The Core Setup
Most slow travelers keep their primary banking relationship in the US and layer travel-friendly tools on top, rather than opening full local bank accounts for a temporary stay (that's more of a moving-abroad step, covered conceptually on the Slow Travel vs. Moving Abroad page).
Common Tools
No-foreign-transaction-fee credit cards. The simplest lever — many cards eliminate the 1-3% foreign transaction fee that erodes spending power on every purchase abroad.
Low-fee international transfer/multi-currency accounts (Wise and similar services are commonly used). Useful for holding multiple currencies and avoiding poor bank exchange rates when paying rent or larger bills in local currency.
ATM fee awareness. Some US banks (Charles Schwab's checking account is a commonly cited example) reimburse ATM fees worldwide — worth checking before a long trip, since ATM fees compound quickly with regular cash withdrawals.
Cash vs. Card Habits by Destination
This varies significantly by country and even by city within a country — some destinations are heavily card-based, others still run substantially on cash, especially for smaller vendors, markets, and rural areas. Check destination-specific notes before assuming either extreme.
A Few Practical Safeguards
- Notify your bank/card issuer of international travel dates if your bank still requires or recommends this
- Carry at least two independent ways to access money (e.g., one card plus a backup card or cash reserve) in case one is lost, stolen, or blocked
- Keep a small emergency cash reserve in a separate location from your primary cards
Where to Go Next
→ Transportation and Walkability — the next practical logistics category.