Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 15-11-2012, 07:49   #1
Registered User

Join Date: Oct 2012
Posts: 4
Travelin' Money

I've been readin' and learin' but have not found the answer to one of my questions. When I finally get to start sailing how do I take care of the money. I really don't want to carry several thousand in cash, do most places have ATMs? How about changing to different countries money?
Thanks.
__________________

__________________
joe cool is offline   Reply With Quote
Old 15-11-2012, 14:40   #2
Marine Service Provider

Cruisers Forum Supporter

Join Date: Jul 2010
Location: On the Go
Boat: Various
Posts: 666
Re: Travelin' money

Travelers cheques have gone out of favor but they are still available and are still one safe way to carry funds at home and abroad. Comparison shopping is in order. Some banks provide free travel checks, especially if you have a premium account or large balance. Some ATMS are free, some pricey. Look into the pro and con of both credit cards and debit cards and also compare your credit card for foreign exchange. Some don't charge extra for the conversion, some do.
__________________

__________________
Janet Groene
JanetGroene is offline   Reply With Quote
Old 15-11-2012, 14:44   #3
Registered User
 
westsail374's Avatar

Join Date: Jul 2012
Location: Durham, NC
Boat: Looking...
Posts: 318
Re: Travelin' money

Find safe secret spots on yer boat and secrete cash away.

Note - inside bedding materials not good idea.
__________________
westsail374 is offline   Reply With Quote
Old 15-11-2012, 17:34   #4
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: Travelin' money

Cards and small amt of cash (USD and EUR accepted nearly everywhere).

That's today because tomorrow we might have alternative ways.

b.
__________________
barnakiel is offline   Reply With Quote
Old 16-11-2012, 18:42   #5
Moderator
 
Hudson Force's Avatar

Cruisers Forum Supporter

Join Date: Nov 2008
Location: Lived aboard & cruised for 45 years,- now on a chair in my walk-in closet.
Boat: Morgan OI 413 1973 - Aythya
Posts: 7,894
Images: 1
Re: Travelin' Money

We cruise in a similar manner as Barnakiel decribes. We usually have less than $500 cash tucked away and a couple of cards. We have found that it is necessary to keep two credit cards separately. It is very easy to quickly deactivate a compromised card, but not so quick for the cruiser to replace the card. It is also necessary to keep your cardholder services or customer services aware of your travel expectations. Without clear communication with the card security agencies you can quickly find your card useless while traveling. I apprceciate all the efforts to prohibit fraud, but if you are cruising you must be proactive. We recently deactivated one of our cards when a statement online showed that it was used at an inland location over a period of time when we were offshore while our cards remained in our possession. I hope we can soon tie card use to a postive biologically based ID,- prints, scans, etc., on a regular basis.
__________________
Take care and joy, Aythya crew
Hudson Force is offline   Reply With Quote
Old 16-11-2012, 19:18   #6
Marine Service Provider

Join Date: Oct 2010
Location: floating around ... hopefully in aqua clear swimming pool water!
Boat: 1985 Passport 37
Posts: 172
Re: Travelin' Money

Depending on where you're cruising, travelers checks are never accepted! So do your research ahead of time!

We carry more cash than some, stashed in several places inside the boat -- never the mattress.

When we're out of the country, we have one VISA card specifically for the purpose of using outside the country. We set it up for an automatic monthly payment of $100 so that way we're never "late" with a payment because we weren't in internet range to make our payment.

We also have the normal credit card we use in the US for a backup, just in case the "out of the country" VISA is compromised and has to be de-activated. Not easy to get a replacement card in the places we've cruised.

Be sure to shop around for the ATM fees for whatever VISA card you choose to take internationally.

Also, before you leave, be SURE to call and let the VISA folks know you'll be traveling in these out of the way countries and to PLEASE not flag your card as fraud because charges come in from the Rey Supermercardo in Portobello Panama!

Enjoy!
__________________
Cheers! Jan

http://commutercruiser.com
sv Winterlude is offline   Reply With Quote
Old 16-11-2012, 19:36   #7
Registered User

Join Date: Sep 2012
Location: Australia
Boat: Franz Maas 37
Posts: 237
Re: Travelin' Money

There is quite a variety of sneaky safes available through the internet. Here's a nifty one JB Oil Treatment Diversion Can Safe Do a bit of creative googling and you will find them as bean cans, beer cans etc.
__________________
Auzzee is offline   Reply With Quote
Old 16-11-2012, 19:46   #8
Registered User

Join Date: May 2008
Location: daytona beach florida
Boat: csy 37
Posts: 2,844
Images: 1
Re: Travelin' Money

lots of good advice given. good to know that the dollar is widely accepted, especially in the bahamas and caribbean. in the bahamas the us dollar and bahamian dollar are 'on par' (the bahamian national bank guarantees an equal exchange rate) and used interchangeably. it's a little weird but not uncommon to pay for something, or receive change for a purchase, in a combination of us and bahamian money.

we keep cash on the boat, well hidden. we use one debit card and one credit card, although we have several more. the debit card is on an account in the usa which is topped up monthly by uncle sam (social security). the credit card is on an account in the usa that has the monthly minimum payment amount automatically paid to it every month, so i don't have to worry if i miss a monthly payment. i can pay more if i want to.

try to keep track of your accounts by internet whenever possible. also, be sure to notify your cardholder that you will be traveling. once we didn't and they nearly closed our account for suspected fraud when they had charges coming in from foreign countries and couldn't reach us on the phone.

if you're only traveling in the usa then it's no different on the boat than it is on land.
travelers checks, by the way, have pretty much gone the way of the dodo bird....
__________________
onestepcsy37 is offline   Reply With Quote
Old 16-11-2012, 19:54   #9
Registered User

Join Date: Jul 2009
Location: Deale, MD
Boat: Westsail 28
Posts: 684
Images: 12
Re: Travelin' Money

Quote:
Originally Posted by Auzzee View Post
There is quite a variety of sneaky safes available through the internet. Here's a nifty one JB Oil Treatment Diversion Can Safe Do a bit of creative googling and you will find them as bean cans, beer cans etc.
Very cool little safe!
__________________
virginia boy is offline   Reply With Quote
Old 16-11-2012, 20:36   #10
Registered User

Join Date: Dec 2009
Posts: 3,016
Images: 4
Re: Travelin' Money

The simple life dictates one carries cash for all the regular purchases. It is not uncommon for a yacht to have several thousand aboard. Secreting it on the boat is easy ... don't put it in anything that might get tossed out.
__________________
daddle is offline   Reply With Quote
Old 19-11-2012, 07:22   #11
Registered User
 
The Other Gary's Avatar

Join Date: Sep 2012
Location: Frenchmans Bay, Ontario
Boat: Bayliner 3988 MY
Posts: 49
Re: Travelin' Money

I have a proper electronic safe thru bolted and 5200 in place in a salon cupboard where it is easy to find. It contains my insurance policies, copies of boat papers
and less than $100. The real stuff is elsewhere.
__________________
The Other Gary is offline   Reply With Quote
Old 19-11-2012, 07:41   #12
Moderator
 
carstenb's Avatar

Cruisers Forum Supporter

Join Date: May 2012
Location: Copenhagen
Boat: Jeanneau Sun Fast 40.3
Posts: 4,942
Images: 1
Re: Travelin' Money

Actually it is a good idea to keep copies of you boat papers etc hidden along with you cash. That way if your "proper" papers get lost or stolen, you have a back-up set.

It is very easy to find places to hide cash on a boat. Just make sure it is waterproof.
__________________
I spent most of my money on Booze, Broads and Boats. The rest I wasted - Elmore Leonard
carstenb is offline   Reply With Quote
Old 19-11-2012, 07:49   #13
Registered User

Join Date: Oct 2012
Posts: 4
Re: Travelin' Money

Thanks every one ,I only need 126,000 more pieces of information about sailing and I can qualify as a rookie!!
__________________
joe cool is offline   Reply With Quote
Old 19-11-2012, 07:52   #14
Moderator
 
carstenb's Avatar

Cruisers Forum Supporter

Join Date: May 2012
Location: Copenhagen
Boat: Jeanneau Sun Fast 40.3
Posts: 4,942
Images: 1
Re: Travelin' Money

we were all there once...........
__________________

__________________
I spent most of my money on Booze, Broads and Boats. The rest I wasted - Elmore Leonard
carstenb is offline   Reply With Quote
Reply

Tags
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
Make Money While Cruising - List Agility Boat Ownership & Making a Living 1461 19-10-2017 12:47
How Much Money Do You Need to Live Aboard ? Catamoron Boat Ownership & Making a Living 20 19-11-2011 16:00



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 06:46.


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.