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best way to take money

10 Apr 2010 Kristy said

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What's the best way to take money? Travellers cheques? Debit cards? It's my first time so i'm not really sure... Smiler
  • 11 Apr 2010 lizzie said

    lizzie

    hey Im taking some cash.. and then a credit card and a debit card. I use a Nation Australia Bank (NAB) Gold card u pay $10 fee per month unless u deposit 5000 a month into the account but according to the bank (and friends who have previously used this card) u pay no withdrawal fees at atms, conversion fees or fees when using it for a purchase.

  • 11 Apr 2010 cdm115 said

    cdm115

    I only take travelers cheques as a back up form of currency, I can get them for free from my bank so it doesn’t cost me anything.

    Otherwise I use an ATM and my credit card.

  • 12 Apr 2010 NaHdz said

    NaHdz

    Travelex Cash Passport all the way! You can get them in Travel Agents, banks or the post office. I know the post office charges about 1% of whatever you load, some Travel Agents only charge a fee of about $20 to set it up for you.
    It’s a great way to carry your money though, it’s only a $3.75 fee each time you take out money and it’s not linked to any of your accounts back home..it’s very very easy and alot cheaper then using your credit card.

  • 12 Apr 2010 ptooma said

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    Coming from the US, I’m w/ Crissy – ATM & Credit cards.

    In #3 from my suggestions Before You Go :

    # I brought 2 ATM cards; one was my regular ATM card which I had as backup hidden deep in my suitcase just in case an ATM machine felt hungry or otherwise.
    # The second ATM card is linked to a new second checking account I requested from my credit union specifically just for this trip. I transferred my budgetted spending money for the entire vacation in this second account. Both cards have different PINs.

    And if you can snag one, if you’re from the US, Charles Schwab Visa Credit Card has no foreign exchange fee and also gives you 2% cash back on all your purchases (deposited monthly into Charles Schwab brokerage account).

    - Vic

  • 13 Apr 2010 Trent said

    Trent
    quote:
    Originally posted by NaHdz:
    Travelex Cash Passport all the way! You can get them in Travel Agents, banks or the post office. I know the post office charges about 1% of whatever you load, some Travel Agents only charge a fee of about $20 to set it up for you.
    It’s a great way to carry your money though, it’s only a $3.75 fee each time you take out money and it’s not linked to any of your accounts back home..it’s very very easy and alot cheaper then using your credit card.


    I’ve gone this route.. worth mentioning, once your tour is confirmed and you get your documents, and do an “online” checkin, you can load up/order a Travelex Card through the Contiki special offers, with a 0% fee…
  • 13 Apr 2010 Amy Cheverton said

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    she06 are u with ANZ??
    i am thinking about getting a travellers card with anz but im not to sure
    if u have used it did u have any problems?

  • 13 Apr 2010 AstroPhys said

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    For anyone coming over from the USA look into the charles schwab ATM card. They have locations in most all major cities.

    They do not charge a foreign ATM, they will refund you any fee that another bank will charge, and they also give you the daily exchange rate with nothing added on.

    Capital one is the best credit to use as it does not charge the 1-3% fee to use it overseas, and it gives you the daily exchange rate. If you go anywhere that will let you pay with a credit card, always pay with your credit card. It will protect you from unauthorized charges.

  • 15 Apr 2010 James K said

    James K

    Guys, you gotaa be stupid if you don’t go with Travelex cash passport. Contiki also offers a free set-up where you don’t have to pay a cent to start the account. Just click on “perks” on the main contiki website and follow the links to travelex. Best way to take money overseas, only about $3 to take money out from an ATM and FREE to make purchases with it.

  • 15 Apr 2010 ptooma said

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    James K – before making such a bold statement,
    may want to double check the fine print before making such a claim.

    From a US perspective travelling to Europe, if you purchase foreign funds card, then you get whacked at the beginning with an exchange fee, smacked in the middle with an ATM withdrawal fee, and at the end with an account closing fee ($20US) + the exchange fee at the end back to US$. If you want to keep it open, then there’s a €2.30 monthly maintenance fee after 1 year of inactivity.

    But say you want to purchase US$ instead so you don’t have the second exchange fee at the end when you close out your account. If you use it to make purchases, then you are dinged 5.5% ABOVE the prevailing exchange rate. You are still stuck with the $20 close out fee.

    I know my credit union only charges 1% over the prevailing rate for international ATM withdrawals and my credit card (Schwab Visa) has no foreign exchange fees when I make purchase and they also give me 2% cash back.

    quote:
    Section 3. FEES AND CHARGES.
    We may charge the following fees in the amounts indicated on the Schedule
    of Fees and Limits provided with your Card. The amount of any fee will be
    deducted form your Available Balance at the time the fee becomes due or as
    otherwise provided. All fees are assessed in the currency loaded on the Card
    and are shown in the appropriate currency column on the Schedule of Fees
    and Limits.
    Card Activation/Issuance Fees. There may be a fee each time we activate
    or issue a card.
    Monthly Maintenance Fees. After you activate your Card, there may be a
    monthly maintenance fee. This fee will be debited from your Card after any
    period of 12 months (or such longer period as may be required by law) in
    which the Card (or any additional Card) has not been used or value loaded. If
    there is no Available Balance following the debit of any monthly maintenance
    fee (provided that if the Available Balance is less than the monthly maintenance
    fee, we will waive the remainder of the fee), we will automatically cancel the Card.
    Card Load Fees. There may be a fee imposed for the initial value load made
    to your Card and a fee for each subsequent load made to your Card. The
    amounts of such fees may vary based on the form of the load transaction.
    PIN Selection Fees. There may be a fee each time you change or select a
    PIN. The amount of the fee will be deducted from the Available Balance at the
    time the fee becomes due.
    ATM Transaction Fees. ATM transactions (including withdrawals and
    balance inquiries) may be performed using your Card subject to applicable
    fees, which vary based on the type of transaction.
    POS Transaction Fees. There may be a fee each time you use your Card
    to make a purchase. The amount of such fee may vary based on the type
    of transaction.
    Cash Advance Fees. You may be able to receive a cash advance on your
    Card at financial institutions around the world subject to applicable fees.
    Card-to-Card Transfer Fees. There may be a fee each time you make a
    card-to-card transfer.
    Customer Service Access Fees. There may be a fee each time you access
    either our automated or live customer service. The amount of the fee will be
    deducted from the Available Balance at the time the fee becomes due.
    Online Access Fees. There may be a fee each time you access your
    Available Balance or Activity Report online or you request a paper statement.
    The amount of the fee will be deducted from the Available Balance at the time
    the fee becomes due.
    Lost or Stolen Card Fees. There may be fees charged for the replacement of
    any lost or stolen Card and for express delivery of a replacement Card. These
    fees will be deducted from the Available Balance remaining on the Card at the
    time a replacement Card is issued.
    Administrative Fee to Close Card and Transfer or Pay Funds. An administrative
    fee may be charged to transfer funds to another card or close your Card and
    pay you amounts remaining on your Card.
    Overdraft Fee. A fee may be imposed in the event your Available Balance has
    a negative amount.
    Returned Item Fees. A fee may be imposed for each initiated transfer of
    funds to your Card that is returned to us unpaid. Any such fee will be deducted
    from the Available Balance, along with the amount of the transfer.
    Card-on-File Fee. After you activate your Card, there may be a monthly cardon
    file fee. This fee will be waived until the expiration date on your Card.
    You may be charged additional fees or commission by the selling agent on the
    issuance or crediting of additional funds to your Card.


    - Vic

  • 15 Apr 2010 Tania28 said

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    quote:
    Originally posted by Amy Cheverton:
    she06 are u with ANZ??
    i am thinking about getting a travellers card with anz but im not to sure
    if u have used it did u have any problems?


    Hi Amy
    I am taking ANZ Travel Cards (I actually work for ANZ so know the product inside out). They cost $12 to set up, and no charges for using in eftpos facilities. ATM Withdrawls cost €2.00 in Europe and £1.50 in pounds. (I have got both currencies as I am spending a bit of time in London & Scotland before & after contiki). There are also no fees or charges to refund the $ back when you get home or to close the card.
    I would def recommend to do some research – look at what the hidden costs are and weigh up what is going to work best for you. I am also taking my credit card, but plan to use eftpos on my travel cards whenever possible and take enough cash out to last 2-3 days at a time so I dont end up with heaps of fees.
  • 15 Apr 2010 AstroPhys said

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    FYI Ptooma,

    I don’t believe you can sign up for the Schwab credit card any longer.

  • 15 Apr 2010 ptooma said

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    Hey James,

    yer right … Looks like Schwab pulled the card offer for new clients. It is a very rich rewards card with many benefits, concierge service and no yearly fee. I wonder how long they will keep on returning 2% cash back for existing card holders?

    - Vic

  • 18 Apr 2010 AussieBeksta said

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    my partner and i are going with the travelex cash passports… were supposed to be going on our contiki on may 7th so if we get there ill repost afterwards and let you all know how we went!

  • 18 Apr 2010 Explorer1156939 said

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    any advice for a south african?

  • 19 Apr 2010 James K said

    James K

    Thanks AUssieBeksta,

    Hope to hear from you when you get back.

    Thanks

  • 7 May 2011 Paige101 said

    Paige101

    I got a travelex cash passport last week from my travel agent and she did not charge any set up fees or conversion fee’s :)
    The only thing I am hesitant on is using it for eftpos, I was told that there are hidden charges or something?

  • 12 May 2011 JackDarcy said

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    As per my view while traveling you don’t need to carry lots of cash but try to carry your ATM card as well as visa card also. It will be having high amount of risk while carrying more cash with you. So wish you all the best.

  • 15 May 2011 AussieBeksta said

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    The travelex was amazing… didnt have any problems with it at all! we got about 200GBP at each atm and it lasted us a good 2-3 days. i heard that by the end of the year there will actually be a travelex that does all currencies on the one card!! i heard this from my mums bank (savings and loans!) when she went in to get foreign cash and thought it was fantastic! i plan to do another contiki of europe next year and the idea of the travelex being the only card ill need is amazing!! i would recommend it to anyone and everyone!! i will never travel without one!

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