Woman using money belt

How to safely carry cash in other countries

Here’s how to keep your cash safe — both before you leave and while you’re travelling.

Debit and credit cards may be widely used where you live. But there are no guarantees when you’re travelling abroad. In many parts of the world, cash still rules.

Before you leave

Do some basic research

Before you visit a country, check online to see if it’s mostly cashless or cash-dependent. It’s worth doing a quick online search to save yourself the headache later.

Also check the type of currency the country accepts and whether it accepts multiple currencies. For example, visitors to El Salvador may be surprised to learn that its official currency is the US dollar. And in the Bahamas, citizens use both the Bahamian dollar and US dollar.

A–Z country guide for international money transfers.

Withdraw money in your home country

If you’re travelling to a cash-dependent country, it’s best not to rely on ATMs to retrieve cash. You may run into many problems, such as not being able to find an ATM, having issues with an ATM that’s out of service or getting hit with unexpected ATM fees.

Consider taking out cash in your home country before going on your trip. It’s a good idea to stock up on small bills: If you’re travelling to a cash-dependent country, vendors may not always have change for large bills.

If you’ll get cash while travelling, know where (and where not to) go

Depending on how long you’ll stay abroad, you may need more cash than you feel comfortable carrying. If so, do a bit of research beforehand so you’ll know where to get cash.

Check if your bank has branches or international partners abroad that can waive cash withdrawal fees. Also consider looking into international money transfer services for large expenses like rent or car payments.

Discover how to transfer money for international cash pickups.

Be wary about traveller’s checks

traveller’s checks can be a convenient option for getting cash overseas. However, you may have trouble cashing them in if you’re going to a remote or developing country.

Further, it may not be easy to get traveller’s checks in the first place: Many banks have stopped issuing them. If you do get them, you could incur heavy fees to cash them.

Consider travel insurance

Some travel insurance policies cover you for stolen cash. Confirm whether your policy does, or consider getting a policy that includes cash protection.

Know the rules for bringing large amounts of cash overseas

Many countries require you to declare the cash you’re carrying if it exceeds a specified amount. For example, if you’re bringing the equivalent of 10,000 Canadian dollars into Canada, you need to declare the cash to customs officials.

Storing and carrying cash

Take just the right amount of cash for the day

A simple precaution is to take only the cash you’ll need each day. Store the rest in your room.

Put your cash in a safe place

Storing cash in your hotel room safe is a great option. If your room doesn’t have a safe, ask the front desk if you can store your cash in the hotel safe. (Protect yourself by getting a written receipt, if you do so).

Don’t put all your eggs in one basket

For any cash that you can’t (or choose not to) store in a safe, make sure it’s not all sitting in one place. Store your cash in different nooks of your room, and keep a bit of cash on your person — in pockets, bags or money belts.

Compare your international money transfer options

If you don’t want to carry a large amount of cash, consider using a money transfer company to send money to your bank account overseas. If you need cash, you can organize a cash transfer through companies like WorldRemit.

Rates last updated October 17th, 2019
Name Product Min. Transfer Amount Transfer Speed Services Description Online Transfer Fee Rate Amount Received
WorldRemit International Money Transfers
CAD 0
Within an hour
Online, Bank Account to Bank Account, Cash Transfer
Use code FINDERCA and pay zero fees on your first transfer. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
XE International Money Transfers
CAD 0
1 day
Online, Phone, Bank Account to Bank Account
Send money in more than 60 currencies. Fee-free international money transfers with a global brand.
Exclusive: OFX (Ozforex) International Money Transfers
USD 150
1 day
Online, Phone, Agent
Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
TransferWise International Money Transfers
CAD 1
1 - 2 days
Online
Make online transfers with transparent exchange rates, low fees and low minimum amounts.
CurrencyFair International Money Transfers
CAD 5
1 - 2 days
Online
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
CurrencyTransfer International Money Transfers
GBP 5,000
1 - 2 days
Online, Phone, Bank Account to Bank Account, International Money Order
Aimed at larger transfers, CurrencyTransfer is an online marketplace that lets you shop around for the best exchange rate.
TorFX International Money Transfers
CAD 2,000
1 day
Online, Phone, Agent
TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.

Send money overseas in 45 currencies.
Venstar Exchange International Money Transfers
CAD 7,000
1 day
Phone, Bank Account to Bank Account
Venstar Exchange offers competitive exchange rates and zero fees on large transfers over US$10,000.
The ‘Rate’ and ‘Amount Received’ displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

Compare up to 4 providers

Obtaining and spending cash

Be careful where you get cash from

If you need to obtain more cash, do so only from reputable sources. Exchanging money with street vendors comes with a lot of risk — you may receive counterfeit or outdated currency.

If you’re exchanging your currency for another currency, check the exchange rate and make sure it’s not too far off from the mid-market rate.

What is the mid-market rate?

The mid-market rate is what your money’s actually worth on the global market compared to another currency. It’s the midpoint between worldwide supply and demand for that currency — and the rate banks and transfer services use when they trade among themselves.

Ask about cash discounts

When you use your credit card in a store, the vendor typically pays a fee to its credit card company. Many small business prefer cash payments and may give you a slight discount if you use cash. It never hurts to ask!

What to do in emergencies

If you’re robbed

Hopefully you’ll have cash stashed away in a money belt or an inside coat pocket. While the thought of being mugged is unpleasant, you might want to carry a bit of cash in your pockets to relinquish if you’re robbed. It goes without saying that if you’re being robbed and your safety is in jeopardy, just hand over your cash.

Alerting the authorities

If your cash or valuables are stolen, alert the police and file a report. Although you may not get your possessions back, it’s still worth telling the police on the off chance they can recover what you lost and warn other tourists.
Learn more about emergency money transfers overseas.

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