Today we are diving into the topic of how to keep your money safe while traveling internationally. The fear of pickpocketing or not being able to access your cash, can be worrisome. I get it. Every country also has its own way it uses money too. This blog post addresses these fears and gives you strategies on ways to protect and use your money when in another country.
When we first got to Quito we had no idea how to get any money out of the ATMs. They were all denying our ATM card and hardly any businesses took credit cards. This wasn’t our first time abroad, but any other time we had traveled internationally, we didn’t have a problem like this.
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. Turns out only certain ATMs take international debit cards.
If travel safety concerns are on top of mind for you, check out these other travel safety tips:
- The Best Way To Communicate Internationally
- 8 Essential Tips For Staying Healthy While Traveling
- 7 Valuable Hotel Safety Tips Families Need To Know
- 12 Proven Public Transportation Safety Tips For A Trip Abroad
- Safety In Crowds: How To Keep Your Family Safe
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Use Credit Cards Whenever Possible
You should always do a bit of research before traveling as every country does things a little differently.
Here’s what we recommend you research before each trip: What to Research Before Visiting a New Country. I mention this article because one of those items to research is 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 example, in Albania, credit cards are rarely accepted. It is easy to get your money out though because there are ATMs everywhere.
On the other hand, in the Netherlands, where we live, I rarely carry cash. I actually hardly use a wallet. My debit card and credit card are on my phone, and I use them to pay for 99% of what I buy here. Even for the 1 euro charge to use the bathroom, I can use my debit card.
When I travel, I prefer to use credit cards whenever possible too. There are a couple reasons for this:
- One, the more I use my credit cards, the more travel points I earn. This all equals more travel for me in the end! 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 error. They will remove it and I won’t have to pay for any shady charges. So even if fraud does happen, I won’t have to worry as much about paying an accidental or false 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 in this case.
The only exception I know of is if you are in America. If you aren’t from there, you might find it strange that the waiter will take your credit card to the back of the restaurant to pay your bill and then return it to you.
This is common practice at restaurants. It is starting to become more popular for restaurants to let you pay at the table, but it is slow to change.
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 United 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 abroad.
You May Also Like: What Are The Safest Countries To Visit And How To Read A Travel Advisory
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 at an ATM than at the bank.
When I do access an ATM, there are some rules I follow to stay safe and not get robbed.
- DO NOT use the ATM at night.
- 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.
- Choose ATMs from bigger, well-known banks in that country. This is what was happening when we were in Quito. Once we used an ATM from Banco Pichincha or Banco Guayaquil, we had no more problems.
- Be sure to know how much cash you can get out each day. For example, in Quito we were only allowed to take out between $100 and $500 dollars a day depending on the bank.
Split Up Your Cash
To keep your cash safe when traveling, it is always a good rule of thumb 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 or in a secret compartment in your luggage. This is usually 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! It is even better if they have zippers, unlike mine. Just make sure that they are shut in some way. If the top is open, it is easy for a little hand to grab a wallet or your phone that is inside!
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, which is 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, I had my phone on a table in Medellin, Colombia, and a kind gentlemen, thankfully, warned me that it wasn’t safe there. I guess it is a very common practice in Medellin to steal phones off tables.
Another piece of advice, 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.
If you have no choice but to take the crowded metro, keep your purse on, put in front of you and keep your hands on it. Also, don’t get distracted. Be vigilant of the people around you.
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!
