As a traveler, there are some things you just can’t live without. One of those essentials? Cash. Whether you’re on the go and need to pay for something immediately, or you’re looking to store some funds away in case of an emergency, cash is always a handy thing to have. But what happens when you’re traveling in a foreign country and don’t have a local bank account? Or what if you run out of cash while on your trip? Don’t worry – we’ve got you covered! In this blog post, we’ll teach you how to send and receive cash while traveling the world. We will also discuss the best methods for sending and receiving money, as well as safety tips to keep in mind. So, whether you’re a frequent traveler or just planning your first vacation, let’s get started!
1) Use Online Apps
The most common way to send money while traveling is by using online apps. These are quick and easy to use, require minimal setup and can be used from any place with an internet connection. Popular apps for sending money include Venmo, PayPal, Google Pay, Apple Pay, and Cash App. When choosing an app to use, make sure that it is compatible with the country you’re traveling in. If you are considering sending money to Kenya, the cheapest way to send money to Kenya is through Paysend. Also, make sure that you have a secure connection and add two-factor authentication to protect your account. This way, your money will be safe and secure while you’re away. Additionally, ask the person you’re sending money to if they have a wallet app such as Venmo, PayPal, or Apple Pay. That way you won’t have to worry about exchange rates and fees.
2) Use International Money Transfer Services
Another option for sending cash while abroad is to use a money transfer service such as Western Union or MoneyGram. These services allow you to send money from one location to another quickly and securely. They also offer competitive exchange rates and secure online transfers, making them a great way to move funds overseas without having to open a local bank account. To use these services, you will need to provide the recipient’s name and address, as well as the amount of money you want to send. Additionally, you may also be required to provide a valid form of identification. For example, you may need to provide a copy of your passport or driver’s license. Also, make sure that you are aware of all fees associated with the transfer before sending the money. These fees are usually based on the amount of money being sent. For instance, a $50 transfer may cost you anywhere from $5 to $20 in fees.
3) Use Prepaid Debit Cards
Prepaid debit cards are a great way to get cash while traveling. These cards are preloaded with funds that can be used anywhere that accepts credit or debit cards. This means you don’t have to worry about carrying around large amounts of cash or dealing with exchange rates. They also allow for online purchases and ATM withdrawals, making them a convenient way to access your money when abroad. Just make sure that the card is accepted in the country you’re visiting before buying one.
4) Receive Cash From Home
If someone at home needs to send you money while traveling, they can do so via a wire transfer. This is the safest and most secure way to receive funds abroad. Most banks offer this service for a fee, usually based on the size of the transaction. Once your bank has received the funds, it will be deposited into your account and available for you to use within a few days. For instance, if your bank is based in the US and you’re traveling in Europe, you can ask them to send funds directly to a local European bank. This is usually the quickest and most cost-effective way to receive cash from home.
5) Use International Currency Exchange Services
If you’re in a pinch, you may be able to find an international currency exchange service. These services typically offer competitive exchange rates and can help you get the most out of your money while traveling. However, they can also be expensive, so it’s important to compare rates before making a transaction. Additionally, make sure that the service is legitimate. Some services might offer a seemingly good exchange rate, but then charge you extra fees or take longer than promised to transfer your funds.
6) Use ATMs
Using an ATM is one of the easiest and most convenient ways to get cash while abroad. Not only do ATMs provide quick access to funds, but they often offer the best exchange rates as well. Just be sure that you know your daily withdrawal limit and check for fees beforehand so you don’t end up spending more than you expected. Additionally, be sure to use ATMs that are located in secure areas, such as inside a bank or hotel lobby.
7) Exchange Currency at a Bank
Exchanging currency at a bank is another way to get cash while abroad. This can be done either in person or online, depending on the bank’s policies. Exchange rates may vary from one bank to another, so it’s important to shop around for the best rate before making a transaction. Additionally, as mentioned above, make sure you are aware of any fees associated with currency exchange, as these can quickly add up.
Safety Tips for Sending & Receiving Cash Abroad
It’s important to be aware of safety tips while sending and receiving money abroad. Here are a few steps you can take to ensure that your funds remain secure:
- Always use a secure payment method, such as wire transfers or prepaid debit cards.
- Make sure the recipient has provided valid identification and proof of address.
- When using ATMs, be aware of your surroundings and only use those located in secure areas.
- Research the exchange rates before sending or receiving the money to make sure you’re getting a good deal.
- Only use reputable currency exchange services and compare rates before making any transactions.
- Finally, make sure to keep track of all transactions and store any important documents securely.
By following these steps, you can ensure that your money remains secure while traveling the world. With a little bit of preparation, sending and receiving funds abroad can be simple and stress-free. Good luck!