Currency exchange while traveling: why do some still carry wads of cash? (page 2 of 28)

In spirit, it seems quite similar to me. Or not?

I don’t know. I find exchange offices more complicated. Crowds, sometimes theft, calculations to avoid getting ripped off. And they’re not always easy to find.

Plus, 200 euros isn’t 500 or more.

My reasons for using a card are convenience—it’s done in 10 seconds—safety (theft, loss, scams from exchangers), and then the price.

I’ve lived through the era when paper money and checks were the main payment methods, but personally, I don’t miss them.

It all depends on what type of hotel you’re staying in and what kind of trip you’re taking.

True—a road trip with mid-range accommodations in somewhat to very touristy areas will be easier with little cash than a backpacking or cycling trip staying with locals in countries where tourism is still in its early stages.

But that still doesn’t answer why choose an exchange office in Botswana or Brazil?

Last time I was in Namibia, a tour group was queuing at the airport to exchange money. The rate was so bad that even with a greedy bank, it would’ve been better to withdraw from an ATM. Why weren’t those people at an ATM?

Do tour operators force them? Do they get kickbacks? Wouldn’t it be faster to plan a stop on a street full of ATMs?

I think everyone has their habits, and it’s really hard to change them.

The topic is why carry cash to exchange when there are free, zero-commission bank cards available.

I’m talking in general terms. In tourist-friendly countries, in well-equipped countries, in places where tax fraud isn’t the national sport.

Jambo!

Suitcases?! And here I thought you had to be a diplomat!

😏

Well, I replied to you.

The topic is why carry cash to exchange when there are free, zero-commission bank cards?

Michel

And what was the answer because I didn’t see it.

You mentioned financial gains— Nope. At best, it’s just a few crumbs; at worst, a loss.

The joy of handling cash? Well, we have cash either way...

Distrust of banks, the big enemy? Sure, why not, depending on your point of view.

It was a metaphor...

Though, not entirely. To bypass the exchange controls introduced by Mitterrand, I remember my grandmother hiding a few rolls of bills inside medicine tubes in her suitcase during one of our summer European road trips. 😄 Otherwise, it would’ve been dry bread and water for the whole trip! !

It was a picture...

Though, come to think of it. To get around the exchange controls introduced by Mitterrand, I remember my grandmother hiding a few rolls of bills inside medicine tubes in her suitcase during one of our summer European road trips. 😄 Otherwise, it would’ve been dry bread and water for the whole trip !

You just gave me an idea 😛 I just read a discussion about Cuba, where I’m heading very soon, and people coming back say the ATMs don’t work... So, cash it is, as I always do.

Another reason is that, like me, a lot of people hesitate to switch to online banks. Every year I tell myself I’ll take the plunge, but I still haven’t. Probably my old age, I guess... Anyway, that doesn’t solve the problem of ATMs that don’t work or trips to remote islands where there are no ATMs and they only accept cards with a hefty commission.

I totally agree that carrying around euros in cash to exchange later isn’t very useful anymore—except, of course, for Argentina among the countries I know, but that’s a really special case (seriously, a *very* special case!).

Still, having a small cash cushion doesn’t hurt. I once had an ATM in Bolivia eat my only card, and I managed okay with just an unplanned night in the middle of nowhere, but I can imagine how much worse it would’ve been if that happened at some random airport right after landing. The trip would’ve started on a super stressful note. Lesson learned: always have at least two cards and/or some cash!

For those who really don’t like using cards—and to avoid the stress of hiding bills all over the place—transferring money to yourself from France is often a handy alternative...

And what was the answer because I didn’t see it.

I like exchanging as I go, visually tracking my budget. Having 500 or 1000 € on me doesn’t bother me at all—I find it reassuring.

You mentioned financial gains. Nope. At best, it’s just a few crumbs; at worst, a loss.

I’ve often canceled ATM withdrawals at the last second because of the exchange rate they forced on me. With cash, it’s straightforward. I travel to countries where you can exchange money everywhere—in shopping malls, stores, you name it...

Distrust of banks—the big enemy? Sure, why not, depending on your perspective.

Oh, I’m not *that* left-wing... I’ve been using online banks since—well, *forever*, I think since 1996 with Banque Directe back in the day. My salary gets paid into ING, and I have accounts with AXA, Fortuneo, Boursorama, and BforBank. So much for being allergic to banks. 😏

Michel

Hi Attila,

Which bank offers zero fees? (I read an interesting thread where Groschat made a big deal about the Max card.) Personally, I’m a bit like Tatra—I always have cash on me, anywhere from 50 to 1000 €! But honestly, I always carry cash even when I’m not traveling. (I’m not changing my ways!)

Daisy, good evening! In Cuba, a little tip I’d give you is to withdraw money directly from banks with your card—and especially your passport, as they’ll ask for it... You might wait a bit, that’s true, but you won’t have to worry about your card getting stuck in an ATM! The commission and withdrawal fees are deducted from your account upon return, around 3%, and your card must be Visa or Mastercard! To exchange your cash, you can go to *cadecas* or banks; double-check the amounts and take your time counting! And don’t forget the receipts. Personally, I bring cash that I hide well, and it works great because there’s no commission when exchanging! There you go, *buen viaje* Lillie

Thanks, Lillie. I’ve always been used to bringing cash—and my card just in case. I did note that I should recount everything... Not easy after hours of flying when you step off the plane, but I’ve already been burned in Bali, so I’ll be careful...

Yeah, I get the picture, but it made me laugh thinking about diplomats.

These days, you can also send yourself a Western Union before leaving. Another option.

I'm in a crappy bank with huge fees outside the eurozone. It's actually cheaper for me to exchange cash.

Thankfully, I'm in the process of changing that!

Otherwise, when I travel, I like to take out the cash I need for the day and not carry my card around, risking theft and ending up in a real mess...

Another reason is that, like me, many people hesitate to switch to online banks. Every year I tell myself I’ll take the plunge, but I still haven’t done it

Thanks for your honesty. 🙂

Even though I’ve taken the plunge, I still have an account with a physical bank.

I don’t know all of them. On this forum, people talk a lot about Revolut, N26, Fortuneo, and Boursorama.

I’ll let others chime in.

Otherwise, when I travel, I like to take the cash I need for the day and not carry my debit card around, risking it getting stolen and finding myself in deep trouble...

But you risk losing or getting your cash stolen just as much, don’t you? And then, that’s all you lose. Not a useless piece of plastic.

I’m stuck with a crappy bank that charges huge fees outside the eurozone

Can’t you take the leap either? So it’s not a generational thing since you’re not exactly ancient like us.

to visualize my budget,

Old-school, then.

because of the exchange rate offered—imposed.

Never seen that. Which country?

I go to countries where they’re everywhere

Not in Brittany...

Oh, I’m not that left-wing...

I pegged you more as a conspiracy theorist.

Old-school, then.

Just like in real life.

Never seen that. In which country?

In Poland.

Not in Brittany...

I was talking about travel.

I thought you were more of a conspiracy theorist.

Meh.

Michel

Since I travel on a tight budget, I’m always afraid of losing cash. I only have one bank and a Visa Premier card that’s more than enough, but the cool thing is the Cyrus card my bank gives me for free. With this card, I can withdraw cash easily. So, I withdraw with Cyrus, pay by card when possible, or use cash if nothing else is available. I was a bit nervous in Albania, but it turned out to be a country where I found ATMs everywhere and plenty of places to pay by card. I can’t afford to have five banks like Tatra, though ;)