How Much Cash do you Carry?

Back to Forum
Viewing 15 posts - 1 through 15 (of 53 total)

  • Anonymous
    Guest

    LuganoPirate
    Participant

    A troubling experience when leaving LCY for ZRH a short while ago.

    I was stopped by Revenue and Customs and asked how much cash I was carrying. Totting up my various Euro’s, Swissies, Pounds, Dollars, Rands and for good measure some Singapore Dollars left over from my July trip there, it came to about £3,000. The bulk being € & CHF.

    I had no receipts, and my bags were searched and I had to account for my stay from landing till then. I was also warned, and here’s the frightening bit, that my cash could be confiscated, and I would have 48 hours in which to appeal to a magistrate who would decide whether I could keep it or not!!! It should be noted you are allowed to leave with £10,000 in cash without having to declare it, so I was well within that amount.

    In the end he did not confiscate it but it left me quite shaken and I almost missed the flight.

    As foolish as it may seem, I have always carried cash with me. I have this, perhaps irrational, fear, that all my credit cards will stop working and so I like to have enough cash for emergencies. Considering a good hotel can cost upwards of £ 500 a night, a London meal for two £ 100, and a cab £60, not to mention tips etc, that amount equates to about 4 days in London.

    I was wondering how many of you fellow forum contributors knew about this rule, or should I say ruse, and what sort of sums you carry when you travel? Am I really an exception?


    CHINABOY
    Participant

    That is positively frightening, once again too much intrusion into the
    privacy and rights of a traveler.


    BABenji
    Participant

    Having been in Moscow, I was flying back to the UK via Poland for a few days. I was passing through security in Poland and the young man looking at my bags became quite animated when he found the large wad of notes in my hand luggage. He was equally deflated when I told him they were Roubles and that they amounted to about €150 worth. Unfortunately Travelex had given me tiny denomination notes meaning I looked like Loadsamoney.

    I vary the amount of cash depending on where I am. In Germany, hardly any restaurants take credit cards, in Oz credit cards are accepted everywhere, so for a two day trip to Germany I could have a €500 and for a two week trip to Oz I could carry about $500 – $750.

    Personally, I hate carrying cash. Even on a personal level I will pay for things with a card wherever I can.


    NTarrant
    Participant

    I think the question should be “why are you carrying about that amount of cash anyway?” I don’t think your arguments about cost stack up, you can get a good hotel in London for far less half the amount you mention and a meal for two for far less than £100. The only thing I would agree with you is the cab rate to/from Central London to LHR and you might have underestimated at certain times.

    In these days of credit cards there is no need to carry that amount of cash. Hotel bills, meals can all be paid for without cash. The reason why people are stopped and checked is because of money laundering, look at what you are carrying.

    In answer to your question, I suspect you are the exception, personally I only take about £100 worth of local currency if that, there are holes in the wall to get cash.


    Potakas
    Participant

    Lugano i was aware as i had to travel often to Serbia and Montenegro and there they always ask you but is very rare to check you, when i am away from EU i usually carry no more than 1000$ and my Credit card, and Debit card, if something happens to my cards, i have those 1000$ until someone will send me more money from my family.

    I always try to hide them away from the pockets i use, as I think that is not safe carry so much money in cash with you.


    MartynSinclair
    Participant

    LuganoPirate – I had a similar experience at LHR recently, with the added ‘frightner” that 2 armed police were positioned behind me when I was being questioned. Pehaps they were trying to protect me from other posters!!

    The bottom line here is that carrying cash, within limits IS NOT AN ILLEGAL ACT. However, various organizations have the right to ask why one is in carrying any amount. As NTarrant says, £3000 is a high amount, however, I would have thought that a quick look at your passport, showing the different entry stamps is a perfectly rational reason why you have the equivalent of £3000 in various currencies.

    When ever I have been stopped and searched (which I have absolutely no problem with at all) I have always found people to be courteous and polite. Mind you with 2 M16’s behind you, it kind of stops you being too argumentative.


    DisgustedofSwieqi
    Participant

    Lugano Pirate

    I usually carry about 250€, but if I am going to countries where cash may be difficult to come by, I increase it accordingly.

    For an even more concerning view of UK lunacy, read this link for an even more disturbing application of draconian powers

    http://www.kinsellatax.co.uk/index.php?mact=News,cntnt01,detail,0&cntnt01articleid=56&cntnt01origid=363&cntnt01returnid=363

    NTarrant – why shouldn’t he carry an amount of cash which is only 33% of the declaration limit? That is the question, surely.

    Not my choice, but that does not mean it is a unreasonable thing to do.


    VintageKrug
    Participant

    It does seem rather heavy handed to have given you such a detailed grilling that you nearly missed your plane.

    However Money Laundering is a serious offence, and being often connected with illegal activity, I can understand the need for HM Customs (or did the nasty anti-Royal socialists rename it to something which sounds like a Catalogue for casualwear?) to be vigilant.

    You are indeed permitted to enter EU countries with up to €10,000 in cash and this is well publicised near baggage claim in most UK airports. I would imagine with a reasonable stash remaining from a few days’ stay, the Customs chappie wanted to ensure you hadn’t entered with more than the restricted amount, outlined here:

    http://www.hmrc.gov.uk/customs/arriving/declaring-cash.htm

    Of course it is perfectly legal to enter with more, you just have to declare it, prove where it came from and what you intend using it for; personally I keep most of my personal transactions (both electronic and personal cash) between countries to relatively small amounts, and well under €10k, to avoid any scrutiny.

    I think there is far greater risk carrying large amount of cash around than the potential for loss from a single lost credit card, and that includes the risk of being flagged up as a potential money launderer and risking investigation for that, even if you are innocent.

    I always carry a few credit cards, some in my wallet, some in my travel wallet with my (modest) amount of currency and some elsewhere, secreted in my packing; even if I lose one wallet, I always have cards to fall back on; Amex will deliver a new card almost anywhere next day, and also advance cash, or I can rely on friends or associates in most places I visit.

    However, having said that I confess I do find myself carrying more cash than I used to in order to avoid the increasingly egregious foreign currency fees levied by my credit cards, so I can understand LuganoPirate’s policy of using cash.


    LuganoPirate
    Participant

    That is frightening Disgusted. I don’t know of any other country in Europe where this could happen. It would need the order of a judge to enter premises and confiscate anything in most places outside of China and certanly not on the say so of a Town Hall official.

    NTarrant, you bring up a point my wife brings up all the time. She thinks I’m crazy, but I do not feel secure if I don’t have a small wad with me. I distrust plastic which is great, but subject to power cuts and the arbitrary need to refuse a transaction, perhaps for a security check, just when you are in the most hurry. It’s much quicker to peel off the cash and deal with the check while in the taxi.

    True, London hotels can be found for much less, my club in St. James charges £120, but sometimes I need to stay in the Ritz or Claridges if with a client.

    Then there is the 3% card companies charge, plus a handling fee and exorbitant exchange rates. Many companies will give you 10% off if paying cash, which with the VAT refund can equate to a 30% saving.

    Talking to Swiss friends (nationals that is) they all carry a few thousand with them. Switzerland is still a cash society and like many Germans they do not like credit cards.

    Martyn, that must have been frightening. Though I should emphasize the officer was also very courteous and polite at all times, and he did not confiscate the loot. While £3,000 sounds a lot, it was just a note of CHF 1,000, 4 x 4 500, 6 x £50 and 3 x $ 100, plus some assorted smaller notes. This fits easily in my zipped inner jacket pocket.

    I could understand it if there were signs saying you could be questioned, have it confiscated etc, but the only ones I have ever seen are signs saying you must declare any amount over £ 10,000 / € 10,000.

    I know we have the problem of drugs and money laundering, but criminals also buy cars and watches. That does not make us all criminals because we buy a car or watch!


    RoadKing
    Participant

    On most of my travels, I rarely bring any cash but pocket change. Have a load of cards that will provide me with local cash if needed and otherwise take care of the most of the expenses.

    Frankly, I try to avoid currency, it is a mess.


    VintageKrug
    Participant

    Perhaps it was his stumpy leg and eye patch which drew suspicion?


    LuganoPirate
    Participant

    Thanks VK. In fact they made a note of all the people I had visited and took copies of the visit cards. It was very intrusive and because of the actions of a few we all seem to be made guilty until we can prove our innocence.

    Just how many foreign travelers to the UK, with perhaps limited English, get caught by this. Is this a revenue raising scheme as most people think it more time consuming and costly to take on a lawyer, return to the UK to fight the order etc. It would be nice to find out.


    robsmith100
    Participant

    I must admit i do prefer to use cash when abroad, however depending on the nature of my trip eg pleasure or business will depend on how much i carry and depending on my purchase i will pay for it on card. In mainland europe i will usually carry up to £200 and £400 if long haul.

    Does any one still use travellers cheques?


    LuganoPirate
    Participant

    I leave the eye patch at home these days, and as the wooden leg is often mistaken for a weapon by security I prefer to hop!!! Perhaps I should change my name to “Hopalong Cassidy”???

    My hook rarely gets controlled though and can be used very effectively to hang on to airport bus hand rails without the need to disinfect the hands after!!!

Viewing 15 posts - 1 through 15 (of 53 total)
You must be logged in to reply to this topic.
Business Traveller March 2024 edition
Business Traveller March 2024 edition
Be up-to-date
Magazine Subscription
To see our latest subscription offers for Business Traveller editions worldwide, click on the Subscribe & Save link below
Polls