How to travel with 5K euros internationally?
I’m a first time international traveler going for a holiday in Spain for 10 days and I’ll be carrying with me 5k euros in cash. I’m worried I’ll be held by customs or questioned. I don’t know either if I need to declare the amount at customs, not just the Spanish customs. I will transit in Turkey and am unaware of all the procedures involved in different countries.
I thought about sending myself the cash through Western Union, but Western Union’s agents informed me that the cash may be held by other agents abroad (e.g, because of local legal policies) and I may not necessarily be able to collect it upon arrival.
I do not want my money to be seized by customs for whatever reason and at the same time I don’t want to give my money to Western Union and then failing to collect it. My credit card charges a high percentage for international transactions.
How do I get through customs without any problems while carrying this amount?
Best Answer
5000 EUR is under the limit at which you need to declare (10k EUR in Spain, 10k USD or its equivalent in many non-EU countries). For a developed country like Spain there is nothing to worry about here beyond whatever concern you'd normally have walking around with a bunch of cash.
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How long can you travel on 5000?
If you really just want to spend your 5K budget traveling, volunteering, and exploring a new country, Asia will allow you to spend three to five months on a $5,000 budget. Of course, if you want to spend more time than that in Asia, there are also a lot of opportunities for teaching English.How much money can you take when Travelling abroad?
How much cash can you carry? Travellers are allowed to purchase foreign currency notes / coins only up to $3000 per visit. Balance amount can be carried in the form of store value cards, travellers cheque or banker's draft.How much cash can you fly with UK?
Taking cash in and out of Great Britain You must declare cash of \xa310,000 or more to UK customs if you're carrying it between Great Britain (England, Scotland and Wales) and a country outside the UK.How much cash should I take to Europe?
As a rough estimation, budget $50-100 per person for each day that you will be away. This should cover your accommodation, food, drink and transportation costs. Of course, this number can vary according to the destination and your style of traveling.Getting Cash Abroad | Best Way to Exchange Currency When Visiting Another Country
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Answer 2
Your issue with customs has already been addressed so I would focus on the costs here. My credit card exchanges money at a rate specified by Visa or Mastercard and then adds 2.5%. In general that rate is some sort of central rate. If I exchange money for cash Euro today I would need to spend 4270 GBP to obtain 5000 EUR. If I exchanged the 5000 back straightaway I would receive 3676 GBP. Obviously you will not be changing it all back but I assume you are planning to have a contingency reserve and hope not to spend 5000. You can therefore see that although the bank charges seem high exchanging cash is not cost free either.
(Rates quoted above valid 26/02/2022 from the Post Office in the UK.)
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