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There is a unique anxiety about being in a new place, halfway across the world. For some people, it’s the worry about not being understood, while for others, it’s the general unknown about the safety of the place.
One thing that almost everyone can agree on is that money can be a big part of the anxiety. The moment you step off the plane, you’re looking for an ATM (or worse, have gone to a currency exchange in your own country and have brought a dangerously large wad of cash).
Get the Boring Basics Out of the Way First
Before you leave, you can notify your bank about your travel dates to prevent any chance of fraud blocks – though, this isn’t as likely in 2026. Always take two different cards (one Visa, one Mastercard) and keep them in separate places (phone case and wallet).
Finally, memorize your PIN, and set up Google/Apple Pay on your phone if possible. And, to go the extra step to put all worries at rest: always have $100 USD cash for emergencies, regardless of the country.
If you’re heading to a dangerous location where muggings are a serious risk, like many areas in South America, it’s worth carrying a dummy wallet. Here, you can place a dummy card with a small amount of cash. But even if the country you’re visiting is safe, it’s important to have cash in an area that you won’t lose, or even use, very often.
Always Choose to Pay in the Local Currency
The biggest “polite trap” set for tourists is when you insert your card at a restaurant in Paris or a shop in Tokyo, the terminal might ask: “Pay in USD or EUR?”. Always choose the local currency because the Dynamic Currency Conversion is going to extort you with a dire exchange rate.
They make money in the “spread”, which is the difference between the rate you’re getting and the interbanking, mid-market rate.
Use Technology to Change Your Security Posture
A lot of advice is around getting fee-free cards as they help save money on ATM withdrawals, and they also provide good security. Where possible, look for ATMs provided by high street banks. These will likely have lower local withdrawal fees compared to the likes of Euronet – and in some cases, they are an outright scam.
Sometimes you cannot avoid an ATM fee. Thailand is one such example, where it’s around $5 to withdraw from any ATM. Try to resist getting a huge wad out just to make the fee worth it, because this is a security risk. Opt for somewhere in the middle, and try to use a card when you can, meaning your cash buffer will last longer.
Smart travelers will use digital remittance services not just as a backup for themselves, but to help maintain their finances remotely. These apps have become so efficient that you can send money to the Philippines or support family members across the globe instantly from your hotel room. It means you’re still connected wherever you are with minimal friction and fees.
Multi-Currency Wallets
Multi-currency wallets are truly useful for managing multiple current accounts at once. If you’re hopping from one country to the next, you can exchange currency in seconds so that you then pay in local currency, even with card payments.
This has the benefit of saving on poor real-time exchanges (even if the multi-currency account provider is handling the exchange upon purchase, there may be a weekend fee).
The second benefit here is that you’re in control of when you exchange. If exchange rates become favourable, like how the recent UK budget strengthened the pound overnight, it could be a good time to purchase your vacation currency. This also hedges against the risk of their currency rallying between now and when you go.
Plus, if you’re planning on revisiting this country – perhaps it’s a frequent business trip destination – you can just keep leftover cash in the account. This cuts down on the amount of money you’re exchanging, which in turn minimizes money lost on fees and the margin spread.
Rethink Your Relationship With Loose Change
In the US, coins are nuisance currency. In Europe, Canada and Japan, coins hold more value. In some instances, they’re your only option to catch the metro.
It’s best to treat foreign coins with the same respect you treat paper bills – just in case. Use them first. You’re also likely to eat out a lot if you’re on holiday, and so these become a good way to leave tips.
For emergencies, it’s best to always have a mobile payment method and some cash. You might be on a night out, and in order to get home safely, the taxi may only accept cash. With the right preparation, you can eliminate anxieties surrounding money, making sure you’re prepared for anything.