What's the Safest Way to Secure Your Money While Traveling Abroad?

Secure your assets and peace of mind by implementing these comprehensive strategies for managing your money while traveling internationally. Minimize the risk of being robbed or running into financial troubles by adhering to our foolproof suggestions.

Do Not Carry All of Your Money and Credit Cards in Your Wallet

Split your cash and cards up among multiple locations and containers. Use a credit card, or keep several cards in discreet front pockets to deter pickpockets.

Essential Strategies for Secure Traveling

Use Credit Cards for Increased Security

Utilize credit cards where possible, especially those without foreign transaction fees. This reduces the risk of unauthorized use and is more secure as most require PIN and additional authentication.

Withdraw Cash as Needed

To maintain safety, regularly withdraw small amounts of cash from ATMs, rather than carrying large amounts of cash or foreign currency.

Track Your Expenses Accurately

Keep track of your spending using a reliable app, such as FinArt: Family Expense Tracker. This helps you stay within budget and avoid uncertainties.

Split Your Money into Multiple Locations

For an additional layer of security, split your cash and cards into at least two, and ideally, four separate locations.

Keep some cash and cards on you. Place some in your purse. Have some with your spouse or travel partner. Leave some in your briefcase or backpack. Keep a portion in your hotel room.

Write down the location and amounts for reference. This strategy significantly reduces the risk of a single point of failure.

Keep Your Wallet in a Discreet Front Pocket

Place your wallets in your front pockets or use a money clip there, as they are less likely to be stolen.

Consider a Secret Pocket in Your Jeans

Stitch a discreet pocket into your jeans or carrying items like your passport and important documents here for additional security.

Note: Try minimizing the cash you carry, using credit cards and transactions for larger sums. This is particularly true when traveling to unfamiliar cities. For added security, keep your passport in a hidden, secret pocket under your clothes.

Personal Insights from Numerous International Trips

With over 40 years of travel experience spanning 115 countries, I can confidently echo Dani’s advice, especially regarding the fake wallet method. Over the years, I have been pickpocketed three times and held up at knife-point once. In the majority of these incidents, my fake wallet, containing play money and old hotel keys, was taken rather than my real money.

One notable exception was when I became complacent in the "safe" destination of Costa Rica, and did not bring a fake wallet. This led to a direct confrontation where my real wallet was taken instead.

The Three Best Tips for Securing Your Money Abroad

Bring Multiple Credit/Debit Cards

To ensure you have a fallback option, bring several credit and debit cards. I carried two debit cards and three credit cards during my recent trip, which I hid in different parts of my backpack and a hidden secret belt.

Split Your Cash

Fractionalize your cash into multiple locations, reducing the risk of theft. Withdraw smaller amounts regularly to reduce fees, but still mitigate the risk of loss.

Keep a Fake Wallet

Prepare a minimalist fake wallet containing a small amount of cash and a blank card for added security. In emergencies, this can be surrendered by a mugger as the most valuable item, ensuring you maintain your real money.

Following these strategies, I felt secure and cared for during my 7-month journey to countries like Egypt, Indonesia, Nepal, Australia, New Zealand, and various European nations. These practices provide a reliable and effective framework for safeguarding your finances while exploring the world.