No matter how long you are going on holiday for you will need access to money to pay for things. And you have probably asked yourself how much to take overseas? And how will you take your money overseas? So you don’t get caught short you should carry your money in a combination of different ways. This is because if for some unfortunate reason you lose your money or it is stolen you have a back up source to get you through you holiday without too much disruption. Here are the best ways to carry money overseas.

5 Popular Ways To Carry Money Overseas

Cash

Cash is always good to have. Organise to have the some of the currency of the country you are heading to before you leave home. The equivalent of a couple of hundred dollars of your currency should be enough to last you for your first few days. During this time you can get your bearings and find out where you might be able to get some more if needed. Take some small denominations of local currency with you for your arrival. You may need small change to buy a ticket on public transport from the airport. Also for tips and possibly to buy a drink or for other small incidentals when you arrive. If you only holiday with cash ensure you have somewhere safe to keep it such as money pouches. There are a variety of money pouches available. Check out these ones which can be worn around your neck, under your clothes or even in your clothes like in a belt.

Access Your Current Bank Account

Accessing your current bank account electronically is very easy. Sign into your bank’s website or banking app and away you go. You can monitor your account from your phone or electronic device from anywhere in the world, as long as you have wifi! And you can transfer money yourself or be paid into accounts such as PayPal, Payoneer and Wise.

Open a Bank Account in Another Country

When you are working in another country you sometimes need a bank account in the local country. If you plan to work you will need one to be paid into. Your current bank should be able to help you there. They have relationships with other banks and can help you with the paperwork for you to open an account. Or you can wait until you arrive and see whether or not you will need one. For example, when I went on my working holiday to the UK my local bank in Sydney helped me open an account with a UK bank. When I arrived in the UK I identified myself at a branch and claimed my account. I did need an address though for the bank to send my new ATM card to you. Or there are electronic bank accounts such as with Revolut.

Credit Card and / or Debit Card

I’m sure you already know, but in case you are not sure of the difference between a credit card and a debit card, here is a quick rundown on the differences.

A debit card allows you to debit your account. Basically you are using your own money. While a credit card gives you access to money provided by a card organisation. When you use this money there is a fee and interest to pay back on the money you spend. Personally, I try to use my own money but have used my credit card to pay for some things while travelling.

Many people travel with a credit card and or debit card, and use them, for the ease and convenience they provide. Visa and MasterCard are widely accepted around the world. You can use your cards in local ATMs to access your money. Check with your bank about any fees that may apply while accessing your account when travelling. Ensure you have contact numbers available if your card/s is lost or stolen so you can make that call so no-one else can access your account.

And if you travel hack, continue to use your credit card to pay for things while travelling to continue collecting points to further your travels.

Travel Money Card

A travel money card is a prepaid card that can be loaded with different currencies to make purchases while travelling overseas. You can decide how much and which currency to load the card with. It is used similar to a credit and or debit card but with a specific limit. You can also request re-loads while travelling to top up the card. Banks and some travel agencies can issue these cards. Visit your nearest bank or search on-line for information.

Final Words on how to carry your money when travelling

You have worked hard for your money so you need to know how to protect it when you travel. Those mentioned in this blog post are the 5 most popular ways to carry your money overseas while travelling and even while travelling around your own country. As you have read you have a choice available to you. You could take your money in one form or a few but as long as you have continued access there is no right or wrong way how to take your money. If you know of any other options please let us know in the comments.