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Old 24-06-2011, 07:12   #16
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Re: Money management ?

Never met anyone who would refuse to take good old "greenbacks". In the Bahamas many rely on ATM's but the ATM's aren't too reliable or available, especially in the Exumas.
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Old 24-06-2011, 07:15   #17
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Re: Money management ?

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Originally Posted by David_Old_Jersey View Post
The good news is that I did once have some interests in the world of micro finance lending in the 3rd world - unfortunately, having just checked the CF rules , I see that most of the related funny stories......aren't funny

If you are interested, I would obviously want a Facility Fee up front and if you can also let me know your blood group and whether your kidneys are still in good order...........just for the paperwork
The kidney are fine ... working overtime at night ... all night!

I'm a little short this month so maybe we could put the Facility Fee on your cc for now?
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Old 24-06-2011, 07:38   #18
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Re: Money management ?

I've travelled around the world quite a lot now, and I think the best thing to do for you is to have a debit card with an international bank such as HSBC. Visa cards are the most accepted around the world, although Mastercard works too.
Even though it might seem not as safe than with a credit card, you can always dispute any charge on your debit card if it has been stolen (and since you can find HSBC banks pretty much everywhere, you can just go to the nearest bank to take care of it).
Travellers checks are also good to have, just in case...
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Old 24-06-2011, 07:46   #19
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Re: Money management ?

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I've travelled around the world quite a lot now, and I think the best thing to do for you is to have a debit card with an international bank such as HSBC. Visa cards are the most accepted around the world, although Mastercard works too.
Even though it might seem not as safe than with a credit card, you can always dispute any charge on your debit card if it has been stolen (and since you can find HSBC banks pretty much everywhere, you can just go to the nearest bank to take care of it).
Travellers checks are also good to have, just in case...
I'm a big fan of HSBC and that's what I use but they aren't everywhere. I'm in Krabi, Thailand near Phuket and the nearest HSBC Bank is almost 500 miles away in Bangkok.
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Old 24-06-2011, 07:54   #20
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Re: Money management ?

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I'm a big fan of HSBC and that's what I use but they aren't everywhere. I'm in Krabi, Thailand near Phuket and the nearest HSBC Bank is almost 500 miles away in Bangkok.
Yes that is true, I guess by "everywhere" I meant "in most countries". I think HSBC is really the bank which is the most present internationally.
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Old 24-06-2011, 08:05   #21
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Re: Money management ?

best money management--DONT SPEND!!!!
only place i couldnt use a debit card so far was in cedros--only way to get money there is western union, especially if ye dont hold a mexican bank account.
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Old 24-06-2011, 12:38   #22
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Re: Money management ?

It's a good idea to carry two different credit cards in case one is compromised and shut down. It can take as long as two to three weeks to get replacement cards in some parts of the world. Also, CapitalOne is another card company that doesn't charge a currency conversion fee.
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Old 28-06-2011, 06:33   #23
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Re: Money management ?

Just saw a news story on this subject, how odd is that? Go to Travelex World Wide Money, it's for global travelers. They can issue you a chipped version of a pre- paid debit/cc in a globally(?) recognized form with insurance. Also you can get locked in exchange rates and fees or buy a card for a specific country in their currency . Sounds interesting and safe to me, looking into it.
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Old 28-06-2011, 06:46   #24
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Re: Money management ?

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Originally Posted by Hud3 View Post
It's a good idea to carry two different credit cards in case one is compromised and shut down. It can take as long as two to three weeks to get replacement cards in some parts of the world. Also, CapitalOne is another card company that doesn't charge a currency conversion fee.

two or more. My main card is heavily covered for anti/fraud, but sometimes this leads to being stopped until contact with bank. Not a great situation if this is the only card. (been there, helped out by a friend)

These days I travel with 4 cards, and so far, at least one is working!!
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Old 28-06-2011, 07:21   #25
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Re: Money management ?

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Originally Posted by Orrjames View Post
Just saw a news story on this subject, how odd is that? Go to Travelex World Wide Money, it's for global travelers. They can issue you a chipped version of a pre- paid debit/cc in a globally(?) recognized form with insurance. Also you can get locked in exchange rates and fees or buy a card for a specific country in their currency . Sounds interesting and safe to me, looking into it.
Interesting, but sounded more geared to a vacation traveler to me, not a long term solution for a full time cruiser. Also, $2 or $3 fee per ATM transaction + a monthly fee of $2.50, so the fees could add up.

I still think a good Visa/MC from a bank like HSBC or CapitalOne that doesn't charge a foreign exchange transaction fee is your best option.
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Old 30-06-2011, 15:57   #26
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Re: Money management ?

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We are planning on traveling where ever the wind blows from S. Fl. What is the best way to pay for things in other countries ? Take a boatload of cash? Debit cards? Travelers checks? Any input would help.
To directly answer your questions - The best way to pay for things in a foreign country is with that country's money. Access to "local" money is easy now that ATM machines are rapidly outnumbering T-shirt shops.
- - Taking US Dollars is rather old fashioned since local money is available from ATM's. However, having a "stash" of US Dollars hidden away on the boat is not a bad idea should disaster strike in some uncivilized part of the world. But make that stash out of ten's and twenty's with only a few 50's and 100's. You probably will not be able to get "change" so having small denominations is best.
- - Debit cards are also known as ATM cards - although you can get a "pure ATM" card which is a card that can only be used in an ATM machine and not in a store. Since Debit cards have no US Federal protection against theft/fraud like US Credit Cards, you only have the good faith of your bank to keep your checking account from being cleaned out.
- - There is really little if any need for a Debit card overseas. You pay in local cash or if the amount is large use a credit card. Other posters have mentioned that you need no less than two different credit cards as it is common for your bank to shut down your card if they see strange charges coming from places where obviously you are not located.
- - Also if you notice unauthorized charges on your credit card account you can notify the bank - but these days the bank will simply terminate the card. So you need the second card to use while a replacement new account card is sent to you. This can take a month or more.
- - With all of this it is important to pick a bank/institution that will provide you with internet access to viewing all your accounts and the ability to transfer money between accounts and also to pay off the credit cards, all from on-line access.
- - Beyond that getting and managing your money while cruising the world is very easy now in this modern internet world. The old ways of travelers checks, etc., are pretty much obsolete.
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