Travel Tips?? HELP NEEDED :(

[Alba]

Hey guys! Well, in 6 wks I will be off to the USA. As the dollar is lookin pretty sweet right now I was thinking of changing 3/4 of my cash over now.. but not as cash or cheques cause I don't wanna have that kinda cash on me. Does anyone know a card that I can get that has low fees? I was thinking TRAVELEX, but their exchange rate is lower and I don't really know how this works?? My friend who is in Canada told me about the Wizard Mastercard but I can't find anything on it.. I can find info on it but no APPLY NOW tabs.. Ideas would be muchly appreciated as I've never gone overseas before and I am absolutely packing it! TA

LOVE LOVE xoxoxo

 

[Eelementary]

You mean like a credit card? Something like:

http://www.click4credit.com.au/credit-cards/nab-low-rate-visa.php?

 

[Alba]

I have a credit card.. But I want a card that I can withdraw my cash out of over there.. and put it in the account now so it changes to US$ straight away

 

[Eelementary]

Ah gotcha.

*Runs off giggling like a school girl to Google teh anserz*

 

[Different kind of Rabbit]

I don't think that such an animal exists. My understanding is that the only way to change your money over is to cash it in or buy travellers cheques. I don't think you can "forward cover" your currency in a credit card. Best advice would be to go and have a chat with someone at whatever bank you use. They would have the best info.

 

[JessEel]

L,

When you go to an ATM, you withdraw whatever currency you're in (Euro, Fijian Dollar, US Dollar) from your own funds.

When i was in Europe i used my Visa Debit Credit Card to access my own cash (there were slight fees, but nothing over the top, and the exchange was similar to anything you could find over there) and used a Wizerd Clear Advantage Mastercard for emergencies.

http://www.wizardclearadvantage.com.au/

Good Luck! If you wanted to know anything else gimme a buzz on Facey..

 

[abpanther]

I don't think that such an animal exists. My understanding is that the only way to change your money over is to cash it in or buy travellers cheques. I don't think you can "forward cover" your currency in a credit card. Best advice would be to go and have a chat with someone at whatever bank you use. They would have the best info.

This is correct, I travelled to the USA about a month ago and this was what I found.

The credit card and EFTPOS fees are very frustrating, not really any way to get around it.

 

[Different kind of Rabbit]

Another thing to remember is that with a Credit card, you can sometimes get stung by the exchange rate later down the track. The card provider doesn't use the rate on the day that you make a purchase, but rather the rate on the day that they produce your statement. You could be buying something thinking that the rate is good on the day of the transaction only to find that up to 30 days later when your statement is produced, the rate of the day is much worse.

I'm going off to Europe in September and instead of getting a Credit Card, I've decided to go with a personal loan into my Debit Visa account. The interest rate on the personal loan is less overall and the fees and charges around my debit visa are less than a credit card.

 

[Alba]

so noone knows anything about Travelex?

 

[madunit]

withdrawing cash from a credit card always attracts a lot of fees even in australia.

Get however much cash you may need transferred here and then use your credit card for purchases when over there.

 

[madunit]

so noone knows anything about Travelex?

best bet is to give them a call, you'll get a faster and more accurate answer from them than you ever will from a website

 

[JessEel]

withdrawing cash from a credit card always attracts a lot of fees even in australia.

]

Even a Visa Debit card? Cos seriously, i wasn't that hard done by in Europe, and i wouldv'e withdrawn every week or so for 8 weeks..!

 

[Different kind of Rabbit]

so noone knows anything about Travelex?

Only that they trade currency. I wasn't aware that they provided any type of Forward Cover, which is sort of what you are referring to. By Forward Cover I mean, locking in an exchange rate now so that you can make exchanges at that rate later. I don't think that Forward Cover exists for retail buyers. It does however exist for large companies that trade between countries.

Buying currency can be a bit confusing. You will never achieve the type of exchange rate that you see on the news as there are a number of different rates around. From memory, the News quote the Wholesale rate (which is what the currency traders pay). What you will be getting when you make an exchange is the retail rate so you will always be at least a few cents worse off than what you see on the News.

Like all retailers, Currency traders rates vary from provider to provider as they all have different margins. You will obviously need some cash money so shop around and exchange some money before you go. Leave the rest in your bank account and just let the bank do the exchange for you as you withdraw it o/s. If you decide that the rate today is as good as its going to get and think that perhaps the currency may drop considerably by the time you go on your trip then you can buy some travellers cheques. Thats the only way I am aware of to "forward cover" as such without converting all your money to cash.

 

[madunit]

]

Even a Visa Debit card? Cos seriously, i wasn't that hard done by in Europe, and i wouldv'e withdrawn every week or so for 8 weeks..!

Debit cards are a bit different to credit cards though aren't they? I'm not sure about them.

I didn't get any fees on my American Express card while in NZ but a friend of mine got fees on his mastercard, go figure.

 

[JessEel]

i think the fee was $2.50 per use for me - which i didn't mind when it was SOO MUCH safer to just use my usual card and my own cash (no credit debt)

 

[Eelementary]

I have a VISA debit card. I love it.

/off topic comment

 

[JessEel]

I have a VISA debit card. I love it.

/off topic comment

i wouldn't be able to survive without mine!

 

[DRAGONZ_RULE]

LOVE LOVE xoxoxo

I take that as being directed exclusively to myself.

I thank you for your kind-hearted and loving gesture. I have loved you from the day I set eyes on your moniker, and I will love you always.

In return, I favour you with this reply:

Please don't go to America, whatever you do. I had visions of three kids, a two storey house in Vaucluse, and an in-built aquarium under the floor of the the dining room. Chicks dig that. Especially if it has lots of bright-coloured fishies.

But, if you don't wish to meet me in the middle, I'm afraid I can't help you.

Except to say that you should try to take a dump on the White House Lawns. I think Michelle Obama is teaching kids how to grow tomatoes and other such things there, so she will probably welcome your assistance in producing high-quality fertiliser. I've heard that human waste provides that extra little bit of zing to the Roma tomatoes which only the best Italian pizza/pasta restaurants can provide.

I hope I haven't let their secret (and ours) out of the bag

 

[Alba]

I take that as being directed exclusively to myself.

I thank you for your kind-hearted and loving gesture. I have loved you from the day I set eyes on your moniker, and I will love you always.

In return, I favour you with this reply:

Please don't go to America, whatever you do. I had visions of three kids, a two storey house in Vaucluse, and an in-built aquarium under the floor of the the dining room. Chicks dig that. Especially if it has lots of bright-coloured fishies.

But, if you don't wish to meet me in the middle, I'm afraid I can't help you.

Except to say that you should try to take a dump on the White House Lawns. I think Michelle Obama is teaching kids how to grow tomatoes and other such things there, so she will probably welcome your assistance in producing high-quality fertiliser. I've heard that human waste provides that extra little bit of zing to the Roma tomatoes which only the best Italian pizza/pasta restaurants can provide.

I hope I haven't let their secret (and ours) out of the bag

LOL.. crazy little kitten..

OK so I found out that Travelex doesn't do the forward cover as you call it. Whoever told me they did must've dug too heavily into the suspicious cookies on the table. BUT, I went to the bank today to ask if they did anything like that and the lady told me they don't but ANZ does. So I'm gonna look into that. I also changed my savings to a VISA Debit but it's a $5.00 fee every time I withdraw money out over there + a certain percentage for the currency conversion. 6 weeks from today I am off I'm so excited!

 

[Solid]

Some places charge a commission fee, while others don't, but have lower rates.

Good time to travel financial wise, Dollar is at an 8 month high.