No matter how long you are going on holiday for, overnight, weekend escape, staycation, 1 month country itinerary or indefinitely, you will need access to money to pay for things. And you have probably asked yourself how much money to take overseas? And, how you will carry your money overseas? So you don’t get caught short, in this post I will explain the best options of how to take and carry your money abroad.

TIP: 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 take and carry money overseas.

5 Popular Ways To Take Money Overseas

When I first started travelling, Travellers’ Cheques were the best way to take money abroad. Most of you reading this will probably not know what they were because like most things, things change and progress over time. Nowadays, some of the best ways to take your money overseas are:

1. Cash

Cash is always good to have. This is because some countries aren’t as tech savvy or have the infrastructure as others and prefer to deal in cash. 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.

Keep in mind that some countries have the US dollar as an official or unofficial currency. Therefore, it is a good idea to carry some greenbacks on your journeys. I suggest you do a little research on what currency is best to use in the country or countries you are visiting.

2. 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. This is one of my favourite ways to access money and keep in control of it while travelling. 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 to yourself or be paid into accounts such as PayPal, Payoneer and Wise.

3. 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.

4. Credit Card and / or Debit Card

After cash, using a credit or debit card are my favourite ways to take money abroad. 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. Particularly the big items like an airfare, accommodation and some entrance fees. And if you travel hack, like me, continue to use your credit card to pay for things while travelling to continue collecting points to further your travels.

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.

5. 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.

Popular Ways to Carry Your Money Overseas

A money pouch is a good option to carry your money overseas

TIP – If you have all your money in one spot, it only takes one incident to loose it all. Whenever possible, divvy up your cash and cards into multiple safe spots. 

Yep, it is best to carry your money and other valuables in different ways. Here are some the possibilities:

Travel Wallet/Purse – I have used a travel wallet that holds my passport, credit cards and other important documents in the one place. 

On-body Storage can include money belts that can be warn around your waist or neck.

You can hide your money in clothing that has a secret compartment. These can include in ties, in secret pockets, scarfs, pant belts and boots with zippered hideaways. Or a hidden compartment in your luggage.

Carry an Anti-Theft Bag. Luggage nowadays is quite savvy. There are many on the market made of slash-proof fabric, locking zippers and steel cable reinforced shoulder straps. All pretty useful to help stop potential robbers. I love my cross body messenger bag.

TIP: Have a decoy wallet. This means you will have two wallets. One used as a decoy and might have a small amount of money in it for the day.

Final Words on how to take and carry your money overseas

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 most popular ways to take and 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 and carry your money. If you know of any other options please let me know in the comments.