Hey there fellow travelers and welcome to my post where we will outline my 10 tips to keep your money safe when traveling this year. Now this is probably stating the obvious, but taking care of your cash whilst you are on the road is a critical element to an enjoyable trip..
I mean not only can losing all of your money really make things a little difficult, but getting replacement cards etc. if your wallet goes missing can be a lengthy process as well.
So in an effort to keep your financial requirements safe, let’s see when we can do to help you out below…
What are the risks?
As with anything, the easiest way to combat a risk is to understand what you are dealing with. And when it comes to your wallet and cash, the following are the major dangers that you can expect when traveling:
Tips To Keep Your Money Safe When Traveling
Ok, so in an effort to reduce the chances of you falling victim to any of the above, let’s check out my 10 tips below:
Check out these: 7 Tips for Saving Money at the Airport
1. Keep your Bank In-the-know
The first of my money safety tips is actually more about making sure you have access to the cash you have rather than not losing it. So here all you need to do is make sure that your bank is aware of your travel plans so that they don’t place a stop on your card at the first sign of overseas use.
Secondly however, they can assist you in managing your safety whilst away via the ability to setup sub accounts etc. so that if your card does get taken, the amount of money that the thieves can get is severly limited. They will also be able to quickly track anything that is untoward as well – such as excess cab fare charges etc.
2. Use a card if you can
And while we are talking about cards, if you are in a country where you can safely use a credit or debit card, then this can assist in reducing the amount if hard currency that you need to carry. This includes using cards in restaurants and cafes and booking tours and transport on your card.
When it comes to bookings as well, it is even better if you can pay for them online in the security of your hotel room or at home so that you don’t have to even worry about taking it with you if you don’t have to. And of course online transactions provide that extra layer of security for you too.
It is also a good idea to take more than one card with you from different accounts so that if one is taken, you have another that you can transfer your funds into as well.
3. Don’t get too much cash
Now of course there will always be times when you need cash – especially when it comes to bartering over souvenirs or tipping bar staff etc. The trick here however is to take as much cash that you will need without stuffing your pockets with everything you have.
Leave the rest in your hotel safe or bank account where it is protected. And of course when you need more, only take it out at official bank ATMs and not the ones found in back street junk shops etc.
4. Don’t keep it all in one spot
My next tips is all about reducing your losses should you fall foul of thieves in your travels. Here, the thing to be aware of is that the theft of cash from a tourist is often undertaken when the opportunity arises. Pickpockets for example are not going to stand around and check all of the slots in your bag or all of your pockets. So if you don’t have all of your cash in the one spot, your chances are losing everything are reduced even if they do manage to get some from you.
The same here goes for stashing cash in your accommodation and/or luggage. We will discuss the use of safes in the next tip but if one is not available, then spread your cash out around your luggage and your room – and lock your bag too. This way again, if someone breaks in, they may not have the time to go over everything, or not think to look elsewhere.
Just don’t forget where you stashed it all of course…
5. Use safes etc. if you can
This next tip is a simple one – if there is a safe in your room – USE IT – keeping the following in mind:
- Make sure you set your own passcode – do not reset the code and leave it at that
- Double check the passcode before you close the door
- Change your passcode every day
- Wipe your finger marks off the buttons before you leave – this may sound funny but trust me, you can see the four numbers pressed which makes guessing a little easier.
- Please everything inside it when you go to bed.
As someone who has had a room broken into, we were certainly glad we had our cash, extra cards, phones and passports in the safe and not in our bags – which they tore apart looking for valuables.
6. Don’t flash the cash
If you travel enough, you will come across they guy in the café or bar that is making a big deal about how he is on holidays and wants to splash the cash. This behavior just makes them a target for beggars, pickpockets and scammers everywhere as they try and separate you from your green. In an effort to reduce this, I recommend you do the following:
- Don’t talk about how much you have
- Don’t count all your cash in public – or after withdrawing from an ATM
- Don’t count from a large wad as you pay for things
- Don’t loudly order the most expensive items on the menu
- Don’t make a big deal about over-tipping (or if you want to, do it discreetly)
The easiest way to do most of this is to follow tip #4 above where you have cash spread into different parts of your body or bag. And it also helps if you can be a little inconspicuous and not look like the winner of a tourist lookalike competition too!
Check out these: Travel Wallets With RFID
7. Don’t give cash to beggars
This next one is going to seem a little mean spirited but in many cases, beggars are used to scam and steal from unsuspecting tourists. I have personally seen bus loads of ‘beggars’ shipped in and out of tourist areas that are not as poor as you may think.
The most common problem here however is that beggars are used as a distraction whilst pickpockets go to work behind you. I remember a fellow backpacker telling me once that if you see a beggar with kids who disappear as the adult approaches you, then cover your back pocket. And NEVER let them take you up a laneway etc. to give you a thankyou gift!
Of course this can be harder to spot in third world countries and I am all for helping out the locals, but sadly, this is an area where your chances of being scammed or stolen from are extremely high.
8. Don’t use unauthorized money changers
Ok, I am going to speak from experience here. I wandered into a money changer who I thought was above board (I should have seen the risks but didn’t) and swapped $200 for what should have been 1,500,000 Rupiah. They counted it, I counted it, then they counted it again – what did I have when I got back to my room? – 1,005,000 Rupiah. This is a common trick there as well as having a very large man tell you the commission fee has changed.
So as with ATMs above, stick to banks or authorized money changers (they often have a guard out the front). And to help you out, avoid a money changer if:
- Their exchange rate is way higher than it should be
- There is not proper shop front
- The changers try and take you to another room or inside another business
- The shop is inside someone’s house or inside their village
- They want to keep counting the money – or insist on counting it last
- They try and give you a large selection of different denominations or a lot of smaller notes
- They ask for your money first – trust me, you are not getting it back even if you dispute their count
- They get really really really cranky at you if you call them out
With advances in online banking and multi-currency cards, money changers are not as prevalent as they used to be but at the end of the day, if it feels dodgy – it almost always is!
8. Wear a money belt
I must admit that with this next tip, I have seen many arguments about whether money belts are as effective as they should be. That said, if worn properly, a well hidden and discreet money belt can provide greater protection in areas where pickpockets are rampant – especially if you have the need to carry a little more cash with you.
Money belts should be worn underneath your clothing and protected by outwear such as a waist seam, belt or even some tight underwear. The trick here is to wear it without making it look like you are wearing it so keep it covered and don’t stuff it so full that it can be seen underneath your clothes.
And remember, a money belt is never your first source of cash – still carry your wallet or stash some in your pockets for you immediate use so that the belt stays hidden from prying eyes. Oh, and do not confuse a money belt and a fanny pack (bum bag), they are not the same thing and fanny packs are not secure.
Some backpacks also contain anti-theft or anti pickpocket sections at the back for your cash as well.
Check out these: Money Belts For Travel
9. Use a cross body bag with a shoulder strap
Another common method that thieves use in many countries is to grab handbags etc. as they ride past on a moped or scooter. The way to counteract this is to use a cross body strapped bag that you can loop over your neck and hold onto the bag at the front.
Sadly it can hurt a little if the bag is grabbed in this manner so some consider it not worth the effort. But this type of bag is also more effective against foot based bag snatchers and pickpockets as well as you can keep your hand over the zipper at all times.
10. Don’t leave stuff unattended
And finally, I have finished up with another obvious one – if you leave your stuff unattended, it will get stolen. As you move around, make sure you keep all of your stuff within reach and in front of you -especially if it is holding any cash.
And if you are staying in backpacker hostels etc., sadly theft is not restricted to the local population. Most theft I have seen in my travels has been from other travelers in these types of accommodation. So use the safe if there is one and put a lock on your bag – even if you are near it!
Other little tricks
And finally, to reduce risk of theft you can also:
- Use a dummy wallet.
- Sew a pocket into the inside of your jacket or pants.
- Keep a small note in your pocket and hide the rest (I have spoken to a few travelers who swear by this option as again, the pickpocket is not going to stick around to look for more money).
- Look as much like a local as you can – i.e. leave the Hawaiian shirt at home
Conclusion
So there you have it, my 10 tips on how to keep money safe when traveling. I hope it has been of assistance but as usual, if you have any questions please do not hesitate to reach out by commenting below.
Do you have any other tips to save weight or space when travelling? If so, please comment below.
Until next time
Have fun
Paul
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