Holiday Money

mandymack

Ok already posted request under Travel board and thought the I might try here as well.

Going to Australia on holiday shortly and not sure what is the best way to take spending money with me, i.e. australian currency, sterling travellers cheques or Australian dollar travellers cheques.
Has anybody go any advice or experience they can pass on

Thanks

Mandy

Mr_B_13

You could set up a Nationwide current (flex) account - very cheap rates on foreign transactions and cash withdrawals - if you did this, you could then withdraw cash as and when required.  Martin has written an article on this subject (http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1084092456,17984,).

Mr B

nearlyrich

We just used visa to pay in shops and restaurants etc and cash via local ATM..

There are some banks & visa providers who charge more than others for currency exchange so check before you travel that you are getting a good deal.

Fatboy_NSS

Even if you don't use Nationwide you will still get a better deal withdrawing from ATMs in Oz than buying currency before you go. If you use your card at foreign ATMs you will get the benefit of the bank exchange rate rather than the tourist rate, so even though the bank might charge 1-2% foreign exchange fee (as opposed to 0% at the post office) you will get a much better exchange rate which makes paying the commission fee worthwhile.

Of course if you have / can get a Nationwide current account then you will benefit twice from the bank exchange rate and paying 0% commission.

drjlee

I have a postal Nationwide instant access Savings account .Do you know if this doesnt charge aswell as the current account