Money when abroad

[msmob]

Krim is a cash man, I have always advised folks travelling abroad too take small amounts out as needed.

After my July experience, losing access to a bank card and needing cash above my daily limit I will go with 4 cards.

 I draw a small amount of local currency when I land, if I haven't got a bank account at the destination.

What do you recommend when in former FSU nations?

[msmob]

I've just received two Premium Revolut cards - One gets a GBP and EURO bank account and spend in 150 currencies at interbank rates 

One can create virtual ( one off transaction only, too) cards for safe internet purchases and a replacement card within 48 hours in most countries .


Will see how it goes

One has to be resident in : European Economic Area (EEA), Australia, Canada, Singapore, Switzerland, and the United States.

[Blighty]

I've just received two Premium Revolut cards - One gets a GBP and EURO bank account and spend in 150 currencies at interbank rates 

Looked at this card and it states "If you exchange currencies on weekdays (Mon-Fri UTC) you will receive the interbank exchange rate without any markup on all currencies except for Thai Baht and Ukrainian Hryvnia where there's a 1% markup".

This 1% markup seems worse than the exchange rate on our existing FairFX currency card. This card also includes a small transaction fee. 

Does the Resolut card also have a transaction fee?

[msmob]

No Transaction fees up to c.$600 ( £400) with the regular card and c.$900 (£600) - with the prem card.. when withdrawing cash

[krimster2]

I really don’t like using plastic in Russia or Ukraine, because of how much identity theft I experienced there as a result over many years....

if the card involved was a UK or EU bank, then the paperwork takes forever, and it’s a month before I get a replacement card...

a long time ago in Kyiv I found a credit card skimmer on an ATM machine, no one but someone with “my condition” would’ve noticed the thin black plastic strip across the top with the hidden camera...

many times in Russia or Ukraine ATM machines will all go down for no apparent reason, and they are sometimes shutdown during elections because they have “bank runs”...

on top of that you get the worst FOREX rate imaginable plus (since you’re dealing with a bank, “points”)...

In addition, I don’t like being in a spot in Russia or Ukraine where I am openly, publicly handling a large amount of cash, just common sense in the FSU folks....

it’s why I am a cash and carry guy...
and I usually do my exchange at a market with a purchaser who has to go to Europe or Turkey and buy his products in either dollars or Euros, they give a better exchange rate than the banks AND then he becomes part of MY network...
it can be VERY handy having a purchasing agent in either Turkey or Europe...
nudge....nudge...wink...wink...
say NO MORE!!!!

In Russia, I am a customer of Aval Bank, and I like them!
I wire funds from my UK offshore Euro or Sterling accounts to my Russian Aval account and withdraw rubles in a private booth...
I also have an Aval card for use in Russia, but like I said, only use it sparingly due to the widespread fraud issue in Russia...

back in the old days, late 90‘s, once you left Moscow you almost couldn’t even use credit cards
in the more remote places....
in late 98 it was so bad in southern Russia around Rostov, that stores didn’t even have change in the cash registers!!!

a dewd with dollars back then in those places....
what memories...

[msmob]

I really don’t like using plastic in Russia or Ukraine, because of how much identity theft I experienced there as a result over many years....

 That's why I like this banks disposable - one use virtual card

if the card involved was a UK or EU bank, then the paperwork takes forever, and it’s a month before I get a replacement card...

The card came in 72 hours .. replacement would be in 48 hours in over 100 countries

a long time ago in Kyiv I found a credit card skimmer on an ATM machine, no one but someone with “my condition” would’ve noticed the thin black plastic strip across the top with the hidden camera...

Most ATMs there have the extra ( normally green ) socket to stop skimming..I have NEVER had my cards skimmed in all my travels there ..The Chinese have had my details on the dark web 2 times this year .. ((      Hence I will now use a one-off virtual card )

many times in Russia or Ukraine ATM machines will all go down for no apparent reason, and they are sometimes shutdown during elections because they have “bank runs”...

Only had an issue in Georgia ))

on top of that you get the worst FOREX rate imaginable plus (since you’re dealing with a bank, “points”)...

Many 'wealth management' service guarantee the interbank rate..

In addition, I don’t like being in a spot in Russia or Ukraine where I am openly, publicly handling a large amount of cash, just common sense in the FSU folks....

I'm 'broke' - I only take it out little and often

In Russia, I am a customer of Aval Bank, and I like them!
I wire funds from my UK offshore Euro or Sterling accounts to my Russian Aval account and withdraw rubles in a private booth...
I also have an Aval card for use in Russia, but like I said, only use it sparingly due to the widespread fraud issue in Russia...

back in the old days, late 90‘s, once you left Moscow you almost couldn’t even use credit cards
in the more remote places....
in late 98 it was so bad in southern Russia around Rostov, that stores didn’t even have change in the cash registers!!!

a dewd with dollars back then in those places....
what memories...

Aval? Is the the Austrian bank , Raiffeisen

They are IDIOTS .... though I / Sveta was money 'laundering' while out of the country ... We answered their Q's via email / fax THREE times and they froze the account - until SC came back ... no apology , no compo - no more biz for them.. Austria .. HQ were as much as a chocolate fireguard  (

[krimster2]

I have never had problems with Aval... or Raiffeisen when I dealt with them in Kyiv in the "old days"...
but I tend to not use cards very much....

I have a single use card from AMEX that I used to use, as well as a "reloadable" one, but it's just a a hassle to keep track of for travel purposes...
I tend to not want such a clutter of detail when I travel...
"keep it simple" is my motto....

a stack of 5000 rubles notes can do wonders in Russia....
and I have a whole collection of hidden money belts, and I'm a concealment expert

the last card I had replaced from HSBC took several weeks from beginning of the process to receiving the card from DHL delivery!!!
but this was from the IOM (Isle of Man) main office and not London...
and even this after a lot of "back and forth"....

just not a fan of this myself and prefer to handle actual money...
and NO WAY will a bank give you better rates than what you get in person at a market...

[rwd123]

Take a few thousand USD and a few hundred worth of rubles (if not expensive to buy outside of Russia). Crisp, unmarked notes with a mix of denominations. Stay under the declarable limit, you don't want to be on anyone's radar. Cash is king.

In the past I've had similar experiences in there being no change. Instead I was given matches or chewing gum, etc.

[jone]

When traveling in Eastern Europe, I always take sufficient cash to enable me to complete the entire trip with enough for unexpected events or expenses.   Amazing how those Ben Franklins are received. 

As to how I store them, I never put them in logical locations, especially if I am in a Hotel Room with a Safe.  Typically I will not carry a money belt, either.   

Do I carry plastic?   One card only.   (with an asterisk)  I tried using a temp card one trip only to find out I could not use it overseas.  So, instead, I contact my ATM card company prior to the trip and let them know I will be traveling overseas but I restrict my daily limit unless I give them further instructions.  (I can always increase that limit, but if the card is copied I can limit my exposure with a lower limit.)

The first time I stayed in Mykolaiv, my card was copied at the Hotel I was staying at.   I was forced to give my card at the front desk for incidentals.    Luckily, the idiots tried to make too large a withdrawal and I was contacted and restricted the card.

Notice that asterisk above?   Well, I do have a second card.   But it is secreted in my possessions and would be difficult to find unless I told you where it was.

[krimster2]

even though the Isle of Man banks aren’t the greatest consumer banks...
I do recommend them for other reasons....
such as the fact that IOM is a corporate tax haven!!  YUP!!!
and the money your company earns OUTSIDE the IOM
like on a Russian bitcoin farm for instance...
will NOT be taxed by the IOM...

they even have their own currency “The Manx Pound” which looks much nicer than the usual British currency, though the bank of Scotland currency does sometimes look quite nice as well...

the last time I was there, I took my two daughters with me shopping...
we rented a George II period mansion right on the freaking promenade through airbnb..
we could walk to the beach in under two minutes or walk the promenade and find lunch...
what a great time they had their with the English and Irish boys chasing after them and me shooing them away...
"be gone with you lads"!!!

both of my daughters had custom Gucci dresses expedited for them from Claire Christian Couture in Douglas, I highly recommend...

[msmob]

Only prob with IoM Pounds ( as with the Pounds in N.Ireland)....foreign banks only accept 'bank of england' notes (((

[Trenchcoat]

Krim is a cash man, I have always advised folks travelling abroad too take small amounts out as needed.

After my July experience, losing access to a bank card and needing cash above my daily limit I will go with 4 cards.

 I draw a small amount of local currency when I land, if I haven't got a bank account at the destination.

What do you recommend when in former FSU nations?

Goes to show you can teach old dogs new tricks

Ever since my Lviv trip last year I am now very careful with my precautions on how I travel with my stuff in the FSU.

I had always take at least two cards however since then I have taken two wallets. One with my passport in it and one with a small amount of foreign currency in it. Once at destination I swap my passport wallet with my foreign currency wallet that was in my bag. I have a Credit Card in each. The foreign currency wallet I use as my day wallet for walking around with and has the main credit card I will use to draw more money out beyond the small amount in my wallet. My passport wallet goes into the safe on arrival at my destination, I always get a place with a safe now.

Thereby if I lose one I always have a backup. If I was unfortunate to lose both I guess I might be able to try Western Union or just have to go to police station onwards to British Embassy, but that really would be a bad disaster day in the FSU to lose both.

I think that early on by using just one wallet I really did take a risk as if I had lost that I really wouldnt be in a good place and trip would likely been totally ruined.

[krimster2]

"Only prob with IoM Pounds ( as with the Pounds in N.Ireland)....foreign banks only accept 'bank of england' notes ((("

that's OK, I NEVER take sterling to Moscva, only euros now....
the dealer I use for forex in Moscva goes to Germany once a month to buy inventory for his store...
sure do miss the 500 euro notes...
but IOM currency/coins are collectable, I always stop in the big bank in Douglas and add to my hoard for the grandchildren to have one day
dadooshka's weird coin/currency collection...

[BillyB]

I really don’t like using plastic in Russia or Ukraine, because of how much identity theft I experienced there as a result over many years....

You got your identity stolen because you're a good looking guy. STOP IT! Try to be ugly. Nobody wants the identity of an ugly guy.

I also tried to avoid using plastic. I've bought thousands of dollars of cameras off the internet from a guy out of Romania and he was using stolen credit cards to buy them off Amazon. There are also tools that can be used by swiping it close to a person with credit cards and it'll take the info off the card and the thieves will manufacture their own cards with magnetic strip. That's why the credit card companies put chips on the cards.

I try to pay in cash for everything. I usually take a belt with a compartment sealed by a zipper. I can get 7 bills in there for a total of $700. One example in the link below. Some cash goes in my sock. A little goes in my wallet and in every pocket.

http://www.ebay.com/itm/BELT-LEATHER-MONEY-MENS-TRAVEL-MEN-NEW-HIDDEN-ZIPPER-COMPARTMENT-BILLS-GENUINE/162941255083?hash=item25f00e3dab:m:mgwjkAJKcNir0nblQgq5Jdg

[ML]

I have advised my female friends (and they have done it) to wrap currency in clean handkerchief and then insert into bras.

Seems pretty safe, at least from a 'pick pocket' standpoint.

Can easily carry $10,000 in $100 bills; 50 $100s in each side.

[BillyB]

Can easily carry $10,000 in $100 bills; 50 $100s in each side.

That's a lot of money. Are you sure you want a woman to do that? I thought you don't like anything larger than a B cup.

[ML]

That's a lot of money. Are you sure you want a woman to do that? I thought you don't like anything larger than a B cup.

50 $100s is not a large package at all.
It can easily fit in a B cup bra (along with the original items) and not draw any attention.

And yes, I have known more than one woman who did this.

[krimster2]

you can easily put $10,000 USD in a thin nylon concealable wallet with an elastic band around each leg, I have gone through airport security scanners with a freakin carry on suitcase full of traveler’s checks and they didn’t say anthing and neither did I....
then when I get to Moscow, I sign and cash and deposit the traveler’s checks into my account....

using traveler's checks makes the money a little bit harder for the American government to follow...
and protects you from the cash being confiscated...when you get to a Russian bank, it as good as cash, but you will get writer's  cramp signing each check!!


if you don’t care about leaving a trail for the US gov, then wiring money is the best thing to do by far...


the dollar used to be king in Moscow, back in the old days, but NOW the first currency of choice is the Euro...

if you are renting in Moscow, the price will likely be in Euros...
but I am surprised that Real Estate is being priced in Rubles now and NOT dollars or Euros, but it REALLY makes the prices sound crazy
like “100 million Rubley” is the LOW END of the housing market in Moscva!!!

I have bought something a little more than that, but it has a lot of land, but it’s far south in one of the more remote areas of Moscva...

this is going to be a major construction project, I won’t be living in this until AFTER next year...  but I’m STILL gonna get the boat, I’ll keep it at the Marina - the shashlik at the grill there is pretty good!!!!!

[Gator]

Ever since I worked for the UN and traveled to some remote parts of the world, my motto has been "CASH IS KING!"

Many years ago I traveled with one RW whom I really liked.   When a credit card charge in Turkey was refused, she did not understand.  Her displeasure and mistrust became apparent without words.  A RW tenet is:   

                              STRONG MEN are prepared for anything   





                        HERE I COME TO SAVE THE DAY!   

 


Voilà.  I reach into a secret area, and out pops $1,000.  Now the RW sees me as a RM.   All is good.

               




Later I had to call New York to clarify the situation and then went to ATM to replenish my cash reserve using a different credit card(BofA).   

[ML]

Many years ago I traveled with one RW whom I really liked.   When a credit card charge in Turkey was refused, she did not understand.  Her displeasure and mistrust became apparent without words. 

I was once with UW at Ukrainian travel agency and presented my credit card for payment.
The card system refused the transaction.

The UW said, "Probably you don't have enough money on the card."

I tried to explain to her is was not a debit card; rather a credit card with about a $50,000 limit.
She didn't understand or didn't believe.

But I did have a second credit card which was accepted for the transaction.
All was well.

[JayH]

Ever since I worked for the UN and traveled to some remote parts of the world, my motto has been "CASH IS KING!"

Many years ago I traveled with one RW whom I really liked.   When a credit card charge in Turkey was refused, she did not understand.  Her displeasure and mistrust became apparent without words.  A RW tenet is:   

                              STRONG MEN are prepared for anything   


                        HERE I COME TO SAVE THE DAY!   

 oilà.  I reach into a secret area, and out pops $1,000.  Now the RW sees me as a RM.   All is good.
   
Later I had to call New York to clarify the situation and then went to ATM to replenish my cash reserve using a different credit card(BofA).   

A few months back I arrived  a little late ( I am usually spot on time) to collect my lady. As I  was leaving the hotel an American guy was in animated discussion with reception -- his card refused to be accepted and he had previously been unable to draw cash at ATM as he planned .

Basically -he need to call his US bank for assistance etc and-- no  funds to pay hotel bill and a fair amount of misunderstanding going on- the declined to allow a call etc.

So-- I used my phone ( system)  to call etc -- while he talked I spoke to reception girls and manager ( they knew me very well) . I knew whatever the result of his conversation it was likely to take time to sort out -- and he needed to move on etc

 .After hearing his frustration on phone ( been there /done that !) I was confident he was genuine etc . So I guaranteed the hotel I would pay his bill the next day if he was incapable etc ( he did pay as it evolved) and I helped him with his immediate plans.

The punchline -when I arrived late -- and explained to my lady what had transpired  -I got  an "are you crazy"?   and then "what sort of idiot goes to a foreign country without money( cash)"?   

[krimster2]

"So I guaranteed the hotel I would pay his bill the next day if he was incapable etc "

out of curiosity, why would you guarantee a complete stranger's hotel bill?
please tell me more details, what color pants was he wearing?
I bet you can't answer that question now can ya...

why are you collecting "your lady" at a hotel, if she's your lady, why aren't the two of you together?
see it's always the little details that trip up a poseur...

please take these details into consideration the next time you present us with a "story" of yours
better coverage of details would reduce our "suspension of disbelief" whenever we hear a JayH story, particularly if there's a reference to a woman...

[JayH]

Do I have to bore everyone to death responding to your stupidity> ?
Mister big time --you had the opportunity to bet me on the lie you have invented -- so put your money where your mouth is d..head  !!

Let us look at your comprehension skills --( that is lack of)-

"why are you collecting "your lady" at a hotel"
Where do I say I was collecting her at a hotel?  The answer -I said "I" was leaving  the hotel.

 "if she's your lady, why aren't the two of you together?"
Seriously--how  stupid can you be? No answer required  -it is obvious -very stupid . A fwiw answer - she was doing something  somewhere else and I had arranged to meet later -- a very normal part of normal life.

I  could go on and dissect every word of your stupidity --  as an example re the hotel comment --who is to say it was not on vacation destination and we were staying in a hotel ?  Nothing I said indicated either way what it was about.

Krim -it is pretty obvious you have smoked too much of the green stuff and your brain is addled to the point it aint functioning 
You are a complete moron --  put your money where you mouth is and stop trying to make yourself something you are not.
Stick to trying to bs us all about "nearly" Ivy League" schools and your arse licking abilities-- at least that is close the bs..t you profer.

[krimster2]

hahahaha......
I like pullin your chain jayjay!
you make a buncha funny squeaking sounds like a little toy....Crikey!!!

[msmob]

I was once with UW at Ukrainian travel agency and presented my credit card for payment.
The card system refused the transaction.

The UW said, "Probably you don't have enough money on the card."

I tried to explain to her is was not a debit card; rather a credit card with about a $50,000 limit.
She didn't understand or didn't believe.

But I did have a second credit card which was accepted for the transaction.
All was well.

Had something similar happen in 2007 in Siberia .. Tried to buy V a telephone for c.$200 ..Card declined ...called my manager in Cyprus ...Card is not 'marked' as blocked ... Nope ... STILL didn't work...  It was a debit card with umpteen times more available than I was spending ..   I transferred $500 onto a travel mastercard  - pre-paid  ( top up card) ...  that I was going to leave for V -  and that worked ..

I enjoyed the looks of the sales ladies thinking - "this westerner has no funds" ... didn't get flustered ..and saw V look at the sales lady like - "you doubted my man.?"   and pretended not to notice ...