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Old 16-08-2013, 05:50   #16
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Re: Living abroad, do you bring cash or credit cards?

MAI-Tide,

You don't mention where you're from. If the US, look into a CapitalOne credit card--no currency conversion fees. Bank of America has a travel card that doesn't apply conversion fees, either.

We never carried much cash in the eastern Caribbean. You get a better deal using local currency. The French islands (excepting the French side of St Martin) won't take US dollars, only Euros. There were ATMs dispensing local currency practically everywhere. Exchanging US dollars for local currency requires standing in line in banks and paying exchange fees. Traveler's checks are a PITA.
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Old 16-08-2013, 06:08   #17
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Re: Living abroad, do you bring cash or credit cards?

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Originally Posted by captain58sailin View Post
IF I were carrying that kind of currency, you would never know it, nor would you find it if you did know. I keep it firmly lodged with my 200 lb. Rottweiler and he doesn't like anyone, not even me.
Hutch weighs only 130 lbs, keeps that mostly in his belly (good built-in flotation device), is a big puddy tat, and likes most everybody. He's probably not a good place for my cash?

Seriously, it's a wonder more yachtees aren't robbed with it's being known they typically carry significant cash...
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Old 16-08-2013, 07:29   #18
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Re: Living abroad, do you bring cash or credit cards?

Kahuna was the exception to the rule, bigger than any other Rottweiler, I have ever seen, he also loved my Wife and I totally, but God help the soul that presented a threat. Sadly he passed last spring from liver cancer. We miss him greatly.
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Old 16-08-2013, 07:52   #19
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Re: Living abroad, do you bring cash or credit cards?

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Originally Posted by Mai-tide View Post
should we bring cash, if so how much?
I have
ZERO
cash on my boat.

If you want to be robbed have cash on your boat.

In every country in the world the ATMs are ubiquitous. You can always get money on your bank cards anywhere. Theres no need to have any more than a working amount, the amount you can lose and still laugh it off.

At no time, anywhere, have I needed large amounts of any cash, not more than $100.



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Old 16-08-2013, 08:04   #20
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Re: Living abroad, do you bring cash or credit cards?

Hiya Mark! If you were in Egypt for the past few weeks, your credit cards would not have helped you. ATM machines are not working either. Cash is king, no matter what anyone will tell you!

Mauritz
Lotsa places to hide your dough on a boat...
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Old 16-08-2013, 08:23   #21
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Re: Living abroad, do you bring cash or credit cards?

I'll be keeping some of my cash since the banks tend to want to rob you even more than the locals. For the rest, I'm thinking about splitting it between a bank and a credit union in case one of them doesn't get the next bailout, and I'll use the debit card when practical.
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Old 16-08-2013, 08:29   #22
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Re: Living abroad, do you bring cash or credit cards?

i keep very small amounts of cash--i find so far, i can get my money from cash machines everywhere except cedros island village, where one only goes for repairs, not tourism.
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Old 16-08-2013, 08:49   #23
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Re: Living abroad, do you bring cash or credit cards?

So far, most have offered pretty good advice: one needs a small cash reserve. As sail boats use diesel, not avgas, and as their tankage is generally pretty limited, and as where we get the fuel is from gas stations (jerry jugs), trucks or fuel docks, the "cash advantage" for carrying large amounts does not apply in this case.

But there is another "hitch": That in places like Tehana ( in the good ol' US) being found to have $9,500 or so in cash allows them to assume it is for illegal purposes, and can actually lead to a heap of trouble for you.

I think Mark's got it right: don't carry more than you can afford to lose.

For those of you using CCs and Dc's, you'll soon figure out how to minimize extraneous charges!

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Old 16-08-2013, 09:07   #24
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Re: Living abroad, do you bring cash or credit cards?

caarrying too much cash can yeild troubles of all kinds.
i found even in mexico the fuel stations will use and do accept debit cards in transactions, and charge cards and cash, so cash is really irrelevant unless you suffer a disaster and/or need to bribe someone. then cash is king.
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Old 16-08-2013, 09:21   #25
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Re: Living abroad, do you bring cash or credit cards?

My first voyage was funded with cash. Proceeds on the sale of my Dodge 2500 Turbo diesel 4x4.

Not the best choice as other posters have aptly said, because it can be stolen.

I have also used traveler's checks that incur a fee when cashed, and yeild a lower bank exchange rate.

Best for convenience and security is debit card, unless the ATM machine doesn't give it back or suffers damage. Waiting for a replacement can be a PITA. But, at least you get the market exchange rate less ATM and you bank fees that can be significant. Of course, for those times when an ATM may not be available, a combination of cash traveller's checks are good.
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Old 16-08-2013, 09:32   #26
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Re: Living abroad, do you bring cash or credit cards?

3 years ago when i left an diego my bank refused to give travellers cheques. they are no longer used, they said. i was surprised--but after i arrived here and have been cruising here while, like 3 years, during my advances i find no one will even look at a travellers cheque any more. they are useless. good luck with that option, as bancos will not cash international checks nor cheques.

count on use of only cash, debit , credit card , or line of credit.
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Old 16-08-2013, 10:21   #27
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Re: Living abroad, do you bring cash or credit cards?

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I'd say put the money somewhere more secure than your pockets. Keeping your hands over your pockets signals to muggers that you have something you dont want stolen.
Went into an internet cafe in Durban, S.A.. My smart phone was in my right pocket with my cash. Removed phone to get cash. Paid in advance for time on line. Put phone back in pocket.

After leaving the internet cafe I didn't notice the phone was gone for awhile...

If you display it, expect the worse.
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Old 16-08-2013, 10:22   #28
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Re: Living abroad, do you bring cash or credit cards?

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Originally Posted by Teknav View Post
Hiya Mark! If you were in Egypt for the past few weeks, your credit cards would not have helped you. ATM machines are not working either. Cash is king, no matter what anyone will tell you!

Mauritz
Lotsa places to hide your dough on a boat...
really, this is a serious addition to the thread, :bang head:

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Old 16-08-2013, 10:28   #29
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Re: Living abroad, do you bring cash or credit cards?

Cash and Amex Travelers Cheques. The Amex are fairly easy to cash in many places. I've even had street vendors cash them. That's another story though... I would also avoid doing it on the street.
Be sure to keep the receipts and numbers in case your trav checks get stolen you can replace them.
What the third world likes about US Cash and Trav checks is they get them, hold onto them while their country's rampant inflation goes on and then they are worth alot more later!
as mentioned though, Cash is king! convert to local currency asap. Carry everything from $100 bills to $5 bills. You may only be in a "country" (island) for a day or two, but want to go to the local farmer's market etc. local currancy is best for those.... otherwise... they have your number!
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Old 16-08-2013, 10:33   #30
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Re: Living Abroad, do you bring Cash or Credit Cards?

Travellers checks are so 60s/70s , forget them, often no one cashes them, you have to queue in banks etc. Debit/Credit cards. Whats so difficult about it. Its 2013, not 1913

as to rampant inflation , you might remind those " street vendors " of the drop is US currency values !!!!.

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