How much cash aboard?

[belizesailor]

Ive misplaced cash/wallet numerous times in Guatemala. Always had it returned...and often it was a lot of money relatively for the poor people who found it.

Depends a lot on the venue...funny how petty relatively afluent people can be about money.

[a64pilot]

Some places, Indonesia for example if you use cash, the charge ridiculous rates, reason is counterfeiting is so bad.
You have to have perfect bills, and only certain years and serial number ranges are accepted.

[Hudson Force]

Originally Posted by a64pilot

Some places, ..................
..................... You have to have perfect bills, ........

It was surprising to me to find this among the Riberneros communities of the Upper Amazon. If we were using paper currency for goods the value was tied to the condition. Sellers would inspect each bill and any torn edges or wear would be cause for renegotiation. 'not so much of a problem in the larger communities.

[belizesailor]

Less than perfect US$ currency is a problem in much of Central America too. Typically merchants wont accept them because they have trouble getting the bank to take them. Larger banks will be a little more accomodating, but even they will reject some. Very true in the CA4 (Guatemala, Honduras, Nicaragua, El Slavador).

Panamá economy is dollarized (uses US$ directly) so bill condition is no more of an issue than in the USA. A handy benefit of this is that you can spend USA coins. You cant do this anywhere else in Central America because the money is actually physically shipped back to the USA for exchange. Coins weight a lot, and complicate bank inventory so they dont handle them...small change is made in local currency only.

[john61ct]

This is true in all the developed world, and fault lies with the supply chain trying to return them from overseas back to the Fed.

Why would you accept a torn bill if you knew it was likely to be refused at the exchange?

[CaptsWife]

Originally Posted by belizesailor

Less than perfect US$ currency is a problem in much of Central America too. Typically merchants wont accept them because they have trouble getting the bank to take them. Larger banks will be a little more accomodating, but even they will reject some. Very true in the CA4 (Guatemala, Honduras, Nicaragua, El Slavador).

Panamá economy is dollarized (uses US$ directly) so bill condition is no more of an issue than in the USA. A handy benefit of this is that you can spend USA coins. You cant do this anywhere else in Central America because the money is actually physically shipped back to the USA for exchange. Coins weight a lot, and complicate bank inventory so they dont handle them...small change is made in local currency only.

Good to know, thanks!

[Jdege]

Originally Posted by Scotty Kiwi

I had to give up hiding cash. Too many surprises.

Pleasant ... wad shows up in an unexpected place, unpleasant, when you move it during a wild night.

Telling the wife doesn't help, as her wild nights co-incide.

Remember that bit from the Bourne Identity? Jason Bourne wakes up with a gunshot wound, a safe deposit box number, and no memory of who he was or what was in the box.

He opens the box and finds hundreds of thousands of dollars, euros, etc.

I can't tell you how many times I've found a box in the basement or attic and had no memory of what I put in it.

It's never been hundreds of thousands of dollars.

It's just not fair.

[Rudderless]

Originally Posted by Jdege

Remember that bit from the Bourne Identity? Jason Bourne wakes up with a gunshot wound, a safe deposit box number, and no memory of who he was or what was in the box.

He opens the box and finds hundreds of thousands of dollars, euros, etc.

I can't tell you how many times I've found a box in the basement or attic and had no memory of what I put in it.

It's never been hundreds of thousands of dollars.

It's just not fair.

Hell, I'm thrilled if, when I get out my winter or spring jacket, I find a 20. Actually, I'm pretty darned happy if I find a fin and a handful of change...

[Jdege]

Originally Posted by Rudderless

Hell, I'm thrilled if, when I get out my winter or spring jacket, I find a 20. Actually, I'm pretty darned happy if I find a fin and a handful of change...

I found brick of .22LR I'd bought, back when you could buy 500 rounds for $5.

[AiniA]

Lots of good ideas here even if there are some contradictions. Few more -
- In some less developed countries the use of credit cards is limited and cash is king.
- The best approach varies from country to country and region to region. In some places ATMs are very easy to use while in others there are problems (low daily limits for example).
- We have used US dollars for high ticket items and have kept a stash of hundred dollar bills for this (used to carry more, now not so much since credit cards and ATMs are better. As well as the physical appearance of the bill, in some countries they will only accept the most recent series of bills - I think because the older bills are easier to counterfeit. We kept our stash in a baggie rather than an envelope. The hundred dollar bills are almost useless on the street, make sure to have a supply of US$1 and US$5 bills too.
- We use a phony wallet if we are going ashore in a sketch location (hello Colon). Onboard this is kept in an obvious location in the chart table. In it we have an old credit card, a library card and a fair number of bills, from various countries. Good ones to have are from countries like Indonesia where the currency is not worth much so a 1000 denomination bill looks impressive but is worth less than 10 cents. My wife made a money belt that goes inside her clothing if we need to carry a significant amount of cash in some places.
- People do loose money stashes onboard. We had South African friends who had lost a package of traveller's cheques on their catamaran (a problem os such a large boat?)

[rick.frazier]

Originally Posted by Wotname

Yeah but I bet your account was frozen so it would have been better to have cold hard cash to buy yourself an icy pole...

Bravo!!!!

[mikedefieslife]

It's funny that before I went to Argentina there were stories that they would only accept crisp dollars/Euros/pounds etc.. then i got there and saw the tatty 2,5,10 peso notes they were using. Many barely had any print on them at all.

Anyway, for those with a UK address, there are a good number of cards with no ATM fees and near perfect exchange rates. Here's a round up of a few.

http://moneysavinganswers.com/travel...ds-for-travel/

[john61ct]

Originally Posted by mikedefieslife

It's funny that before I went to Argentina there were stories that they would only accept crisp dollars/Euros/pounds etc.. then i got there and saw the tatty 2,5,10 peso notes they were using. Many barely had any print on them at all.

As I stated above the issue is only foreign money, out of the control of the local banking system. Within any given country and also close/neighboring currencies that government can set its own rules, lots more latitude.

In Thailand, with the King's image on all currency, allowing a note to be mistreated is akin to sacrilege, can actually be prosecuted for Lèse majesté. If you drop a coin in public, do not stop it rolling by stepping on it!

[indiana_ct]

Originally Posted by mikedefieslife

It's funny that before I went to Argentina there were stories that they would only accept crisp dollars/Euros/pounds etc.. then i got there and saw the tatty 2,5,10 peso notes they were using. Many barely had any print on them at all.

Anyway, for those with a UK address, there are a good number of cards with no ATM fees and near perfect exchange rates. Here's a round up of a few.

The best credit cards for travel and foreign currency

Very useful information on the credit cards and it's not so often I find a UK citizen relevant post.