How to Travel Asia with Cash: 15 Expert Money Tips (2023)

Feeling a bit nervous about travelling Asia with cash? I’ve been there! 

Stepping into a new country can be super exciting, but also a bit overwhelming, especially when it comes to handling the local currency.

Over the years, I’ve gathered some invaluable tips and tricks on how to manage cash and local currency when exploring this incredible continent. 

Whether you’re a seasoned traveller or embarking on your first Asian adventure, these money-saving travel hacks will help you make the most of your journey while also keeping your money safe.

Ready?  Let’s dive right in!

Disclaimer: Before we embark on this adventure together, a little heads-up – always keep your street smarts sharp and your wits about you. Trust your gut, and if something feels fishy, it probably is!

1. Embrace the Local Currency: Cash is King!

In many parts of Asia, cash is still the go-to payment method. 

You should always carry some with you for everyday expenses like grabbing a tuk-tuk ride or buying some street food. 

Plus, whether you’re haggling for souvenirs or dining in a fancy restaurant in Singapore, using the local currency gets you the best exchange rates and helps you avoid those annoying transaction fees.

So, as soon as you land in a new country, make it a habit to exchange or withdraw some of the local currency. 

2. Diversify Your Payment Methods

While cash is still king in Asia, it’s important not to put all your eggs in one basket.

My advice? Try to carry a mix of cash, debit or credit cards, and even digital payment apps like PayPal or a local equivalent. 

This way, even if one method fails, you´ll still be able to pay your bill or access your funds. 

Struggling to understand payment methods in Asia? Check out my full guide right here.

3. Split Your Cash in Asia

To reduce the risk of losing all your money at once, divide your cash and cards between different pockets or bags. 

Scatter them within your wallet, day backpack, and even stash some away in a secret compartment within your big backpack or suitcase. 

Ever thought of tucking some inside your toiletry bag or even within a sock?

This way, even if the unthinkable happens and your wallet gets lost or stolen, you’ll always have some backup cash. 

 I learned this lesson firsthand in Cambodia during a rather eventful river crossing. Thanks to having my cash spread out, I still had some funds left to safely make my way back to the hotel.

Use a Money Belt and Hidden Pockets. 

Invest in a good quality money belt or clothes with hidden pockets to keep your cash, cards, and important documents safe and secure.

This allows you to carry some cash in your wallet for easy access, while the bulk remains safely hidden beneath your clothing, away from prying hands 

For those fellow solo female travellers seeking both functionality and style, Backpacking Bananas offers some great aesthetic choices. Click here for more details 

4. Travel Light: Don’t Carry Too Much Cash

When it comes to travelling to Asia with cash, the rule is simple: only bring the cash you´ll need for the day. 

Now, don’t get me wrong, Asia’s generally super safe for us travellers but a bit of caution goes a long way.

No need to show off big amounts of cash, especially in busy markets or crowded places – that’s just an open invitation for pickpockets!

Plus, by leaving some of your cash behind, you´ll avoid those impromptu spending sprees at the local market stalls. Believe me, they’re hard to resist!

Lock up your money

Secure your stash! Don’t forget to bring a padlock for your suitcase or make use of the hotel safe. You definitely don’t want to leave your hard-earned cash lying around!

5. Be Aware of Tourist Traps

Watch out for those tourist traps! It’s no surprise that in popular tourist spots, prices for goods and services can be a tad inflated. 

When you find yourself in such areas, try your hand at some negotiation or better yet, take a stroll through nearby streets.

You’ll be surprised at the wallet-friendly options you might discover!

And here’s a pro-tip: do your research! Take a little time to familiarize yourself with the usual price ranges.

After all, who wants to pay double for a Balinese massage? Definitely not you!

6. Use ATMs Wisely

When it comes to navigating Asia with cash, local ATMs are your best bet. They offer a super convenient way to withdraw the local currency without having to carry a small fortune in your pockets. 

In big cities like Tokyo or Seoul, ATMs are pretty much everywhere. You’ll even stumble upon them in convenience stores like 7-Eleven and Family Mart. 

However, in more remote locations, finding an ATM can be a real challenge. In fact, some remote islands or villages may not have a single ATM in sight.

So, for those off-the-beaten-path destinations, make sure to load up on cash ahead of time, and you’ll be all set!

Extra tip: Notify your bank of your travel plans to avoid having your cards blocked due to suspicious activity. 

Feeling lost with ATMs and Asia travel cards? Check out this full post.

7. Always Bargain when Travelling Asia with Cash

Bargaining is completely normal and almost expected in many Asian countries, especially in local markets, small shops, and with tuk-tuk drivers.

It’s all part of the local culture, so don’t be shy to haggle for a better deal.

Keep in mind that, even if you end up paying half or less of the initial asking price, it’s still likely more than what locals would pay.

That’s okay; it’s all part of the experience and a fantastic way to dive into the culture.

Just a heads-up, though. Bargaining isn’t a big thing in larger malls, luxury shops, or chain stores. They usually have fixed prices, not much wiggle room.

No harm in trying, but don’t be surprised if it doesn’t work.

And always, always keep it respectful and friendly. No need to act like you own the place!

And if you can’t agree on a price, don’t be afraid to walk away. Happy haggling!

8. Carry a Mix of Bills for Daily Expenses

When you’re out exploring Asia, make sure you´ve a mix of bills in your pocket. 

Those smaller denominations are perfect for everyday expenses like grabbing street food, using public transport, or even just getting a cup of coffee.

Besides making life much easier, they can also help you avoid some tricky situations.

There are times when street vendors or tuk-tuk drivers might claim they can’t break larger bills, hoping for a little extra.

So, having exact change can definitely save you some money!

9. Beware of Counterfeit Currency

Keep an eye out for fake bills, especially the larger ones, as they can be a bit of a headache in certain parts of Asia.

 Before you go, do a quick check on the local currency, its security features, and the exchange rates.

And always, always double-check the bills you get and count your change, especially in busy markets or crowded spots.

You never know when a mistake might happen, so stay sharp!

10. Always Carry Some USD

Don’t forget to bring along a small amount of U.S. dollars when you’re travelling through Asia with cash, even if you are from another country. 

USD are welcome in many places and can be useful as a backup for emergencies. 

Plus, in some countries in Southeast Asia, like Cambodia and Laos, you may need USD to pay for visas on arrival.

Extra Tip: If you’re heading to Cambodia, make sure your USD bills are in perfect condition—brand new and free from wrinkles or tears—or they may not be accepted.

11. Download a Currency Converter App

One of my Asia travel essentials is a currency converter app. This handy tool helps me stay up-to-date with exchange rates, making sure I always know exactly how much I’m spending in my home currency (in my case, euros!).

Trust  me, it’s saved me from overspendig on souvenirs more times than I can count!

12. Use Reputable Money Exchange Services

Let me share a little story from my journey in Ninh Binh, Vietnam.

Picture this: One evening, I found myself with no cash to pay for my tour, and the nearest ATM was a 20-minute walk away in the pitch-dark night.

Not the adventure I had in mind!

So, I had to exchange some cash at a random local shop, and, well, let’s just say I ended up paying nearly double what it was worth. Lesson learned the hard way! 

But hey, you don’t have to go through that. Learn from my mistakes!

Plan your money exchange in advance and always use reputable currency exchange counters. 

Avoid street vendors or unlicensed exchange operators to steer clear of potential scams and unfair exchange rates.

Confused about exchange rates? Let’s finally clear things up! – read this post!

13. Keep an Eye on Currency Restrictions 

Knowing the local currency regulations is a key part of prepping for your next adventure, especially if you’re traveling Asia with cash.

Different countries may have their own set of rules about how much cash you can bring in or take out.

For example, in China, there’s a cap of 20,000 Chinese yuan (CNY) or about $5,000 USD that you can bring into the country without declaring it.

Understanding these rules ahead of time can help you avoid any legal complications during your trip.

After all, no one wants to find themselves in some random airport office trying to explain themselves!

Always stay informed when venturing through Asia with cash!

14. Familiarize Yourself with Local Payment Methods

Every Asian country has its own unique customs and preferences when it comes to handling transactions.

For example, in tech-savvy Japan, it’s still considered polite to pay in cash at smaller shops and restaurants.

Meanwhile, Singapore fully embraces cards, even at humble hawker stalls. 

And in India, Paytm and other similar apps have gained massive popularity and now cover everything from groceries to rickshaw rides. 

So, before  you leave for your Asia trip, take a moment to learn about the preferred payment method of your specific destination.

 It’s a great way to blend in and ensure your transactions go off without a hitch.

15. Embrace Local Etiquette

Lastly, always show respect for local customs and traditions, especially when it comes to dealing with money. 

 In some cultures, it’s considered disrespectful to hand over money with your left hand or to point your feet towards currency. 

In others, it might be common to use both hands when exchanging money or to place it on a tray during transactions.

To avoid any cultural misunderstandings, be respectful and take the time to learn the specific rules of the country you’re visiting.

And if you’re ever in doubt, simply observe what the locals are doing and follow their lead! 

Extra Tip: While there aren’t strict rules about tipping in Asia, it’s always a kind gesture to give something to a service provider doing a good job. 

Leave a Comment: Share Your Tips!! 

So, there you have it – 15 tried-and-true tips for traveling Asia with cash. 

By following these tips, you can explore freely, knowing your finances are in good hands.

Now it’s your turn! Have you travelled in Asia and discovered any other money management tips?

Or perhaps you have a question you want to ask? 

Don’t be shy, drop a comment below and let’s chat! Happy travels! 

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