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Old 06-05-2017, 13:04   #1
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How much cash aboard?

We are going to start living aboard and wanted to know from some of you some tips about how much money to carry in cash, how to carry etc, where do you withdraw money ( money ghram?)


We will start living aboard in Grenada this winter and in March will start sailing into south pacific hopefully going worldwide
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Old 06-05-2017, 13:08   #2
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Re: How much cash aboard?

Cash machines almost everywhere, even Pacific Atols. Never had a problem between Miami and New Zealand.
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Old 06-05-2017, 13:13   #3
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Re: How much cash aboard?

There are cash machines just about everywhere. Sometimes the limits from these machines isn't very big so 2 cash cards is better. You can't depend on them all the time either so don't run out of local cash. We have a little bit of US cash on board but it usually in too big a bill to buy a drink with.
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Old 06-05-2017, 13:51   #4
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Re: How much cash aboard?

Another vote for ATM's. They are everywhere.
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Old 06-05-2017, 14:07   #5
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Re: How much cash aboard?

Cash? What's that?
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Old 06-05-2017, 14:10   #6
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Re: How much cash aboard?

When I climbed Mt Everest i was really surprised up at the summit. I knew there woukd be a flag there - its in all the photos... but also theres an ATM!

😊
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Old 06-05-2017, 14:45   #7
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Re: How much cash aboard?

I think you should have enough to pay for any emergency including any possible fines that might be levied against the vessel. I was told that some port captains are corrupt and to always have cash stashed aboard for this reason. Better to have and not need than the other way around.
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Old 06-05-2017, 14:50   #8
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Re: How much cash aboard?

If you're new to int'l expat life, make sure to line up multiple banks, multiple cards, all of which don't tack on the overseas per-withdrawal fee, make sure you can arrange for high daily limits, let them know where you're travelling so the AI red flags don't get your card canceled, and finally, don't keep all the cards in the same place.

A trusted friend with power of attorney over your accounts can also greatly speed up solutions to SNAFUs.

A hidden stash of a few thousand USD in $20's can really come in handy sometimes too. . .
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Old 06-05-2017, 16:08   #9
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Re: How much cash aboard?

If you are a Canadian, then go get a Scotiabank account. There are actual Scotiabank's all over the Carribean (even in DR). They have partner banks (no fees) in every corner of the globe.
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Old 06-05-2017, 16:29   #10
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Re: How much cash aboard?

Quote:
Originally Posted by john61ct View Post
If you're new to int'l expat life, make sure to line up multiple banks, multiple cards, all of which don't tack on the overseas per-withdrawal fee, make sure you can arrange for high daily limits, let them know where you're travelling so the AI red flags don't get your card canceled, and finally, don't keep all the cards in the same place.

A trusted friend with power of attorney over your accounts can also greatly speed up solutions to SNAFUs.

A hidden stash of a few thousand USD in $20's can really come in handy sometimes too. . .
Similar to what I do except no POA.

Multiple cards on multiple bank accounts (some USA some foreign). High limit CC for if the poo really hits the fan. Cash is king so keep a small stash, but not a lot (too much can get you in a jam with authorities if discovered and undeclared...like over $10K).

International ATMs are almost everywhere with any signficant population these days. We use them almost exclusively for travel and cruising. Larger withdrawals keep fees down relatively.

Multiple cards are good if you need a lot of cash or have trouble with a card.

On line access to all accounts so you can confirm no bogus transactions often.

In a pinch you could use services like Western Union, but fees are high.

I also maintain a Skype phone number which is registered on all accounts. I forward to local cell so if the bank calls I can answer. Really speeds up the process of resolving issues if you answer when they call your registered number. Also you find out about issues sooner.
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Old 06-05-2017, 17:50   #11
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Re: How much cash aboard?

If you live by cash, you have cash obnoard. Otherwise minimum cash maximum cards.

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Old 07-05-2017, 04:28   #12
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Re: How much cash aboard?

Quote:
Originally Posted by jferline View Post
We are going to start living aboard and wanted to know from some of you some tips about how much money to carry in cash, how to carry etc, where do you withdraw money ( money ghram?)


We will start living aboard in Grenada this winter and in March will start sailing into south pacific hopefully going worldwide
In really remote places without ATM s cash isn't necessarily that useful. Try fuel or food . I keep some cash in my own currency, plus local, plus Us dollars and multiple cards. I am not telling you where, though
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Old 07-05-2017, 05:54   #13
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Re: How much cash aboard?

Cash?

None, nada, zippo. Pay with VISA or Mastercard for everything.
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Old 07-05-2017, 06:04   #14
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Re: How much cash aboard?

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Originally Posted by Kenomac View Post
Cash?

None, nada, zippo. Pay with VISA or Mastercard for everything.
Wow.. Interesting to know thats an option in the Med.

Down here in the Carribean that would only work in about %50 of places. Even then, the "systems" go down on some islands enough to make it not work. More than once I have been with a buddy boat that had to leave a cart full of groceries because they couldn't accept cards. Even the superyatch crews carry some cash for those situations.

However, I very much agree with your philosophy. Carry the absolute minimum you can.
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Old 07-05-2017, 06:09   #15
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Re: How much cash aboard?

Quote:
Originally Posted by MarkJ View Post
When I climbed Mt Everest i was really surprised up at the summit. I knew there woukd be a flag there - its in all the photos... but also theres an ATM!

😊
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...
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