It’s happened over and over again to so many travellers around the world.
You are in a foreign country somewhere amazingly beautiful.
You are having the time of your life and feel like nothing could ever go wrong.
And then boom! You either get robbed or lose all of your valuables.
It’s happened to a few of my friends, and the worst part of it all isn’t the fact that you got robbed.
No, it’s the practicality behind trying to do anything without having access to any cash.
Cards can get blocked, passports can get replaced. But at the exact moment where you have nothing, it feels pretty powerless not being able to even pay for a night in a hostel or hotel.
There are a few tips and tricks everyone should make sure they stick to when travelling.
These travel money tips will make your life just a little easier when (hopefully never) something goes wrong and you are in need of emergency cash.
Travel Money Tips
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Below Are 7 Travel Money Tips
Travel money tips
Money Tip #1 Have More Than One Bank card
Relying strictly on one bank card is a bit of a risky game.
I did this for a whole friggin’ year! (Don’t ask why!)
Having more than one card has a few benefits, such as:
- If one card stops working, you have a spare one to use right away while waiting for a replacement.
- Sometimes ATM’s or card machines will reject one of your cards. Being able to use a second one can be helpful and solve the problem.
- If one card gets stolen or misplaced, you have the second one ready to go.
Money Tip #2 Keep A Bit Of Cash In Case Of Emergencies
So sh*t has hit the fan. You lost your wallet with all of your bank cards in it, and you now feel hopeless!
But wait, you just remembered about that $200 emergency cash stash you have hidden deeply in your luggage.
This can really help you a lot and give you just enough breathing space while you get your things sorted!
Money Tip #3 Inform Your Bank Beforehand
Some banks are bit different to others. They may want to know that you will be out of the country, or you might have difficulty using your cards abroad.
This happened to me once in Thailand.
I kept trying to withdraw cash at an ATM, and the transaction kept failing. Yet the money was being deducted from my bank account!
It was all do to with security or something. After a long phone call with my bank, they advised me to always inform them of my travel plans beforehand.
Needless to say I did get my money back eventually. But it was just another added stress.
Money Tip #4 Be Wary If The ATM Has An Error
This is just a continuation from the above tip #3.
If your ATM is saying that your withdrawal isn’t processing. Do NOT keep trying to withdraw money.
What happens is you are not receiving any physical cash, but the money is being deducted from your bank account. It’s a glitch in the ATM system, and yes you will have your money put back into your account.
However, if you are withdrawing large sums of cash, and trying a few times, then it could be a few thousand dollars out of your bank account for a few days!
Money Tip #5 Know Exchange Rates
Planning on exchanging a bit of physical cash at some point in your trip? Then it’s a good idea to know the rough exchange rate the day you plan on doing an exchange.
This will allow you to make sure you are getting the market rate, or as close as possible to it.
Money Tip #6 Be Wary If An Exchange Place Offers Too Good A Price
This happened to me in Bali.
I found a place offering an exchange price for US Dollars which was way above the market rate. And naturally, I was an idiot and decided to exchange my money here.
Long story short the guy ended up robbing me, somehow, of $100.
So be wary of places like this, and stick to official money exchange institutions.
Money Tip #7 Draw Cash From Accredited ATMs
Just to keep your mind at ease and your money safe, draw cash from official ATMs wherever it is you find yourself.
This just ensures that your finances remain safe. You never know what might just happen!
Remember, travel is awesome and fun. But it does help to just be a bit cautious at all times when it comes to your money.
Cheers,
Richard-T
