Currency exchange while traveling: why do some still carry wads of cash? (page 6 of 28)

Hi there, I’m also allergic to modern payment methods—I must be some kind of post-modern conservative (something like that). But my love for stacks of bills isn’t just about that; it’s also tied to other context-related reasons.

First, when traveling solo, one of my biggest fears is ending up without any way to pay—whether due to a robbery or my account being drained, which almost happened after using my card at a physical store.

Some might argue that you’re more exposed to robbery risks, but that doesn’t scare me as much, and I manage it by stashing my cash in different spots.

I’ve also forgotten my card PIN while traveling before, and if my itinerary hadn’t included a stop at my parents’ place, I would’ve had to go home to sort it out.

As for withdrawal limits—during my last trip (Pacific Crest Trail), my bank told me before I left that they couldn’t raise it, and unexpected expenses on the trail hit that limit. I was really glad to have cash on hand. Oh, and there are still remote areas where ATMs aren’t guaranteed, plus situations where cash is non-negotiable (businesses that only take cash, "donativo"-style donations).

Beyond personal habits, aversions, or phobias, travel conditions play a role too. Heading out alone for a long stretch far from home in a place where you’re completely on your own if something goes wrong isn’t the same as a short trip with a travel agency or friends who can bail you out in a pinch.

Good evening,

I completely agree with what’s just been said about why it’s better to carry cash instead of relying solely on a bank card. That said, taking cash doesn’t mean you shouldn’t have a card as a backup… It’s always safer to diversify your payment methods so you don’t end up in a tight spot!

And I’ll emphasize this again—there are *so* many places around the world where you can’t pay any other way than cash, and in remote areas, there often aren’t any ATMs either…

Honestly, we all know how much better it feels when someone pays us in cash directly, hand to hand (whether it’s for a business, renting a place, or buying goods, etc.), if only to avoid declaring the amount… So, I do the same when I’m abroad.

Oh, and thanks, Groschats and Lysa74, for your feedback on the N26 card. I’ll admit I’m still hesitant to try it… so I’ll pass for now…

A withdrawal in Germany, and you get 100 € bills.

If you have to go through Germany to travel, it’s still a bit of a detour though...

Why go so far?

At any post office, you can ask for 100 € bills if needed. Otherwise, you can withdraw 50 € bills and get them changed at any shop. I do this regularly when I need large denominations—no problem at all! That said, I don’t really see the point when traveling abroad...

Isn’t there an equivalent of Fortuneo or Boursorama in Switzerland—online banks with ultra-competitive rates, so competitive they’re basically free?

Why go so far?

I don’t know. It’s Tatra’s solution.

Actually, it’s an age-old fear—running out of money.

I think you’ve hit the nail on the head. [;]

Personally, I contact my bank to get 100 € bills. A week later (at most), I go pick them up. Not really a hassle.

Way more than just entering your PIN at an ATM... How do you handle last-minute trips? That takes some serious planning!

I always keep my cash on me. Except at night.

Really? How do you manage when you go snorkeling or diving? Tatra isn’t into the beach scene, so no worries for him. But I thought water activities were part of your travels, right?

By the way, in South Africa, did you carry around your wad of euros too? If so, I might need to rethink my opinion about your Auvergne roots. A guy who’d rather lose money on exchange fees than withdraw from an ATM isn’t really one of them.

Isn’t it also the fear of running out that makes us stock up on firewood before the coming winter? Food for the week (or the month for some)? Possible reservations in places where it’s hard to find accommodation? And so on...

It seems to me that this fear is indeed ingrained in each of us, at different levels. For some, it’ll manifest in food, for others in money, relationships, etc. A legitimate fear we all share as fragile human beings.

Perhaps it’s the consequence of losing our identity, of forgetting ourselves. Have we lost the conviction of being whole without needing to "complete" ourselves? Have we forgotten how to be serene in the face of life, to the point of no longer trusting ourselves?

We constantly need reassurance. Because we’ve grown accustomed to lacking. And because we’ve lost ourselves in the game of appearances, unfortunately...

At any post office, you can ask for 100 € bills if needed. Otherwise, you withdraw 50 € bills and get them exchanged at any shop. I do this regularly when I need large denominations—no problem! That said, I don’t really see the point for traveling abroad...

I’ll keep in mind for my next trip that it’s possible to get 100 € bills at some post offices (not the one closest to me, though). This year, I really struggled to find those denominations. My SG bank branch first sent me to the main branches in the Paris region, which no longer offer this service. I was then directed to the Banque de France, where I was bounced from the Bastille branch to the main one (rue Notre Dame des Victoires) only to end up with a rude refusal.

In the end, I found 100 € bills through a helpful currency exchange agent and by finally locating an ATM that dispensed them (I had to call my bank to lift my withdrawal limit).

Can you withdraw these bills at a post office even if you’re not a La Poste customer?

Otherwise, I agree with your points—especially about not liking this gradual shift toward dematerialization. In my opinion, it slowly disconnects us from pretty much everything, both things and people, while tightening surveillance over us.

Besides, you don’t need to be a potential terrorist or tax evader to dislike feeling constantly monitored.

Traveling without any cash on you is like heading into the Sahara naked but having thought to bring sunscreen... Clever

The list of countries without a single ATM, especially in the capital where travelers usually land, must be pretty short. The point isn’t whether to pay in cash or by card, but how you get the local currency (exchange or ATM).

Personally, the only time I *had* to exchange money was during my trip to Myanmar—there weren’t any other options back then. Things have probably changed since.

I used to exchange money too, but that was when banks charged crazy fees and cards weren’t as widely accepted. I actually preferred traveler’s checks back then.

And how do you handle it when you go snorkeling or diving?

Yes, there are situations where you might have to rack your brain to reduce the risk of having your stash stolen. Sometimes you’ll have access to a safe where you can store your treasure, other times you’ll take the risk of leaving it in a "visible" spot, hoping a potential thief will find it too risky to rummage through your stuff in front of people who might be your friends. Yes, there’s always a risk—and there always will be.

But having a credit card stolen can also be disastrous if you’re on the other side of the world.

P.S.: For water sports, there are waterproof pouches that let you keep your valuables with you.

Can you withdraw these bills at a post office even if you're not a Post Office customer?

I don’t know. Personally, I’m a customer, so maybe that’s why? Or maybe it’s easier to ask at provincial branches? I don’t know Paris, but it seems like things work a little differently there... (?)

Besides, you don’t need to be a potential terrorist or a tax evader to dislike feeling constantly monitored.

Absolutely. It’s an unpleasant feeling, especially when you value freedom like I do. Maybe it’s just a matter of temperament—some people clearly don’t mind.

It might also tie into what we were saying earlier: a fear of running out. The fear of losing freedom as the world becomes more and more restrictive... I fully stand by that, by the way.

But why do you prefer doing it this way?

Traveling with local currency? So I don’t have to look for an ATM when I arrive, so I can quickly leave the airport and pay for my taxi without wondering if they take cards. My card takes over when I run out of cash. I don’t really worry about extra exchange or withdrawal fees—I just do what works for me. Like you said, on a budget of 2000 €, an extra 20 € more or less doesn’t make much difference. 😕

Is there no equivalent of Fortuneo or Boursorama in Switzerland—online banks with ultra-competitive rates, so competitive they’re basically free?

Switzerland isn’t always super friendly with ultra-competitive rates, sniff. If they exist, I’d love to hear some names.

Personally, I withdraw from ATMs and pay cash, except for a few large amounts—just like I often do at home—and because I get charged fees for every payment. I always carry a few hundred dollars because I’ve had trouble finding ATMs that accept my two cards (I don’t have a credit card, only two Maestro cards) or because all the ATMs were empty (in Argentina, does that even count?). Since I never know how things work in a country beforehand, and because banking system failures can happen, the goal is to have both payment methods available. And I’ve regularly ended up using some of that cash—in Argentina (before they went crazy with money), Mexico, Georgia, Ecuador, and maybe a few others I’m forgetting. Otherwise, I notify my bank because for some destinations, they adjust my withdrawal limits. For those worried about losing their card, there are cards that can be replaced anywhere abroad... with a little cash to tide you over, and you’re all set.

this progressive dematerialization ... a tax fraudster

Dematerialization is indeed intended to combat dirty money from undeclared work and drug money laundering.

It also aims to reduce violent theft. No cash, no robberies, no armored trucks attacked, no gun to your head to steal a day’s earnings.

Banks no longer hold cash to avoid this deadly risk.

Card fraud is mostly physical, so it’s not serious—especially since banks are required to refund any purchase made without a PIN or signature.

There are a few cases of violence to extort PINs, but it’s minimal compared to the rest.

not liking the feeling of being constantly monitored.

If you don’t want to feel monitored, first stop using a cell phone. No legal travel either because of passports... No job with a time clock.

A complicated life—what for, in the end?

My life is insignificant. I can’t see why anyone would bother tracking it.

Attila peed at 8:12 AM, pooped at 2:00 PM, bought a tenderloin at 6:00 PM, criticized poutine at 7:08 PM, had a drink at 8:03 PM... at 11:00 PM.

Fascinating!

Apart from advertisers, we don’t interest anyone. And given the results in my inbox, their techniques leave a lot to be desired! 😏

But credit card fraud can also be catastrophic if you're on the other side of the world.

Emergency card service transfer. Solidarity among travelers. Family.

ATMs, cash machines... those so-convenient devices, and those little plastic cards!

You can add me, Agnès, to the list of travelers who prefer other methods—those who aren’t big fans of these machines. The skeptics, the cautious, the planners, or anyone else who’s explained their reasons to you.

The convenience some seek isn’t the same for everyone. Why bother hunting for a cash machine in certain places (especially when you already need local currency to pay for transport on arrival), risk having your card swallowed, or forgetting your PIN when you’re not used to using it?

During my many trips, as surprising as it may seem, I think I’ve only used ATMs once or twice—maybe three times. That was back in the days of traveler’s checks in dollars, and they weren’t always easy to exchange.

Otherwise, I estimate my budget before leaving and bring cash with me. Of course, I have a credit card for peace of mind in case of need, mostly for paying hotels. I exchange money at the airport upon arrival to be set for the whole stay... but there’s also the constant fear of getting robbed. Though losing a card can be just as problematic... Exchange rates matter little to me (or almost not at all)... as long as the difference doesn’t impact my trip, right?

Still, I recently had a close call when paying for a hotel with my card—it got blocked at the end of my stay, even though I’d warned my bank. Luckily, the situation resolved instantly thanks to my smartphone and the ability to raise my withdrawal limit... Progress does have its perks! 😉

Otherwise, waiting in line at an airport counter, getting familiar with the local currency as you count it in front of everyone—isn’t that part of the travel experience too? That’s when the adventure really begins...

Memories of certain airport counters (Cuba, where the question of exchanging everything at once didn’t even come up), memories of long lines on the sidewalk first thing in the morning for currency exchange in Mexico (so inconvenient), and memories of stacks of kips in Laos for a small sum. And those bills from every country, which you end up collecting...

As for online banks, I don’t even know what they are... or rather, how they work! 🙂

I’m desperately trying to remember the title of a film about the risks of excessive dematerialization—something that was supposed to be a happy progress at first but leaves the main character completely dispossessed of everything.

Just now, I was talking to someone who’s right in the middle of this: due to a mistake, the tax office has frozen all his accounts for a week, even though they admitted the error (no, he’s not some potential tax evader from Levallois-Perret). Luckily for him, he wasn’t traveling on the other side of the world.

Apart from advertisers, nobody’s interested in us. And judging by my inbox, their techniques leave a lot to be desired! 😏

No offers for a safari to hunt gazelles and antelopes? 😉