Today we are diving into the topic of money safety while traveling internationally. Every country has its own system when it comes to using money and it can be a bit confusing. Also, there is the added fear of pickpocketing or not being able to access cash when you need it. This blog post addresses 7 different ways to keep your money safe when traveling abroad. 

I completely understand these safety concerns. One example is when we first got to Quito, all of the ATMs were denying our ATM card and hardly any businesses took credit cards. We felt like panicking, but instead took a deep breath and figured out how to solve our problem. In the end, it all worked out.

To ease your travel safety concerns, I’m writing a 6-part series on how to stay safe when traveling.

Did you miss the other 5 articles? Check out the links below:

7 Great Ways To Stay Connected When Traveling Abroad

Staying Healthy When Traveling

Accommodation and Hotel Safety

Safety Tips For Using Public Transportation 

Crowd Safety When Traveling: How To Keep Your Family Safe

This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. I only recommend brands that I use and trust! Please see full disclosure here.

Use Credit Cards Whenever Possible To Keep Money Safe When Traveling Abroad

You should always do a bit of research before traveling. Here’s what we recommend you research before each trip: What to Research Before Visiting a New Country. One of these things to research is about money.

You will want to know what the currency is, if you can use credit cards or if cash is mainly used, if you can pay with a bank card, and cash limits for taking money out of an ATM. For me, I prefer to use credit cards whenever possible while traveling. There are a couple reasons for this. 

One, the more I use my credit cards, the more points I earn. This all equals more travel for me! Yay! This isn’t a safety reason, I just like to travel and got excited! 😂

Secondly, if a charge I didn’t make comes through on my credit card statement, it is really easy for me to contact my credit card company and tell them about the charge and get it removed. So even if fraud does happen, I won’t have to worry as much about paying an accidental or fraudulent charge.

So my advice would be to use credit cards when possible and keep track of your accounts. If you see an unusual charge, contact your credit card company immediately! 

Another piece of advice for credit cards when traveling is to not let credit cards be taken out of your sight. There is a chance that someone will swipe your information.

The only exception I know of is if you are in the U.S. Be aware that it is common practice at restaurants for the waiter to take your card to the back or a side station in the restaurant to run your credit card to pay for your bill. For some reason, most American restaurants don’t have portable credit card swipers and don’t accept Apple/Google pay. Physical cards are king in the States. 

Tell Your Bank Where You Are Going

It can be helpful if you are from the U.S. to tell your bank where you are traveling. Some banks don’t need the information anymore, but other banks do. Reach out and let them know just in case. You don’t want your bank to deny a charge or not let you access your money. 

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Using ATMs Safely

If I am traveling to a country that uses cash and has a currency different from my own, I prefer to take my money out of an ATM and not exchange it before traveling. This saves me money because you get a better exchange rate. When I do access an ATM, there are some rules I follow to stay safe and not get robbed. 

1. DO NOT use the ATM at night. 
2. Find ATMs that are in well lit locations that aren’t secluded. I prefer to look for ones that are in malls, inside banks, in a grocery store or at hotels. 

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Split Up Your Cash To Keep Money Safe When Traveling Abroad

To keep your cash safe when traveling, it is always a good plan to split it up into different places. When arriving or moving from place to place, put some in your luggage, some in a secret compartment in your backpack, some in a purse or money belt that is easy to access etc… If you carry all of your valuables in your purse and it gets snatched, you are out of luck. If you carry them in many different places, you might lose some money but not all of it

When you are just going out sightseeing for the day, I recommend carrying enough money for that day only. Keep the rest of your valuables in the hotel safe. This is the safest place to store them.

Carry Your Cash Smartly

Besides carrying your money in different places, there are a few places that are safer than others. Below are some ideas on how to carry money safely while traveling.

• Don’t carry your wallet, cell phone, money etc… in the back pocket of your pants. This is the easiest place for pickpockets to take your stuff. 
• If you have a pocket that zips, use that pocket. AND don’t forget to zip it!
• If you have any hidden pockets inside your jacket or on your shorts or pants that is an even better place to stash your cash. 
• Not all clothing has hidden pockets, so another option is to purchase a money belt or something similar. Money belts aren’t very cool, but they are safe. Osprey actually has a pretty nice looking one. There are other options out there too if you want a more fashionable option, like stash belts, a bra stash, and a hidden pocket that you can add to your belt. You can find them all on Amazon if you are interested.
• If you like to carry a purse, I would recommend one that has a strap that crosses over your body. This makes it a lot harder for people to steal it from your body. I always do this. See the two pictures above!

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Keep An Eye On Your Belongings 

Carrying your money safely is great until you take your purse off and hang it on the back of the chair at a restaurant. If you want to take your purse off while you are enjoying your meal, put it on your lap. This way it is touching you, you will be able to feel it and it is within arms reach. Much harder to steal. 

Also, if you keep your belongings just resting on the table, it could be pretty easy for someone to walk by and sneakily grab your phone for example. We were warned by the locals that this was a very common practice in Medellin. 

Another thing to be aware to keep money safe when traveling abroad is that a lot of time pickpocketing occurs in busy crowds. If you are planning to take a crowded bus or have to pass through a busy area of people. Step back and wait, go around the block or take the next bus. The wait is better than getting your things stolen.

Don’t Show Off Your Money

Lastly, you are more likely to be chosen as a target if you are showing off how much money you have. Don’t wear excessive jewelry, count your money in public, or use large bills. Instead, try to dress to fit in, carry only enough money for the day and use small bills when paying.  

Hope these tips help you keep your money safe when traveling abroad. Happy and safe travels!