When you're travelling home for Christmas, it’s only natural that your thoughts are focused on seeing your family and friends and enjoying everything the festive season has to offer. It’s important to remember not to let your guard down while on holiday, as this could put your hard-earned money at risk. Fortunately, you can do a few things to keep your cash safe while travelling.
If you’d like to learn more about the risks of carrying cash, why it’s better and safer to travel cashless and how to send money easily from your phone instead, our handy guide below includes everything you need to know.
With the festive season fast approaching, the risks involved with carrying large amounts of cash may put you at risk. Often people carrying cash are seen as an easy target. Some of the risks of carrying cash include the following:
1. Carrying cash may make you an easy target for thieves
We don’t recommend drawing large sums of cash from the ATM as it may increase your risk of being targeted by thieves. They are known to target individuals who are seen drawing out large amounts of cash at local ATMs putting yourself and any loved ones you are travelling with at risk. Without the need to manage any physical cash, it will help to reduce your risk of being a victim of theft or robbery.
2. There is a possibility of physically losing the money
Drawing cash and keeping it with you may also increase your risk of accidentally misplacing it. Losing physical money can become a hassle as there is no way you can cancel any transactions in the same way you can block your card when lost. There is also no way of ensuring you may get it back as with a card will include your personal details and the name of your bank.
3. There is no fraud liability guarantee with physical cash
Another risk of carrying physical money when you are travelling this festive season is that cash does not come with a zero-fraud liability guarantee. Using a credit card offers the opportunity to contest a purchase, and in most cases, you will be entitled to receive your money back. With cash purchases, the process is complicated and lengthy, and there is no guarantee that you will receive your money back should the item be faulty.
1. Most online payments have security features set in place
Did you know that most digital payments today come with security features fitted to help lower security risks and instances of fraud? For example, using your debit card to purchase an item may include a standard purchasing limit. Any purchases that are above the purchasing limit will request your pin number to be entered to complete the transaction.
2. Online payments are easier to track expenses
One of the best ways of budgeting is through tracking expenses. This helps to determine where your money is going and highlights a record of your purchases. Paying online using a credit or debit card records all transactions, fees, and charges. This helps when looking to track your expenses as you can easily see where your money has been spent and offers insight into your spending habits.
4. Contactless payments are more convenient than cash payments
One of the advantages of paying with a card is that you will no longer need to physically carry around large sums of cash. This also reduces the time spent waiting in line at an ATM to make a withdrawal. Paying with a card also ensures a quicker transaction than counting out the cash when making a purchase.
5. It helps to lower your risk of theft
There is a lower risk for your money to get stolen when using card payments over cash. If it were to get stolen, there is no way to retrieve your money, while with a debit or credit card, you can freeze any transactions from taking place. Any attempted transactions on your stolen card will be blocked, and no funds will be deducted from your account.
6. It’s less eco-friendly to use cash
Unlike cash made from paper, debit and credit cards help to make our environment cleaner and healthier. If everyone were to rely on using cards and online payments instead of cash, it will help to reduce the amount of paper used by society, and fewer trees will be cut down as a result.
Are you travelling home for Christmas this festive season? Whether you're looking to travel abroad or want to send money easily from your phone, Mama Money offers the easiest way to send money to your loved ones abroad.
Our handy mobile app allows you to send money easily from your phone to over 50 countries located all over the world. If you're based in South Africa and would like to send money to a family member or friend based in Africa, Asia, or Europe, simply use Mama Money.
We offer an easy, affordable way to transfer your money from South Africa simply by downloading our app.
Simply register an account by visiting your nearest Mama Money agent or sign up for an account on your mobile phone by completing these easy steps below:
Once your documents have been submitted using the Mama Money App, your account will be verified within 24 hours, and you can start sending money abroad to your loved ones this festive season.
To send money locally or internationally using Mama Money follow the steps below:
1. Login to the Mama Money App and select ‘’Send Money’’
2. Choose the recipient to who you are sending money
3. Enter the amount you would like to send and press ‘’Next’’
4. Select your preferred payment method and press ‘’Confirm & send’’