My stay in Mexico turned out to be a good rehearsal for future rootless forays outside the US.
I took some cash with me to Mexico, along with a debit card and a credit card.
The first thing I learned was: The Mexican banks were not exchanging cash dollars into pesos. Euros yes; dollars no. This apparently went into effect in September, in an attempt to manage the flow of narco money. Result: I did change some cash at a casa de cambio, but at a lower exchange rate than I would have gotten at a bank.
Fortunately, I'd already arranged with my financial institution to open one of my debit cards and my credit card to international use, so it wasn't a big deal. For the remainder of my stay, I used my debit card to withdraw pesos at a bank ATM. The credit card was a back-up for the debit card.
For future: Always have a Plan B and C for accessing money. In this case, I had both a debit and a credit card in addition to the cash. In the reverse, though, it would mean if I planned to depend primarily on cards, then I'd still better also bring some cash (and even some old-school travelers checks, depending on the country).
The debit card I used was for my primary account. If someone had compromised access to the account, and then to its related accounts (such as a related savings account), I'd have been screwed in a major, major way. Even if my financial institution caught on to such a breach early, it would be a bummer, because the first thing the financial institution would do is disable my debit card, making it more difficult to access my money.
For future: This week, I opened a new checking account with a new number and with a segregated access portal. I opted out of the overdraft service, so if the account should be compromised, the $ will dry up when the funds in that account are depleted. It will be for travel only. I will only deposit enough in that account to cover what I think I'll need plus a cushion for modest emergencies. My goal is that any damage will be self-contained.
What's Your Travel Back-Up Plan? at travelbooklocker.com
Get Online as Safely as Possible While Traveling at glyphobet.
How to Bank Securely While Traveling at Bootsnall.com, the one-stop indie travel guide.
Banking While Traveling at How to Travel the World.com.
.... and then there's the suggestion I read to open a skype account, load it up with calling credit before leaving the country, and bank by phone. This seems to make the most sense to me right now.
On Plans A, B, and C
I took some cash with me to Mexico, along with a debit card and a credit card.
The first thing I learned was: The Mexican banks were not exchanging cash dollars into pesos. Euros yes; dollars no. This apparently went into effect in September, in an attempt to manage the flow of narco money. Result: I did change some cash at a casa de cambio, but at a lower exchange rate than I would have gotten at a bank.
Fortunately, I'd already arranged with my financial institution to open one of my debit cards and my credit card to international use, so it wasn't a big deal. For the remainder of my stay, I used my debit card to withdraw pesos at a bank ATM. The credit card was a back-up for the debit card.
For future: Always have a Plan B and C for accessing money. In this case, I had both a debit and a credit card in addition to the cash. In the reverse, though, it would mean if I planned to depend primarily on cards, then I'd still better also bring some cash (and even some old-school travelers checks, depending on the country).
Withdrawing $$ from checking or savings accounts via debit card
The debit card I used was for my primary account. If someone had compromised access to the account, and then to its related accounts (such as a related savings account), I'd have been screwed in a major, major way. Even if my financial institution caught on to such a breach early, it would be a bummer, because the first thing the financial institution would do is disable my debit card, making it more difficult to access my money.
For future: This week, I opened a new checking account with a new number and with a segregated access portal. I opted out of the overdraft service, so if the account should be compromised, the $ will dry up when the funds in that account are depleted. It will be for travel only. I will only deposit enough in that account to cover what I think I'll need plus a cushion for modest emergencies. My goal is that any damage will be self-contained.
Here's what others have to say about money and banking while on the road:
What's Your Travel Back-Up Plan? at travelbooklocker.com
Get Online as Safely as Possible While Traveling at glyphobet.
How to Bank Securely While Traveling at Bootsnall.com, the one-stop indie travel guide.
Banking While Traveling at How to Travel the World.com.
.... and then there's the suggestion I read to open a skype account, load it up with calling credit before leaving the country, and bank by phone. This seems to make the most sense to me right now.
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