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Somehow, having enough money at hand is always a hassle when traveling. This article explains how to take care of travel money.
It is important to have different ways to get money while traveling. In many countries the facilities to get money are not available or are different from what you are used to back home. Think about limited opening hours of banks or banks, special bank holidays or banks not being available at all. Also cash machines can be unavailable, or won’t accept your card. What do you do if your money gets stolen? It is very annoying to be without money during your holiday. You want to enjoy your trip and not spend your precious time searching for banks, or cash machines that will accept your card.
For all the reasons mentioned above it’s probably a good idea to have different ways to get money during your travels. A good thing is to bring a certain amount in cash (but not too much), bank card, traveler cheques and one or two credit cards from major companies (Visa or MasterCard)
Travel Money - Safety
Keep in mind that not everywhere in the World is as safe. Moreover, as a tourist/visitor you are more vulnerable to pickpockets. This is not intended to scare you, but you should be aware of this and take the appropriate precautions. Better safe than sorry. Do NEVER show large amounts of money in public. Do you do that back home? You never know who is watching. Make sure nobody is watching when you enter your pin code in a cash machine.
By spreading your money you decrease the risk that you lose everything at once if for example you lose your wallet or one of your bags. Another practical idea is to carry a money belt around you waist (hidden under your pants). Many travelers use this to store their money and travel documents close with them and out of sight/reach.
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Travel Money - Cash
We advise to always bring cash on your trip. In case you can’t access a bank/cash machine you have some cash to fall back to. Bring let’s say around 100 - 200 Euro/Dollars. Dollars are most accepted around the world. However, it is not a good idea to carry these kind of amounts with you all the time. Even if you do, make sure that a small part is in your wallet and the rest is spread over your other bags (win places that other people cannot easily access). Do NEVER show large amounts of money in public. Do you do that back home? You never know who is watching.
By spreading your money you decrease the risk that you lose everything if for example you lose your wallet or one of your bags. Another practical idea is to carry a money belt around you waist (hidden under your pants). Many travelers use this to store their money and travel documents close with them and out of sight/reach.
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Travel Money - Bank Card /Debit Card
Nowadays it is possible to use your regular bank card (Maestro/Cirrus) in many places, also in developing countries.
Travel Money - Credit card
It is a good idea to bring a credit card. VISA and MasterCard have the highest acceptance Worldwide.
Travel Money - Traveler cheques
If you want to be insured against theft during your trip you can also bring Traveler Cheques. These are insured against theft under the strict condition that you have signed them in advance. Traveler cheques can be exchanges by most banks and traveling agencies worldwide.
Travel Money - How to save Money for traveling
Check our blog articles on 5 Super tips how to save money for traveling: travel preparation (part 1) and 5 Additional tips how to save money for traveling: travel preparation (part 2) for more tips on how to save money for traveling.
If you would like to comment or add tips for travel money please contribute by leaving a comment below.
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