OK My experience as a former police officer is that unless you can afford to loose it don't carry it. Unfortunately I have met many, in fact almost all those who been reporting having been pick-pocketed, who have said, ' I never thought it would happen to me." But it did that's why they were talking to me, and it does happen quite often..
As for experience of being stopped carrying more than permitted by law, you will correctly assume I have never done so. If I did I would not have been surprised to have been stopped, the money confiscated and to be prosecuted. But, clearly it's entirely your choice.
Incidentally , I don't have a bank account either, only building society accounts, but I have never experienced any problem using ATM and or transferring money in several countries over many years.
Any way, Good luck, I hope you don't, but you may need it !!!.