[Arcais]

Hey all,

I currently have a dilemma and wanted to know if you guys could help me out and answer my question. I've never really traveled before on my own and I'm setting off to Brazil from California.

If I board an airplane with say $1,000 on me and $10,000 in luggage will I be stopped for moving American dollars overseas? Are there any regulations against carrying money in a luggage bag?

I just don't want to use a credit card while traveling. I want to use cash only (converted to the Real when I get to Brazil).

Has anyone ever used cash only on their travels?

[Phil Asheo]

You're better off just putting the money in a bank account and using a debit card so you can move unlimited funds. Otherwise just declare to customs your cash. It is not illegal to move more than 10k, it is illegal to move more than 10k and not declare that you are. It is designed to thwart drug dealers who don't want to register their money with government. so unless your trying to hide income from the government then you have nothing to fear

[Soma]

This is a terrible idea. What if your luggage is lost? Or security in either US or Brazil rifle through your bag? You're SOL and out 10 g's. No, nothing illegal if you declare it, but then you may be put on government lists of someone moving a large sum of cash to South America. Do you really want that on your file?

Why don't you want to use a credit card?

[Lemmo]

Putting that much in luggage is crazy. If you are in a major city, you should have no problem withdrawing local currency from an ATM using your debit card. Just check with your bank. You may also want to let your bank know you will be traveling so they don't put a fraud lock on your account and force you to waste time calling them to unlock your account.

[hydrogonian]

Definitely don't put in in your luggage. Why? They will see it on the scanners, anyway. And, you can't keep people out of your bags after you check them.

If you don't declare it and they find it, they will confiscate it and you won't get it back.

Its better to move it through a bank transfer or by declaring it.

Theoretically, you can use pre-loaded cards to move it, but I believe that they still count as currency and so you will get in trouble/get them confiscated if they are discovered and it is revealed how much you are moving with them. Someone can correct me if I'm wrong. It's better to declare or move the cash through other means.

Also, get a money belt if moving that much. Have it strapped to your person at all times.

[alchemist88]

(12-05-2011 01:06 PM)Arcais Wrote:  

Hey all,

I currently have a dilemma and wanted to know if you guys could help me out and answer my question. I've never really traveled before on my own and I'm setting off to Brazil from California.

If I board an airplane with say $1,000 on me and $10,000 in luggage will I be stopped for moving American dollars overseas? Are there any regulations against carrying money in a luggage bag?

I just don't want to use a credit card while traveling. I want to use cash only (converted to the Real when I get to Brazil).

Has anyone ever used cash only on their travels?

yes I agree with the others, its less safe to put it in your luggage because someone working/checking your bag could easily take it, say it got lost.

Much more easy to put it in a bank account, its converted at the ATM to Reai for a small fee, no biggy! I always like to bring two debit cards in case something bad happens and I get jacked

[Locksmith]

For heaven's sake, don't put money in your luggage.

You can enter the country with up to 10,000 USD in cash without breaking any laws or tax rules (if I remember well the exact sum).

You'll have to fill in a custom's form with a question "do you carry more than X in cash?"

If you reply "Yes" they will stop you and you'll have to go through a lot of hassle although it's doable (I wouldn't know the exact procedure).

Or, you can just lie and fill in "No" and enter the country with more than the allowed amount of cash. But in case they stop and search you, you're going to be taken to jail and that's the end of your fun for a while. IMO, it's not worth taking the (small) risk.

Carry some cash with you but rely on a debit card and a (pre-paid) credit card which you can use locally at ATM's, shops and restaurants. Last time I got a pre-paid credit card the bank even gave me two of them, so I would have a back-up in case of loss or theft. Plus cards can be cancelled and replaced by a fresh one, lost cash is lost cash.

[CrackerJack]

(12-05-2011 01:06 PM)Arcais Wrote:  

Hey all,

I currently have a dilemma and wanted to know if you guys could help me out and answer my question. I've never really traveled before on my own and I'm setting off to Brazil from California.

If I board an airplane with say $1,000 on me and $10,000 in luggage will I be stopped for moving American dollars overseas? Are there any regulations against carrying money in a luggage bag?

I just don't want to use a credit card while traveling. I want to use cash only (converted to the Real when I get to Brazil).

Has anyone ever used cash only on their travels?

Definitely don't put in the checked baggage. 10G is not that much when you have it stacked in 100s. Either keep in in the money belt or just put it in a notepad along with other papers in your carry on. If you do use a money belt, make sure your regular belt and shoes are security friendly and put all your coins and other metal in the carry on to avoid unnecessary pat downs. If they pat you down and find the belt they will want to have a look at it. I would feel uncomfortable about a bunch of people behind me knowing that I have money in a hidden belt.

Have a couple of 100s in your packet for expenses like food and taxis. You don't want to fumble around with a bunch of 100s at some local airport with hustlers around.

I would worry more about keeping the money intact once you arrive. Hotel safes can easily be accessed by pro-active maids. If I have spare cash I put it in my passport and tape it to the top of the safe. Not bullet proof but so far it has worked for me.

Still, I'm not sure why don't you just use ATMs? I understand not using a credit card but ATMs are pretty convenient when traveling. Unless you're doing some specialized jungle adventure when you need to pay off a helicopter at a drop off point it's hard for me to imagine carrying more than a 1000.

[PDX]

Brazil, a great place to be kicking about with $10k cash on your body.

[Hencredible Casanova]

(12-05-2011 01:06 PM)Arcais Wrote:  

Hey all,

I currently have a dilemma and wanted to know if you guys could help me out and answer my question. I've never really traveled before on my own and I'm setting off to Brazil from California.

If I board an airplane with say $1,000 on me and $10,000 in luggage will I be stopped for moving American dollars overseas? Are there any regulations against carrying money in a luggage bag?

I just don't want to use a credit card while traveling. I want to use cash only (converted to the Real when I get to Brazil).

Has anyone ever used cash only on their travels?

The 10K in the luggage is not a good move for many reasons. I would suggest, as others have, to just use an ATM card that works internationally. If I may, allow me to suggest a great checking account that I've been using for years from Charles Schwab. It's their high-yield investor checking account. In addition to the free checking account, they provide you with a free brokerage account to execute trades and investments if you please, but the real draw is the fact that [b]they refund all ATM fees from any machine in the world at the end of each month. So lets say you rack up $500 in ATM fees in one month while in Brazil simply for withdrawing your money from machines there at various instances, at the end of the month you will see a credit to your account for $500.

There are no fees or minimums required to have this account. It's consistently been rated a top checking account on bankrate.com over the years.

Here is an article about it from the guy who wrote "I Will Teach You To Be Rich," http://www.iwillteachyoutoberich.com/blo...g-account/

The only thing, though, is it's an online bank. You can visit branches to make check or money order deposits, however. Also, if you need to move money between accounts with other banks, it's free and can be handled online.

It's definitely a choice account for an international player. It's held me down for years. Before the economic recession, accountholders were accruing 3.5% interest rates on the account, which is higher than most savings rates, but now it's gone down considerably, though still better than most savings accounts in the game. Can't lose.[/b]

[Lemmo]

(12-05-2011 08:32 PM)Hencredible Casanova Wrote:  

(12-05-2011 01:06 PM)Arcais Wrote:  

Hey all,

I currently have a dilemma and wanted to know if you guys could help me out and answer my question. I've never really traveled before on my own and I'm setting off to Brazil from California.

If I board an airplane with say $1,000 on me and $10,000 in luggage will I be stopped for moving American dollars overseas? Are there any regulations against carrying money in a luggage bag?

I just don't want to use a credit card while traveling. I want to use cash only (converted to the Real when I get to Brazil).

Has anyone ever used cash only on their travels?

The 10K in the luggage is not a good move for many reasons. I would suggest, as others have, to just use an ATM card that works internationally. If I may, allow me to suggest a great checking account that I've been using for years from Charles Schwab. It's their high-yield investor checking account. In addition to the free checking account, they provide you with a free brokerage account to execute trades and investments if you please, but the real draw is the fact that [b]they refund all ATM fees from any machine in the world at the end of each month. So lets say you rack up $500 in ATM fees in one month while in Brazil simply for withdrawing your money from machines there at various instances, at the end of the month you will see a credit to your account for $500.

There are no fees or minimums required to have this account. It's consistently been rated a top checking account on bankrate.com over the years.

Here is an article about it from the guy who wrote "I Will Teach You To Be Rich," http://www.iwillteachyoutoberich.com/blo...g-account/

The only thing, though, is it's an online bank. You can visit branches to make check or money order deposits, however. Also, if you need to move money between accounts with other banks, it's free and can be handled online.

It's definitely a choice account for an international player. It's held me down for years. Before the economic recession, accountholders were accruing 3.5% interest rates on the account, which is higher than most savings rates, but now it's gone down considerably, though still better than most savings accounts in the game. Can't lose.[/b]

But does Schwab hit you with a foreign transaction fee on withdrawals from ATMs outside the US? eTrade also provides a reimbursement for all ATM withdrawal fees but charges a 1% fee on withdrawals outside the USA.

[Hencredible Casanova]

But does Schwab hit you with a foreign transaction fee on withdrawals from ATMs outside the US? eTrade also provides a reimbursement for all ATM withdrawal fees but charges a 1% fee on withdrawals outside the USA.
[/quote]

No fees at all bro. None.

[iknowexactly]

(12-05-2011 10:09 PM)Hencredible Casanova Wrote:  

But does Schwab hit you with a foreign transaction fee on withdrawals from ATMs outside the US? eTrade also provides a reimbursement for all ATM withdrawal fees but charges a 1% fee on withdrawals outside the USA.

No fees at all bro. None.
[/quote]

I have a Schwab account like the above poster described, and it seems to work well so far.

1) Universal ATM fee refund is great
2) They will send cards to you overseas if you lose yours, which is important. Wells Fargo just wouldn't do it. What happens if you lose card/card is damaged? You're SOL
3) I believe they told me Visa charges 1% on foreign transactions, but that is on a good forex rate.

I think a no-fee. no-charge, good forex transaction rate ( how many euros do you get for your dollar) is a fantasy.

You think people are going to keep records, give you a card, and send money to foreign ATM's and make ABSOLUTELY ZERO on it?

[Hencredible Casanova]

(12-05-2011 10:55 PM)iknowexactly Wrote:  

(12-05-2011 10:09 PM)Hencredible Casanova Wrote:  

But does Schwab hit you with a foreign transaction fee on withdrawals from ATMs outside the US? eTrade also provides a reimbursement for all ATM withdrawal fees but charges a 1% fee on withdrawals outside the USA.

No fees at all bro. None.

I have a Schwab account like the above poster described, and it seems to work well so far.

1) Universal ATM fee refund is great
2) They will send cards to you overseas if you lose yours, which is important. Wells Fargo just wouldn't do it. What happens if you lose card/card is damaged? You're SOL
3) I believe they told me Visa charges 1% on foreign transactions, but that is on a good forex rate.

I think a no-fee. no-charge, good forex transaction rate ( how many euros do you get for your dollar) is a fantasy.

You think people are going to keep records, give you a card, and send money to foreign ATM's and make ABSOLUTELY ZERO on it?

[/quote]

They use their checking account service to bring you into their brokerage side (that's where they make their money). That's the reason you are given a brokerage account AND a checking account when you sign up for the checking service. That's also why any deposit you make into the account hits the brokerage side of the account. They are hoping you move your as much of your money into investment products, of which they collect a fee for those transactions. If you want to move those funds over to checking, you have to login online and do a transfer, though that's instantaneous. Also, if you draw on the funds from your checking account and go over the balance, the transaction will pull the remaining funds from your brokerage account to cover the expense.

[alchemist88]

(12-05-2011 05:42 PM)CrackerJack Wrote:  

(12-05-2011 01:06 PM)Arcais Wrote:  

Hey all,

I currently have a dilemma and wanted to know if you guys could help me out and answer my question. I've never really traveled before on my own and I'm setting off to Brazil from California.

If I board an airplane with say $1,000 on me and $10,000 in luggage will I be stopped for moving American dollars overseas? Are there any regulations against carrying money in a luggage bag?

I just don't want to use a credit card while traveling. I want to use cash only (converted to the Real when I get to Brazil).

Has anyone ever used cash only on their travels?

Definitely don't put in the checked baggage. 10G is not that much when you have it stacked in 100s. Either keep in in the money belt or just put it in a notepad along with other papers in your carry on. If you do use a money belt, make sure your regular belt and shoes are security friendly and put all your coins and other metal in the carry on to avoid unnecessary pat downs. If they pat you down and find the belt they will want to have a look at it. I would feel uncomfortable about a bunch of people behind me knowing that I have money in a hidden belt.

Have a couple of 100s in your packet for expenses like food and taxis. You don't want to fumble around with a bunch of 100s at some local airport with hustlers around.

I would worry more about keeping the money intact once you arrive. Hotel safes can easily be accessed by pro-active maids. If I have spare cash I put it in my passport and tape it to the top of the safe. Not bullet proof but so far it has worked for me.

Still, I'm not sure why don't you just use ATMs? I understand not using a credit card but ATMs are pretty convenient when traveling. Unless you're doing some specialized jungle adventure when you need to pay off a helicopter at a drop off point it's hard for me to imagine carrying more than a 1000.

Does anyone know if security checks you when you actually land in the foreign country? you've already been check getting onto the flight I'd assume not as well when you get off? I'd like to put my money belt on while on the plane after I go thru security to board my flight....but like you said I don't want to get patted down and be asked to remove it in front of everyone seeing its there

[Arcais]

Thanks for the tips.

I'll check into the Charles Schwab account.

[ersatz]

Most people don't travel that much either, and Charles Shwab gets something like ~%1 from every debit card transaction from the merchant. They're also an online bank so not as much bank branch bills to pay vs a normal bank.