What's the least amount of money would you take to a foreign country?

Question

I may be traveling to Columbia in about 10 days with only traveler checks and my debit card. I'll be there for 7 days. I'd really appreciate your feedback.

Answer 1

I never use travelers checks, just my debit card (if I'm in a place I know there will be ATMs).  

I usually bring about $100 worth of the country's currency, for food, cab fare, etc. until I can get cash from the ATM.  

Answer 2

it is alright to bring along traveller's check ... but i suggest that you also bring at least $100 cash in your wallet ...

when you arrive Columbia, encash some $400 ... this will be more than enough for your 7day stay there ... and there will be some for shopping too ...

use your debit card only during emergency or when you have already encashed all your checks ...

so if i were you, with a debit card on hand, i will bring $100 cash and $500 dollars worth of traveller's check ...

Answer 3

What I have heard from people traveling South America is that not many places take traveler cheques anymore.

So prepare to have some money or an other way to get money available.

If you have a credit card, bring it, it will help you in an emergency.

And make sure you have enough money in your bank account to use that instead of the cheques if needed.

I mostly travel with enough money for the first day of my trip and my bank card (debit card) and a credit card for back-up.

But most of my travels are within Europe and the rest into western countries mostly.

Answer 4

I don't use travelers checks.  I have found that not every place takes them now.

I think it would depend on what kind of trip you're taking.  If you're doing a "touristy" trip then you'll have access to a lot of amenities like ATM's, places that take credit cards, etc.....

I usually will take about $200 USD in local currency, $50 - $100 in USD as backup (if a tourist location, most places will gladly take your US currency especially in South America).  I also have my ATM card and Credit Card.  Be aware that the majority of banks will slap on some International transaction fees if you use either.  So I usually try and use my ATM only once or twice.  There are some (but few) banks that do not charge International fees on their credit cards.  I think Commerce Bank is one of them.  Remember to call your credit card to tell them that you will be traveling overseas.  They will ask you for the dates you will be gone so that they don't flag your card when International charges show up on your account.  Leave at least 3-business days between notification and your actual departure date.  That's the max. amount of days I've seen it takes them to process this.

Here's some other suggestions:

I would also suggest a money belt.  It's dorky, but worth it.  You can keep your passport and money with you there.  Also, divide up your money so it's not all in one place.  I usually know what's in each pocket, it's great for bartering.  (eg. $20 in the left pocket, $5 in the right.  Merchants won't barter well with you if you whip out $100 right in front of them.) If you trust the security of your accommodations (or if they have a safe in the room)  then you can leave the passport and majority of your money there and just take whatever cash you'll need for the day.  Write down all of your card numbers with the International 800 number to call the companies just in case they get stolen and keep them separate from where you're carrying the cards.  I usually drop off the last 1 or 2 digits of the card numbers and memorize them, that way if the paper gets lost with the card numbers then if someone finds it they don't have my account number.  I also memorize the expiration dates.

Answer 5

A $100 worth in their currency and a $100 budget each day in traveler's checks!  Use the debit card for emergencies.