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Finance and money forum

What is the best way to carry and spend my cash when travelling

Posted by chelsealear on 26/9/2012 at 09:12

I am planning an extended trip to South East Asia, Sri Lanka and India in December for a year and am quite confused about the best way to carry and spend my cash. I am from the UK and have obviously saved lots of money to go with but I don’t know what the most cost effective way to spend it is as all the different percentages and charges are quite overwhelming.

I have looked into getting a prepaid worldwide passport Travelex card or a Prepaid Caxton card and that way I can withdraw at Mastercad or Visa points worldwide and spend on this but is this the best way??

I am thinking of spreading the money over a pre-paid card, some travellers cheques and some cash and taking my debit card along also.

Is this a good idea? Can someone who has travelled for long periods give me some advice about how they went about it.



#1 chelsealear has been a member since 22/8/2012. Posts: 2

Posted by daawgon on 26/9/2012 at 12:35

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Posted by busylizzy on 26/9/2012 at 14:36

Just take an ATM card and make the largest withdrawals possible - try to find one that mininises international withdrawal fees. Travelex, etc charge a lot of fees (and in some locations, seem to have 'hidden' fees that they have the right to charge without you knowing - my partner got stung for a NZ$25 withdrawal fee once). And a credit card for online booking or larger payments that you may want/need to make.

Carry the cards in separate places, just in case you lose one. Ideally, take a spare ATM card - better yet. I always have a minimum reserve of US$200-300 cash tucked away, too - again in a different location to my main ATM cards. When I'm based somewhere for a few days, I split things between my day-to-day wallet (cash for the day), a separate wallet in my day-pack (30%-50 of my cash, and ATM card), and the rest is left locked in my backpack with spare cards. When I'm travelling, everything goes into my daypack. NEVER leave money in your backpack when travelling on buses, trains, planes.

#3 busylizzy has been a member since 31/12/2007. Location: New Zealand. Posts: 2,152
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Posted by chelsealear on 27/9/2012 at 07:25

Thank you for your posts.

I have looked into Debit Cards that don’t charge to use abroad and Norwich and Peterborough seem to be the only one suitable so Iam going to look into opening a gold light account with these... I will let you know how I get on.

They don’t change for withdrawals or transactions outside the UK and you just have to make at least five transactions a month otherwise they charge you a free of £5 which I will easily be doing.

#4 chelsealear has been a member since 22/8/2012. Posts: 2

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