Carrying Your Holiday Cash Safely

There’s no getting around the need to carry some cash when you’re on holiday. After all, all those little unavoidable expenses have to be paid for somehow. At the same time, you don’t want to carry so much money that you’d be an irresistible target for every snatch thief, pickpocket or knife-wielding robber in the vicinity. For many people, the dilemma is in figuring out just how much cash to take along, and how.

Knowing how much money to take

The guideline most travellers use is to take as much cash as you are comfortable with carrying, and are willing to risk losing. If you’re not comfortable carrying a couple thousand British pounds in your home town, you shouldn’t think about carrying that much while you’re on holiday either. After all, when you’re travelling abroad, you’re likely to stand out as a tourist, and an easy target, so more caution is a good idea. There are plenty of other ways for you to carry the funds without suffering too much anxiety and risk.

The simplest way to protect your holiday fund is to only ever carry as much money as you need for the day on your person. The rest of the fund can be stored somewhere safe, where you can easily access it to replenish your daily supply. Some vacationers will keep their money in the bank and return every day to withdraw the necessary funds. This approach is feasible, provided you don’t mind the numerous trips and the dependency on banking hours or your ATM card.

A slightly less cautious vacationer will carry the major part of their holiday funds with them to their destination and the store it in a secure place. This can be anything from a local bank, to a hotel safe, to a hole dug in a lonely beach (yes, some people really do this!). This approach is feasible, provided you trust the person( s) or place where you entrust your money.

It may also be a good idea to consider stowing away an extra stash of emergency money. This is less of a necessity when you’re travelling on a package tour, as its less likely you’ll run into any emergencies the tour operators can’t handle on your behalf, but if you’re not, extra cash may come in handy if you’re in a tight spot. How big your emergency fund is depends on your budget, but an easy guideline to remember is to keep about US500 tucked away, well concealed and separate from the rest of your funds. There are all sorts of handy hiding places for your emergency stash: the usual money pouches, secret compartments in luggage, even mini-safes designed like ordinary hangers. Just remember to make sure the object its hidden in isn’t likely to be stolen — hiding your money in an expensive camera case rather than a ratty old hanger is just asking for trouble.

To protect the value of your money, keep part of your funds in one of the hard currencies — USD, Euros, Pound Sterling, Deutschemark or Yen. You often get better exchange rates at your holiday destination than if you changed money in your home country, and the hard currencies usually get the best deals. Also, some currencies are have so little value that the exchange bureaus will refuse to convert them back to hard currency after your holiday.

The currency of choice for most travellers is the USD (pictured above), as it is the only currency to receive a universal welcome. In some countries (Cambodia, parts of Africa and Latin America), the greenback is used in place of the less valued local currency, making it particularly useful. The Euro, which is more commonly held in traveller’s cheques than actual cash, is also popular, though not to the same extent as the USD. Two exceptions are the Balkans and the Francophile African nations, where the EURO is just as welcome.

How to carry the money around

Whichever currency you choose to carry, if you are carrying large denomination notes, it is a very good idea to write down the serial numbers of the notes. This will act as a safeguard against one of the more common scams found at money exchange bureaus, when the deal is voided by the changer and the unsuspecting tourist is returned fake or lower notes instead of the original bills. For more things to watch out for at the foreign exchange bureaus, click here.

Once you’ve decided how you want to keep the major portion of your holiday funds, you have to decide how you want to carry your daily cash. Many people just use the same old money clip, wallet or handbag they normally use when they’re at home. Others invest in money belts, pouches for various parts of the body, and other such devices as they feel the usual handbag or wallet doesn’t provide enough security. Whichever option you go for, here are a few things to consider.

• If you must carry a handbag, be wary handbags are depressingly easy to snatch, or pilfer. If you intend to carry one, try and get the kind with very short straps, which tuck neatly under the armpit. Do not dangle it from your shoulder, as this is perfect for a snatch thief. Don’t keep all your cash, credit cards, check books and important documents in your handbag — in one fell swoop, a thief could take it all away.

• Carry a dummy wallet If you really want to be cautious, carry a spare wallet with a few dollars tucked inside, to give up in case you’re held up.

• Fanny pouches these are extremely popular with travellers for their convenience. Unfortunately, they are also very convenient to the pickpocket, particularly if work on the back and not the front.

• Money belts and other ‘concealed’ pouches this is one of the safest ways to carry your money and documents, as they are kept under the clothes, next to the skin. Pickpockets have a tough time getting to the goods.

• Neck pouches are popular as they are slightly easier to handle, but they are also easier to steal. Thieves are experts at cutting the neck straps and removing the pouch without the victim noticing. One way to prevent this is to run a strong thin wire down the length of the strap to prevent it from being cut.

• Beware the back pocket The favourite place for carrying a wallet — the back trouser pocket — is also the easiest to steal from. You can Velcro or button it closed, but many pickpockets carry a razor to slash open your pocket to get to the wallet. Carry your wallet on the front of your person, and if at all possible, in an inner pocket: inside jacket, a pocket inside a skirt, etc.

• Keep coins separately Keep a coin purse in a different pocket so you’re not continually reaching for your wallet and advertising its location.

• Keep both hands free Pickpockets adore it if both your hands are filled, as its far less likely you’ll be able to react quickly if you do feel your wallet being snatched. In crowded situations, where most thefts occur, try to keep both hands free.

• Keep a hand on it When you’re in a crowd and your wallet is in your front pocket, keep a hand casually over the pocket, so you can always make sure the wallet’s safely there.

• Use it PROPERLY A neck pouch or money belt is meant to keep your precious cash and documents safely hidden next to your skin, but an amazing number of people wear them OUTSIDE their clothes! Granted, it might be more comfortable, but not only does it defeat the purpose, it just shouts ‘TOURIST” and is an open invitation to any idle thief.

These are just some of the things you should consider and look out for while you’re on holiday. You don’t want to lose your entire holiday fund if you happen to be mugged, but you may not want to have to keep going to the bank everyday to get more money either. Finding a comfortable balance between these two extremes is really up to you.

Article Information
This article was written by AH Anuar and was first published 05 September 2004. This article is free for personal and commercial reproduction, with the following terms and conditions.