If you’re travelling, then you’ll need a safe and secure means of paying for everything – for many, this means carrying cash. You can be reasonably sure that cash will be accepted everywhere; as such, it’s worth carrying it, even if your primary means of payment is digital.
But carrying cash obviously confers risk, since cash can be lost or stolen. Let’s take a look at how this risk might be managed.
Use a money belt or travel wallet
The first approach might be to simply secure the money on your person, to the extent that it can’t be lost or taken from you. There are countless options when it comes to money belts and secure wallets. In some cases, you might even find wallets with built-in protection against the radio frequencies used to take contactless payments. This will protect you against digital pickpockets, as well as traditional ones.
Split your money across different secure locations
If all of your cash is stored in one place, then you’ll be at risk of losing it all at the same time. By splitting it across several different locations, you’ll dilute the risk. One particularly advisable strategy might be to carry only the cash that you need, and leave the rest in a secure safe (or even a hiding place) back at your accommodation.
Don’t carry thousands of poundsworth of foreign currency around with you. To do so is to ask for trouble.
Avoid exchanging money at airports or with unofficial vendors
If you pick up cash at the airport, then you’ll be shopping in a captive market. This can inflate the price you pay considerably. Similarly, you should avoid buying your cash from street vendors, where the risk of scams (or outright mugging) is considerable.
Instead, look for a reputable travel money exchange at home, and arrange to pick up the cash at a convenient location. This will improve your security situation, while also ensuring the best possible rates.
Use prepaid travel money cards as a cashless backup
One of the major advantages of cash is that you’ll take a limited amount of it with you. This can be very helpful when you’re trying to spend responsibly.
There is, however, an alternative payment method that offers the same benefit: the prepaid travel card. They’re safer than cash, they’re widely accepted, and they can be easily topped up or disabled with the help of an app.
