When traveling for business or pleasure, anything can happen. Sure, usually nothing does and things go smoothly, and the only memories you take back home with you are happy, fulfilling ones. But what happens in the worst possible scenario? What if you are left without money on holiday? At the moment of realization, it seems like the end of the world. Well, it doesn’t have to be. Below, we will explore some of the best and cleverest options out there as well as tricks shared by savvy frequent travelers and experienced holiday-makers to avoid the avoidable – the loss of hard-earned cash while traveling.
Say you’re about to board your plane to an exotic destination, or for a business meeting in another country. What do you do with regards to money? Do you trust your wits enough to convert a lot of cash and carry it around on your person? Sorry, but even the most streetwise among us have been relieved of cash-filled wallets on occasion and it hasn’t been at all fun. No: there are smarter ways to go about it.
Have you thought about a rechargeable cash card? These look like debit or credit cards, but can be recharged up to a certain limit and work just like ordinary cards at ATM machines worldwide. The beauty of these cards, however, is that they are not linked to any bank account. That is, if you lose them or they get stolen, the thief will only be able to use what was left on the card at best, or maybe nothing at all, as they are PIN protected (of course!). Main thing is, your current account will be safe!
Travelers’ cheques are a thing of the past. More and more shops, hotels and outlets do not accept them or are only willing to accept them at a high administrative fee. Why bother? If you are not happy with the idea of a cash card, an even more foolproof option is the following. Take a limited amount of cash, say enough to pay for your accommodation and taxis. Then, once you find your bearings at your destination, arrange for a family members or employer to send an online funds transfer. An international money transfer is a quick, straightforward and cheap way to help out a loved one abroad or to top up holiday cash in a simple and foolproof way. Losing one’s wallet while abroad is the typical case scenario where online funds transfers are the only viable option: one needs only a proof of ID and a code from the sender to access much-needed cash!
So, we have just covered a couple of smart ways of thinking about how to handle money while traveling. Avoiding loads of cash and leaving vulnerable credit and debit cards in your hotel safe are clever strategies. Knowing that online international money transfers are always available provides added piece of mind!