7 Smart Alternatives for Carrying Lots of Paper Cash When Travelling

Travelling with large amounts of physical cash can quickly become a source of stress, as it’s rarely recoverable once it’s been lost or stolen. To start with, you always face some risk of losing money accidentally, whether you’re going around bustling urban centres or quiet, remote areas. Pickpockets are also adept at identifying tourists who are carrying large sums and may target you specifically if you stand out. The last thing you want is to find yourself in a vulnerable position so far from home.

For these reasons, it helps to be strategic about how you carry and use your money while traveling. While it’s always advantageous to have at least a small amount of cash on you, combining different methods for managing your travel funds can reduce your overall risk and help you maintain access to funds even if a problem occurs. There are also now many secure digital alternatives to carrying physical cash that can help you safeguard your finances better, all towards allowing you to enjoy your travels worry-free.

Let’s look into several practical alternatives to relying solely on large amounts of paper money:

1) Credit and Debit Cards

The convenience of credit and debit cards extends well beyond everyday use at home. These cards can be a lifeline while you’re travelling, as you can use them to make purchases in most locations without needing to carry cash.

Many financial institutions offer travel-friendly options that allow you to withdraw local currency from ATMs or avoid hefty transaction fees. And if you’re using a rewards card like Maya’s Landers Cashback Everywhere Credit Card, the best cashback rewards card in the Philippines, you can earn points that will reward you for every future trip you make to Landers. As a Landers member, find opportunities to use your card for future trips and save on your purchases at Landers Superstore.

Just make sure to notify your bank of your travel plans before you set out. This will prevent any disruptions when using your cards. It’s also an opportunity to clarify what fees might apply for international use.

2) Prepaid Travel Money Cards

Travel money cards are preloaded with a set amount of foreign currency and are not linked to your bank account. This makes them a safer option in the event of loss or theft. For many travelers, these cards are the go-to option for keeping their travel budgets under control while also guaranteeing their access to local currency.

These cards can also be beneficial because they lock in exchange rates ahead of your trip. This means you won’t be affected by fluctuating currency values during your travels. Plus, you can reload them if needed, so you have the flexibility to top up your funds without the direct risks associated with carrying cash.

3) Mobile Payment Apps

Using mobile payment apps while travelling allows you to leave both cash and physical cards behind. They’re contactless payment options you can use through your smartphone or smartwatch, and they’re increasingly accepted in many countries.

Do note, however, that not all destinations have widespread infrastructure for mobile payments just yet, so it’s wise to research their availability at your destination beforehand.

4) Digital Wallets

If you want an extra-streamlined way to pay for purchases while travelling, digital wallets are another efficient way to manage money without needing to carry physical cash or even cards. Simply store funds electronically in your wallet of choice and you’ll be able to transfer money, pay for services, or even split bills in just a few taps.

One of the primary advantages is the security: digital wallets eliminate the need to expose your financial details during transactions, and you can easily top them up straight from your bank account.

5) Foreign Currency Apps and Online Transfers

In the age of digital banking, foreign currency apps have emerged as a strong alternative to traditional currency exchange. You can use them to convert and hold multiple currencies at competitive rates, often with lower fees than you’d see at a currency exchange counter.

Some even offer virtual debit cards for spending in local currencies, which can help you avoid fluctuating exchange rates and minimise fees. And in the event that you need to send or receive money while abroad, online transfers to local accounts can be a lifesaver.

6) Smaller Bills

Digital solutions may be convenient, but it will still benefit you to carry some cash on hand, especially in areas where card payments or mobile apps aren’t widely accepted. Bring along smaller denominations of currency to reduce risk and make quick transactions smoother.

Smaller bills are especially useful in local markets, for tips, or when taking public transport where card machines might not be available. Whenever you break up your cash into smaller amounts instead of carrying large sums, you’ll be able to minimise the risk of drawing attention to yourself and making yourself a target for thieves. You may also find it easier to keep track of your spending this way.

7) Travel Wallets and Money Belts

Wherever you travel, you’ll always need a way to store your cash, cards, and important documents safely. Money belts and travel wallets are both secure and discreet since you typically wear them under your clothing to make them hard for thieves to access.

There are even certain types of travel wallets designed to look like something else, like a water bottle or a book. With the right tools, you won’t have to worry about your money being stolen even while walking through crowded tourist areas or using public transport.

Ultimately, you’ll be safer and enjoy greater flexibility if you travel without relying heavily on physical cash. A mix of modern alternatives can ensure that you’re well-prepared for any situation without the worry of losing access to your funds. The more secure your finances are while you’re abroad, the better equipped you’ll be to navigate the unexpected with confidence and enjoy your trip to the fullest. Happy travelling!

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*This is a collaborative post. Photos courtesy of Unsplash.