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yay money question
- 9 responses so far
You only need to declared amounts over 10,000AUD. but there is no limit. if you want to avoid carrying cash use travllers cheques, they should be covered by travel insurance. where as cash isn’t.
Travellers Cheques are nearly dead i’m afraid…they’re not really used anymore and could cause some problems…you should be fine to bring cash and get a travelex card, just go to a bank or travel Agent when you arrive and load it up. Your passport should be enough ID <!--graemlin::)-->
How long are you going? If it’s just a month or so I would just get a travelex card. Or take some travelers cheques as a back-up incase your atm card gets eaten.
If you’re going there for an extended period – like 6 months or more then opening a bank account might be a viable option.
Open up another checking account and get a second ATM card. Maybe you can link the 2 together.
I’d go with what Vic said – try to get another cheque account or even just a credit card from another provider, that’ll do it for you.
Unfortunately, opening a second account with my bank will be more costly than the travelex option. Opening an account costs 19.99$, then there’s at least 7.95 a month in fees, it costs 15 to transfer money to anouther accoun, even within the same bank, and it has to be kept open before being closed for at least 12 months. If you close it before that, there’s a 125$ fee. FML srsly
Have you thought of using a different canadian bank because yours has a lot of fees. I am canadian and at my bank I have 2 accounts and it cost nothing to transfer, I have no monthly fees as long as I keep a certain amount in my account and it was free to open another account.
The Travelex cards are a good option as you can load them with AUD before you leave home. You just need to go to any travelex store and they can issue them there and then.
You also get a free spare card (very handy if an atm takes a liking to your card) and if your cards are stolen, travelex will replace them within 24 hours. There are fees though, there is a (i think) 1.1% commission of the amount you load onto the card, that you pay to convert the money and there is $3.75AUD fee ($2.25USD) to draw money out of the atm, but in saying that, as you have already loaded the AUD onto the card, you won’t have to pay the Visa conversion fee for every transaction. And if you get the Visa Debit cash passport, you can also use it in shops anywhere that Visa is accepted.
It would be a good idea to go and get a PDS from travelex and have a read through and compare it to your banks overseas fees as well, just to make sure that is the best way to access your money.
Any other questions PM me <!--graemlin::)-->
i am a canadian with td and i plan on using my visa for everything .. i will also have my debit card and some cash, but for the most part will put everything on my visa and then pay it on online banking from the money in my checking account.. this is the advice my bank advisor told me to do..
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