Carrying too much cash...Why risk it?
 

Do you carry more than you can afford to lose
in a purse or pocket?

I carry only one or 2 days worth of cash and my ATM card in a money belt under my clothing. I have a duplicate ATM card back at the room. No cash.

Why have a duplicate ATM card?

because they literally break in two; get swallowed; demagnetize,

so, why not?

I rarely carry more than a few euros when walking on the street, but one time I did have to pay my tuition at the University and my bank could not do the transaction. Luckily, it was adjacent to a bank that could, but I had to walk across the street in a busy part of Barcelona with a few thousand euros in my pocket. Other than that, you said it best yourself. Why risk it?

I do the same as JandaO. :)

Why not have two ATM cards attached to different accounts? Almost everyone I know does.

And I do not.

They break in 2 only when you force them to and even if you do, these bankcards are extrememly tough.

My point is if, for example, your card gets swallowed, or God forbid, get's lost, the first thing I would assume you do is report it to your bank. Once you do that, the bank blocks the card from being used. Now, if as you claim that you have a duplicate and it contains the same number, then there's no way that you'll be able to use it.

Love- the duplicate card is key! If it gets stolen, then it is worthless, but if it gets scratched, demagnetized, eaten, destroyed. . . having that second one is often the difference between having money for a few days or not. I have multiple accounts like you say, but my brother doesn't as it is far too difficult for him to keep track of multiple accounts.

I do have a duplicate in case the card is damaged.
Forgot to add that I also have a different card in the room in case the other one is stolen.

I also carry two ATM cards (actually 3 sometimes) when I travel.

1 to my primary bank checking acct
1 to my small checking acct at the credit union.
and - when I remember to take it :-S a duplicate to my primary acct.

Since it’s hard to establish tone on here, let me say that I don't mean this sarcastically: Why do you care if people are carrying more cash than they can afford to lose? And why did you start a post to tell everyone how you carry your money?

I, too, have 2 ATM/debit cards with me (to different accounts) and 2 credit cards. 1 of each go with me and 1 of each stay back in the room.

Nothing ruins a vacation faster than your cc or access to $$$ not working in a foreign country.

grantop,
I was curious because I was reading a post where someone was nearly mugged and she said she was carrying too much cash and that she was going to stop doing that.
Just thought it might make someone reconsider so they would have a bad experience.
Wishing you happy travels.

correction
So they WOULDNT have a bad experience.

re: breaking in two. A male friend sat on his kept in his wallet in his back pocket ... craaack.

I stepped on mine...

both accidents.

In Germany, my FIL got his ATM card stuck in a statement printer (he didn't know the difference). Luckily, the bank opened a couple of hours later and they retrieved it and gave it back to him. Then he proceeded to do the same thing again at the next bank :)

<<someone was nearly mugged and she said she was carrying too much cash and that she was going to stop doing that>>

JandaO- That premise doesn't make sense to me... A mugger would not know how much cash a person is carrying, until after they mug them.

So while carrying cash may or may not be a good idea, I don't see that it ups the chances or something happening.

I carry quite a bit of cash myself, always have, never a problem. I can't imagine traveling with "no cash" as you say you do.

Grantop - not as bad as those threads that want to know "where you are now" or start off asking about fav airports and degenerate intyo people putting down every airport that they have been to! :-)

bill_boy writes: "They break in 2 only when you force them to and even if you do, these bankcards are extrememly tough."
Not! I recently had to get a new ATM Card from Wachovia Bank; the old one split lengthwise in NORMAL use. I am not the type person who abuses that sort of thing: don't be surprised if that happens to you. If it happens away from your home country, it could be a disaster. That's one reason I carry two ATM Cards from different financial institutions. The other I have posted here in the past: Core States Bank was being taken over by First Union: my Core States Bank ATM Card wouldn't work in Ireland even though the people at Core States had assured me that it would.

Back then, I had to resort to a VISA Credit Card for (expensive) short term loans.

And, it doesn't have to break to render it useless. I sat on my debit card (back pocket of jeans) and creased it. I've "folded" it back and try to straighten it as I run it through the reader - but often it results in a card reader error. Just an irritation at home. Would be a bigger problem on vacation.

Cards can also get de-magnetized by other nearby objects. Seems some of us just like the security of back-up cards/ options.

Hope it never happens to bill or others who may travel with just one card.

Anyone use traveller's cheques in Euro currency? That is what I was planning. Just wondered if anyone has had any problems with them - they say they are as good as cash.

Traveler's checks are becoming harder and harder, more expensive to cash. Mostly only banks will take them - and not all banks. Sometimes they charge a premium to cash them as well. After last year we stopped using them. There have been a couple of threads on this in the last couple of weeks that you might want to search.

suze,
of course they dont know before they rob you...
would you rather have them take a little or alot? Your choice!!!!

We tend to make our arragements in advance. We buy Euros on E-Bay and take dollars to exchange. As long as I'm within 3-5 cents of the exchange rate I'm happy. We've also taken American Express travelers checks. They can be exchanged at the branch in Athens for no fee. In all the years I've been visiting Greece there have been no problems with theft,crime, pickpockets, etc.
Just be aware and careful of your money and you'll be fine.

Since I have never been robbed, and don't expect to be, it is a non-issue. I would rather have cash to pay for what I need and take my chances than risk depending solely on an ATM card (or even 2).

To answer your question "Why risk it?"... well because I want to be able to take care of my expenses with the least amount of hassle. For me that involves carrying a few hundred in cash, both US and local currencies. Split up, not all in one place.

<<Anyone use traveller's cheques in Euro currency? ...they say they are as good as cash.>>

Travel_Bug-- Any merchant or business will accept cash, but that is not true of Travelers Checks (whether USD or Euro). You need to plan to go to a bank, an exchange bureau, or possibly your hotel front desk to exchange them for cash.

suze,
We all do what works for us :)

My friend Julie leaves her purse swung over her shoulder with hundreds in cash in it!! She has never had a problem thank God.

Me.... I wouldn't risk it. I travel on a budget and can't afford to have any of it stolen. So I take the steps that will lessen my chances.

Starrvile wrote:
<<<Hope it never happens to bill or others who may travel with just one card.>>>

Thank you.

But, in addition to an Amex and MasterCard credit cards, I always travel with 2 ATM cards from 2 different large financial institutions and about a couple of hundred Euros in cash. Although I have never had any problem with my Citibank ATM card, I know that there's a branch somewhere in a major city in Europe, plus all it takes is a collect phone call to the bank's number, that is always in my cell phone that I travel with, in order to iron out any issues with withdrawing money. I never bring any duplicate cards because no matter how much I use or abuse my ATM cards, it doesn't break and the only reason it has to be replaced by the FI is when it expires or if I lose it.

JandaO, ok - I was just wondering! Happy travels to you too! :)

While it's never happened to me, I've heard that ATM cards can get swallowed overseas. Some practical advice:

Make sure that you call your bank to let them know you will be travelling overseas (same for Visa, MC, etc.).

If possible, use ATM's next to banks and during banking hours, so you can seek assistance if you have problems.

grantop,
:)

Unlike credit cards, ATM or checkcards (debit cards) are individually tied to an account. I have a card, and my husband has a card, and both are tied to the same checking account (the number on the card is different). Therefore, if one of us losses a card, or it is swallowed by the ATM machine, and we should have to cancel that card, we still have a working card to the same account. We don't have to have two accounts...we just have to have two cards to the same account to have the protection. And it can and does happen often that cards are not returned by the ATM.

I always carry a debit card and an ATM only card (same account, different card numbers, so if it's necessary to cancel one, the other is still valid). One stays in the room safe.

Note that your card can easily become compromised if carried in your pocket too close to a bunch of pocket change!

Angeliki, you buy Euros on eBay?? How does that work? I mean, I understand eBay, have had good and bad experiences there but I am curious as to how you bought Euros there. Weren't you worried that you would get ripped off?

I was curious, so I just looked on ebay for Euros

Current bidding price (not accepted high bid yet) for 200 Euros is $274, + $5.5 shipping = total price ~$280, or an effective exchange rate of 1.40

200 Euro from ATM last week cost me $255, or 1.275.

That's about a 9% difference, far above the 3-5c angeliki says she gets on ebay.

Often the trick to ebay is watching items closely and jumping at the last min for a good deal. For now, I'll continue to use the ATM, take that 9% and keep it in my pocket.

Don't know the point Bill was trying to make by his critique on having another card in the room. Let it go if he doesn't like it.

But actually he did a service in all the discussion over it which did give out a bit of info despite all the type face it actually created.

Too bad for you, Bigal, when you can't follow a simple query and the ensuing discussion here.

Now we simply don't follow what you just brought up. Oh well...

I have considered carrying a second wallet with a few dollar bills and dummy credit cards, in case someone wants my wallet, when walking on (relatively) unsafe streets. Any thoughts?

Well, when I was in Russia recently my ATM card didn't work there - contrary to what my bank had told me - so I was happy that I had brought a lot of cash. Just wear a money belt under your clothes - and then it's not a problem!