature even when they use the chip reader. I find it funny, since it usually means signing a receipt that says “no signature required”!

I don’t understand how you could possibly be charged interest on a non-existent credit card balance however…..assuming you have a $0 balance plus you overpay the amount you want to withdraw, the only charge I could imagine being possible is the withdrawal fee. Which, thankfully, you’ve now managed to sort out with your Charles Schwab account. yay!

And don’t feel too bad about the pre-paid travel card. They’re not typically that great a deal anyway 😉

Hi Nora – thanks for such an informative post. I keep coming back to your site again and again as my travel plans advance. This time it was to find the Soctiabank Passport Visa link so that I could apply and you’d get some credit/payment for it. 🙂

Thank you so much Sherry! I’m thrilled that you use my site and content as a resource to come back to. And even more thrilled that you got the Scotiabank Passport Visa! (Thank you so much for using my link). I hope you love it as much as I do! 🙂

Most of the people around me think that flashy hotels and expensive flights are the only way to travel and yet I use to holiday all the time and get comments like “I robbed a bank” or something. Thanks so much for sharing this, a couple of things I can look into to help me even further

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18 tips to help you manage your money while traveling

International travel is full of excitement. Seeing new places, trying new cuisines, and navigating a different culture lead to memories that last a lifetime.

As a college student or young professional, travel can be one of the most rewarding ways to spend your well-earned money.

But with all the excitement of traveling abroad, you can’t forget about managing your money. In addition to having the right currency and understanding foreign exchange rates, you’ll want to take measures to manage your money well while on the move.

While traveling doesn’t have to be more expensive than your day-to-day life, there are extra considerations to take to keep money safe while traveling.

What’s Ahead:

Before you leave

1. alert your bank and credit card company.

Alerting your bank and credit card company used to be a standard practice when traveling abroad — so “suspicious” charges in another country didn’t put a freeze on your accounts.

These days, however, banks are a little better at tracking fraud. But alerting your bank and credit card company still can’t hurt — especially if you’ve never traveled abroad with your card and want to make sure you don’t run into any issues with your account.

2. Look into your cards’ foreign transaction fees

Foreign transaction fees — tacked onto any purchase made outside of the U.S. — can add up fast when you’re traveling abroad. If you’re not sure if your card company charges foreign transaction fees, give them a call before your trip to find out. While you’re on the phone, ask if there are specific ATMs to use that will help you avoid extra fees.

If your cards do charge foreign transaction fees and you have enough time before your trip, you might want to consider getting a credit card that doesn’t charge them. If you plan to do more traveling abroad in the future, a card without foreign transaction fees will save you a lot of money over the years.

3. Save copies of important information

Before you leave, make sure you have access to all of your important bank and credit card information in case something happens and you lose your cards. Keep an accessible digital record of the following:

• Your bank’s phone number
• Your credit card company’s phone number
• Your credit and debit card numbers

It might be easiest to take photos of your cards and save them on your phone. The important thing is to be able to access your card numbers and contact your bank in case of an emergency.

4. Confirm or purchase travel insurance

If you have a travel credit card, chances are it comes with travel insurance benefits. These benefits can come in handy when things don’t work out as planned — like when your flight gets delayed or your rental car windshield cracks. You don’t want to be on the hook for added expenses, especially after working hard to plan a trip within your budget.

Look up the travel insurance benefits that come with your card so you know exactly what’s covered. If you don’t have a travel credit card — or your benefits don’t cover enough — consider buying travel insurance. You can compare policies online using sites like SquareMouth and Travelinsurance.com to find the best option for your trip.

5. Get some local currency

It’s always wise to have at least some local currency on hand before arriving at your destination. You never know when you’ll have unexpected card troubles and need cash when there’s no ATM or bank around. Bring at least enough cash to get you a couple of meals, a hotel room, and transportation to tide you over until you can access a bank or ATM.

And don’t wait until you get to the airport to get cash, or you’ll pay a fortune to exchange currencies. Instead, call your bank ahead of time to see if you can exchange your money there — you’ll usually get a much better deal.

6. Consider a prepaid travel debit card

If you don’t have a credit card without foreign transaction fees — or you’re worried about using your card abroad — you can always get a prepaid travel debit card to load up with cash before your trip.

These cards, while they can be costly, come with lots of perks — like fee-free transactions, 24/7 assistance, and no ATM withdrawal fees. But just like credit cards, the perks vary card-to-card — and the fees can add up — so weigh your options and do your research to pick the best card for your trip.

During your trip

7. know when to use card vs. cash.

It’s always wise to have several methods of payment while traveling abroad. Some businesses will prefer card over cash, while others may not accept a card at all.

For example, using a credit card at a local street market may not be possible — so you’ll probably want some cash on hand. And in some countries, it’s best to tip with cash rather than on your card.

Alternatively, businesses like hotels may prefer you pay with a card — and you may save money if your card doesn’t have foreign transaction fees. And depending on how you tend to spend and budget, using a card can help you categorize and analyze your spending more easily at the end of your trip.

8. Use points

Travel hacking — or using miles or points to pay for travel — has become more popular in recent years. And contrary to what you may think, you don’t need to spend a ton of time or effort to earn and make use of points.

Travel credit cards usually issue points or miles when you pay with the card, which add up over time to help you save big on flights or hotel stays. If you have a travel credit card, read the fine print to understand how to earn points and make the most of them while traveling. If you don’t have a travel credit card, pick one that maximizes benefits you’ll actually use, doesn’t clobber you with fees, and — to get you some rewards right off the bat — has an attractive sign-up bonus.

9. Avoid random ATMs

When withdrawing money in a foreign country, be smart about what ATMs you use. First of all, if your bank allows fee-free withdrawals at particular ATMs — or they have branches where you’re traveling — make sure to use those machines to save money on withdrawal fees.

Try to avoid independent ATMs — they’ll often have higher fees and lower security than bank ATMs. And don’t use any ATM in an area that feels unsafe. Use machines in public places, and check your surroundings before making a withdrawal.

10. Protect yourself from theft

A smart way to manage money while traveling is to not keep all your money in the same place. If your wallet gets lost or stolen while you’re out, you don’t want to risk losing all your cash.

If you withdraw more cash than you need to spend at once, keep the extra bills in your hotel safe. When you’re out, carry your cash securely in a money belt or tamper-proof wallet. You might even want to invest in an RFID-blocking wallet, which protects your cards from digital theft by radio-frequency identification skimmers.

11. Choose local currency when paying with a card

When you’re paying with your credit card in a foreign country, you may notice an option to select either your home currency or the local currency when checking out. It might not seem like a big deal in the moment, but you’ll save money by choosing the local currency.

Despite having a credit card without foreign transaction fees, you may still pay a fee — usually around 3% —for paying in your home currency. And though you may have to do a quick currency conversion to determine how much you’re spending, you can end up saving a lot of money with this one easy tip.

12. Understand tipping culture

In North America, it’s not just polite — it’s expected — to tip 15% or more in restaurants and for other services. But tipping culture isn’t the same across the globe, and in some countries, tipping is even considered rude.

In Europe, for example, you’ll often pay a 5-10% service charge that’s already tacked on to the bill. In Asia, however, tipping isn’t the norm (and in some countries, like Japan, can even be disrespectful). Do some research on tipping culture in the countries you’re visiting. Consult travel guides and tourism websites to find out what’s expected before you go.

13. Check your account regularly

When you’re spending a different currency than your own, it’s easy to spend more than you realize (I am definitely guilty of this ). And when you’re using a card — in any currency — it’s easy to overspend. Now that lots of restaurants and stores are now card-only, you might be spending more than you realize.

Make sure you check your account regularly to avoid overspending your budget. You don’t want to arrive home after your trip with a pile of credit card debt that you weren’t expecting to pay.

14. Bank securely while traveling

Banking securely will help you keep money safe while traveling. And since most of us bank online these days, it’s extra important.

First of all, make sure all of your devices are password-protected before you travel. Otherwise, if your computer or phone gets stolen — and you have your passwords saved automatically — someone could instantly gain access to your online accounts.

If you can help it, try to avoid using free public Wi-Fi, which could potentially put your information at risk. If you need to log into your bank accounts, make sure you’re using cellular data or a protected Wi-Fi network.

15. Don’t forget the exchange rate

No matter whether you’re paying with card or cash, keep the exchange rate in mind when you’re spending. It’s easy to lose sight of how much you’re actually spending — and think something is “cheap” when you’re really paying with a more expensive currency.

If you need to, you can use an app to convert currency prices before making a purchase. That way, you know exactly how much you’re spending each time you swipe your card.

After your trip

16. convert your leftover cash.

Unless you know you’ll be traveling again soon, try to spend any foreign currency before returning home. If you come back with foreign cash, you’ll have to exchange it back to U.S. dollars. Exchanging money twice — to a foreign currency and then back to U.S. dollars — will cost you a lot in fees.

If you do need to exchange currency back into U.S. dollars, you’ll want to return to the bank. That’s where you’ll find the best exchange rates and lower fees. Or better yet, if you have a friend who’s planning to visit the destination you just came from, see if they’ll buy your leftover currency for a reasonable, fee-free rate. You’ll both come out ahead.

17. Pay off your credit card

When you return from your trip — and before you start dreaming up the next one — make sure to pay off your credit card. If you used your card for most of your purchases abroad, you don’t want to let that hefty balance linger.

Make sure you pay off your credit card and any travel-related expenses as soon as you can so your trip doesn’t end up costing you more down the line.

18. Check on your accounts

On a similar note, make sure you check up on your accounts after returning home from your trip. Don’t let any unfamiliar charges go unnoticed — instead, if you see something suspicious, call your bank or credit card company right away to report the charges.

Next time you travel abroad, use these tips to help keep your money safe while traveling. When you take the time to make security a priority, you can travel with a lot less stress — and spend a lot more time having fun.

Featured image:  HappyTime19 /Shutterstock.com

About the author

Cassidy Horton

Cassidy is a personal finance writer with an MBA and a bachelor’s degree in public relations. She has published hundreds of finance articles online covering a range of topics for variety of publications, including Forbes, The Balance and Money Under 30.

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The Ultimate Guide To Getting Cash While Traveling

No matter where you travel in the world, you will most likely be paying for something with cash at some point.  Therefore, it’s very important to know how to get cash when you’re abroad, especially when the place you’re going to uses a different currency to yours.  

There are a few different ways you can do it, but some ways are better than others and you need to know the tricks to avoid paying extra fees that you really don’t need to pay for.

A lot of people think that exchanging cash at foreign exchange offices, whether at home or abroad, is the best or even only way to get cash, but it is actually one of the worst ways.  

The actual best strategy is to wait until you are in your destination and take out cash using local ATMs. This is because foreign exchange offices usually either have bad exchange rates or charge a high commission (it’s how they make their money, after all).

On this page, I will show you everything you need to know about getting cash while traveling and how to avoid paying for unnecessary fees.

*The following information mainly applies when you’re traveling to countries with different currencies.

1. Have a no-fee debit card

To get cash from any ATM, you will need a debit card.  Having the right debit card for foreign ATM withdrawals is extremely important as it can saving hundreds or even thousands of dollars a year on fees that you don’t need to pay!

Some of the things you should look for in a debit card for foreign ATM withdrawals while traveling include a chip & 4-digit number PIN and low or no foreign conversion fees & foreign ATM withdrawal fees.  

If your current bank offers a card like this for you, then great! But unfortunately, most banks don’t so you might have to look for a different one.  

I wrote a whole guide on the best debit cards you can get for traveling, including which banks offer them, which you can find here: Guide to the Best Debit Cards for Traveling .

2. Use ATMs to take out cash

The first thing you should do when you arrive in your destination is to take out some cash from an ATM because, unlike foreign exchange offices, the only fee they can charge you is a usage fee if you know how to avoid the others.  

And sometimes you can even avoid the usage fee if you’re lucky to find a partner ATM or a no-fee one!

Plan out your withdrawals and avoid taking out more cash than you will need (unless ATMs charge flat usage fees, in which case limiting the amount of times you use them is better than using them often).

The ATM will be your best friend as you travel.  However, foreign ATMs have sneaky ways of taking your money.  

Apart from the obvious way of charging you for using the ATM in the first place, they also take money from you by confusing you with different currencies and using a terrible exchange rate when you let them do the currency conversion during withdrawals.  

How do you avoid all of this?  There are a few ways…

3. Avoid ATM Usage Fees

While banks themselves will charge you for foreign ATM withdrawals if you don’t have a good debit card, the ATMs themselves will also charge you a fee if they don’t belong to your bank or their partner network.  The fee can range anywhere from a flat fee of $1-$10 to a percentage of your total withdrawal amount (usually between 2-5%).

To avoid paying for these fees, you should do your research ahead of time and find out which ATMs you will be able to withdraw money from for free, either because they are part of your bank’s partner network or because the ATM owner hasn’t imposed any such fees.  If you’re lucky, you’ll find an ATM that will let you withdraw cash for free.

However, most of the time you won’t be so lucky and you won’t be able to find any free ATMs.  In this case, you’ll have to figure out which ATMs charge the lowest fees. There is no easy way to do this unfortunately and every way you do it will take a little effort.  

One way is to spend some time searching online on internet forums or blog posts for information about the types of fees that each of the major banks in a country charges, but you won’t always get the most accurate information this way.

The only other way to do it is to test the ATMs of all the major banks in that country once you arrive and note down the fee that each bank charges.  Just put your card in, go through the withdrawal process, and when the ATM tells you how much the fee is, write it down and press cancel to avoid getting charged.  Compare all the banks and ATMs to figure out which ones have the lowest fees.

Once you know what the fees are, you’ll know which ATMs to avoid and which to look for.  If one ATM charges a flat fee and another charges a percentage fee, the best way to proceed is to use the flat-fee ATMs for large withdrawals and the percentage-fee ATMs for small ones.  

You may have to do a bit of math to figure out when the fee will be smaller if using a percentage-fee ATM, but it’s worth it if you’re serious about saving money.

4. Make sure you know the exchange rate

You should always do your research and know what the exchange rate to your home currency is before you arrive at your destination so you are prepared and you don’t get confused by all the different numbers.  

This is because when you are withdrawing cash from ATMs, some of them will have default withdrawal options that are way higher than what you need and if you don’t know what the exchange rate is, you may end up taking out more money than you expected. 

This happened to me the first time I visited Budapest, Hungary.  I arrived at the airport and went to take out cash from an ATM.  I naively assumed that the default options displayed to me were equivalent to the same options I get from my bank’s ATMs at home ($20, $40, $60, $80, $100, etc) and I didn’t have internet to check what the exchange rate was so I naively trusted the ATM and selected the middle option which was 150,000 HUF.  

This ended up being $500 instead of the $50 I was expecting.  I only realized my mistake when all the bills started coming out.  I only spent 2 days in Hungary so I was forced to exchange most of that before I continued onto my next destination.  

Lesson learned: always know what the exchange rate is and select “enter amount” if the ATM doesn’t give you any reasonable options to choose from.   

It also helps to have a currency conversion app on a travel-ready phone with a local prepaid SIM card that you can use to tell you the exchange rate in real-time if you didn’t do my research beforehand.  There is also a currency converter in each Destination Guide .

5. Never let the ATM do the conversion for you

ATMs make a lot of money on travelers that assume that the exchange rate that is offered by them is the official one and not simply one that the ATM owner can make up.  

The truth is that when you are asked if you accept the exchange rate that an ATM gives you, 99% of the time it is way worse than what you would get if you let your bank do the conversion for you instead, even if you have a debit card with a foreign currency conversion fee.

To avoid getting ripped off by the ATM, you should always choose to withdraw money in the local currency and not in your home currency because your bank will always have a better exchange rate than foreign ATMs.  ATMs have different ways of hiding their bad exchange rates so you have to pay extra attention when making a withdrawal. 

Some of the ways they word it (and the one you should select in bold ) include:

• “Continue with conversion” or “Continue without conversion”
• “Debit in your home currency” or “Debit in the local currency”
• “Let us convert the money for you — yes or no ”
• “Confirm an exchange rate — yes or no ”
• And many others…  Always pay attention and be aware!

6. Exchange money at currency exchange booths as a last resort

I personally rarely exchange money at these types of booths because most of them use bad exchange rates or charge high commission that should really not be legal.  

However, there may be times when you have no other option, either because there is no ATM nearby or because you have a lot of cash left in one currency that you need to get rid of anyways.  Therefore, it helps to know how to get the best deal when using them.

Here are some tips:

• Avoid currency exchange booths in airports, train/bus stations, and touristy areas.  They will have higher fees due to the higher traffic and prime real-estate.
• Avoid places that charge commission as it means they take money from you twice: once on the exchange rate and once on the commission.
• If you are trying to get the local currency, look at the “We Buy” rates and find the currency you’re trying to exchange for it.  That will be the rate you will get.  If you are trying to exchange the local currency that you have for another one, look for the currency you want in the “We Sell” rates.
• Avoid places that have a difference between buying and selling rates of more than 10% as it means they are really ripping you off.
• Compare multiple places, don’t just go for the first one you see.  Pick the one that has the best rates.
• Try to negotiate.  Show them what the actual exchange rate is with your phone and see if they’re willing to give you a better rate.

And that’s all you need to know!

Nobody likes to pay more than they need to for anything and the more we can save on unnecessary fees, the more we can use to spend on our trips!  It’s good to be aware of the different types of ways that foreign ATMs and currency exchange booths can squeeze extra money out of you so that you can be prepared to avoid them. 

If this guide helped you out, let me know in the comments below.  And if you want to learn about which travel accessories you should get for your trip, check out my Guide to the Top Travel Accessories .

About The Author

Hi there,  I’m Sebastian , founder and creator of Travel Done Simple. Since I turned 20, I have lived in 5 different countries and traveled to over 40 others! You can learn more about me on my  About page   and find me on social media.

Hi there, I’m Sebastian , founder and creator of Travel Done Simple. Since I turned 20, I have lived in 5 different countries and traveled to over 40 others! You can learn more about me on my About page   and find me on social media.

I’m Sebastian , the founder and creator of Travel Done Simple! I was born in Europe and raised in Canada, but I now consider myself to be a citizen of the world. When I’m not busy exploring new destinations, I’m here giving you the best travel tips so you can do the same! 

You can learn more about me on my About page and if it’s your first time on my site,  start here !

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Best ways to carry money while traveling

Carrying money on vacation is a balancing act between safety and utility. Making money difficult to access deters thieves, but when it comes time to pay for something, you still want to be able to get to it without stripping off clothes or playing hide-and-seek with a bag's hidden pockets. With that in mind, here are 10 tips for carrying money safely and elegantly when you travel.

Divide money in different places

Even if you disregard all other advice about carrying money, take this tip to heart: Whenever possible, divvy up your travel cash and even credit cards into multiple safe spots. If you've got all your money in one place, it only takes one time for a thief to totally wipe you out. You can even apply this idea when you're out and about by keeping some money attached to your person and some in a bag you carry. That way, if your bag gets lost or snatched, you'll still have enough to get to a police station or back to your hotel.

Favor on-body storage

Under-clothing storage accessories have come a long way since neck pouches and money belts came onto the scene. Though those classics are still in favor, newer options include bra stashes, as well as long johns, underwear, and undershirts with built-in pockets for safe storage. On-body storage accessories are particularly useful if you're sleeping somewhere that doesn't have a secure place for cash and other valuables. Note that on-body storage isn't a good wallet alternative, since fishing around under your clothes for money advertises where you're hiding the goods. And lest you think a fanny pack is a substitute for a money belt, realize that it can actually make you more vulnerable to thievery since it marks you as a tourist.

Keep small bills handy

Changing or withdrawing large amounts of money minimizes the fees you'll pay to get local currency, but it also means you'll be traveling with far more cash—and larger bills—than you'd have on you at home. We've already talked about the virtues of dividing your money, but it's also wise to make smaller denominations of currency easily accessible. That way, you won't pull out the local equivalent of a $100-dollar bill while attempting to buy a 30-cent souvenir. You also won't have to reach down into your jeans to get more money from an under-clothing money pouch. Make money preparation part of your morning routine: As you're packing your bag, make sure you've got a variety of small bills and coins at the ready for purchases such as food, souvenirs, and attraction entry fees. Squirrel away larger bills in your under-clothing money pouch, or tuck them into a secure part of your wallet or bag.

Carry an anti-theft bag

If garbage-bag commercials have taught us anything, it's that some bags are tougher than others. The same goes for travel purses, backpacks, and bags—some, designed specifically for travel, have features such as cut-proof, steel-cable-reinforced shoulder straps; slash-proof fabric; and locking zippers. Since elements like these slow down thieves, they can do a decent job deterring opportunistic pickpockets. Anti-theft bags are available online from Pacsafe, Travelon, Magellan's, and other retailers. Consider your purchase an investment that might save you some money.

Trim your wallet

Are you going to need your library card when you're 6,000 miles from your local branch? Probably not. Before you leave, take the time to go through your wallet and take out everything except the necessities (a universal credit card and a backup, an identification card, an insurance card, etc.). Not only will it help you travel lighter, but if your wallet does get lost or stolen, you'll have less to replace.

Use a dummy wallet

If you're traveling in a place known for pickpocketings or muggings, consider getting a cheap wallet that looks just real enough to keep in your pocket or bag. Pad the wallet with some small bills and make it look more real by slipping in one or two of those sample credit cards you get with offers in the mail. A dummy wallet can stop pickpockets before they get to your real wallet. And in the scary and unlikely case of an actual mugging, it also gives you something to throw and run, buying you time to escape with your safety and your actual wallet.

Buy a travel wallet

In addition to a dummy version, you might also consider a wallet that you reserve specifically for travel. There's one simple reason for this: If you're the type of person whose day-to-day wallet is packed with cards—gym memberships, pre-paid coffee cards, frequent-buyer punch cards, and the like—the pockets are likely to be stretched out when you minimize the contents for travel. By having a travel-only wallet, your cards will have snug pockets that they can't slip out of accidentally. As an added bonus, you won't have to unpack and repack your day-to-day wallet; you can simply transfer what you need for your trip to your travel version.

Adapt to the local money culture

Being prepared to pay your way on vacation means different things depending on where you are. In a cash economy, you'll need to make sure to have a variety of bills and coins on hand at all times, but your credit cards will likely just collect dust. However, in much of Europe and parts of Asia, where automation is common and chip-and-PIN credit-card technology is standard, having a compatible credit card will come in very handy, especially if you find yourself at an unattended gas station late at night or a train station after-hours. Also keep in mind that in some countries, U.S. dollars are an official or unofficial secondary currency, so it's wise to keep a few greenbacks at the ready.

Use money alternatives

In high-traffic settings such as metro stations and close quarters like bus lines, it's nice to be able to forgo cash or credit-card transactions totally and rely instead on a multi-use ticket or other cash alternative. If you're in a city where the public-transportation system offers multi-use cards (for instance, London's Oyster card or San Francisco's Clipper card) or where you can buy a bunch of tickets at once (like a "carnet" on the Paris metro, which gets you 10 single-ride tickets for one discounted price), then take advantage. You'll reduce your chances of losing your wallet simply by retrieving and stowing it fewer times.

Stow valuables securely

Sometimes the best way to carry money is to not carry it at all. Hotels' in-room safes are generally pretty secure, and if you've got an item (or a wad of cash) you're particularly nervous about, check to see if the hotel has a safe-deposit box behind the desk. If you do use a hotel lockbox of any sort though, remember to retrieve your items when you leave. In the rush to pack up and depart, out of sight can easily mean out of mind—until you're on your way to the airport. If you're a forgetful type, leave a colorful note on top of your suitcase.

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Traveling with Cash? Readers Answer Common Questions

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Are you unsure about how much money to carry when traveling?  We have got you covered, with answers to all of your questions about traveling with cash from our readers. You’ll also learn how to keep your cash and cards safe so you can enjoy your vacation!

Traveling with Cash

Table of contents.

Travel Fashion Girl help! A reader asks:

I’m traveling from the U.S. to London, and my fiancé and I are a little lost on what is best for carrying money. He wants to carry a couple thousand dollars to London and exchange when we get there. I, on the other hand, would rather carry a smaller amount, and then take out money from an ATM when we arrive in London. However, I know there are a lot of transaction and ATM fees that come with this option. Please advise on what would be best!

Any time you travel, you have a lot to plan for and think about. What to do about money during travel — such as when and where to take it out — can be confusing. It’s important to keep your cash safe without sacrificing convenience or costing too much in fees. We answer these questions about traveling with cash for you:

RFID Blocking Leather Wallet

Should I Take Out Money at My Bank Before I Travel?

Particularly if you’re traveling to a remote destination, you want to have at least some cash on hand. This is useful and handy in case your ATM or credit card isn’t working or you can only use cash.

For example, say an ATM machine is down at the airport, and you need to take a cab from the airport to your hotel. Having cash on hand will hold you over until you can use your card.

What’s the Best Way to Carry Money While Traveling?

Keeping your money safe is more of a precautionary measure than something you should be paranoid about. In almost nine years of full-time travel, I have only had something stolen once, and it was my fault because I left $500 in cash on the unlocked exterior pocket of my backpack. While most travelers enjoy their adventures without trouble, it’s still good to follow a few tips to  keep your money safe while traveling .

When carrying cash on you, don’t carry it in a pocket or in an open bag. I recommend using an anti-theft device. I’ve tried a lot over the years, and I’ve found two main anti-theft devices I like to use to protect my items.

The best way to carry cash when traveling is to use a money belt for cash and a bra stash to store credit cards and additional cash if needed. One reader says, “I wear a bra stash pocket with my ID and two credits cards, as well as extra local cash for emergencies. It makes me feel better and safer!”

Another reader says, “I wear a money belt on my butt across my hips and under my underwear. It sounds bulky, but it’s a lot cooler in the summer months!”

Read how to wear a money belt with a dress!

How Much Cash Should I Carry When I Travel?

While you want to take some cash with you to your destination, we and our readers recommend not taking too much.

One reader says, “I made the terrible mistake of listening to my boyfriend, against my better judgment, and someone stole $4,000 I had in cash.”

Another shares, “You don’t need to take that much cash unless you are going to really remote areas. I used credit cards everywhere we went. I usually take $500 to $700 max.”

If you’re headed to a popular destination, like a big European city, you may only need $100 or $200. However, you might want to take more cash if you’re headed to a rural or remote location.

During your travel, you should only carry enough cash in your wallet each day to cover that day’s expenses. Keep extra cash and credit cards in a secret money belt or bra stash.

Watch this video with anti-theft travel tips!

Should I Use Cash or Card When Traveling?

Most travelers like to have a mix of both, and there are benefits to both. There are plenty of credit and debit cards that either don’t charge international fees or charge minimal fees. One of the best is Charles Schwab, which doesn’t have any foreign transaction fees or ATM fees, no matter where you are in the world. With this debit card, you can get foreign currency at an airport ATM upon arrival! One reader says, “I have a Charles Schwab account, which lets me take local currency out of ATMs around the world and refunds any potential fees. It is the very best option for frequent travelers, and I recommend it to everyone.” Another reader adds, “Get a Charles Schwab account for travel only, and they will not charge ATM fees. Then use the ATM as you need to to get cash out.” Most destinations in Europe accept and prefer credit cards, too. If you don’t have a card like the Schwab one, you also likely will want to bring your ATM card so you can take out cash. Not all shops or restaurants will accept cards.

Read about how to avoid theft while traveling !

How Do I Get Money at My Destination?

There are a number of places where you can visit an ATM or bank to take out or exchange money . Exchange rates are typically best at your destination. Research ahead of time to see which ATMs are available at your destination airport and what their fees are.

ATMs at airports usually don’t have great exchange rates. Airport currency exchange booths are particularly notorious for offering bad exchange rates and are definitely not the best place to exchange foreign currency.

If you must use one of these, only exchange or take out a small amount of money. Then, use a bank or ATM at your earliest convenience. Once you’ve settled into your hotel, look for a nearby ATM machine or bank where you can withdraw the remainder of the money you need, and store it safely in your accommodation.

You also can contact your bank before your trip to ask for recommendations. They also can suggest banks and types of ATM machines that offer the best rates.

Traveling to a top destination like Paris or London? Check out my packing e-books !

How Do I Keep My Money Safe While Traveling?

The best way to travel with money and keep your cash safe is with anti-theft travel accessories . As mentioned above, we and our readers are fans of using money belts and bra stashes. Here are our favorites.

Compass Rose RFID Secret Bra Wallet

Best Bra Stash

Secret bra stashes have completely changed my travel safety strategy. I created my own version, the Compass Rose Secret Bra Wallet , to be soft and comfortable enough to wear even in the heat and humidity of Rome in the summer. This is the ONLY bra stash made with an extra long strap to fit DD+cup sizes and a range of bra band widths. PLUS, it’s also the only bra stash with RFID protection.

Fasten it to your bra strap, on your bra band under your arm or in between your bra cups, or attach it to your belt loop tucked into your pants. You can even attach it to some underwear styles, too. Tuck it in underneath your bra for extra security — that’s how I wear mine.

Follow these steps if you are pickpocketed when traveling abroad !

Venture 4th Travel Money Belt

Best Money Belt

While there are a variety of brands offering security accessories, our readers love the Ventu r e 4th money belt. It’s made with RFID protection and water-resistant ripstop nylon. It also offers a variety of neutral colors to blend in seamlessly underneath clothing instead of brights that can show through your tops.

Make sure you don’t wear the money belt outside of your clothing. It’s not a fanny pack, and it advertises to thieves exactly where to find your cash. Travel money belts are meant to be worn hidden under your clothing.

Here’s our list on the best money belts and anti-theft travel accessories!

Travelon Luggage Anti-Theft Cross-Body Bag

Best Anti-Theft Bag

It’s also best to travel with an anti-theft bag, which you can use to carry your other belongings. These anti-theft travel bags are specialized travel purses that have safety features like lockable zippers, slash-proof materials, and sturdy straps to prevent thieves from breaking in. We and our readers rave about Travelon for offering some of the best theft-proof bags.

While Travelon has a number of styles, we love the brand’s anti-theft cross body with two pockets. It has a slim design featuring slash-proof fabric, an adjustable, cut-proof shoulder strap, and zippers with a latch for extra security. It also comes with RFID blocking card slots.

You can also try one of the top  anti-theft travel bags !

Travelambo Rfid Blocking Passport Holder Wallet

Best Travel Wallet

It’s important to note that anti-theft products don’t replace your need to use a wallet. Keep enough money for the day in your wallet and use an anti-theft product such as a money belt or bra stash to store EXTRA cash and cards only .

We love this wallet because it offers RFID protection and has so many slots for easy organization. It’s slim but longer, so it can double as a clutch for a fancy evening out.

Find out how to wear a neck wallet while traveling!

What are your tips for traveling with cash? Share your comments below!

For more anti-theft travel tips, please read:

• Best Money Belts and Anti-theft Travel Accessories
• The Best Anti-theft Travel Bags for Women
• Best Passport Holder Will Protect Most Valuable Item
• How To Keep Your Passport Safe While Traveling

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How to best use cash while traveling abroad

We talk a lot about using cards here at TPG -- both credit cards that can earn valuable travel rewards and travel debit cards that can help you avoid foreign transaction fees . If you are paying the bill at a large five-star hotel, you will probably be able to pay by card.

But there are plenty of situations when traveling that using cash is unavoidable. Tipping a bartender, buying a drink from a corner shop or a meal at a small, rural family-run restaurant are all situations that may all need physical cash.

So here are some tips for using cash while traveling.

Wait until you reach your destination to exchange cash

You may have seen cash machines at airports offering cash in multiple currencies. Convenient, right? You will pay dearly for that convenience.

The machine will either impose fees for withdrawals in foreign currencies, or more likely give you an awful rate. Similarly, those currency exchange booths located conveniently airside at airports while you wait for your flight will also give below market rate for your cash.

You will usually receive a better rate if you wait until you arrive at your destination to physically exchange foreign currency for local currency.

Related: How to avoid hidden costs when traveling

Shop around

Like shopping around for souvenirs or duty-free alcohol, you might find slightly different rates for the same currency exchanges depending on the location or retailer. If you're in the arrivals hall of an airport and need to exchange cash to pay for a taxi into town and there are multiple currency exchange booths, it's worth spending a few minutes quickly comparing their rates. They may be very similar, but the difference between one booth offering even 1% higher can be worth checking — especially if you are exchanging a large amount.

Ensure you are comparing like-for-like -- one booth offering a surprisingly good rate might be slugging you with a large transaction fee while the other, slightly higher rate may be fee-free.

Related: Where's the cheapest duty free? We checked 50 airports to find out

Have enough, but not too much cash on you

Should you take enough cash with you for the whole trip and exchange it at the destination for the best rate? While this would avoid foreign cash machine fees, the more cash you are carrying with you, the greater the risk something could happen to it. I would not recommend a big night out on the town with $500 (or the local equivalent) in cash in your wallet. This isn't smart traveling. Using hotel safes can help to keep the money more secure.

You want to have enough money on you for what you need, but not so much that it becomes a liability. I would generally keep enough cash to last a couple of days of incidentals (that I cannot use my card for). I would not keep a week's cash in my pocket -- I don't need it all there and then, so don't want to risk something happening to it.

Be aware of cash machine fees

This is where it can get tricky. You may have a card that allows cash withdrawals abroad where your card issuer may not charge a cash withdrawal fee. It is critical to know if you will still be charged a fee by the cash machine operator itself. Most foreign cash machines will charge a fee for withdrawing cash. In Thailand, for example, you could be looking at a fee as much as $6 per withdrawal.

Some travel and debit card operators may waive/absorb this fee as part of its product offering, though many will pass this on to the cardholder.

The best way to check is in the fees and charges section of your card's terms and conditions. If there is wording along the lines of "we do not charge fees of our own, however, you may be charged a fee by the cash issuer", that means there could be a substantial fee each time you withdraw cash. If there is, this is likely to be a fixed fee per withdrawal, rather than based on the percentage of cash you withdraw. In this case, it may save to either bring cash in your home currency with you (to exchange at your destination) or make less frequent, larger withdrawals to reduce the fees you are paying.

Liquidate your coins

If you do end up with cash at the end of your trip, you can usually exchange it back or to another currency if you are traveling on to somewhere else. However, currency exchangers will usually not accept coins and deal in notes only. If you end up with a handful of foreign coins at the end of a trip, try and use them up -- it can be a good use to purchase a small souvenir or snack at an airport as you are leaving the country rather than getting home, not being able to use them and then they sit in a drawer forever.

Related: How to avoid the most elaborate travel scam I've ever seen

Try and use cards where you can

Though this guide is about using physical cash, it's worth noting that there are many benefits to using cards overseas where possible. It's worth asking at places like restaurants if you can pay by card, even if it isn't obvious if you can.

Cards are convenient -- you don't have to worry about exchange rates or the safety of carrying big wads of cash with you. You can avoid fees and maybe even earn rewards. Always select to pay in local currency if using a card to get a market rate. Choosing your home currency will give you a worse rate.

Related: What is dynamic currency conversion and why should you avoid It?

Bottom line

Cash can be a frustrating but necessary evil of traveling. At some destinations you can use cards instead but there are many places, especially in developing areas, where cash is still king. There are costs and complications involved which are part of traveling, but with these tips, you should be able to minimize them.

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Helpful Money Tips for International Travel

Written by Becca

Updated on April 26th, 2024

We cover how to bring and spend money when traveling internationally, if you should exchange money before leaving for a trip and the best way to exchange money when abroad.

This article may contain affiliate links. We earn a small commissions when you purchase via those links — and it's free for you. It's only us (Becca & Dan) working on this website, so we value your support! Read our privacy policy and learn more about us .

Table of contents

• Bring some fresh USD bills from home
• Get familiar with exchange rates!

Researching currency fluctuations

• Track foreign exchange rates over time
• Ask around in your network for foreign currency
• Get foreign currencies at your home bank
• You can withdraw local currency when you land in the airport or cross over land
• Exchange at a bank when you arrive
• Put an international travel advisory on your credit card account
• Getting the daily exchange rate on credit purchases while abroad
• Determine the extent of acceptance for different credit card companies
• Know your transaction fees on your travel credit card
• Using credit abroad and leaving tips
• Choose the local currency correctly and optimally
• Use a checking account that reimburses ATM fees, and start now
• Check out a travel pricing index for destinations abroad
• Calculate spending each day or week during a trip abroad
• Figure out your spending average for your trip budget
• Save foreign currency for future trips
• Ask around in your network to offer international money

Are you about to leave home for a trip somewhere cool abroad?

You’re probably thinking, “Oh, shoot. I forgot to figure out if I’m going to need to get cash in this foreign country. And how much cash should I travel with, internationally?” Let’s jump right in with the most important question:

How much cash should you travel with internationally?

There’s really no one-size-fits-all answer here because there are so many factors at play. First, consider where you are going. Some places might be a culture where cards are accepted everywhere. I traveled to Taiwan and Amsterdam , I don’t think I used cash once.

For other places like Medellin and Mexico City, I rarely used a card!

Now that you’ve accessed your primary payment method, you can ballpark how much you need for a few days. You shouldn’t take out all of your cash at once, because anything can happen. You can leave some in the hotel room and someone comes into your room and takes it. You can be pickpocketed . You never know!

One tip, is that if you know you need cash getting to your hotel from the Airport, bring that exact amount with you before you arrive. Airport taxi’s never claim they have change, and they’ll usually round up because “they don’t have change”.

You might not want to take out money frequently at ATMs because of the fee. Depending on how much it costs, consider that the fee is way less than losing a few days worth of cash. Also, some banks offer ATM reimbursement, even internationally. One of my checking accounts, Fidelity, offers this, and it’s never been a problem to get refunded the ATM fee.

Lastly, if you end up with a surplus of cash, don’t keep it all in one place. Keep some with you and distribute it throughout all of your luggage. Try to not stash it in the room where you are staying because you can forget it exists and leave without it. You can literally be leaving money on the table.

Have some USD with you

You should bring cash in USD (or your home currency) with you on your trip as backup currency in case you wind up with a malfunctioning credit card or ATM card.

Bring some fresh USD bills from home

I have always had some crisp USD twenties or fifties in my wallet when I left home for a trip.

Having this money has come in handy for exchanging upon arrival, ordering tourist visas upon arrival and sometimes, a national park entrance fee (charged in USD) here and there.

While living in NYC , I would go to a bank on my lunch break several days before leaving the country for an international trip and would stand in line at a bank. I’d request $200 or so worth of twenty-dollar bills, requesting super crisp ones for this purpose exactly.

I would have these with me, stashed away in a secret and unassuming part of my luggage, in case I needed to use them for exchanging, visas or other surprise expenses (this happened frequently in Africa).

Why do crisp USD bills matter when traveling abroad?

The reason for getting super crisp twenty-dollar bills is that local banks abroad don’t typically accept smaller denominations, and they certainly don’t like bills with writing, crinkling, folds, chunks missing, torn edges or faded writing.

I’ve experienced sometimes that banks will turn away bills that are less-than-perfect. This is something you want to get right the first time.

For visas on arrival (Zambia and Zimbabwe, to name two countries with this policy off the top of my head), you will also need cash, and such visas must be purchased with perfectly un-damaged bills.

Find out and track foreign international currency exchange rates

I personally think foreign exchange rates are fun and interesting.

Edit: I think it’s fascinating and worthy of keeping in an app in my phone for travel days.

Foreign currency exchange rates are like a gamble of their own, and I find exchange rates and fluctuations over time to be incredible.

Get familiar with exchange rates!

I first had to get familiar with foreign exchange rates when I lived and worked in Shanghai, China, from 2010 to 2012.

While working there, I was paid in US Dollars due to an agreement in past years with American staff hired from abroad.

I worked in China during the first year when the Chinese Yuan started slipping in its rate with the US Dollar, and this hurt my salary.

The Americans who worked at my school and I would race to the bank on Fridays after pay day to request conversions of our USD into Chinese Yuan for spending, as soon as possible.

The catch was that the rate would slip day by day. If we didn’t act fast, we’d lose our hard-earned money to the fluctuation. Some days we’d look at XE.com and admire small increases in the USD to Chinese Yuan, and other days we’d look in disgust at a small dip.

Nowadays, I look at exchange rates when I travel.

There are some places, like Hong Kong, that have currencies pegged to the USD. (Did you know that? Such a fun fact.)

This is interesting as well because, at any given point, you can go to Hong Kong and presume that the rate won’t have changed much (unless something totally unexpected happens).

I follow currency rates around the world so that I can think up places to go where my dollar will go further.

When I went to South Africa in summer 2016, I lucked out big time. The following is a story about how a foreign exchange rate can make you a king.

Somewhat fortunately for Americans, the South African Rand weakened a whole lot that year.

This caused our US Dollar to have almost two and a half times more buying power than only two years before for American travelers.

I was eating steak dinners and having South African wine for $25 and having cocktails at restaurants for $4. Had I gone in 2013, that steak dinner would’ve been $75 in my home currency, and the cocktail would’ve been $12, just like in NYC.

Right now, the same thing is happening in Argentina , a place where the economy affects the currency a whole bit.

When I went to Argentina , the exchange was approximately 14 Pesos to a USD, and now it is hard to even pin down how much the Argentine Peso is worth in Dollars because it fluctuates constantly. I recommend checking out Xe.com.

This means Americans have 5 times (more?) of the buying power we did four years ago.

Fun fact: traveling to Argentina will also get you steak dinners, wine and cocktails, so I definintely recommend it. :-)

Track foreign exchange rates over time

To track foreign exchange rates, use XE.com, which you can read about in our favorite apps for travelers article .

I also use the XE.com app for my phone. The mobile app is free, and you can choose nine of your favorite currencies to track against your home currency.

The rates update immediately, and you can also look into the charts that are available to show currency changes over time in one-day to ten-year intervals.

Get local currency for your international destination before you travel

There are several ways to get local currency before you leave for a trip abroad. I’m going to list a few ways that are my favorite hacks of getting international money before my flight.

Ask around in your network for foreign currency

First, you can always ask on Facebook if anyone in your friends network has the currency of where you are headed.

When I went to Portugal (or was it Spain?) in 2016, I posted on Facebook, “Does anyone have Euros they don’t need?”

I got several replies and met up with a friend who had leftover Euros from a previous trip.

I landed in Europe armed with Euros so that I didn’t have to get to an ATM so immediately. I like to land in a new destination abroad already armed with local currency, so that I can take an airport taxi into town or buy some snacks in case (worst case scenario) the ATMs reject my ATM card.

Get foreign currencies at your home bank

A second way to get local currency is to head to a bank and ask if they have Euros, Pesos, Yuan or Yen, etc., in stock.

For currencies that are rarer (Sri Lankan Rupees, Peruvian Soles, Vietnamese Dong… to name a few), your chances are a bit slimmer.

Sometimes, you can request these in advance from a bank and they can let you know how soon they can receive them for you to exchange before you leave.

If you’re going to, say, Guatemala, and you’re looking for Guatemalan Quetzales (the currency there), you could call your local bank branch a month before your flight leaves and ask if they can order the currency for you to pick up and trade.

You can withdraw local currency when you land in the airport or cross over land

The last few ways to get local currency of your destination happen when you land. Upon arrival, you can withdraw from an ATM with your ATM card in the airport.

When withdrawing from ATMs abroad, you will typically get charged a fee by the foreign bank (and maybe your bank as well).

To avoid this, you can use a bank that reimburses foreign ATM fees. I’ll get into this very soon.

Exchange at a bank when you arrive

Although I do not recommend doing this, as per the benefits of the methods mentioned above, you can also exchange your home currency for local currency at a bank when you land.

You may receive a less-than-optimal exchange rate.

If you’re going to be potentially exchanging money at banks abroad, make sure your bills are crisp, clean and undamaged!

Absolutely use a credit card whenever possible when you travel

If you have a credit card that waives all foreign transaction fees, then yes: you should use your credit card when you travel internationally with no hesitation.

Put an international travel advisory on your credit card account

One of my favorite things to do before I leave for a trip is to call my credit card company, talk to a human, and let them know which countries I’ll be in, so that they do not flag my purchases as fraud and block my usage.

It pays to take care of this beforehand so that you don’t have to deal with issues when you leave your country and may not have a way of making calls.

Nowadays, many credit card companies say, “You don’t have to call us to tell us about a travel advisory anymore!”

It seems credit card companies have gotten smarter, and the Internet knows so much about where you go that maybe by now it’s all linking up and they know when you left the country anywhere due to your Instagram (just an idea).

Getting the daily exchange rate on credit purchases while abroad

Spend money on your credit card while you’re on your international trip.

You’ll also get the conversion at the daily exchange rate when your purchase posts.

I use a travel credit card whenever I can, so that I can continue travel hacking and increase my points and miles. This lets me cash in for free flights further down the line when I have enough saved up!

I also find it helpful to review my purchases and spending in an app like the Chase app, so that I can see if there’s anything that was charged incorrectly, any foreign transaction fees I have to know about. Having an app on the go lets me assess my spending while I’m on the road.

Determine the extent of acceptance for different credit card companies

In my experience, Visa is most widely accepted worldwide.

American Express and Mastercard are accepted somewhat outside the US, but it is always best to have multiple credit cards.

Some stores or restaurants may turn away Visa, and if you have multiple types, you’ll have another option ready.

Even at home I’ve sometimes had my Mastercard rejected, while my Visa gets accepted. So, we definintely suggest having two credit cards with you for this reason.

Some businesses might also charge fees for using credit, or may have charge minimums.

Be prepared for these kinds of setbacks, and have cash ready as backup as well.

Know your transaction fees on your travel credit card

When using credit, ask in local businesses if there is an extra charge for a credit card transaction.

In several hostels and hotels in different parts of the world, I’ve experienced being quoted a 3% transaction fee for using a credit card; this is typical for small businesses, as they aim to offset the costs of using credit in their stores.

Sometimes I’ll change my mind and use cash, or sometimes I’ll go with the fee if it’s not turning out to be too hefty.

I have mostly seen this abroad when booking excursions or paying for a night in a hostel.

For this reason, it’s good to have a few hundred dollars worth of local currency with you if for some reason a place does not accept credit at all. An example of this would be a local guesthouse, a cash-only restaurant, a taxi you have to take when there’s no ride share service available or a bus booking.

Using credit abroad and leaving tips

One more consideration is the use of credit in cafes and restaurants internationally.

In some countries where credit cards are accepted, the tip is not included in your bill and can’t be added after the transaction.

If you want to leave tip on card, you have to remember to tell your server to add 10% or 15% (depending on local norms) as they are processing the transaction.

Choose the local currency correctly and optimally

In my experience, if you have a choice of USD or EUR, for example, when your credit card is in the reader, pick the foreign currency .

You will nearly always get a better deal.

I always avoid choosing US Dollars in these instances, and I’ve even done the math after making the mistake of picking USD that I had lost out.

Avoid foreign transaction fees at all costs

I haven’t been charged a foreign transaction fee in my lifetime, and you shouldn’t be being charged them, either.

For traveling, open a credit card account that has travel benefits like no foreign transaction fees.

We both use Chase Sapphire Reserve and we’ve now started using Wells Fargo Propel card as well.

Use a checking account that reimburses ATM fees, and start now

For ATM fees, as I mentioned above, I no longer get charged those, either.

Dan introduced me to an Investor Checking account with Charles Schwab that reimburses me for ATM fees every thirty days.

The Fidelity Cash Management account also has a system of automatically reimbursing the account holder for any ATM fee charged by foreign banking institutions while abroad or traveling.

With these types of accounts, I see reimbursements for these in the next month for any ATM fees charged to my card when I withdraw.

I recommend saving your ATM withdrawal receipts until you get refunded in the following month, just in case you need to call up the bank and ask about where your refunds are.

Budget your travel spending during an international trip

There are lots of ways to budget spending during your trip.

For one thing, there are lots of ways to save money while traveling and my favorite way is to check out what the typical cost of travel is for the place you’ll be going.

Check out a travel pricing index for destinations abroad

The Price of Travel Index is one of my favorite websites to peruse.

Did you know that Hanoi, Vietnam, ranks #1 for the lowest price of daily travel in Asia?

You can find out that type of data at this site.

We talk about our favorite affordable destinations for travel in this guide .

Calculate spending each day or week during a trip abroad

If I’m traveling for a while, I’ll stop and take some time to calculate how much I’ve spent so far.

I tally the price of my flight or flights (including any airline vouchers used), and then separately, I’ll tally the amounts of money I’ve withdrawn from ATMs, purchases made on credit card and any money spent on the trip before I left (price of foreign travel visas or related fees).

I usually do this for fun and for my own reference in a Google spreadsheet.

Looking for new proven ways to save money on flights and airfare? The easy solution is to sign up for Going , the leading way to find flight deals and mistake fares, directly to your inbox. Use HALFHALF20 to get 20% off!

Figure out your spending average for your trip budget

Based on how I want to calculate my daily spending average, I take these fees and divide by the number of days I’ve been on the road.

What’s interesting to see is how things like rental cars factor into your trip and blow out your daily average.

When Dan and I traveled around Ireland, the cost of our rental car for a week accounted for a giant portion of what we spent during the whole trip.

If you are on a tight budget, consider scrapping a rental car and going with public transport.

There are so many ways to save money during travel .

Figure out what to do with extra foreign currency after you return home

When your trip is ending, deciding what to do with your foreign currency is a valid thing to think about!

If you have only a little bit left, you can spend it at the airport on gifts for friends and family, or some delicious snacks for the flight or a souvenir you’ve been wanting.

Save foreign currency for future trips

If you have cash in a widely-used currency like the Euro (used as official currency in 23 countries!), consider saving your EUR for a future trip to any other country in the Euro-using destinations.

You can also save currency for your friends, if you know you have a friend who will be going to a particular destination within a few months!

If you travel somewhere where the USD is the official currency, like Ecuador, Panama or Cambodia… you’re in luck! You can go home with those dollars in your wallet and use them at home, if you’re American.

Of course, if you’re not American, save those USD bills for your next trip to the US. (And come say hi to us in NYC!)

Ask around in your network to offer international money

If you wind up with any foreign currency and you know you might not be going to that specific country for another few years, ask around in your network to determine if any friends or family are headed there soon and might want to buy it off you.

I’ve done some pretty funny street exchanges in giving away my Colombian Pesos or Indian Rupees in exchange for the equivalent in a Venmo payment.

To buy money or transfer money to others travelers, you can use Venmo (for US bank accounts only) or PayPal (used worldwide).

Don’t go over the limit for cash allowances on an international flight

Some people want to ask, “How much money can I travel with on an international flight?”

Know the rules: You usually can’t travel on an international flight with more than $10,000 (US Dollars). If you have that much money, you should probably put it in a bank, or have it invested…

In any case, most customs forms will ask if you’re traveling with more than $10K in USD upon landing. If yes, you will have to declare it. If you only have $9,999, then you should be fine.

In conclusion

Travel and money is a topic that has evolved tons for me since I started traveling. It has certainly been a trip of its own.

The first time I went abroad on my own was during my study abroad to Hong Kong in 2009.

Looking back, it’s incredible to see how much my process has changed.

I remember that my parents offered me travelers checks to bring. I remember saying, “What does a travelers check even do?” I haven’t heard the term ‘travelers check’ in the last decade, which goes to show how far travel and money has come.

In a time where we manage bank accounts and pay bills online and in a time where credit is so much more widely accepted all over the world, money management while traveling has changed quite a bit, for the better.

One of my favorite parts of traveling these days is the fact that I can use a good travel credit while abroad, and sometimes it’s even astonishing how widespread the use of credit cards is in major cities very far from home.

Looking for a new travel credit card? Consider the United Explorer card . We have this card! We like it because of the sign-up mileage bonus, Global Entry credit and no annual fee for the first year.

It’s also incredible how many places still use cash as king: Sri Lanka and Vietnam are just a few.

I also really enjoy updating my money strategies year by year; for example, even five years ago I was still using my ATM cards and paying hefty fees for ATM withdrawals in Ecuador, Bolivia and Guatemala.

Today (and thanks to money-sharing strategies and hacks with Dan) I’m getting reimbursed for those same fees.

In some of our most recent trips, we started seeing how contactless payments are spreading all over the world. In fact, the first time we used ApplePay and GooglePay regularly was in Taipei, Taiwan where no one even wanted us to slide our plastic credit card through a card reader!

What I am getting at with all of this is that you should be flexible. Some places may require you to use cash while other places are fine with you using your card. The process of travel is an evolution as more people open up to the idea of accepting digital payments.

I hope that this has helped you be more confident in your ability to travel and has answered all of your questions about money!

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Table of Contents

What to do before you go

What to do while you're abroad, what to do if theft happens to you.

An overseas adventure can be a lot of fun, but there are potential hazards that travelers should take into account when planning trips.

Beyond physical safety, your financial security can easily be jeopardized by scammers and thieves if you aren’t careful. Here are some tips and tricks for how to keep your money safe while traveling abroad.

1. Figure out the best plastic to pack

Familiarize yourself with your credit cards' travel-related perks and benefits. Some cards, for example, offer rental car insurance, trip cancellation insurance, lost luggage reimbursement, travel accident insurance and more. It's even better if your card is on a network with wide international acceptance (Visa or Mastercard), and if it doesn't charge foreign transaction fees.

You should also bring a debit card, in case you need to access cash. But check to see whether yours will reimburse you for ATM fees.

» Learn more: Credit card tips to take with you overseas

2. Order some currency for the country you're visiting

Speaking of cash, getting some in advance of your trip is a good idea. Not only will the exchange rate likely be better upfront, but it also will mean fewer visits to ATMs and other places where your debit or credit cards may be compromised — and therefore less risk of falling victim to scammers. Just be sure to keep your physical wallet secure, and consider carrying cash and credit cards separately so that you still have a method of payment in case you’re pickpocketed.

3. Buy a tamper-proof, RFID-blocking wallet

And speaking of pickpockets, many are experts at finagling physical wallets away from unsuspecting travelers, but these days they can also steal digital credit card information via radio-frequency identification skimmers. Protect against both kinds of theft with an RFID-blocking travel wallet that can be tucked into your waistband or under your shirt to ward off sticky fingers.

4. Inform your bank/card issuer of your itinerary

If your bank/issuer doesn’t know that you’re traveling outside the country, it may freeze your account and apply a fraud alert when it sees foreign transactions. By letting your bank/issuer know your travel plans, you ensure you'll be able to use your card freely. And you can still be alerted if your card information is used outside of your planned destination.

5. Set up account alerts you can easily access

You might not have cell service when traveling overseas, but a Wi-Fi connection will allow you to receive emails or push notifications from your bank/issuer about account activity. They can help you know if your card or account has been compromised.

» Learn more: 10 ways to minimize mix-ups on your first trip abroad

6. Photocopy necessary documents, write down bank contact info

If your physical wallet is stolen, you’ll want to have backup copies of your passport and have access to bank contact information so that you can cancel any compromised cards.

7. Think about getting travel insurance

If you're not already covered by your primary health insurance or your credit card's insurance-related perks, you might want to consider travel insurance. The right policy can protect you from the financial loss of misplaced luggage, travel delays, medical emergencies and more.

1. Be vigilant about pickpockets

Crowded places are a thief's playground. Be wary of where you keep your wallet, and watch out for people who bump into you, as they may be trying to swipe it. Better yet, avoid carrying your wallet at all if you can.

2. Use your hotel room's safe

Ideally, your hotel room will have a safe in which to store important documents (like your passport), as well as some extra cash and a spare credit card — or some payment form that you don’t have to carry on your person while exploring your destination. If your hotel lacks this option, a lockable suitcase could work, although a locked bag is much easier to carry out of a hotel room than a safe is. Or, ask if your hotel has a safe in the office and allows guests to store items there.

3. Look out for malicious technology, like skimmers

If an ATM or merchant point-of-sale device looks sketchy, you may want to avoid using it. A credit card skimmer, a device that thieves can attach to point-of-sale terminals, can quickly copy your credit card’s information, which can then be sold to others or used to make fraudulent purchases. The devices often are hard to spot because they look like regular magnetic stripe swipers.

» Learn more: How to prevent credit card fraud

4. Be aware of common scams at your destination

Unscrupulous taxi drivers with "broken meters," “friendly” locals who want to show you how to use ATMs, and elaborate ploys performed by street vendors and beggars can trick you out of your money. Research common problems before you go, as scams like these can happen the moment you leave the airport.

5. Be careful about which Wi-Fi networks you use

Entering bank usernames and passwords on your laptop or smartphone while on a public Wi-Fi network can leave you susceptible to fraud and theft. Only use private, secure Wi-Fi networks to check banking or credit card information while abroad.

1. Report card theft to your bank or issuer

If you've lost a wad of cash, you're probably out of luck. But if your debit or credit card has been compromised, your bank/issuer should be able to cancel the card, ideally before the thief does too much damage. Remember that fraud protections for credit cards are generally more robust than they are for debit cards. (With the latter, it's your own money at risk, not the bank's.)

2. Report illegal behavior to local authorities

A police report is often necessary if you later file for identity theft relief or have to dispute false information on your credit report. The local police can also benefit from having information about criminals in the area.

3. Use your backup credit card and/or cash

Ideally, you’ve kept a spare credit card or cash squirreled away from the rest of your wallet. If so, it can help tide you over for the remainder of the trip, or at least until you can receive a new card or get to a bank to withdraw more funds.

4. Keep tabs on your credit report

Even after you’ve closed your compromised credit cards, you’ll want to make sure scammers haven’t somehow managed to open anything new in your name and that you don't have unpaid fraudulent charges racking up interest and late payment fees. If you see something that looks odd on your report, be sure to dispute it with the major credit bureaus. You'll also want to ensure that you've updated any autopay accounts that require a new card number, so that you don't miss an important recurring payment.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

on Chase's website

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

75,000 Earn 75,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's over $900 when you redeem through Chase Travel℠.

1.5%-5% Enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

Up to $300 Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

on Capital One's website

2x-5x Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options.

75,000 Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.

Find the right credit card for you.

Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

• GENERAL TRAVEL

Should You Use Cash or Credit Card When Traveling?

Julie fell in love with traveling in Costa Rica which led to years of volunteering, teaching, and...

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Traveling to a new place can be exhilarating, but also intimidating. You’ve most likely spent a good chunk of change (not to mention time) preparing for your trip, from booking transportation , to activities , to accommodation . After that, you’ll also need to spend a bit more time thinking through how you’ll handle expenses while abroad, and whether to use cash or credit card when traveling. Trust us: The best time to start thinking about money is before you’re spending it!

Time to do some budgeting and calculations!

Just a few of the additional costs of travel to keep in mind before, during, and after your trip include exchange rates, foreign transaction fees, and ATM fees. All that considered, you’ll need to decide for yourself whether it’s better to use cash or credit cards when traveling.

READ MORE: Traveling on a Student Budget? You Need This Budget Planner

Is it better to travel with cash or card.

Okay, let’s get right down to it. Is is better to travel with a credit/debit card or local cash? Lots of people think it’s better to take cash out of local ATMs when you arrive at your destination, in order to save on exchange fees and credit card fees. On the flipside, others prefer using a credit card while traveling because it can be more reliable and earn you points on your account.

So, is one better than the other? It depends. When deciding to travel with cash or card abroad, consider the following pros and cons:

Pros and cons of using a credit card abroad

• Pro : May offer a better exchange rate than when using cash
• Pro : If lost or stolen, a card is easier to replace and potentially get your money back
• Pro : More secure than carrying cash
• Pro : Score points on credits that can be used for future travel and other purchases
• Con : If you forget to alert your bank, your charges could be flagged as fraudulent (and they may shut off your card, leaving you stranded)
• Con : You may be charged international transaction fees on every purchase

Pros and cons of using cash while traveling

• Pro : Avoid international transaction fees on your purchases
• Pro : You’ll always have money available for tips or cash-only vendors
• Pro : It supports the local economy more directly
• Pro : You can order local currency in advance from your bank or organizations like AAA
• Con : Less secure than carrying a card (lost or stolen cash is most likely gone forever)
• Con : ATM fees and account fees for cash withdrawls abroad can be huge, especially at out-of-network ATMs
• Con : Difficult to know how much you’ll need, potentially leaving you stranded if ATMs or Western Union are scarce

READ MORE: 5 Best Credit Cards for Travel Rewards

Is it cheaper to use credit cards or cash abroad.

Whether cash or credit is cheaper comes down to exchange rates and transaction fees.

Since many of the pros of using cash or card depend on exchange rates, you’ll want to first understand what they are and how they can determine if it’s cheaper to use credit cards or cash during your travels.

For those who aren’t familiar, exchange rates can be defined as “the value of one currency for the purpose of conversion to another.” Anywhere you travel that doesn’t use the same currency you use at home, you’ll need to convert money so you can spend it.

In some countries, you’ll be able to use your own currency which the vendor then exchanges, but it’s best to take the “when in Rome” attitude, and make the exchange yourself at a kiosk, hotel, or other reputed place of business that offers exchange services.

Keep in mind that exchange rates vary by location. For example, airport kiosks don’t often have the best rates, so it’s a good idea to shop around or go to a local bank instead. It’s very easy to Google what a good rate would be.

Additionally, when you use a credit card, you must also keep in mind exchange rates. Some cards may have better rates than others (this information is also searchable).

This brings us to international and foreign transaction fees! Even with a good exchange rate, you’ll often be charged a foreign transaction fee when making credit card purchases abroad. Luckily, some credit card companies have partnerships with banks abroad, and offer lower (or zero) fees, especially credit cards intended for travel .

It’s best to do some research prior to your trip to see which of your credit cards is better to use (or if this time around you should stick to cash)!

Pro tip : Some vendors will ask you if you want to pay in local or foreign currency when you’re making a credit card purchase. It’s best to select local currency, as that will get you the closest to the fair market rate!

What’s the best way to get cash when traveling abroad?

Be sure to research how easy it is to find an ATM in your destination.

Most likely the easiest way to get cash when traveling is by using the same debit card you’d use at home at a local ATM . Just as with credit card foreign transaction fees, when you use your debit card to take out cash at the ATM, you may be charged a fee. Usually, it’s $2 to $7 dollars on any cash withdrawal.

That being said, it’s better to withdraw a large amount of cash at once to avoid multiple fees . The percentage charged by your bank on international withdrawals is most likely fixed, so by making larger withdrawals, you’re actually getting more bang for your buck where ATM fees are concerned.

Avoid scams by going to an actual bank to withdraw funds. Make sure you’re checking that you’re not being charged an exorbitant fee to withdraw your cash, and there isn’t a large minimum amount (you don’t want to carry too much money around with you with the risk that it will be lost or stolen).

Again, your bank may have a partner in the country you’re traveling to where you can withdraw cash with no fee, so try to find out if this is the case prior to jetsetting!

Another reason to get in touch with your bank prior to leaving your home country is to avoid the hassle of them potentially flagging any of your international purchases as fraudulent. Some banks will flag an international transaction until you verify you are indeed out of the country , which may delay being able to use your cards.

Honestly, it’s a great idea to pre-order some cash in the local currency through a travel agency (like AAA) to make sure you have a backup method of payment, at least for your first day or two abroad— especially if you won’t have phone service when you land . No phone service and no cash on hand will leave you stressed AF, especially if you’re landing in the middle of the night.

If for any reason you are not able to use a credit card abroad, other options include prepaid cards from Visa, Mastercard, or other large credit card companies, or even travelers’ checks. While it’s not ideal to carry around large amounts of cash, travelers’ checks can be refunded if lost or stolen.

Should I carry local cash when traveling?

It’s always a good idea to have some local cash on hand.

While credit cards are easy to carry and more secure than cash, you should always have some local cash on you when traveling. It’s just good sense. Besides the fact that some local shops and vendors won’t accept credit cards, having some cash provides a safety net in case your bank shuts off your card for any reason. Plus, cash tips are always more appreciated than digital.

How much cash should I travel with?

How much cash you should travel with largely depends on your destination: How much is the cost of living? Is tipping expected? How long will you be staying? Do many of the activities you want to do or places where you want to do business accept credit cards or online booking?

These are all questions you should ask yourself when determining to use cash or card when traveling, and just how much cash you should travel with. But, if you want a number to work with, we suggest having $200 on hand when you land in your destination , just to be safe. If you decide to go cash-only for your entire trip abroad, then maybe factor in a bit more for your first few weeks.

Keep in mind you’ll also want a safe place to keep your cash. Take with you what you need for the day, perhaps in a money belt or other secure item, and leave the rest in your accommodation, ideally locked up. Most hostels and hotels around the world provide safes or lockboxes in their rooms, so you’ll be golden.

Plan your next trip with GoAbroad.com’s Travel Resources Hub

Cash or credit card it’s up to you.

So, should you use cash or credit cards when traveling? A mix of both may be the answer! If you do a bit of research prior to your trip, you’ll be able to safely estimate how much cash you should bring with you, how much and where to withdraw, and what your bank and credit card company’s policies are regarding international expenditures.

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4 Best Ways to Take Travel Money Overseas in 2024

Travelling can be exciting. From trips to see family and friends overseas, to exploring new cities or taking a beach break, or even travel for business. But whether you’re off on a well earned break to Bali, or headed to the US for work, you’re going to need to figure out the best way to spend money overseas.

Deciding the best way to travel with money overseas without getting hit by high fees and bad exchange rates can be a headache. But it doesn’t have to be. There are plenty of different ways of taking money overseas, each of which has its own pros and cons. This guide walks through 4 of the best ways to pay overseas so you can decide on the option that suits you best.

What are the best ways for Australians to spend money abroad?

As Australians, we  love  travelling. And while we travel, we need access to money. It's not the most glorious part of our travel plans, but it's equally important to decide on the best travel money option for us so we're not left feeling negative at any stage of our trip.

The problem is, it can be tricky working out the best travel money option to use. The fact is, the best one for you will really depend on what you need from the travel money type you're using.

Travel Debit Card

Prepaid Travel Card

Travel Credit Card

Foreign Currency Cash

Wise card - our pick for travel debit card.

Open a Wise account online or with your card, and order a Wise travel debit card to make it easier and cheaper to spend while you’re away. Plus if you need cash for travel you can get some fee free ATM withdrawals overseas every month, too.

Once you have a Wise account and card you’ll be able to top up your account in AUD and either switch to the currency you need in your destination, or just let the card do the conversion for you at the point of payment. In either case you’ll get the mid-market exchange rate and low fees from 0.43%, with no foreign transaction charge to worry about.

Find out more about the Wise card .

Debit Cards offer the convenience of a credit card, but work differently. They draw money directly from your bank account when you make a purchase. It's designed for everyday money transactions and means that you're not accumulating debt.

A debit card could make you stick to your travel budget, because you can't overdraw money from your account.

Benefits include:

• Direct access to your savings
• ATM withdrawals worldwide
• Security features like disposable virtual cards and zero-liability if lost or stolen

What are the fees?

• Currency conversion fees for all debit card payments in foreign currency
• Dynamic currency conversion fees if you don't choose the local currency to pay
• Flat fee or percentage-based ATM withdrawal fees
• Foreign ATM fees
• Flat fee or percentage fee for debit card purchases via EFTPOS

How do you get a travel debit card?

• Apply : Compare everyday transaction options and open account
• Give details : Bring personal I.D. You need be over 16 years old and have an Australian address
• Activate your account : get your debit card through mail
• If you haven't received your card, visit your branch or call your chosen provider to check

Tips when travelling with a travel debit card

If you get a travel debit card from a specialist like Wise you won’t usually need to tell the provider you’re headed on holiday. However, there are a few smart things you can do to make using your debit card easier and more convenient when you’re away:

• Make sure you know how to top up your account so you can add more money easily if you need to
• Check you know how to freeze and unfreeze your card (this can usually be done in the app)
• Keep a note of how to contact the provider, just in case your card is lost or stolen while you’re away
• Use a currency conversion tool to keep an eye on exchange rates - if rates change in your favour you might want to lock them in by converting some AUD to your destination currency in advance
• Always pay with the local currency wherever you are to avoid dynamic currency conversion (DCC)

Revolut - out top pick for prepaid travel cards

Revolut offers digital accounts you can manage through their app, and prepaid travel debit cards that can be used to spend in 25+ different currencies. You’ll need to open an account online or in the Revolut app and have your card sent to your home address, but you can then add funds in dollars and spend easily at home and abroad.

There’s no fee to spend a currency you hold in your account, and all accounts get some fee free ATM withdrawals and some currency conversion which uses the mid-market exchange rate. However, there are limits to the free transactions you can get, which are set according to the account type you choose, with fair usage fees after that. 

Prepaid travel cards are a good alternative to carrying cash. With prepaid travel cards, you load the card with a set amount of money in the currency you need. You can then use it to make purchases online, in stores and to withdraw money at ATMs.

Most travel cards allow for different currencies to be loaded onto the card. So it's important to know what currency you'll be using on your travels. Airlines also offer prepaid cards so the money you spend can earn you reward points.

• Load money upfront so you can budget
• Access multiple currencies
• Lock-in your foreign exchange rates
• Replaceable if lost or stolen
• Frequent flyer points
• Back-up card sometimes on offer

• Exchange rate margins for your initial load
• Exchange rate margins when you close the card
• Flat or percentage-based fees to load the card
• Overseas ATM withdrawal fees
• Exchange rate conversion fee when you use the card
• Reload fees
• Closing fees

How do you get a prepaid travel card?

• Get a card : Compare prepaid card options and purchase your card online, at a bank or through your airline loyalty program
• Activate and register : call the phone number or go online to activate and register
• Load : add funds to your card in-store at time of purchase or online
• Use : Make purchases or withdraw money from ATM
• Reload : Add more funds to your cards via bank transfer/Bpay online

Tips when getting with a prepaid debit card

Prepaid debit cards can be convenient and safe ways to spend when you’re overseas. Generally using a prepaid card is as easy as using your bank card - but you might find your foreign currency spending costs you less in the end. Here are a few extra tips:

• Check that the prepaid travel card you’ve selected supports the currency you need in your destination
• Look out for foreign transaction fees or conversion fees, which may apply if you don’t switch your funds over to the destination currency in advance
• Make sure you know how to add more funds and manage your account and card once you’re away
• Keep a record of who to call if your card is lost or stolen
• If you intend to use your card again for next year’s holiday make sure there are no inactivity fees - these often apply if you don’t use your card for 6 or 12 months
• Choose a card on a major network like Visa or Mastercard for the best global acceptance

Westpac - travel credit card

If you’re considering a travel credit card, the Westpac Reward Altitude Black might be a good bet. You can earn rewards every time you use your card, but the rate at which you earn is far higher at 6 points per dollar, when you spend with partner airlines including Qantas, Jetstar and Emirates. There are also some other retailers which offer higher points earning opportunities, such as Airbnb and Uber, with all other spending accruing rewards at 1.25 per dollar. 

Once you have reward points banked you can use them to pay for purchases, as cash back, to get gift cards, or when buying flights. Bear in mind that this card has a minimum income requirement of 75,000 AUD/year, plus annual fees, foreign transaction fees and cash advance costs.

Credit cards have been around for a long time. But now there are specialised travel credit cards. These cards give you longer to pay back what you've spent, but the interest rates can be quite high.

The main advantage with travel credit cards are the reward points you get in return when you spend. But it only works if you pay off the balance in full each month.

Credit cards are great to use for car hire, restaurants and accommodation - larger expenses that are easier for you to pay back over time. Some services only take credit cards to hold purchases so it's handy to have while you travel.

• Access to credit - often greater than your savings
• Security features like card fraud protection and zero-liability
• Low or no transaction fees
• Frequent flyer points or rewards
• Extra perks - travel insurance, purchase protection, airport lounge access, wifi, or concierge services
• Widely accepted - visa and mastercard is accepted almost everywhere

• Annual fees
• Reward scheme fees
• Cash advance fees
• Interest charges

How do you get a travel credit card?

• Build credit history - pay your bills on time
• Choose your type of credit card : low rate, low fee or rewards points
• Apply  for a credit card: Bring personal details, photo ID and proof of income
• Register for a new account if you don't have one
• Receive credit card in the mail if approved

Tips when getting a travel credit card

If you’re interested in using a credit card to spread the cost of your travel, and don’t mind paying a few fees to do so, a travel optimised credit card can be a great option. You’ll usually find you earn extra points, miles or rewards when you spend on travel - and you can then normally switch points for discounts on your next travel booking, too. Here are a few tips to bear in mind when you get a travel credit card:

• Make sure you’ve checked eligibility requirements as there may be a minimum income to apply
• Look for a card which offers extra rewards for spending with merchants you use anyway
• Check out how you can redeem points, and whether there are expiry dates or black out dates for travel booking, which can limit your options
• Weigh up the costs of the annual fee and any interest charges against the points or rewards you’ll earn
• Bear in mind you might have to pay a foreign transaction fee when you’re abroad, which may mean this is a better option for spending at home and accumulating points to get a cheap flight, rather than to take along with you 

It may sound obvious, but the most convenient way to carry money overseas remains cash. Virtually everywhere accepts it. Some places only accept cash, particularly in Asian and African countries.

It's always a good idea to have a little cash handy, even if only for emergencies and tipping. But keep it secured in a safe place.

Getting cash is best when you:

• Want to lock in a rate
• Want to stick to a budget
• Have a secure place to keep it
• Like to bargain for a better price for a product
• Don’t have precious time to waste hunting down the nearest ATM
• Want to avoid card fees every time you need to pay for something

Getting cash is  not great if you:

• Want the absolute best rates
• Need to pay by credit card
• It can easily be stolen
• Need to make a claim for stolen cash on your travel insurance
• Are visiting multiple countries and plan to exchange money at each local currency provider
• Can only exchange money at the airport
• Flat fee or percentage-based currency conversion costs
• Delivery charges

While not a fee, you also should consider the exchange rate you're getting when you convert your Australian dollars

How to organise foreign cash online?

• Compare: foreign exchange rates for cash
• Select your currency and amount : then choose delivery or pick-up
• Pay : Online pay by card, Bpay or bank transfer
• Get your cash : In 2-5 business days

Buying money at the bank before you go

Banks usually give competitive exchange rates and fees, but shop around various banks and other providers as you might save a few dollars. At a bank, if you buy $1,000 worth you can pay more than $25 in fees and commissions.

Order your currency about a week before your trip (allow longer for uncommon currencies), because some money changers won't have the currency you want in stock.

Best way to withdraw money overseas?

Withdrawing money from a local ATM once you arrive in your destination is convenient, and can be safer than carrying a lot of cash all at once - but it can also be expensive.

The exact costs you incur will depend on the specific card you use, including whether it’s a credit or debit card. With either card type you’ll need to check what foreign transaction fee is levied - this is often about 3% every time you withdraw. If you’re using a credit card you’ll usually also pay a cash advance fee which is a further percentage charge, and you may start to accrue interest instantly, too.

Getting a travel debit card, like the Wise card, can be a good option for taking money out from ATMs in the local currency. With Wise you get some fee free withdrawals every month, with low costs after that - plus there’s no foreign transaction fee, and you’ll get the mid-market rate every time.

How much cash can I take overseas

There’s not actually a cash limit for overseas - but you’ll need to report to AUSTRAC or at the border if you’re exporting currency (AUD or any other currency) of 10,000 AUD or more in value.

In reality, the more cash you carry, the more you’re risking if you’re unfortunate enough to be the victim of crime. Carrying a small amount of cash, plus one or more cards to make withdrawals as and when you need to, is usually a more sensible option.

Want to learn more about travel money card providers?

We review some of the best travel money cards on offer from the following providers. They’re some of your cheapest options to take travel money with you. We’ve shared information on:

• An overview of each travel money card, giving you some quick, useful insight.
• The advantages and disadvantages of each travel card or account and why you might choose to use them.
• Fees, exchange rates and limits.
• The currencies and extra benefits the card has to offer.
• Safety and security of the provider that offers the card.

To find out how to compare travel cards, use our travel card guide .

Thinking about getting your travel card through your bank?

Banks are almost always more expensive than companies that specialise in travel money. They charge high fixed fees and worse exchange rates than you can get from companies like Wise , Revolut and similar businesses.

To make a fair comparison,  we’ve reviewed all of these banks and shared pros and cons about each one.

Remember, you can also use our comparison table in our travel card guide  to find the cheapest option.

Do you know what currency you want to exchange?

Use our comparison tool to find the travel money provider with the best exchange rates for the currency you want to buy.

USD Dollars (USD)

Euro Dollars (EUR)

British Pounds (GBP)

Japanese Yen (JPY)

NZ Dollars (NZD)

Indonesian Rupiah (IDR)

Thai Baht (THB)

All Other Currency

FAQ - Best ways to take money overseas

What is the best travel card.

We recommend 5 top travel money cards for Australians going overseas:

• TransferWise  is our best value travel debit card
• Revolut  is our best multi-currency travel card
• Citibank Saver Plus  is our best bank travel debit card
• 28 Degrees Platinum Mastercard  is our best travel credit card
• Travelex Money Card  is our best prepaid travel card

Related reviews:  TransferWise Debit Card vs Revolut;   28 Degrees MasterCard vs Citibank Plus Transaction Account vs NAB Traveller;   List: The best and worst travel cards in Australia

What is the cheapest way to get foreign currency?

The cheapest way to exchange currency really depends on what currency you are buying, how much and where you are.

It's usually cheapest to buy foreign currency at your destination, but not as convenient. If you're more prepared, there is  very little difference between buying currency in-store or online . For in-store currency exchanges, you'll get better rates in the CBD than further out. The most expensive option is to exchange your currency at the airport - so don't do it! There are  smarter ways to buy currency .

Related reviews:  Compare foreign exchange rates for cash ;  How to Get the Best Currency Exchange Rate;   S Money

What is a cross currency conversion fee?

This fee is also known as Dynamic Currency Conversion (DCC) and is the amount charged by a merchant to make the currency conversion to your local currency.

For example, you're travelling in Italy and your bill is delivered to you in AUD, instead of EUROs. The good news is you can view your purchases in your local currency, without stressing about converting it. The bad news? Many merchants add huge exchange rate mark-ups compared to your travel card issuer.

We recommend you refuse the DCC when a merchant asks you if you want to transact in Australian dollars while you're overseas.

How can I avoid ATM withdrawal fees?

Avoid ATM withdrawal fees by using an everyday debit card to withdraw cash, rather than a credit card. Some banks waive the overseas ATM fee for your everyday debit card. Especially banks that have international ATM alliances, like Westpac.

On the other hand, a cash advance fee applies to credit cards at ATMs, even if you preload money with additional funds to avoid interest charges.

Unfortunately some ATMs overseas will charge additional withdrawal fees. If your Australian bank charges you too, you'll be paying double the amount of ATM fees when you withdraw money.

We recommend you  choose a debit or prepaid travel card that won't charge you when you withdraw cash from ATMs  overseas.

Can I just use my bank card instead?

Yes. As long as you have a card with a Visa or Mastercard symbol you'll be able to access funds. Use your card to withdraw cash from ATMs and at EFTPOS terminals. However, foreign currency fees may apply depending on whether you use a debit or credit card.

What currencies can I buy online?

Where is the best place to exchange money travelling, your currency knowledge centre.

5 Cheaper Ways to Transfer Money Overseas

Using a bank is one of the easiest ways of transferring money overseas, but can also be the most costly. There are alternatives that can make the whole process cheaper.

• Read more ⟶

International Money Transfer Comparison and Reviews

Find the best international money transfer exchange rates to send money overseas from Australia. Compare the rates and fees from leading banks and money transfer services.

How to Transfer Money Overseas from your Australian Bank Account

Transferring money overseas from your Australian bank account is simple once you know how to do it, but you might be short on time to figure it out.

What's the Best Way to Bring Spending Money to the UK?

A Look at the Pros and Cons for Convenience, Value and Spending Power

Yagi Studio/Getty Images 

The pound Sterling (£), sometimes just called " Sterling ", is the official currency of the UK . You can change your money into pounds in different ways, but you can't actually spend your own national currency, not even Euros , without exchanging it first.

As soon as you start planning your trip, start thinking about how you'll handle your spending money in the UK. Leave yourself enough time to consider the convenience, security and value of various options and to open new bank or credit card accounts if necessary.

These are the choices:

1. credit and debit cards - the easiest and the cheapest.

These are, hands down, the cheapest and most convenient way to pay for things and to get cash in the UK as long as you use them correctly. Consider the pros and cons.

• Credit card companies apply a wholesale/interbank exchange rate in effect when your payment is processed. The rate will go up and down but it will always be a commercial rate, available to banks and large organizations—much better than the retail currency exchange rates available over the counter to consumers. So you get more for your money.
• Most card companies do not add additional transaction fees on purchases of goods (though they do when you buy cash).
• If you pay your credit card bills before interest is added on, or make sure you have enough money in your debit account to cover your spending, you won't be subject to any extra charges.
• They're widely accepted—You can pay for just about anything with a debit card in the UK, from a carton of milk and the day's newspapers or beer in a pub, to large expensive goods. In the UK, people can even pay their taxes and electricity bills with a debit card.
• Cash machines, or ATMs are everywhere. Most village high streets will have a selection of automated teller machines. They're available at petrol (gas) stations, in cinemas, at banks and in some shops. This makes getting some cash at any hour of day or night very easy.
• Some cards are not recognized or widely accepted in the UK. You may have difficulty using Diners Club and Discover cards. American Express cards are sometimes refused. Stick with the big two—VISA and MasterCharge—and you shouldn't have any problems.
• Some merchants may require a minimum purchase to accept a credit card. This is especially true in small, local Mom and Pop stores.
• Bank charges may apply. Bank, building society and post office cash machines in the UK (which is most of them) do not apply an extra charge or commission getting cash. But your own bank or card company probably will. It's worth shopping around for the lowest currency transaction charge because this varies from card to card and between issuing banks. You might be charged anywhere from $1.50 to $3.00 or more per foreign currency cash transaction.
• A small number of cash machines do charge for withdrawals and are worth avoiding. Cash machines in small convenience stores and at some motorway rest stops may be part of commercial networks that add extra fees—a minimum of about £1.50 but sometimes a percentage of your transaction. Try to avoid using these machines except in an emergency. Instead look for ATMs associated with the UK's big banks, with building societies (like savings banks) or with leading shops (Harrods,  Marks & Spencer ) and supermarkets. 
• You may need to get a new card to comply with European chip-and-pin standards (more on that below)​.
• One word to the wise —Use your credit card to buy things but use a debit or ATM card for getting cash from ATMs. When you use a credit card for shopping, interest is not charged until after the payment deadline (usually 30 days or the end of the month). But, when you use a credit card at a cash machine, interest starts accruing immediately. With a debit card, as long as you have money in the bank to cover your spending, no interest is charged.

The Chip-and-Pin Issue

The UK, along with most of the rest of the world, has been using chip-and-pin cards for more than a decade. The cards have an embedded microchip and customers are issued a unique, 4-digit PIN number they have to enter in ATMs or at point of sale machines to use their cards.

The USA has been the one holdout, relying instead on cards with magnetic stripes that usually require a signature. All that is finally beginning to change. The EMV (Europay Mastercard VISA) group, who developed the global, open chip and pin smart card technology, have been trying to persuade American merchants and card issuers to change to chip and pin for a long time. In October 2015, to force the issue, they changed their rules. Since then, if a card is used fraudulently, merchants or card issuers who do not participate in the chip and pin protocol will be held liable for the cost of the fraud.

Because of this, EMV chip-and-pin smart cards are becoming more widely available in the USA and older style cards are gradually being replaced to meet the global standard.

What This Means for You

If you already have a chip-and-pin smart card, you won't run into any difficulty using it where your brand of card is accepted. The card reading machines used in shops, banks and post offices will still have a magnetic stripe reader so you can swipe your card on the top or side of the device. 

But if your card requires a signature (either mag stripe and signature or chip and signature cards) you will have problems—especially when no human cashier is present to accept your signature. Without a chip, your card will be rejected by ticket machines (at train stations, for example) and by automated petrol (gasoline) pumps. And even with a chip, you will need a PIN number to use your card with these machines.

To avoid hassles:

• All bank cards and credit cards have a 4-digit PIN number, even if your bank or card issuer has not given it to you. Ask for one for each of your cards before traveling. Then you'll be able to use your card in an ATM or swipe it at a point-of-sale terminal and authorise the transaction with your PIN number.
• Get yourself a chip-and-pin card. Most of the bigger American banks are now offering them or replacing their customers' existing chip and signature cards with chip and pin cards. If your bank does not yet have them available, open an account at a bank that can give you one. 

And the Contactless Issue

Most debit and credit cards issued to UK consumers have a contactless payment feature. If the card has it, there is a symbol that looks like sound waves printed on the card, as pictured above. These cards can be used for payments simply by tapping them on terminals similarly equipped. Very conveniently, these cards can be used just like Oyster Cards for access to London Underground, London buses. London Overground and Docklands Light Railway. Some mobile phone apps that display the contactless logo can also be used to pay small amounts. 

If you are visiting the UK from Canada, Australia or a number of European countries, you may already have one of these contactless cards and you can use them in the UK wherever the contactless symbol is displayed on the payment terminal. As of 2018, US banks began to offer contactless credit and debit cards in partnership with international card issuers. Chase, for example, has offered this form of payment to its customers since February 2018. If you can, get your hands on one of these as its the most convenient way to pay small amounts. If you are able to use a contactless card, keep in mind though, that your transaction will still be subject to whatever foreign exchange transaction fees your bank or card issuer charges.

If you have an iPhone, you may be able to use Apple Pay wherever contactless payments are accepted and for more than the £30 contactless limit. The Apple Pay UK site has a list of some of the main businesses that accept this form of payment at point of sale. 

Traveler's checks.

Traveler's checks were once the gold standard when it came to carrying travel money. And perhaps, in some parts of the world they may still be a safe option, but they are currently the most expensive and most inconvenient option for the UK.

• They are very secure—As long as you keep a record of the check numbers (separate from the checks themselves), and as long as you keep track of the emergency number to call in the country you are visiting, you can get lost or stolen checks replaced quickly, at no extra cost.
• They are available in several currencies including dollars, Euros and pounds sterling.
• They are expensive, possibly the most expensive way to take money abroad in fact. First off, you will usually be charged a fee of one percent of the total value of the checks you buy. If you buy them in a foreign currency—in other words you spend dollars to buy travelers checks in pounds sterling—the seller's retail exchange rate will apply and you may also pay a commission for the currency conversion. If you buy them in dollars, planning to exchange them for local currency when you arrive, you will still be stuck with accepting a retail exchange rate (usually much less advantageous than the interbank rate for the day) and probably a foreign currency commission too.
• They are very inconvenient. In the UK, with the exception of tourist magnets like Harrods , and very expensive hotels, almost none of the shops, restaurants and hotels accept them. In fact, very few stores in the UK accept any kind of check at all. So you will have to seek out bureaux de changes, banks and post offices—during weekday working hours, to cash them. Bureau de change outlets, the European name for commercial currency exchanges, are profit making businesses and usually offer the worst exchange rates. And banks will only cash traveler's checks if they have what is known as a correspondent relationship with the bank that issued them.

3. Prepaid Currency Cards

One way around the chip-and-pin issue is to buy yourself a prepaid currency card, such as the Travelex Cash Passport or the Virgin Money Prepaid MasterCard. These are cards you prepay in either your own currency or the currency you want to spend. Some can be charged up with several currencies at once. The cards are associated with one of the major international card organizations—usually VISA or MasterCard, are embedded with chip-and-pin technology and can be used wherever those credit cards are normally accepted.

• An easy way to chip-and-pin
• Easier to control your spending. You charge up the card with exactly what you want to spend and then use it up like cash.
• Security is assured as long as you protect your PIN number.
• Up front purchase price and higher than average ATM cash fees can add to costs
• Some can only be charged up with additional funds in person in a branch of the business that sold it to you, in your own country.
• Hidden charges—if you leave a balance on the card, planning to use it for another trip abroad or other special purchases, you may find that balance nibbled away by monthly "inactivity" charges. Read the fine print.

​ And one last warning about prepaid cards:

Whatever you do, DO NOT USE these cards to guarantee your hotel or rental car bill or to buy petrol from automated pumps. In these situations, an amount - which can be £200 or £300—will be put on hold to guarantee that you will pay your bill. The problem is, even if you don't spend that much money, it can take as long as 30 days for those funds to be released. Meanwhile, you can't use the money you've put on the card for the rest of your trip. Use your credit card for the guarantees, then settle the bills with the prepaid card.

Then, of course, there's always good old cash—or at least there used to be (see below). You'll want to have some local currency in your wallet for tips , cab fares and small purchases. How much you carry depends on your own spending habits and confidence in carrying cash. As a rule of thumb, plan on carrying about as much in pounds sterling as you might carry in your own currency when at home.

There is a catch. In the UK, espcially the big cities, a small but growing number of businesses—notably cafes and bars—are refusing to accept cash and will only accept card payments. This is still pretty rare, but we were shocked in November, 2018, to offer a £10 note to pay for a coffee and croissant only to be shown a sign that said the restaurant did not accept cash. These days, an internationally accepted credit card is still the safest kind of travel money to have.

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