Travel experts settle debate on how much cash you should take on holiday | Personal Finance | Finance

Thanks to the widespread use of contactless cards, mobile wallets, and pre-paid travel cards, travelling with cash is less common.

Martin Newman, author and financial expert, explains: “Cash is far less essential for travellers today. Most destinations accept cards and digital payments”

However, it’s still important to know how much cash you can legally travel with, and the rules around declaring large sums to avoid problems at customs.

Martin advises that you “carry a small amount of local currency – about £100 to £150 – to cover essentials like taxis, tips, or markets.”

He adds that the smartest approach is balance – rely primarily on cards and mobile payments for security and convenience, while keeping a modest cash buffer as a safety net in case of emergencies or places that don’t accept cards.

In the UK, if you are entering or leaving the country carrying £10,000 or more in cash, you must declare it to customs.

James McCaffrey, finance expert at TotallyMoney explained: “ “If you don’t declare the money, it could be seized, and you might have to pay £5,000 to get it back.”

This includes all forms of cash – from banknotes and coins to traveller’s cheques and prepaid cards loaded with funds.

It’s a common misconception that this rule applies only to individuals; in fact, if you’re travelling as a group or family and the total cash carried by everyone is £10,000 or more, you’ll still need to declare it.

Failing to declare the required amount can result in delays and the need to prove where the cash originated from. You can declare your cash online up to 72 hours before travelling, or directly at the border. Being prepared ahead of time helps avoid unnecessary hassle.

James also warned of another important factor to consider when travelling with large sums of cash: “Carrying large amounts also puts you at risk of theft. Instead, topping up a current account with no foreign transaction fees might be safer for holiday spending.”

Ultimately, the key to travelling with cash safely is preparation. Know the limits, declare when necessary, and use digital payment methods when you can. This keeps your money secure and your travel experience hassle-free