How Much Cash Should You Carry When Travelling Abroad?

For most trips, carrying the equivalent of $100 to $300 CAD in local currency is usually enough. This gives you cash for small purchases and emergencies.

You can use a card for larger expenses and withdraw more money if needed.

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Why Should You Carry Some Cash When Travelling?

Cards are widely accepted in many countries. Cash can still be useful.

You may need it for:

• Small restaurants

• Local markets

• Taxis

• Tips

• Public transportation

• Public washrooms

• Small businesses

• Emergencies

Cash can also help if your card is temporarily declined.

How Much Cash Should You Carry Each Day?

You usually do not need to carry your entire travel budget.

Around $50 to $100 CAD worth of local currency per day may be enough in places where cards are common.

You may want more cash if you are visiting rural areas or countries where cash payments are more common.

Should You Exchange Cash Before Travelling?

It can be useful to arrive with a small amount of local currency.

You do not necessarily need to exchange all your spending money before your trip. You can usually withdraw more from an ATM after you arrive.

This also prevents you from carrying a large amount of cash while travelling.

Is It Better to Travel With Cash or a Card?

Using both is usually the most practical option.

Cards can be useful for:

• Hotels

• Restaurants

• Shopping

• Flights

• Train tickets

• Attractions

Cash can cover smaller purchases and situations where cards are not accepted.

Should You Carry All Your Cash With You?

No.

Keep only what you expect to need that day in your wallet.

Store the rest somewhere secure. You can also keep a backup card separate from your primary wallet.

If your wallet is lost or stolen, you will still have another way to access money.

Should You Pay in Canadian Dollars Abroad?

If a card terminal gives you the choice between Canadian dollars and the local currency, choosing the local currency is usually better.

Choosing Canadian dollars can trigger dynamic currency conversion. The merchant or ATM sets the exchange rate in that situation. That rate may be less favourable.

How Much Cash Is Too Much?

Carrying hundreds or thousands of dollars in cash creates unnecessary risk.

Large amounts of cash can be difficult or impossible to recover if they are lost or stolen.

Some countries also require travellers to declare cash above certain amounts when crossing the border.

So, How Much Cash Should You Travel With?

A good starting point is the equivalent of $100 to $300 CAD in local currency.

Carry enough for small purchases and unexpected situations. Use a card for most larger expenses.

You can always withdraw more cash later if you need it.