Travel Money - ways and means to access cash

When travelling abroad one of the main concerns is accessing cash to pay for hotels, restaurants, bars and shopping. Ironically we don’t think twice in our home country and happily go about our daily business either using our debit or credit cards without too much of a care. Why is it then that when we go on holiday we have all these major concerns. It is understandable if we are off to the back and beyond where they are not connected much to civilization, but how often is that?  

Of course when one gives it a little more thought the main concern is being stranded without being able to use the regular means of accessing our money. Therefore, the concern is justified but these days with modern communication the way it is we shouldn’t be stressed out – after all the holiday is meant to relax us!  

Automatic Teller Machines (ATM)

On the whole the world wide web of ATMs ensures that for the most part as long as we have our trusty plastic card one should be able to get cash pretty easily. Even the remote islands in places such as Thailand, Vietnam and Indonesia have ATMs on them. So be sure to take one or two ATM cards with you. Be sure to check what the local and home rates are for withdrawals so that you can plan your money correctly.  

Travellers Cheques

Becoming less popular for the ardent traveller due to the rise in ATMs, but travellers cheques still provide one of the safest ways of carrying cash. The golden rule is to keep the list of numbers separately from the cheques so that if they were to be lost or stolen they can be easily cancelled, and more importantly replaced! Travellers Cheques from a reputable supplier in either US dollars, Euros or Sterling are pretty much accepted everywhere in the world and in a lot of places can be used as cash; which saves the need of finding a bank open.  

Old Fashion Cash

Be in your own currency or previously converted to the host country’s currency it is always a good idea to have some with you before you set off. This is especially so if you have never been to the holiday destination before and you are unfamiliar with the facilities available. Our recommendation would always to keep US$50 to US$100 stashed away somewhere as an emergency fund that will at least get you to your local consulate to request assistance.  

Others

Money Gram and Western Union are very well represented especially in areas that do not have the financial infrastructure such as banks and ATMs. These are useful for not only having money sent to you, as they are instantaneous, but also that you can put money into them like an account and draw against it on your travels. The charges are somewhat high but the convenience and safety factor are definitely worth considering when going off the beaten trail.