How to "carry" money for 4-5 months travelling?

[v15ben]

Folks,

I'm heading off travelling again in August for about 4-5 months. I'll be in China, SE Asia and Myanmar, maybe the USA as well before returning to the UK.

My question is, what is the best way to carry my spending money.

I'll get some US dollars in cash as a back-up and for visas, but what about the everyday stuff?

I bank with Halifax so was thinking of getting their Clarity Credit Card which seems to have low fees and good exchange rates for overseas purchases. I was thinking of using this mainly for ATM withdrawls. Does anyone have one?

I was also looking at a pre-loaded cash card like Fair FX or Canton FX as a secure method which should work in most places like a normal debit card. Does anyone have any experience as to which is the best of these cards? I've read mixed reviews online!

So, my theory is to carry cash in 3 methods. Some US $ in cash, a credit card for ATMs/some purchases and a pre-loaded cash card for purchases and as a back-up.

How does that sound and what did/do you do abroad?

[Matt Harper]

You don't need cash in the US - pre-paid debit card, safe, secure, easy.

[uk_vette]

You don't need much cash in China, just use cc, or go to the ATM's and used DC to draw out.
So easy.

vette

[v15ben]

Matt: I guessed the US would be the easiest, probably just use credit card or my girlfriend's account over there!

Vette: I did read about going into a bank with my passport and card to make a withdrawl, not something I'd ever thought of but it makes sense. Something I'll probably do.

[Amateurish]

CC for paying, DC for withdrawing cash. Don't use the CC for withdrawing cash.

[durbster]

Yep, just use a DC at ATMs and get out what you need for a few days or a week. Nationwide DC has minimal charges (used to be free) for using it abroad so set up an account with them if you can.

I rarely take a load of cash with me when travelling, there's really no need these days.

[louiebaby]

Amateurish said:

CC for paying, DC for withdrawing cash. Don't use the CC for withdrawing cash.

Exactly. A couple of US$100 notes stuffed somewhere for emergency official bribing might be handy to have on you.

Depending on who you bank with, it might be worth letting them know you're going too, as putting a stop on all your cards might be a tad inconvenient.

[v15ben]

Yep I was thinking a couple of hundred US$s for emergencies, although Burma and Cambodia use US dollars as the main currency, at least for travellers paying for hotels and such so I'll stock up on some smaller notes as well.

I have a Nationwide Flex Account with a debit card so that might be worth using instead of a Credit Card for ATMs?

[cjs]

Don't rely on one card or account, take an alternative card from another bank. If a card stops working for any reason you will have a back-up. My card was stopped by my bank for security reasons, I was in Vietnam, it took over a week to get a replacement sent out, fortunately I had another CC from another account.


Also check the expiry dates on all cards, will they last the length of the trip?

[durbster]

v15ben said:

I have a Nationwide Flex Account with a debit card so that might be worth using instead of a Credit Card for ATMs?

It was a couple of years ago when I looked around so things may have changed, but at the time the Nationwide one was by far the best debit card for travelling with.

I think the main thing is to just not keep everything in one place.

It sounds like a cracking trip anyway

[neilski]

I'm travelling at the moment and after looking at all the options went for Halifax Clarity & 2 x Caxton FX (£ for day to day & € as an emergency spare). Don't keep them all in the same place and if you leave the spare in your pack, don't load it with money first!

Make sure you apply for the Halifax card well before you go because mine took about 5 weeks to arrive as I was converting from another HFX card. If you're a new customer this may not be a problem. Depending on your credit history, Halifax may want to start you on a painfully low credit limit until you've built up a credit history with them & set up a direct debit to clear the balance in full every month so you don't have to worry about it. Sorry if I'm stating the obvious here.

See you in SE Asia!

[The Tea Boy]

Money? Just rent the mrs out whenever you need something! Dont tell her I said that

Matt

[v15ben]

Haha thanks for the advice, Matt

I've been with Halifax and had a credit card for about 4-5 years so hopefully I'll keep my credit limit even if the paperwork side of things takes a while. I applied earlier in the week so that should give me enough time before August. Knowing Halifax though, maybe not!

The Canton cards look like a good option, will decide between that and the Fair FX over the next few days.

Thanks for all the advice everyone and I can't wait to travel again!

[v15ben]

durbster said:

It was a couple of years ago when I looked around so things may have changed, but at the time the Nationwide one was by far the best debit card for travelling with.

I think the main thing is to just not keep everything in one place.

It sounds like a cracking trip anyway

It used to be the best option by far. When I last travelled in 2008, the free withdrawls made it perfect for travel in Asia but even now, I think the cost won't be too bad to use it for irregular ATM withdrawls. I have the card anyway so may as well take it with me.

That'd leave me with 4 sources of money so hopefully that'd be enough

[marshalla]

FairFX pre-pay card gives a better exchange rate than most UK-based current account debit cards and better ATM rates too. Get one in US$ if that's the main currency you'll be using.

[v15ben]

Thanks for the tip
They also have a good sign-up deal through MoneySavingExpert at the minute.

[marshalla]

v15ben said:

Thanks for the tip
They also have a good sign-up deal through MoneySavingExpert at the minute.

They do indeed, and if PH rules didn't forbid it, I'd post an affiliate link to get a few extra € on mine when/if you sign up too

[v15ben]

Just drop me an email