How Much Cash Should You Travel With?
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- čas přidán 31. 12. 2023
- Ever wonder how much money you should take with you when you travel? Here is what we do.
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If you visit Sweden - bring ZERO cash! I live here and I haven't used cash in years. Many places don't even accept cash.
Same in Norway.
Took 3,000 KR with me - came back with 3,000 KR
There were a few times they only took Swish in Sweden, begrudgingly, the cashier did take cash (probably paid for it herself and kept the cash)... Luckily, those are exceptions.
Same for the Netherlands. The only reason I keep some cash in my wallet is for the occasional trip to Germany (I live close to the border).
Do keep in mind that quite a few places don't accept credit cards. Debit card is king here.
So you use a credit card or bank card to withdrawl money from the bank when traveling
I follow these recommendations in England - get 200 pounds from ATM as soon as I land, and carry AmEx and VISA cards, ALL of it in a money belt around my waist along with my passport. Another suggestion: contact your bank and VISA before you travel so they know you will be abroad. We failed to do this once and the credit card wouldn’t work until we sorted it out by phone. Regarding ATM’s, I prefer to use ones that are linked to a bank building, not those at pubs or gas stations.
In Belgium there is only one ATM system, Bancontact. So it doesn't matter which one you use.
What's the point? Just use Revolut or Wise etc. Currency accounts rather than using cash 🤷♂️ no fees. Always the best currency exchange. No fees when drawing cash from atm. USA is bit behind with banking. No need to call bank if going on holiday. Some banks have this option in their online banking. Other wise is not required. And why carry passport to begin with. Should leave it at the hotel. Better to carry driving license.
Most U.S.-based cards and banks no longer require notification of foreign travel. I know because I travel a lot and often call my card companies and bank before leaving, to be safe.
Also, I just spent three and a half weeks in the UK this last summer, and the 200 pounds I had in my pocket at the beginning was still in my pocket toward the end. I had to start to deliberately find ways to spend the cash (which I successfully did by the end of the trip).
@@deadzio In some countries if you get stopped by the police and do not have your passport with you, that can be trouble. I got a passport card along with my passport. I use that when I go out. It looks similar to a national ID card which the U.S. does not have. The problem with your driver's license is that it has your address on it and if it get stolen, then the thieves have your address which could be used for nefarious purposes.
@@RTDoh5 you just need color copy of passport or driving license/id if you are european
I totally agree with all of this! We kept an emergency $100 USD in our money belts “just in case” and kept our bank cards in there, too. We also took out a larger sum to avoid constant trips to the ATM, keeping everything in our money belts, minus a day’s spending cash. It really is great that so many places take cards.
I travel in the other direction, from Europe to USA and I normally bring around $150 per week I'm there. Spend them on tips, street food, local farmers markets and small shop in the rural areas I normally visit. And sometimes for gas to save a few cents. 😊
Around $50 in the local currency is the max I usually do unless I’m traveling somewhere like Japan where cash is still the standard means by which most people pay for things. I don’t like to carry or use cash either at home or abroad, and it’s so rare that I actually have to that I don’t see the point of taking out more cash than I’m likely to spend. Having enough to tip tour guides and buy street food is plenty to me.
Keep it in multiple pockets
Good video.
Travelling for a week, I'd have about £100 in the local currency. And the hundred bucks was a lifesaver late at night at Rio's international aiport when my pre-booked taxi didn't show and the ATMs rejected my debit card.
Abroad, I make a point of keeping my credit cards apart. I hate the idea of being both stranded and temporarily broke.
AS a German living in Germany, I would suggest 100€ in 10€ bills. Some kiosks or bakeries may only accept cash, and in rare occasions some restaurants only accept cash. If the bill is higher than 10€, Itry to pay with my Visa card.
Good advice! I always come home with some foreign currency on purpose- especially if it's a place I know I might go back to in he future. I like landing with 20 or 30 dollars in my pocket so I am not so stressed to find a bank machine or if I want to buy a snack etc before heading into the city. When I get home the extra currency goes into an envelope and filed. I tend to mainly travel in Europe so this works. I bring 2 credit cards so in case one has an issue I have the other. And don't forget to get a pin number for it, you will need it!
Bring your Amex, but also a Visa or Mastercard as they are more widely accepted. It's worth calling them up to unlock abroad spending (if not already). You must have cash for unexpected taxi rides, coffee, small snacks, tolls or a quick bus ride. Around $200 worth in your pocket is good to have. Basically have all options so you don't panic.
Excellent advice - as always.
This is a great topic. Thanks!
Thanks for the tips 👍🏼 Wishing you a fabulous new year. ✨
Europe, especially Scandinavia, it is hard to use cash.
Same with London.
I'm so glad I watched this video. I've been wondering how much money I should have, in my wallet when I travel. This is really useful information.
Happy new year and congrats on 1 million subs!!
The tax/fee at the hotels during checkout in Italy all wanted cash, the average was €30-€70 depending what city we stayed, except for the one in Rome they accepted Card however the hotel required we pay it before we were allowed to check in.
This is good to know. Every time I've been to Italy, I've stayed in an Airbnb.
@@renferal5290 what do you think about staying at an Air B&B? How are the rates?
@@1R3VOLUTION I've had excellent luck with them. I got a flat in Florence for a week, that was about 400 dollars less than if I had booked a hotel. It was a really nice flat too. This summer, I'm going to Rome and I got a room with ensuite for 7 days, and only 300 dollars. It really is worth looking into. I've used them for years and have yet to have any issues.
Great tip,Happy New Year 🎉Mark !!
HAPPY NEW YEAR, Mark! ¡Feliz Año Nuevo! 🎆🍷 😉😎
I recently spent a month in Bangkok, I placed my spare cash in the room safe and thought no more about it. Two weeks later, I decided to check, and found that my room safe had been skimmed. Two separate plastic pouches that each contained exactly £1,000 each, now contained £500, and £420 respectively. Since the hotel takes no responsibility for any cash left in these room safes, there was nothing I could do about it. In future, I will not take cash for emergency backup, instead rely on 6 or 7 debit cards.
This safes can be opened by default codes you can find online ;) and there is always service code which is also known by staff in case you forget your code. Most of this safes are not safe 😁 Lock Picking Lawyer opened many of them. With no tools.
@@deadzio I learned my lesson. Thank you.
Happy New Year! Wishing you good health and safe travels in 2024
The very first thing Mark said is key: it varies by country. Do some research before you go. In some places you’ll be stuck without the local currency, whereas in other places you wouldn’t be able to spend that 200 dollars worth of local money. Yes, keeping some emergency cash on you is good always, but beyond that it depends on the country.
Thank you😊
The $200-300 guideline is good. I usually just take whatever residual Euros or Pounds I have, in the case of Europe/UK, and that is plenty till I get to an ATM. The conversion thing - both on ATMs and on the credit card terminals - is a huge piece of good advice. Even if your card charges transaction fees, which you should be avoiding when you get a card to start with, youre still doing better in USD or your home currency
Quite a change from my experiences 25 years ago in Europe where cash ruled.
When I was in London for 2-3 days I didn’t bring any local currency with me. And I didn’t need to either or use the ATM. I used credit card all the time, even on Christmas markets. Didn’t have any problems with it.
However when went to Berlin afterwards I did have around 30 euros with me and used the ATM to withdraw additional 50 euros, and it was a need for it. So it depends on where you travel.
I would also recommend having at least two credit cards with you. Because sometimes one doesn’t work and you are kinda stuck.
always travel with two cards
Hi, thank you for all your videos - they've been really helpful for me. I'd love to know what you and your family think is the most stressful part of traveling and how you mitigate that!
I always carry cash to tip "helpers" such as doormen, luggae handlers, transport people if arthritus acting & need wheelchair. Also even if tip included in credit card transaction I might enter a lower percentage and give a cash tip as well.
I fall on the other side of the scale and estimate how much I'm going to spend and then convert at my bank and take that in local currency (almost always Euros for me) and take that with me (exception being paying for hotels where I use a CC if I've haven't already pre-paid). Helps me in my budgeting. Have seen a few places post Covid that are card only but still not a lot and those were primarily small stall like food vendors. I also take a few hundred in US dollars in 20s for my emergency fund. With my trusty ScotteVest on, I feel good about not being pickpocketed (fingers crossed).
I know that tipping in Europe is not required, but when I do, I tip in cash.
Love your content! Have you ever been to the UAE?
Spot on, as usual, thank you. The only exception I've found is in some of the more remote or poorer countries. Was in Micronesia and only about half the places took a card. Also countries with open air markets (Ecuador and Egypt are two recent ones for me), cash is preferred (while some vendors have a card reader attachment for their phone, they tended to be iffy). Haven't been to Cuba (yet) but have heard that credit cards aren't accepted.
Cash is preferred almost everywhere in Ecuador and of those places that do accept cards, most will add a convenience fee. So, cash is king (U$D)
Depends so much on where you're travelling. Recently in Croatia, many smaller coffee shops and markets will only take cash. At least they now use euros so so any cash leftover can be easily used on another trip.
About $100 USD for tips if needed and if I need local currency, I will go to a BANK ATM using my bank ATM debit card, taking out what I need. I/you get a better exchange rate using a bank ATM machine. Plus, my bank does not charge me an ATM fee. They also will reimburse me if the foreign bank charge me an ATM fee. DO NOT use an ATM at a bar, store, free standing or a hole in the wall place that will exchange currency. You will get a very bad rate of exchange and may even get charge a fee for their service. Plus, as said most places will take your credit card with no issue using those little machines right in front of you. VISA and Master Card preferred.
Zero cash, I always use card. Unless your in Poland looking for dates, then bring some 20s 👀🍻
Good advice about having the card transaction done in the local currency instead of in our own currency.
Wise card works really well too we found
I'm going cashless to London in 2 weeks. My friends who are locals have told me I'll be fine. I haven't carried or spent cash in years and don't want to start now. Will report back, lol.
Great advice Mark! I learned this one the hard way!! Weekend trip home to Boston from Dallas. Brought my new girlfriend with me. Our trip got delayed and we landed at Logan around 1 am. Great. There were taxi's available, but my "go to" taxi, well they don't run 24 hours from my hometown, which is where we were going. I did NOT have any cash, having spent it at DFW...stupidly. So we had to wait 20 min for a "Taxi that takes a card" - oh yeah, this was 2003, not recent. The taxi's card reader failed. We had to go find an ATM, and get cash. We got to my sister's place (which was 4 miles from the airport) about 2:30 am. The good news...my Boston car started right up the next day and ran great all weekend. Doesn't every one have a car at their travel destination? Sadly I don't anymore. haha. End result was, if I'd have had that money hidden in my wallet, I'd have been good with any taxi, and we'd have been to my sister's place by 1:15 am.
We visited England this summer and needed cash for laundry. Then we decided we would pay to have our laundry done! Everywhere was credit card friendly.
If you travel to Latin America, Africa or SE Asia, cash is preferred over card, so take more with you.
with modern banking, we only carried around 40 pounds at a time. the thing I found important was to always have a few pounds in coins, because sometimes you need a coin for something.
I was in Ireland in 2022. I planned on $1000/week and carried cash. I stash the cash in different locations but only used a card for a rental car. I prefer cash and convert $200 at a time.
Wife and I carry 200EU each from home for a two week trip. I do not care about getting cash from a cash machine. We use mostly credit cards and use cash only if we don't feel safe in using credit cards.
Totally true about not just giving your currency even if they say they would take it because they put the lowest possible conversion and it is fixed forever! (eg. in CR, they even post prices eg. x colones or y $ at the lowest rate! so you’d lose money every instance! Also I learned that even if a store looks very small and in a remote place, it wouldn’t hurt to ask if they take card and most often they do (depending on where you are perhaps). I didn’t notice since I didn’t see any customers using card and I am not sure how it works with currency conversion through credit card but it seemed I’d have still saved a lot!
I had two weeks in Boston in September and took $100.00 with me and out of that I spent $10.00 as a tip to an assistant helper at Logan airport.
Most of our travel is central and Eastern Europe with a bit of side to the Mediteranean. If know which ATMs to use, you can always get cash. We do always take $10. in Euro coins for public rest rooms. Our credit and debit cards are split up between us, "just in case."
So last month we visited Germany fir the first time and decided to take Euros from an ATM. We found an ATM outside of a McDonalds in a busy area of Munich and it was built into the building. I took out €400 and the machine did not provide a receipt. I checked my bank account later that day and found that I was charged an additional €129 fee. Since the machine was built into the wall of the building, we didn’t question its legitimacy. I guess it wasn’t affiliated with any legitimate bank and now I’m out €129. This was a pricey mistake and learning for us.
I think it depends on if you are traveling in the developed world vs developing.
Especially if you are in rural areas of the developing world. Where you definitely need more cash.
Good tips in general though. Having a backup stash is good. We usually have 2 incase something happens.
My wife and also carry different credit cards in the event one is lost or stolen it doesn't shutdown all the cards.
About 90-100 Euros a day in Europe was enough for me
$200 local equivalent is more than plenty. OTOH we just spent 4 days in London and didn’t use any of the pounds in hard currency we had left from a previous trip. Same in Scandinavia which are pretty much card only.
I love my AMEX too, but like you say, not that many places will take it.
Backpacking in South America I kept my large cash reserve in the rolled-up trouser-legs of my jeans (in a thin plastic bag for the eventual rain. These jeans were always somewhat used and non-attractive. The reason? Should I happen to be robbed they know all the normal hiding places like moneybelt w. zipper etc. Under the inner sole of the shoe is also known and isn't a safe place; if nice shoes they might even steal them. But in the roll-ups on old trousers? No. I got robbed twice and they never found it.
I went to UK and Ireland and only had to use three times. In taxis and laundry because the app wouldn't work. I managed to use the cash except for a 50 pound note because i don't think many places have that much change. Always useful to have some. India cash is king and Germany cash is king.
❤❤❤❤
Cash is good for tipping if you have travel guides.
Wolter, I live in Northern Brazil and I believe the opposite. The only time I lost money was when someone used my card# to withdraw money from an ATM in Rio. Now I know you have been around, so I live 6hours NORTH of Fortaleza, just shy of Jericoacora - no where near Rio. They got my money from using my CC# when i was at a gas station or grocery store. It is always my belief that you will lose whatever you may have in the local currency, however you can lose almost your life savings if they get your credit card.😎
I was hoping that he would discuss Asia. I go to East and Southeast Asia and they rarely take credit cards outside of malls and big hotels. I end up taking most of my spending money in cash. I don’t like it but that it how in works.
That is so true about England 😆 I had cash, but nobody wanted to take them.
Try Sweden it’s even worse
I recommend $100,000. Thats what I usually pay to bribe my way out of where ever I go.
Places that can afford to track you prefer you use a payment method which can be tracked.
I'm from the Uk and just returned from Tenerife, if you use an ATM and select the local currency they now charge 5-7 Euro's per transaction, so just a heads up
Mark, we are going to Tanzania this summer. I know tios for guides, drivers and lodges want U.S Dollars. How much should we take in Tanzanian Shillings? We are not big shoppers. Thanks, love your videos.
I went to Brisbane Australia, and I took zero cash. They took card for everything.
Are you going to Whitby?
Mozambique which is a popular destination in Africa for backpackers etc cash in Euros, Dollars and South African Rands is more readily accepted, with USD cash being the most popular. Drawing cash charges are expensive, is as the poor conversion rate for paying with card. They have only just introduced tapping with card payments and Visa debit cards do not work on certain P.O.S. machines. Best to take a Visa Credit Card to pay.
as an aside, have you ever tried to fool a pickpocket by placing a dummy wallet full of expired credit cards and fake money in your back pocket?
Take as much money as you can.
Japan is still a pretty much cash orientated country, but cards are slowly becoming more acceptable.
Wow, lots of small businesses in Canada prefer cash as the fees for them are too high on debit and credit cards. And the exchange rates charged by the financial institution on the consumer is ridiculous.
If the destination doesnt have a sufficient network of credit card then I usually try to pre-purchase as much as possible.
Went to the cook Islands In 2022 & I was surprised of how well covered the island was. But I still brought 3-400 nzd's and shopped for the most essential In auckland before heading for the airport. The limit In terms of credit card was actually signal (just like your phone).
When I travel I used to have 3 cards.
Visa & mastercard from my bank & until now I had an external mastercard (for fear of getting hacked In asia).
Nowadays In 2024 i rather swallow the roaming charges If my plan dont cover them and swipe the card Is now blocked.
Local currency Is a big deal for me:
I almost paid 8 dkk for 1 euro In Amsterdam In 2012. Ever since i never accepted the terminals convertion.
Would you ever travel to southeast asia, like thailand or vietnam?
For a solo trip to Paris for one week I took 150 euros with me and about 50 USD. Came home with 20 euros and change and my $50. Used my Visa debit for everything else.
Question? Should I buy exchange currency at the airport upon arrival or from my personal bank before leaving?
Copenhagen is card only?
$200 is about right. Be aware that when traveling in the countryside many places don't take plastic. I found this to be especially true in Germany and France. Also, I like to bring about $50 worth of Euros back with me, especially in change and small bills. It really comes in handy when arriving at an airport so that you don't have to exchange money at an ATM until you reach your in-town destination where the rates at a bank ATM may be a bit better.
I would like to go to London later on this year. I don’t have many credit cards so do you have suggestions on traveling/booking accommodations without one? Are there certain cards you recommend?
Visa and Mastercard are widely accepted, and companies like Revolut and Wise have the best exchange rates for travelling in countries outside of your country/monetary zone. There might be others around, too, I haven't really looked. Most banks offer either a Visa or Mastercard credit card, with very different conditions, so you have to do your homework. Some offer points, or air miles, many have an insurance, but of course, the cheaper the card, the less benefits. I have a no-frills card without most insurance, but it's virtually free with my account package, while if I'd pay 5/month for a 'Visa Gold', I'd get a broader insurance (travel, breaking, theft...), a higher limit, etc. I don't want a higher limit and already have insurance, so...
Exactly: it depends where you are going to go... Thailand for example: with soo many card skimmers and cc fraud, it is a good idea to travel with and use cash. Many other locales: strictly cc. Although, I do not understand establishments accepting only cc as the lose 4% right off the top and that 4% can make, or break many businesses.
Only a fool would travel w/out some extra cash stashed for Emergency, because ya never know! Life is meant to be an Adventure!
Handling cash has its costs too, and more risks.
In the U.K. don’t rely on Amex as many places don’t except them because they charge the retailer more than Visa/Mastercard which are accepted at 90% of places. York is a great place to visit, preferably before Easter as it’s less overcrowded. 😁
So what would you recommend for travel to Germany, they still prefer cash I know the hotel takes cards but most restaurants don't
Hello,
big chain stores accept credit cards but small stores or single stores don't because the have to pay to much for the money transfer.
I recommended you to take cash at german banks. Beware of pickpockets so don't cary a lot of Euros with you
so.. odd question traveling with medicine. I ask because if I go somewhere besides Canada what information would be very wise besides keeping it in a pharmacy container. I'm type 2 diabetic I take pills for it and would like to know how to navigate the customs and legal systems to go abroad
Is this recommendation per person? If you're travelling as a couple, should you both take this amount of cash?
the cash you take when traveling can also depend on the standard of living of the country where you are traveling
an example: my dream is to climb Kilimanjaro, that is to say the highest African summit. However, the average monthly salary in Tanzania is 100 dollars, if you walk around with 2 months' salary from a local, maybe that's a lot?
There are 2 kinds of prices, those for the locals and those for the tourists. You'll spend your $200.
What about debit cards?
If you only have big bills, can you go into a bank in the country you're visiting and ask them to break it? My bank sent me big bills.
I usually go with 20% of the amount of money I'm planning to spend in cash in case I need it and the rest stays in my bank account.
Question. Are you able to exchange euro bills, for a roll of €2 coins in most banks in the eurozone? How many €2 coins are in a roll. Is there generally a charge to do this? Thanks. This would be for tipping tour guides.
The Belgian National bank issues rolls of 20 €2 coins. May be different in other countries. Whether a bank (or post office) wants to exchange coins may depend on the general policy, local willingness and luck (number of coins available) of that bank. There is also a tendency towards cashless banks.
Best thing to do is to check online whether a bank offers this service, if you have to order in advance and if there is a charge.
Germany might be the only place where cash is still king.
I bring my VISA and about $500 worth of local currency, which I get before I leave(if possible)
300 is too much unless its a cash only county. You send yourself they wouldnt take cash and you had to bring it home.
Can you explain what you mean by "don't ever take the conversion they offer you"? I've never been in such a situation and those words... don't add up lol. Do you mean don't take American money from a foreign ATM because they'll give you a raw deal?
When you get cash from an ATM (or you're paying for something with your card), you may be asked whether you want your card to be charged in your home currency or in the local currency. (Search for DCC) The advice here is simple: always choose to be charged in local currency, not in your home currency.
How much should you carry in euros in Germany as they seem to prefer cash.
More than I would carry in Austria.
In Germany you can pay almost everywhere with cards. But a little bit cash is good so 200 300 Euro is ok.. And when you need visit the next ATM. Maybe when you visit Switzerland, there you can pay everywhere with cards.
When I used to pay ONLY with cash in Berlin I used to budget for 90 euros a day. I wouldn't recommend getting loads of cash out and walking around with a lot of it on you - just get out what you need every day or so
I never travel with any
Don't fall the credit card scam. Pay always cash wherever it is possible. Don't give up your control over your money.
Ill be in London and Edinburgh next month for a total of 7 days and I have $1550 usd to spend for roughly $221 per day. Will that be enough? I already have flights and airbnbs purchased so its $1550 all for me to spend
I would exchange $100 - $200 of that in £££ and keep the rest as a reserve.
Don't expect anyone to accept $$$ ! Even if they do you'll probably lose big time in the conversion rate.
Beware that besides the "national" (English) ones Scotland has its own banknotes issued by a few Scottish banks. Get rid of those before you leave Scotland (or keep them as a souvenir).
Imo that should be more than enough to have great food and pay entry/ticket fees for places.
more than enough (I would have said that $100 a day is about right) - depending on what you want to do (don't forget there are plenty of free things to do, plus of course there's usually a meal-deal option at supermarkets if you really want to cut down on what you are spending for lunch - and want to splash out in the evening)
@@AndyKing1963 ill mostly do free to do stuff. I really wanna go to the Scottish highlands
Do you have train tickets or flights from London to Edinburgh hope so. You have about £170 per day that’s not a lot if you like to eat out and drink alcohol. But you can have a good time with that sort of cash per day.
🇰🇷 = < $50, card is king, only street food vendors want cash
🇯🇵 = > $300, 10% of places are cash only, station machines are cash only, cash/coin vending machines are everywhere
I bring 500 in local currency, but 200 is for drugs
I’d say between 1000-1500 if it’s a week travel
I don’t carry a purse. I put my cash and cards in a small wallet then put it in my bra. 😂😂😂 Nobody ever notices. 😂
you look like a friendly Alex Jones.
Why?
Alex's Jones sane brother. Mark Jones. The pair were inextricably torn apart in the womb, it was foretold in the runes that they would be born conjoined. A demon and an angel had a chess match. It ended in a stalemate. The demon possessed one half of the fleshy mass, the angel the other. From the very first Alex and Mark were at each other's throats, nearly killing each other in bloody brawls that would last hours to the horror of their parents. In the end they needed to be separated. The instigator and all around nuisance that was Alex was put up for adoption. Cast away from the brood. Mark and the rest of the Jones' lived on happily but they could never know the truth