Cash to carry while on the road?

[Ray,IN]

Todays small business trend of charging an additional 3-3.5% for using a CC is changing how DW and I spend. We used to do like Kirk explained, now we also carry enough hard cash to get us through a full day of avoiding the add-on % for using a CC; otherwise we still use our Discover Card, which is good everywhere just as long as I call and advise them where to expect to see CC use when traveling, otherwise Discover locks my card.

 

[bruce t]

Er I win. 😊 we once carried a six figure sum, in cash, from Australia to the USA and paid for our Country Coach with it! Long story for another time! But let me say our trip through customs at LAX was "interesting".

But re carrying cash. We always carry cash. But now the ATM'S are charging fees for non customers that are higher than credit card fees. So taking cash out as you go can be more expensive than card fees.

We had our Australian credit card "used" by someone else while in the USA. Our Australian bank had a replacement card in our hands in under 48hours.

 

[Payroll Person]

3 hours ago, Ray,IN said:

Todays small business trend of charging an additional 3-3.5% for using a CC is changing how DW and I spend. We used to do like Kirk explained, now we also carry enough hard cash to get us through a full day of avoiding the add-on % for using a CC; otherwise we still use our Discover Card, which is good everywhere just as long as I call and advise them where to expect to see CC use when traveling, otherwise Discover locks my card.

 

Not a trend. Businesses accepting cards always factor in their merchant fees. Those that pay cash or check, some feel it is a bonus. But, managing cash and checks has a cost too.

[jenandjon]

I keep no less than 300 in cash on me when I'm on the road. Even in my commercial truck. I have the company card if anything happens, but you need enough cash to grease some palms if the situation arises. For example, I have shown up at a tire shop right at closing and was told to come back tomorrow. You start waving a $50 bill they change their minds. 

[rickeieio]

4 hours ago, Payroll Person said:

Not a trend.

Perhaps not a trend, but we never saw a sign declaring a discount for cash until the past couple years.  Now it's common.  I guess it depends on your definition of "trend".

As to the "cash back" of cards, I'm tired of businesses playing games, like fuel points, cash back, etc.  Just tell me a price and I choose whether to pay, or not.  I avoid groceries using the fuel point carrot, and don't fuel at their pumps.  Call me old fashioned, but I've done fine so far.

[palmeris]

Cash Management while traveling is certainly a personal preference. 

For us, we typically start out with 2500.00 and it is "distributed" so its not all in 1 location in case of compromise. DW and I each personal carry couple of hundred, the remaining is stashed in truck, trailer, car, motorcycle . Stashes used to replenish our personal carry as required. When cash stash gets below 1000 its time to hit an ATM to stoke the coffers, just do a google search for ATM near me and figure it in the travels

 The withdraw amount can be limited by the specific ATM, the least we were able to get was $400 at a 7-11 but a majority of ATM locations will allow 1000 and some bank locations 2000 per transaction. We get reimbursed for all out of network ATM fees by our bank and there is no additional fee from our bank.

We have multiple accounts, checking, savings, brokerage etc. and they are all linked to be able to transfer between them on line, auto overdraft, auto payments, etc. We manage the balances, transfers, cash flow, credit cards, ACH debits and credits online through our secured internet connection. We never use any public WIFI, our devices are connected to our password protected network or cell providers towers only. Works for us.

YMMV

[Kirk W]

JustRich, while I have several thoughts on some of the views expressed thus far, I am wondering what you are thinking and if your question has been satisfactorily answered?

Edited January 26 by Kirk W

[TXiceman]

The most value we ever carried was when we were transferring about $55k in Krugerrands and silver coins from one safety deposit box to another after we came off the road.   We were followed from the bank and victims on an attempted "bank Jugging".  He did not get the bag, and too off.

Afte this, I just do not carry much of value.  Too many crooks.

Ken

[2gypsies]

8 hours ago, palmeris said:

Cash Management while traveling is certainly a personal preference. 

For us, we typically start out with 2500.00 and it is "distributed" so its not all in 1 location in case of compromise. DW and I each personal carry couple of hundred, the remaining is stashed in truck, trailer, car, motorcycle . Stashes used to replenish our personal carry as required. When cash stash gets below 1000 its time to hit an ATM to stoke the coffers, just do a google search for ATM near me and figure it in the travels

 

Obviously, you don't use credit cards to feel you need to have $2500 in cash.  That amount in cash would last years for us.  😉

[bruce t]

I think a lot of it is a generational thing. Our daughter wouldn't know what cash looks like. She puts everything on a card. We've seen here buy a bottle of water and flash the card to pay for it. Where as we only use a card to pay our bills. We also worked in business where cash was king. So cash is what we know. 

If you're my age you will remember the days before ATMs. Days before cards. Days before the 24 hour 7 days a week trading. Where the weekend was for relaxation and family. Oh but I long for the good ol days.

 

[sandsys]

2 hours ago, bruce t said:

If you're my age you will remember the days before ATMs. Days before cards. Days before the 24 hour 7 days a week trading. Where the weekend was for relaxation and family. Oh but I long for the good ol days.

You can still schedule your weekends to be for relaxation and family. It's just a case of deciding to do that.

Linda

[Ray,IN]

17 hours ago, Payroll Person said:

Not a trend. Businesses accepting cards always factor in their merchant fees. Those that pay cash or check, some feel it is a bonus. But, managing cash and checks has a cost too.

Here in Indiana some businesses add a surcharge for using a CC onto the total  bill. You don't know it until you read the receipt unless they have a sign posted stating such. IMO, their intent is to reclaim that % cashback for themselves.

[FULLTIMEWANABE]

6 hours ago, bruce t said:

I think a lot of it is a generational thing. Our daughter wouldn't know what cash looks like. She puts everything on a card. We've seen here buy a bottle of water and flash the card to pay for it. Where as we only use a card to pay our bills. We also worked in business where cash was king. So cash is what we know. 

If you're my age you will remember the days before ATMs. Days before cards. Days before the 24 hour 7 days a week trading. Where the weekend was for relaxation and family. Oh but I long for the good ol days.

 

Remember when we bought Christmas presents that needed batteries and how disappointed the recipient was if you forgot to buy the batteries because in the UK back then, if xmas day fell on a weekend and so did Boxing Day (26th), they might have to wait up to 4 days to enjoy till the stores opened again after days in lieu!!!    

[dblr]

6 hours ago, FULLTIMEWANABE said:

Remember when we bought Christmas presents that needed batteries and how disappointed the recipient was if you forgot to buy the batteries because in the UK back then, if xmas day fell on a weekend and so did Boxing Day (26th), they might have to wait up to 4 days to enjoy till the stores opened again after days in lieu!!!    

We have a rule in our family that batteries HAVE to be included to insure it is a complete gift, of course Mom always seemed to have "extra" batteries on hand.... aren't Mom's GREAT!!!!!!!!!

[palmeris]

14 hours ago, 2gypsies said:

Obviously, you don't use credit cards to feel you need to have $2500 in cash.  That amount in cash would last years for us.  😉

We do have cards,  for fuel open roads TSD card is linked to a checking account for ACH, also have a discover, visa and mastercard credit cards that are used on occassion, any balances paid in full when the bill is due. As I said, its a personal choice.  What we feel 😉is the need to be independent , to decide what payment method suits our circumstances best, and to have those payment options available in our pocket when its time to spend.

[justRich]

On 1/26/2024 at 6:46 AM, Kirk W said:

JustRich, while I have several thoughts on some of the views expressed thus far, I am wondering what you are thinking and if your question has been satisfactorily answered?

After reading and thinking about the responses to the question I've concluded that "for me" the answer is to have a "set aside" cash amount.  
The "set aside" amount of cash would be sufficient to fuel the rig back to a safe port or home base in the event of a catastrophic communications failure - where ATM and credit cards might not be reliable.   

The set aside would be stash cash and I'll probably need a vault of some kind for that.
"Wallet cash" would be the amount that many have expressed that they carry.  For me, probably no more than $600. though that seems a little high.  

Historically, there's always been a couple hundred in the camper but never a need for it.
This thread has helped me clarify an answer to what is really a personal question.
I appreciate all expressed insights - they've proved quite valuable to me.

 

[Kirk W]

34 minutes ago, justRich said:

The set aside would be stash cash and I'll probably need a vault of some kind for that.

When you consider that part, keep in mind that most of those have a very limited time & temperature in which they are fire safe. Also emergency access should be considered. 

[kb0zke]

We are starting to move toward more cash payments, since it is easy to get cash from WalMart. We generally don't carry a lot of cash with us. We have a debit card that is connected to an account which pays us a pretty good interest rate if we use the debit card a certain number of times each month. We therefore use the debit card for smaller purchases, and sometimes we separate a grocery trip into two purchases just to use it twice. We try not to use the debit card for really small purchases, as we understand the merchant has costs, too.

[bruce t]

Something to consider!

As we head towards less reliable renewable energy and the increasing likelihood of power outages reliance on cards becomes more risky. Plus with the ever growing number of scams the risks increase using any sort of technical funds transfers.

The need for electricity will be our downfall!! Yes im dramatising. But just look at what happens when you cant charge your phone. We have all seen the chaos at the checkout when there's an outage. Storm damage and power outages tell me that cash will be king for a long time to come.

 

[Ray,IN]

Yes a safe is fireproof, as Kirk said, within the limits the mfgr. sets. However, paper contents will be black ash.

As to the recent adding a surcharge for using a CC. Friday night CBS did s segment about this very thing happening across the U.S.A.

[palmeris]

We ask if there's a discount if paid in full with cash.  We have seen different percentages range from 2 % to 10% but the majority being no sales tax on the transaction...

[Kirk W]

52 minutes ago, palmeris said:

the majority being no sales tax on the transaction...

Interesting. I haven't seen as many discounts for cash as used to be common and the no sales tax is new to me Maybe unreported income?

[sandsys]

3 hours ago, palmeris said:

We ask if there's a discount if paid in full with cash.  We have seen different percentages range from 2 % to 10% but the majority being no sales tax on the transaction...

They can't actually do no sales tax. What they do is give you a discount using that explanation for the amount as it is easy for the buyer to understand and makes it sound like the seller can't negotiate the amount.

Linda

[DJohns]

I only have one credit card.  If you ever had you CC company call you saying your card is canceled do to being hacked.  It has happened to me three times in the last 10 years so don't think it won't happen.They will tell you a new one will be over nighted. It will not come for three days. You can travel but can't buy gas or food so when traveling I keep enough to last four or five days. Cash is always a handy item to help get out of a jam.

[FULLTIMEWANABE]

I thought of this thread last night when standing in line at Walmart Pharmacy!

Collecting my meds - stood in line forever at the cashpoint area as the guy in front of me kept trying and trying and trying his card.   Kept saying "I checked on line I have $200 in that account"   Finally after 20+ mins he offered for me to collect my meds and pay.   Problem was the clerk couldn't void the $186.43 charge on the system, a senior pharmacist had to and they were out on the floor with a customer discussing a medical need.

I know most don't bat an eyelid, but I'd be mortified holding up a line up of folks for over half hour plus in the end = another reason I always have cash tucked away on my person wherever we may be, travelling or at Homebase.