tossing the plastic (financial question)

as I travel for the next year or two, I will not have regular access to my bank accounts online. Some of that time will be in training, some in places where there is no internet service, and some in 3rd world places where technology use might be limited. Not that I won't have access, but it will not be regular or reliable.

I don;t want to use debit, as that is an open door to my accounts. Credit card was frauded, I got a new one that didn't work at some places, and then finally quit (new one coming).

But I am wondering about skipping plastic altogether....just carrying cash. CC will still be used via bank to do auto pay items (cell bill). every other bill will be handled via computer when I can (life ince, vehicle reg, etc).

I am also thinking about getting a CC with a way smaller balance for traveling, so if it gets hacked or has issues, I'm not out thousands, but just a few hundred.

Any one here have experience or knowledge on tossing plastic all together?

Shoving off mid to late January, so I want to make changes now and iron out any issues while I am still working/have access to credit etc.

(Retiring early is ever closer, not counting days just yet, but getting awfully close!!)

SCA

 

I would not recommend globetrotting in a 3rd world country with wads of cash on hand. Even my experience in Europe (where a lot of places DON'T accept cards) was frightening, and I almost got pickpocketed more than once. What about one of those prepaid cards? Put a few hundred bucks on it, or whatever you'll think you'll need. Maybe carry a little cash for emergencies, and exchange it for the local currency (at a reputable place) when you arrive?

 

I wouldn't get rid of my credit cards.

I would also learn how to use basic phrases, call for help, police, etc. in the languages of the countries you're visiting. You don't want to stick out like a sore thumb.

 

Another point…



the bank deals with the exchange rates automatically and generally in your favor instead of the merchants

 

Lots of good advice so far. Keep the card. You don't want a bunch of cash in a 3rd world country. The wrong person will find out soon enough.

 

Most third world countries don't do credit cards. They use cellphone banking. I.e. they do their transactions via cellphone apps. This is in Africa and Asia, even China.

So make sure you have affordable roaming coverage where you go

 

Agree with others. I am....very mindful, and even a bit wary, of traveling with moderate to large amounts of cash even in state/multi states such as on vacation... (Realizing this actual dollar about is subjective as to what moderate/ large is.... )

When I went to Australia for a year of college (I realize it's not the same places you're asking about, and it was dang 25 years ago...), I took a bunch of money in traveller's checks, stored them (somewhat) securely and exchanged for Aus $ as I needed. This may or may not be an option for you.

Reference Eric Wanderweg's comment on pickpocketing... My wallet has grown into an unwieldy thing and it never goes in my back pocket now (cargo pocket or jacket) so when we go to the bigger 'towns', I pull put my CC, driver's license and concealed carry permit and put into a very small bifold mini wallet type thing (that came with a bigger wallet), and that usually goes in a front pocket. I'm a firm believer in having it in the front pocket when in any kind of situation /environment that may cause even the slightest question. If they can pick my front pocket, I've got other problems.....

 

I might now a guy that’s been around sketchy areas. Keep a couple American $20s; in places in South America and SE Asia they want American currency anyway I always kept emergency cash under insole of shoe.. always have regional footwear that has laces and tie.. no American sneakers

your American you are going to stick out! realize it and try to blend

Guessing here; your a white guy almost 50 a lil overweight with glasses and teeth and most of your body parts …??that does not exist in 3 rd world countries

 

Having grown up in another part of the world , I would suggest to be a bit more careful in the suggestion that having teeth and all body parts is an American thing... (Also, I lived for more than a decade in Eastern TN...)

Changing shoes is not going to make Americans overseas stand out less. It's not only the dress, it's the posture, attitude, and overall being that is, erm, unique.

 

This got me

But you're correct on multiple accounts. It's not only an "American vs other countries" thing.... It's regional in the US as well...ie Yankees stand out around here...

And then we open our mouth...

 

but the comment was more than teeth and body parts.. 3rd world countries I’ve been in; on 3 continents Percentage of people overweight in population less than 5% with eyeglasses another less than 5%
Seen a dentist in last 20 years less than 5%

if you have been in sketch places the shoes are not to Not stick out BUT to get heck out

 

I don't have any advice for such. When a lil pup, my parents used to get these when we went on Vaca here in the States.

 

I am not sure if Travelers Checks are even available now.

 

Wow, thats a lot of wisdom here!
For the first year, I'll be with a group of about 20 men.
We'll be stateside, and with other disaster relief org's.
I wont need huge amounts of money when away from HQ.

I love the idea of a few cash cards for daily use......mostly snacks, food out, unplanned clothing purchases....

Travelers checks sound loke a great idea too.

I have a wallet I wear around my neck....and can stash cash or cards in misc hidey spots. Wrangler Rigs are my jeans of choice.

I have zero compunction about hiding smaller amounts of whatever in muliple places....including utilizing needle and thread on daily clothing.

I suppose too, when I get there, Ill get a better feel for what Ill need and can do....I'm trying to purchase what I think I'll need now. I can store a few extras of various consumables...

A bit to think about for sure.

 

American Express and Discover can still be tough in some places. Depending on where you're going . Get a CC that doesn't charge ATM fees (although there can still be some fees) . If you do have a CC find out what network they share overseas and only use ATM in the network to avoid crazy fees and awful exchange rates. The worst place to get local money / dollars exchanged is at the airport at a booth manned by a human being. They are almost always highway robbery -like 20% to 30%. However some ATM in the airport can be the best. Go figure.
I usually bring $800-$1,000 USD cash with me but only if I'll have a safe in the room. Keep in mind the cleaning lady often has the bypass code to get in the safe so don't fill it up with gold bars. They're not likely to want to lose their job over $500.oo, especially if they are " green card " workers. Too often they're feeding a dozen mouths back home and can't afford to f*ck up.

 

Correct. BUT, you can still redeem any you might have. No expiry date!

 

I only used plastic briefly when married and tossed it after that. Strictly cash for what I can. Debit card for emergencies, PayPal occasionally online. She uses her CC for small purchases online and pays it religiously when due.

I hate plastic money. With cash its paid for on the spot and no bill later and if I don't have the money I don't buy it. Way too easy to get into trouble IMO.

Tough call on traveling with cash though.

 

Depending on where you are traveling I found I got better exchange rates using plastic. But my experiences are limited to Europe and Canada.