Money for loop

[regb]

starting our Loop Feb 28 from Biloxi MS I know a lot depends on how big boat is and fuel but was wondering a ballpark of how much Cash we would need to carry we have cards but what about cash?
Thanks Reg

 

[seasalt007]

We use a large nationwide bank with ATM's everywhere so did not to carry much more than normal. B of A, Chase, Wells Fargo....

 

[Ski in NC]

I have taken several one month trips, and usually bring about $1k in cash. When I get back, I usually have spent just a couple hundred. Mostly carry it if for some reason the cards stop working, want to be able to buy enough fuel to get home. But if there is a widespread problem with cards not working, there is a whole lot more to worry about!!!

 

[No Mast]

I don't know you'll need any more cash than you use in your daily landlocked life.

 

[Jeffrey S]

We probably took $500 in cash. After we completed the loop, I think we had $400 left.

 

[BandB]

I carry enough cash for tips basically and that's pretty much it.

 

[FF]

Fuel will be on plastic as will be marinas and dinner ashore.

The Canadians charge to visit their canal system , and also if you wish to tie up to their lock entrance, they take plastic too.

AS ID theft is a problem world wide , we prefer to use an ATM to get cash , and to pay as much as we can with cash.

 

[jleonard]

I like cash for smaller purchases, so we had $1000 or so for our summer in the Trent Severn and up to the North Channel and back.
The toughest part was estimating how much Canadian money to get. We kept having to go find a bank to exchange. One or two of them gave us a hassle because we were not regular customers.
I would suggest converting a large number in Kingston, or whatever large town you first get to. Will make your life easier IMO.

When we left Canada on our Trent trip, we exited via the Murray Canal where you have to pay $5 Canadian to go thru the swing bridge. We scraped all the coins we had left and were a little short so I put a couple of granola bars in a ziplock bag along with the coins and dropped it into the cup.

 

[psneeld]

Let's see who admits to I having $50,000 on board and then see if they are posting I the remote destination thread...

I just had an experience where I thought I had left my wallet on the dock masters desk and left the next morning without checking for it as I haven't ever lost a wallet. It tuned up in my briefcase but had slid and hid for a bit.

My big concern was based on location, upcoming need for fuel and hearing the drama my crew was going through after her bank called and said they were cancelling her card due to one of the recent retailer hacks. It took over 2 weeks for the bank to get it together and get a card to her on our trip....their mailing requirements and being on the move didn't help.

My cut is... thankfully I had enough cash on board to get fuel, get to someplace that would be a reasonable place to get a card to me easily, and pay cash along the way.

Doesn't have to be a lot...but enough depending on any particular set of circumstances.

While I agree with almost total card use ....I have lived through several times where having some cash made a difference.

Having people on board that can cover the situation or having people elsewhere to help can cut down the probability you may ever need cash....but ya never can coverall the bases all the time.

 

[Donsan]

... and hearing the drama my crew was going through after her bank called and said they were cancelling her card due to one of the recent retailer hacks. It took over 2 weeks for the bank to get it together and get a card to her on our trip....their mailing requirements and being on the move didn't help.

This situation is happening all too often nowadays. It has gotten me rethinking my single credit card strategy. Absolutely hate having a wallet full of plastic but you never now when a retailer is going to give your personal information away.

 

[Marlinmike]

That's a great story of the granola bars, could see their faces on that one, "cheap american's" ;-)

I like cash for smaller purchases, so we had $1000 or so for our summer in the Trent Severn and up to the North Channel and back.
The toughest part was estimating how much Canadian money to get. We kept having to go find a bank to exchange. One or two of them gave us a hassle because we were not regular customers.
I would suggest converting a large number in Kingston, or whatever large town you first get to. Will make your life easier IMO.

When we left Canada on our Trent trip, we exited via the Murray Canal where you have to pay $5 Canadian to go thru the swing bridge. We scraped all the coins we had left and were a little short so I put a couple of granola bars in a ziplock bag along with the coins and dropped it into the cup.

 

[psneeld]

This situation is happening all too often nowadays. It has gotten me rethinking my single credit card strategy. Absolutely hate having a wallet full of plastic but you never now when a retailer is going to give your personal information away.

Plus the wallet full of plastic has to be with you.

 

[Pgitug]

We found that your card company can cancel your card due to a fraud problem. The new card must be sent to your home address. If not the replacement card is a temp. For this reason we bring two Charge cards, always leaving one on the boat. Plus $1,000.00 cash. Four trips up the east coast from Florida to RI and back, the system has worked well.

 

[psneeld]

We found that your card company can cancel your card due to a fraud problem. The new card must be sent to your home address. If not the replacement card is a temp. For this reason we bring two Charge cards, always leaving one on the boat. Plus $1,000.00 cash. Four trips up the east coast from Florida to RI and back, the system has worked well.

Wells Fargo just mailed a permanent card to other than a home address...they just couldn't change the name line so we had it mailed to a branch in Savannah and picked it up there.

 

[BandB]

Wells Fargo just mailed a permanent card to other than a home address...they just couldn't change the name line so we had it mailed to a branch in Savannah and picked it up there.

They will send to any branch. Just won't mail to a remote personal location.

We carry multiple cards for the reasons mentioned above. All of our cards combined we've been through a total of 5 cancel and reissues, all defensive and protective measures. Had used a card at Target. Cancelled. Had used a card at Home Depot. Cancelled. Didn't have a fraudulent charge on either. One other time was the credit card processor was compromised. Then twice have been those odd little tests that the thieves do. They get authorization for a penny or a dollar. Often it's a random effort with made up card numbers and just happens to match. The test is to see if the number is valid before trying to use it. Once the authorization goes through then they'll charge on it so have to cancel it before they can. So no losses but disruption.

One thing we do too is we don't use the cards we carry for any monthly bill payments like electricity, water, phone, insurance. We have a separate card that is only used for those items.

 

[BandB]

As part of the cash issue. FUEL. We've found, especially on large quantities, substantial discounts for cash. Now, much to our surprise we've found most of the places would accept checks and give the discount. The penalty for cards is often $0.10 per gallon. When fuel prices were higher that made sense but now that's 3%.

 

[Shrew]

Cash???? What is this 1955? Next it'll be how to survive without a landline, or how to rig a mailbox off the handrail for the postmaster. Debit cards are accepted everywhere and are as good as cash (with the exception of anyplace that is giving a discount for cash over credit). Withdraw some 'walking around' money via ATM's on a weekly basis, or less if you don't want to get hit with fees. I'd use a large widely accepted bank like Bank of America and search out their ATM's to avoid withdrawel fees.

I do carry maybe $200 bucks, just in case you find a small restaurant that is cash only.

If it's under $20 then use cash, anything more and use the debit card. Besides using a debit card allows you to really control and analyze spending.

 

[meridian]

Discover card is not used in canada or the Bahamas.

 

[FF]

>If it's under $20 then use cash, anything more and use the debit card. Besides using a debit card allows you to really control and analyze spending.<

Purchasing anything with a Debt card does NOT get the same consumer protection or warentee as using a bank credit card.

Great for a pizza , much ungood for a VHF , TV or washing machine.

ATM in Canada pay in CN dollars , and the exchange rate is frequently better than the local bank, and Far better than local merchants will give.

In countries like Argentina , the locals will frequently pat 50% to 100% over the posted dictators rate , but Canada is just fine so far.

 

[jleonard]

And you also should be calling you credit card company to let them know you are going to be in Canada. I know people who were cut off only because they didn't call or return the card company's calls.

 

[Jeffrey S]

I'm shocked at the credit card concerns. To be honest, the world is already moving past credit cards and way past cash. Am I the only person who has bought something with ApplePay here? I can't wait until I no longer pay with credit cards. Cash? It's like a rotary dial phone.

For 12 years we've only used credit cards onboard. In the Bahamas, yeah, you need more cash. But ignoring that and looking at US east travel? No way.

Sure, we've had fraud use issues cancellations - never cost us a penny. We've had cards cancelled - about one per year. So we carry about 4-5 cards.

We've had purchases returned because of non-delivery - credit cards are great at being on your side in a transaction. You also get extra insurance for car rentals on some credit cards. But there, no rental car company will even take cash when you check in.

There are ATM's everywhere although, again, we never use them. We are loading up on cash right now because Great Harbour Cay in the Berry Islands has no credit card abilities. I hope I remember how to use my ATM card to get cash over the next three weeks. I think I'd die if I had to actually walk into a bank.

We purchase fuel for "cash" about 25% of the time. In 12 years, I've never given out real cash. Every facility takes a check. You have to make a calculation though - almost all of our credit cards give back 1-2% so a $0.05 discount on cash can be easily a bad deal when I'm getting $0.08 back on $4/gal fuel at times.

ApplePay, etc = cellular
Credit Card = landline/push button
Cash = landline/rotary

We're way past cash and there's no reason to go back.

 

[Donsan]

I'm shocked at the credit card concerns. To be honest, the world is already moving past credit cards and way past cash. Am I the only person who has bought something with ApplePay here? I can't wait until I no longer pay with credit cards. Cash? It's like a rotary dial phone.

Ha ha. I don't disagree on ApplePay but I do wonder how long it will take marinas to catch up to this tech. I remember a marina I used to deal with who accepted checks but not credits cards and then they would take 90-120 days to cash the check. I had to beg them to cash my checks. Honest!

The same applies to other mom and pop businesses we would normally like to frequent and are clueless about Near Field Communications (NFC).

Then there are the big retailers like Walfart that refuse to accept it because they are working on a competing system so they don't have to pay credit card swipe fees.

Sorry but landlines and rotaries are going to be around for some time to come.....sigh.

 

[siestakey]

I'm shocked at the credit card concerns. To be honest, the world is already moving past credit cards and way past cash. Am I the only person who has bought something with ApplePay here? I can't wait until I no longer pay with credit cards. Cash? It's like a rotary dial phone.

For 12 years we've only used credit cards onboard. In the Bahamas, yeah, you need more cash. But ignoring that and looking at US east travel? No way.

Sure, we've had fraud use issues cancellations - never cost us a penny. We've had cards cancelled - about one per year. So we carry about 4-5 cards.

We've had purchases returned because of non-delivery - credit cards are great at being on your side in a transaction. You also get extra insurance for car rentals on some credit cards. But there, no rental car company will even take cash when you check in.

There are ATM's everywhere although, again, we never use them. We are loading up on cash right now because Great Harbour Cay in the Berry Islands has no credit card abilities. I hope I remember how to use my ATM card to get cash over the next three weeks. I think I'd die if I had to actually walk into a bank.

We purchase fuel for "cash" about 25% of the time. In 12 years, I've never given out real cash. Every facility takes a check. You have to make a calculation though - almost all of our credit cards give back 1-2% so a $0.05 discount on cash can be easily a bad deal when I'm getting $0.08 back on $4/gal fuel at times.

ApplePay, etc = cellular
Credit Card = landline/push button
Cash = landline/rotary

We're way past cash and there's no reason to go back.

For work I travel 170+ days a year Latin America, Asia Europe

I use 3 different debit cards I typically even when I call all the banks have a problem with one when I travel . so I have a back up or 2

I also use foreign ATMs to minimize the exchange rate

As FF said certain countries like to stick the Gringo but if you travel to them a good deal you learn were to go

On the Loop I would think a few hundred dollars up 1k and a couple cards would be fine

 

[Ski in NC]

In my area, some of the best marine mechanics do not take plastic. They will drive you to an ATM!!

Tie up to the fuel dock and ask dockmaster about a boat problem, he has numbers for several independent mechs that each have a specialty. These guys are very good, very fast, and very reasonable. And they don't take plastic. Although I think some might be getting with it lately.

Cash still works with them.

You can call a dealer or large service company, they of course take plastic, but also have a reputation for super heavy billing.

 

[JDCAVE]

In my area, some of the best marine mechanics do not take plastic. They will drive you to an ATM!!

Tie up to the fuel dock and ask dockmaster about a boat problem, he has numbers for several independent mechs that each have a specialty. These guys are very good, very fast, and very reasonable. And they don't take plastic. Although I think some might be getting with it lately.

Cash still works with them.

You can call a dealer or large service company, they of course take plastic, but also have a reputation for super heavy billing.

Yup! Boat repairs in "Middleofnowhere" BC. All cash.


Jim
Sent from my iPad using Trawler Forum

 

[BandB]

>
Purchasing anything with a Debt card does NOT get the same consumer protection or warentee as using a bank credit card.

Great for a pizza , much ungood for a VHF , TV or washing machine.
.

We learned that years ago as well. Not even the same fraud protection. So what we started doing long ago was using a credit card and then paying it weekly or even more frequently. We'd go online, see the charges that had cleared and then transfer the money. Really helps credit ratings too. You pay well so they increase your limit but you never owe much so your percentage of available credit used is minimal. The other huge negative on debit cards is that if there is fraud, before you realize it the money is gone from your bank account so you're out that money until it's restored. Credit card fraud you just simply show owing the money. Your card may be restricted briefly but you're not actually out money. Plus debit card fraud can cause your checks and drafts to all bounce.

 

[BandB]

Sorry but landlines and rotaries are going to be around for some time to come.....sigh.

Where? What? No, Seriously...lol

As to rotaries, I don't think so. I know our phone company discontinued them decades ago. They would not work with the new technology.

 

[No Mast]

Sounds like a good idea:

what we started doing long ago was using a credit card and then paying it weekly or even more frequently.

 

[Donsan]

Where? What? No, Seriously...lol

As to rotaries, I don't think so. I know our phone company discontinued them decades ago. They would not work with the new technology.

This was in response to a post equating plastic credit cards to landlines and cash to rotaries. The point was plastic cards and cash are going to be around for awhile yet. Bitcoins anyone???

 

[BandB]

This was in response to a post equating plastic credit cards to landlines and cash to rotaries. The point was plastic cards and cash are going to be around for awhile yet.

Well, the sentence written was false so doesn't contribute to your point, in fact the opposite.