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How and how much money to carry when travelling????

 
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Sigmuu



Joined: 04 May 2003
Posts: 25

PostPosted: Tue Mar 30, 2004 5:14 am    Post subject: How and how much money to carry when travelling???? Reply with quote

Greetings:
My wife and I will be travelling from Saudi Arabia to Canada in June and returning to Saudi Arabia in August. Concerning these trips, here are my money-related questions:

a) Most importantly, a friend has told us buy traveler's checks and cash them in Canada as we need them? Good idea or can anyone suggest a better way? Other people have told to trust our Saudi Bank card and our Saudi issued credit card and withdraw money with them as we need it. However, the idea of being in far off Canada and replying on cards, especially the credit card which might have God knows how many hidden strings attach to it, issued in the Kingdom doesn't appeal to me at all. However, advice on this is appreciated.

b) As a rule of thumb, how much local currency should we keep for when we return to Saudi Arabia? What about keeping some Canadian currency for when we return to Canada next summer 2005?

c) When travelling, how much is a good amount to have on you at all times. I mean, by the way, money in my wallet, not stashed safely on my body somewhere. A friend told us around 400 US dollars but how does the Board feel about this?

That's it for now. If you feel that I have missed an important question concerning money and traveling to Canada or other places (we will be stopping over in London), one that perhaps you learned the hard way when traveling, that I never asked because it never occurred to me, please address it in your post if you wish, or private post me, or send your suggestions to:

sigmuu@hotmail.com
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scot47



Joined: 10 Jan 2003
Posts: 12222
Location: Ultima Thule

PostPosted: Tue Mar 30, 2004 7:22 am    Post subject: cash Reply with quote

I often take my money in CASH. US Dollars or Euros.

Plastic cards are good.
BUT do not rely only on them.

I am wary of traveller's cheques.

Saudi Hollandi bank here in KSA had a new thing a while back. Even if you have no account with them they will sell you a Visa Card, credited with the amount you pay them (plus service charge.)

It is also not a bad idea to have some money in the bank in your home country or other country wher you can access it.
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Bindair Dundat



Joined: 04 Feb 2003
Posts: 1123

PostPosted: Tue Mar 30, 2004 12:01 pm    Post subject: Re: How and how much money to carry when travelling???? Reply with quote

Sigmuu wrote:
Most importantly, a friend has told us buy traveler's checks and cash them in Canada as we need them?


A pain in the butt. Traveler's cheques are not as easy to use as they once were.

Sigmuu wrote:
Other people have told to trust our Saudi Bank card and our Saudi issued credit card and withdraw money with them as we need it.


Expensive, and a pain in the butt. Bring your credit cards for hotel bills and such, but not for getting cash.

Sigmuu wrote:
As a rule of thumb, how much local currency should we keep for when we return to Saudi Arabia?


About twice as much as you think you'll need. Wink

Sigmuu wrote:
What about keeping some Canadian currency for when we return to Canada next summer 2005?


I say don't keep it if you can get it easily; OTOH, why re-exchange it if you know you're going to need it again?. But it really doesn't matter. It's so easy to exchange money. The only time you need to be careful is if you're dealing with something like Turkish money, which loses value by the minute.

Sigmuu wrote:
When travelling, how much is a good amount to have on you at all times. I mean, by the way, money in my wallet, not stashed safely on my body somewhere.


I don't carry a wallet. When I travel, I usually keep a few thousand dollars hidden on my body and maybe a couple of hundred in a side pocket. I also carry credit cards. However, I have rarely spent more than $25 while in transit.

Sigmuu wrote:
If you feel that I have missed an important question concerning money...


Pay attention to import/export regulations concerning cash and cash equivalents.
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Stephen Jones



Joined: 21 Feb 2003
Posts: 4124

PostPosted: Tue Mar 30, 2004 7:33 pm    Post subject: Reply with quote

The rule is have as many different things to fall back on as possible. So take your Saudi cash card, try and get a visa card and take that, take a load of trevellers checks and take dollars.
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