How Much Cash Do You Take Abroad

[newhaul]

Originally Posted by a64pilot

I guess I have been lucky and only once had credit card fraud and that was I guess in 95 or so.
However I’m not seeing the advantage of the pre paid credit card over a regular credit card, nor over cash?
I know on my Amex card I’m not liable for fraud, however for my debit card I don’t think I have that protection, I think they can get at least the daily limit and your out?
How about these reloadable cards? Gut feeling is if they are compromised and zeroed, your out the money.

if personalized they do have some fraud protections.

[belizesailor]

Originally Posted by a64pilot

I guess I have been lucky and only once had credit card fraud and that was I guess in 95 or so.
However I’m not seeing the advantage of the pre paid credit card over a regular credit card, nor over cash?
I know on my Amex card I’m not liable for fraud, however for my debit card I don’t think I have that protection, I think they can get at least the daily limit and your out?
How about these reloadable cards? Gut feeling is if they are compromised and zeroed, your out the money.

Most debit cards have some libility limits. Best to check w your bank for specifics.

[TheThunderbird]

I feel happy when l can set aside 1500-2000eur
I find it a contingency for any immediate need to the boat, had the situation arise.

I am frugal, and can live onboard without any spending for several weeks...when out of country,a return ticket and medical emergencies should be granted.

When in need, it is hard to find help locally, but your own consulate/embassy.

If l had things to conceal...submerged into the diesel tank or into the masthead..

[belizesailor]

Originally Posted by boatpoker

PS. I once surveyed a 41' Formosa. These boats have a curious layout and I managed to get between the hull and the outboard bulkhead in the head. As I was feeling around in the dark on the underside of the deck I found a loose piece of FRP. I gave it a yank and pulled off a sheet of glass about 2' sq. Once I managed to squeeze back out to daylight I found laminated between two layers of glass, $5,000 in old style Canadian $100 dollar bills.

Apparently the original owner (deceased) had circumnavigated. I guess this was his stash. Six subsequent owners missed it.

Good story.

Mine is not as elaborate, but in 2001 we stashed cash reserves in several locations on the boat. Took off cruising. On our return later that year, a guy cleaning the boat stumbled across one of the stashes. We had totally forgotten about it, he could have kept it and we would have never known, but he brought it to me...and I gave him a nice tip.

Tangentially related story about hiding money. During the height of the drug trade years in Colombia so much cash was coming in that they started plaster into the walls of houses. Still today people stumble across these stashes.

[Dockhead]

Originally Posted by a64pilot

I started the thread how long do you provision for, and along a similar note, how much Cash in US or other currency do you take with you as a just in case?
When we flew to the Bahamas years ago I used to carry considerable cash as often you couldn’t buy fuel any other way, and sometimes the ATM’s were inop for many different reasons, plus if you paid cash, sometimes you could get some decent discounts.
We are headed towards the Western Caribbean starting in Mexico and headed South.
How much should we take aboard, and along another line of reasoning, how do you hide, or secure it?
I’m thinking take a months of the budget, and to secure it in some kind of lockbox that can be decently hidden, but due to its size, not really hidden well.
I understand the hide it theory so a thief can’t find it, yet am slightly concerned that an inspector may find it during an inspection and could possibly slip out with it as it’s just in an envelope, while a lock box isn’t so easy to hide on your person.
Then I’m sure there is a max amount your allowed to show up with, and maybe too much makes you look suspicious?

The world has changed a lot.

I use cash almost not at all. If necessary I take small amounts out of ATMs, but in Europe anyway you can buy anything, even a stick of chewing gum, with a contactless debit card.

It might be different in Central America, but I doubt by much. That kind of technology tends to spread fast.

[Vasco]

Originally Posted by Dockhead

The world has changed a lot.

I use cash almost not at all. If necessary I take small amounts out of ATMs, but in Europe anyway you can buy anything, even a stick of chewing gum, with a contactless debit card.

It might be different in Central America, but I doubt by much. That kind of technology tends to spread fast.

Not in the Bahamas. I think in the Exumas, a 130 mile stretch of 300 odd islands there are still only 2 ATM's and they are both in Georgetown. Once you get south of Nassau they are few and far between.

[zboss]

We always end up using far less in cash than we have on hand but we usually end up taping up some bills around the boat in many locations, along with an additional picture ID.

[sailorboy1]

Originally Posted by Vasco

Not in the Bahamas. I think in the Exumas, a 130 mile stretch of 300 odd islands there are still only 2 ATM's and they are both in Georgetown. Once you get south of Nassau they are few and far between.

Yeah but there aren't a lot of places to even spend money and where there is they mostly accept credit cards. Which is the point on not having to worry about having a lot of cash.

[Vasco]

Originally Posted by sailorboy1

Yeah but there aren't a lot of places to even spend money and where there is they mostly accept credit cards. Which is the point on not having to worry about having a lot of cash.

How many places have you been to in the Exumas? Ever bought local produce from a farm? Ever helped the local economy by getting fish from the fishermen? Ever have a dinner for eight made in the house of a local? If you've only been there once you've probably gone to the Park, Staniel Cay and Georgetown. Maybe Farmers Cay. There is much more to the Exumas. If you go there enough you will realize that only larger establishments accept credit cards. But that is not why we go the the Bahamas. We don't go there to see Sandals Resort(s) or Mega Yacht Marinas. Try and get groceries any place other than Georgetown with a credit card. And even there they charge a premium if you use your credit card.

I will agree that if you're just spending a week or two passing through and have provisioned well before coming you don't need a lot of cash but if you spend a few months doing the out islands cash is the only way to go.

[a64pilot]

Originally Posted by Dockhead

The world has changed a lot.

I use cash almost not at all. If necessary I take small amounts out of ATMs, but in Europe anyway you can buy anything, even a stick of chewing gum, with a contactless debit card.

It might be different in Central America, but I doubt by much. That kind of technology tends to spread fast.

I have travelled a lot in Central America delivering aircraft into I’m sure every Country there, but really did very little of the coast.
Very often it’s a different world than the US and Europe. However the coasts and specifically where foreign boats go may well be different than inland.
Seemingly the only real technology that has spread everywhere I have been is the cell phone.
You can live in a Shack in a banana plantation with a dirt floor and your shoes are made from old tires etc., but you have a smart phone.
May not have electricity to charge it, but you have one.

[boatpoker]

Originally Posted by sailorboy1

When I went to the Bahamas I took $500 (300 for the check in). Didn’t get cash again for 2 months. I’ve vacationed in Mexico at least 10 times and have never taken more than $500.

My cash back credit card makes up pretty much for foreign transactions and extra percent and it does it takes a long time to run out of cash. When getting low on cash I have always had lots of time to come across an ATM before running out.

If I lose my credit card I’m out a max of $50. I’ve had it hacked at least 6 times and it never has cost me anything and I have backup cards. If I lost my cash I’m out of it all.

Last year in Bahamas my credit card was cancelled twice due to fraud (within six months). What a nightmare to get those cards replaced. Last week my visiting son tried 3 ATM's (one at Freeport Airport) none of them worked.

[Vasco]

Originally Posted by boatpoker

Last year in Bahamas my credit card was cancelled twice due to fraud (within six months). What a nightmare to get those cards replaced. Last week my visiting son tried 3 ATM's (one at Freeport Airport) none of them worked.

This is not unusual. That is why I no longer use a credit card anywhere in the Bahamas. The hassle to get a new one is unbelievable as I mentioned in an earlier post (#4). Even the two ATM's I cited in GT suffer outages, are empty or only dispense Bahamian currency which is virtually unchangeable when you get home. If you use a card often enough in the Bahamas you will find it declined sooner or later. This is from personal experience and in talking to Bahamas cruisers.

[Auspicious]

Originally Posted by Vasco

... only dispense Bahamian currency which is virtually unchangeable when you get home.

I haven't had any trouble at any bank with an international trade. Sometimes you have to call ahead. You'll pay a transaction fee. I find it easier to change back to USD at a marina or tourist restaurant. Never a problem.

[Charlie]

A little off topic but . . . Are traveler's cheques accepted anymore. I can't remember the last time I used them but remember something about them not being commonly accepted because the are so easily forged.

[Vasco]

Originally Posted by Charlie

A little off topic but . . . Are traveler's cheques accepted anymore. I can't remember the last time I used them but remember something about them not being commonly accepted because the are so easily forged.

Last time I used them was about thirty years ago and the bank balked at cashing two $100 ones saying $100 was their limit. I see American Express still has them but can't imagine anyone using them.