Emergency cash while traveling?

[Loquat]

As others have mentioned you can use products like SoFi. You can also use your mobile wallet. I keep my BoA debit card in my iPhone and Apple Watch for such cases of needing to use an ATM.

[Anonymous]

More thanks.

The physical debit cards I carry when traveling are:

- Capital One 360 (on me until I get local currency then in the hotel)

- BOA (packed; has lots of fees so this isn't a first choice)

- Ally (packed separately; same issue with fees)

I also have all 3 on my phone, backup phone, and watch. I've noticed that many ATMs now accept contactless cards, which is nice.

I'll consider Schwab and/or SoFi accounts. Right now I'm leaning toward the refunded ATM fees not justifying maintaining extra accounts (for me at this moment). I like the options though.

[Revelate]

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@M_Smart007 wrote:

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@Anonymous wrote:

At least one of my cards offers emergency assistance while traveling. My understanding is that this would be along the lines of access to a few thousand dollars in local currency if you lost your wallet. Is this correct?

Has anyone ever used this? Does it just code as a cash advance? I'm guessing it wouldn't count against you like a normal cash advance might. Any experience?

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@Anonymous, Just a Thought, When I travel far (which is not to often)

I carry an extra Visa Card with no FTF and a Charles Schwab ATM card both seperate from my wallet.

Even a couple of Folded Checks.

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This.

When I was travelling overseas I always took the Schwab debit card and just left it in the safe along with the passport and the backup credit card (Capital 1 QS).  Had two thousand in the account or so and if the crap had hit the fan I would've been able to get home and that's all I really would care about in such a situation.

[Anonymous]

Agreed. More backups are better.

When I read it was possible to have 2 US passports, I got excited about getting a spare as a backup. Unfortunately, it doesn't quite work that way so I have to settle for carrying the passport card and keeping the passport at the hotel.

[tacpoly]

About 80% of the time I land in a foreign country with 0 local currency. I use an ATM at the airport, although I do this less and less because of unfavorable exchange rates. I just get myself to the city and use a regular ATM. If I need cash to get to the city center, I don't take out much more than what I need. 

As for emergency cash, all my travel credit cards have this benefit. Most hotels I've stayed at will also advance cash to their guests in an emergency. Additionally, some banks have branches globally (JP Morgan, Citibank, HSBC...) that will give access to your funds.  

[Anonymous]

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@tacpoly wrote:

About 80% of the time I land in a foreign country with 0 local currency. I use an ATM at the airport, although I do this less and less because of unfavorable exchange rates. I just get myself to the city and use a regular ATM. If I need cash to get to the city center, I don't take out much more than what I need. 

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Assuming you don't allow the ATM to do the conversion, isn't the exchange rate determined by your bank? I've always used airport ATMs too and the rate has always been near market.

[Anonymous]

Some NFCU cards have No FTF and No Cash Advance Fee so you can use your credit card at a ATM and take out cash. This is my emergencey default.

[Anonymous]

To be honest I just don't worry about it.  I carry a debit card with me everywhere.  If I have an emergency that requires me to get money out of an ATM I just eat whatever the fee is and be done with it.  It's such a rare occurrence that worrying about it and then remembering to take exactly the right debit card with me and making sure it has plenty of available funds isn't worth the $15 in savings.

[Anonymous]

I just carry cold hard cash in USD and the local currency. I've got several hiding spots in all my various baggage/persons.

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@Anonymous wrote:

Agreed. More backups are better.

When I read it was possible to have 2 US passports, I got excited about getting a spare as a backup. Unfortunately, it doesn't quite work that way so I have to settle for carrying the passport card and keeping the passport at the hotel.

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For this I just take a photo 0n my mobile, as well as a photocopied version i keep in safe place as backup.

[tacpoly]

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@Anonymous wrote:

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@tacpoly wrote:

About 80% of the time I land in a foreign country with 0 local currency. I use an ATM at the airport, although I do this less and less because of unfavorable exchange rates. I just get myself to the city and use a regular ATM. If I need cash to get to the city center, I don't take out much more than what I need. 

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Assuming you don't allow the ATM to do the conversion, isn't the exchange rate determined by your bank? I've always used airport ATMs too and the rate has always been near market.

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In some airports, LHR is one, the ATMs have been taken over by currency exchange (even the unbranded ones) and won't give you a choice of conversion. My husband pointed it out a couple of years ago; when I calculated the exchange rate, it was atrocious!

London is easy.  I either have a car waiting, use my phone to get on the tube, or charge a heathrow express ticket to a credit card. Heck, I've gone 2 weeks in London without using cash. 

In comparison, I definitely needed kuna in Croatia (I paid for everything in cash), but the ATMs, at least in Zagreb -- even in bus and train terminals -- added absolutely no fees and the exchange rate was the bank rate. Split & Dubrovnik were another matter. 

In Cambodia, when I traveled there well over a decade ago, crisp US dollars seemed the preferred currency. But it had to be new/crisp bills. During a bus stop I had to plead with the street vendor to take a worn dollar when I didn't have enough riel. No credit card or bank would have helped there.