Options For Traveling with Cash on Vacation

BY Beth Williams

When you go on vacation there is always so much to do to prepare for the relaxing time ahead. You need to pack and figure out what you will need, make prior arrangements for pet care, day care and plant watering. You will also need to get together all your official documents and one very important if not crucial thing you need to think about is travel cash.

When you take foreign currency abroad you have a number of choices of obtaining it. One way to do this is to go to the bank. You will need to first of all find a bank that offers this service and then you place an order for the amount you would like and in which currency. A definite disadvantage of this is that banks usually have charges for this service and you could end up paying for simply getting money in a different currency and this service is usually higher at the airport since they count on last minute travelers changing cash here.

When you do exchange you cash for foreign currency, there is also the risk factor of being in a different country with all that money. Tourists are usually susceptible to pick pockets and theft and you don’t want to lose all your hard earned vacation money in this way. You have no protection against theft. Once it is gone, the cash is gone.

Even if you don’t carry it around and leave it in your hotel room, this could still be a potential area for theft and who wants to go to the trouble of having hotel staff lock and unlock the hotel security safe every time you want to buy a drink or a gift for relatives.

Credit cards are the next option, but you need to think about whether this is going to work for your budget. They are still vulnerable to theft and your signature can be forged. Also the companies usually charge a high interest rate on purchases and fees can be astronomical when you get back to reality.

What might work best for you is to opt for a prepaid currency card. This is usable in all countries and in different currencies. What you need to do is load the card with your holiday purchase cash and then that is all you will need to carry abroad, freeing up more room in your purse for a good book and some candy. You can put any amount on the card and this does not work in conjunction with our bank account so you can keep things separate.

You will get a pin number and you can register as an online user to check your balance and add more cash if necessary. It enables you to take charge of your own expenses without all the costly charges and danger of going over budget.

This is a very useful idea for those who travel. It can be topped up in any currency and is re-loadable and flexible. It works in ATMs in other countries in the same way that your regular card does. It is the best option for vacationers and business travelers. If the card is lost then it can be automatically canceled and replaced so you don’t have to worry about theft.