Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 14-12-2011, 09:21   #31
Registered User

Join Date: Oct 2010
Location: Oregon
Boat: 57' Laurent Giles Yawl
Posts: 755
Re: Cruising with money...

American Express is accepted almost nowhere, but I still like them. I lost my wallet in Acapulco (when I was dumb and carried all my cards at once). I took a bus to the local Amex office and within an hour I had a new card.

So I think they are worthwhile just for that reason.

RebelHeart-- the only place I ever exchanged a travelers check was at a small bank in Borneo. There was really no other way to get money, since I didn't bring enough.
__________________

__________________
msponer is offline   Reply With Quote
Old 14-12-2011, 10:40   #32
Registered User
 
Mexdon's Avatar

Join Date: Jul 2011
Location: Mexico City
Boat: CR 56 CC to be built 2014 2015
Posts: 455
Send a message via Skype™ to Mexdon
Re: Cruising with money...

Quote:
Originally Posted by rebel heart View Post
That's not a universal truth. In parts of Mexico and plenty of Central American countries you'll go farther with US Dollars than the local currency.
In Mexico, not anymore. A new Law came into effect on Sept 14th 2010 limiting the amount of dollars that can be exchanged or banked even if the company business has a US dollar account. Dollar here now is almost a dirty word. A tourist or anyone is limited to cashing US$ 1,500.00 per month. To do this you have to provide a current ID, which is copied and kept. Exactly how the control works I do not know. Mexican individuals or foreigners with a Mexican bank account can no longer have an account in US dollars. Virtually all major stores now refuse to accept US dollars for payment of purchases and the black market exchange has disappeared. Conversely there is no restriction on the amount of dollars you can buy with Mexican pesos, you just can't spend them in Mexico.

I have been told but can not confirm officially the reason for this restriction is to block the laundering of dollars by the narco dealers and the govt. reason for including tourists in this is they believe everyone that comes into Mexico has a credit or debit card to use and the change would not cause any inconvenience to tourists.

Just don't get upset when the local beach restaurant no longer welcomes your greenbacks. They are almost valueless to him.
__________________

__________________
When I was a boy my momma would send me down to the corner store with $1 and I would come back with 5 potatoes, 2 loaves of bread, 3 bottles of milk, a hunk of cheese, a box of tea and 6 eggs. Can't do that now, too many f**kn security cameras.
Mexdon is offline   Reply With Quote
Old 14-12-2011, 13:10   #33
Marine Service Provider

Join Date: Aug 2010
Location: north carolina
Boat: command yachtsdouglas32
Posts: 3,113
Re: Cruising with money...

Quote:
Originally Posted by rebel heart View Post
You guys with traveler's checks:

How are you redeeming those in various countries? Do you take it to a local bank in exchange for currency? If you're taking them direct to vendors, what's your success rate for having them accept them? I'm just thinking about the little hole-in-the-wall establishments I've seen in foreign lands and I think they'd look at traveler's checks like I was handing them monopoly money.
Yeah, you will need a bank or amex. office and bigger hotels will cash them..the great thing is that you cant get robbed because they cover any loss...do not sign them in advance thou,they then become like cash and they wont insure your loss..DVC
__________________
tropicalescape is offline   Reply With Quote
Old 14-12-2011, 14:05   #34
Registered User
 
Amapola's Avatar

Join Date: Sep 2011
Location: Florida
Boat: Matlack, Trawler, 48 ft
Posts: 809
Re: Cruising with money...

We carry less than $500 cash, use a credit card almost exclusively, and have auto bill pay.
__________________
The sea, once it casts its spell, holds one in its net of wonder forever.
—Jacques Yves Costeau
Amapola is offline   Reply With Quote
Old 14-12-2011, 15:34   #35
Registered User

Join Date: Oct 2010
Location: The boat - New Bern, NC, USA; Us - Kingsport, TN, USA
Boat: 1988 Pacific Seacraft 34
Posts: 421
Re: Cruising with money...

My wife and I each carry a primary credit card that we routinely use. We each carry a second card; she one, I another. This gives us a total of three cards. The two extra come in handy when the primary card is locked up -- it happens. Three cards got us through when my wallet was stolen and we had to stop two of the cards. All three cards have PINs and can be used in an ATM. One can function as a debit card. We have Xerox copies of all three cards (front and back) hidden on the boat to know who to call if something happens. We keep enough cash in $20 bills to spread around if we need it to get the boat out of a jam or to use when credit cards are not accepted. We pay the charges on line when we have an internet connection.

We have a bank acount with a large credit union and accounts with two major investment houses. All three answer the phone.

In Gibraltar I had no trouble getting cash from the Midland ATM with a Midland Bank card. I got to pick either UK pounds or Gib Pounds.

Bill Murdoch
__________________
wsmurdoch is offline   Reply With Quote
Old 14-12-2011, 15:55   #36
Senior Cruiser
 
Vasco's Avatar

Cruisers Forum Supporter

Join Date: Apr 2004
Location: Toronto
Boat: CS36Merlin, "La Belle Aurore" Ben393 "Breathless"
Posts: 7,138
Re: Cruising with money...

I think traveler's cheques have gone the way of the dodo bird. American Express is now introducing a pre-loaded card, load it up, one free ATM withdrawal a month, then $2 each withdrawal plus ATM charges if applicable, what a deal!!!
__________________
Rick I
Toronto in summer, Bahamas in winter.
http://groups.yahoo.com/group/beneteau393/
Vasco is offline   Reply With Quote
Old 14-12-2011, 16:31   #37
Senior Cruiser

Cruisers Forum Supporter

Join Date: Aug 2009
Location: between the devil and the deep blue sea
Boat: a sailing boat
Posts: 17,314
Re: Cruising with money...

Debit and credit cards best. Cash second best. Rum almost as good as cash. But you cannot buy baguettes at Carrefour with rum ... at least not in French places ;-)

b.
__________________
barnakiel is offline   Reply With Quote
Old 14-12-2011, 16:39   #38
Registered User
 
Sand crab's Avatar

Join Date: Oct 2010
Location: Gig Harbor, WA
Boat: 34' Crowther tri sold 16' Kayak now
Posts: 3,157
Re: Cruising with money...

Quote:
Originally Posted by Vasco View Post
I think traveler's cheques have gone the way of the dodo bird. American Express is now introducing a pre-loaded card, load it up, one free ATM withdrawal a month, then $2 each withdrawal plus ATM charges if applicable, what a deal!!!
Walmart has a similar one and no credit check for those of us who are financially impaired. BOB
__________________
Sand crab is offline   Reply With Quote
Old 14-12-2011, 17:40   #39
Senior Cruiser
 
Vasco's Avatar

Cruisers Forum Supporter

Join Date: Apr 2004
Location: Toronto
Boat: CS36Merlin, "La Belle Aurore" Ben393 "Breathless"
Posts: 7,138
Re: Cruising with money...

Quote:
Originally Posted by Sand crab View Post
Walmart has a similar one and no credit check for those of us who are financially impaired. BOB

Why would you need a credit check? The card is useless unless you load it up with cash.
__________________
Rick I
Toronto in summer, Bahamas in winter.
http://groups.yahoo.com/group/beneteau393/
Vasco is offline   Reply With Quote
Old 15-12-2011, 04:33   #40
Armchair Bucketeer
 
David_Old_Jersey's Avatar

Join Date: Oct 2006
Posts: 10,013
Images: 4
Re: Cruising with money...

OP probably trying to work out how worthwhile a target the average yacht is......a bit of pre-planning / research always useful on stuff like that.

My take is probably no hidden horde of cash onboard (on the average boat) - as (being in the 21st Century) no need.

FWIW I also like dealing in cash (nowadays only spending) - Govt can know where my money comes from, but f#ck 'em for knowing where it gets spent!
David_Old_Jersey is offline   Reply With Quote
Old 15-12-2011, 07:47   #41
Registered User
 
Sand crab's Avatar

Join Date: Oct 2010
Location: Gig Harbor, WA
Boat: 34' Crowther tri sold 16' Kayak now
Posts: 3,157
Re: Cruising with money...

Quote:
Originally Posted by Vasco View Post
Why would you need a credit check? The card is useless unless you load it up with cash.
Exactly. Multihulls world did a story about a family of 7 taking a year off for a year in a Lagoon 500. They stashed $100,000 split evenly between euros and greenbacks in several locations on the boat. At the end of the year they had less than $100 left. So that's how much a year of cruising costs. For 7.
__________________
Sand crab is offline   Reply With Quote
Old 15-12-2011, 09:21   #42
CF Adviser
 
Bash's Avatar

Cruisers Forum Supporter

Join Date: Dec 2008
Location: sausalito
Boat: 14 meter sloop
Posts: 7,260
Re: Cruising with money...

Quote:
Originally Posted by mdvick View Post
Moderators??????? I suggest that this be closed.
If a particular post is of concern, it will probably be more effective to use the Report Post button on the lower left of your screen than to call for the thread to be closed. The moderators are generally pretty quick to enforce the "Be nice" rule when members begin calling each other names.
__________________
cruising is entirely about showing up--in boat shoes.
Bash is offline   Reply With Quote
Old 15-12-2011, 09:33   #43
Moderator Emeritus
 
FrankZ's Avatar

Cruisers Forum Supporter

Join Date: Sep 2006
Location: Chesapeake Bay
Boat: Bristol 35 Bellesa
Posts: 13,565
Images: 1
Re: Cruising with money...

I have removed several posts that were either off topic or rude. Let's stay on track as this thread could provide valuable advice, but we are not going to tolerate the name calling and rudeness.
__________________
Sing to a sailor's courage, Sing while the elbows bend,
A ruby port your harbor, Raise three sheets to the wind.
......................-=Krynnish drinking song=-
FrankZ is offline   Reply With Quote
Old 15-12-2011, 16:02   #44
Registered User
 
Celestialsailor's Avatar

Join Date: Nov 2006
Location: In Mexico, working on the boat
Boat: Hallberg Rassy 35. and 14ft.Whitehall pulling skiff.
Posts: 8,013
Images: 5
Re: Cruising with money...

Quote:
Originally Posted by Dhillen View Post
Great thread. I knew of one German guy who had his life savings in cash (Marks, no less!) rolled up and stuffed in a coffee can buried deep in the bilge. Yep, they got wet, rotted and he lost most of it. Lesson learned.
Obviously, a mix of cash, credit and ATM cards is the safest way to go. We have used ATM cards successfully everywhere. I find Visa is way more accepted than MC and a lot of places, especially in Asia where I live, won't touch Amex.
WHO uses travellers checks these days? Wow? I gave up on those 25 years ago and have never had a problem travelling to places as diverse as Tibet, Sudan, Sri Lanka, etc. If you like standing in long lines and getting bad exchange rates, this could be for you.
Another good thread would be where on the boat do you stash cash? I used to stuff mine inside my Dickinson diesel boat heater in the tropics. My reasoning was I was NEVER going to use the damn thing and theiving locals wouldn't know what it was and would probably leave it alone.

Cheers.
Dhillen
Interesting about stashing cash. I thought the best idea would be to copy about 20, $100 bills and stash those in a sort of easy place to find (but not too obvious). Making sure the real stuff is well stashed. They would grab it...flee and get busted trying to move counterfeit.
__________________
"Life is not a journey to the grave with the intention of arriving safely in a pretty and well-preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming: Wow - what a ride!"

http://wwwjolielle.blogspot.com/
Celestialsailor is offline   Reply With Quote
Old 15-12-2011, 17:32   #45
Registered User
 
Sand crab's Avatar

Join Date: Oct 2010
Location: Gig Harbor, WA
Boat: 34' Crowther tri sold 16' Kayak now
Posts: 3,157
Re: Cruising with money...

Quote:
Originally Posted by Celestialsailor View Post
Interesting about stashing cash. I thought the best idea would be to copy about 20, $100 bills and stash those in a sort of easy place to find (but not too obvious). Making sure the real stuff is well stashed. They would grab it...flee and get busted trying to move counterfeit.
Yes, except you could be busted for counterfeiting, too.
__________________

__________________
Sand crab is offline   Reply With Quote
Reply

Tags
cruising, money

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Making Money Whilst Cruising - How Did that Turn Out ? David_Old_Jersey Boat Ownership & Making a Living 16 21-12-2011 11:14
For Sale: VHFs, Offshore Medical Kit, Cruising Guides, Chart Cards, etc. svdreamkeeper Classifieds Archive 0 04-12-2011 18:10
For Sale: Cruising Guides and Sailing Resource Books svdreamkeeper Classifieds Archive 3 23-11-2011 12:24
Cruising Info on Israel ? multihullsailor6 Europe & Mediterranean 7 22-11-2011 13:50
World Cruising Club at Annapolis Boat Show Hud3 Cruising News & Events 4 13-10-2011 04:55



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 19:46.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.