Money advice: Traveling for a year

stephc17

Looking for some money advice! At the end of September I am going away backpacking for a year which includes south east asia for two months then Australia/New Zealand the rest.

I have set up an Australian bank account so I'm sorted for then. But I'm not sure what to do for my two months in SE Asia, was thinking small amount of cash and use my debit card? Its a RBS graduate account which is maestro. Or should I take a credit card as a back up? I've never had a credit card before so I've booked an appointment at my bank for advice but worried they will get me to take out a RBS one when there are better ones to get?

Thanks!

Doshwaster

I would always want to be with a credit card for backup and emergencies but it would probably be too dangerous to do most of your spending on it. Too easy to run up a huge bill.

Just remember to tell your bank that you are going to be travelling. They are getting more proactive about stopping cards which have unusual spending patterns.

I'm very envious - I just wish I had the time to spend a year travelling but once you get stuck into a job you have to settle for two weeks at a time.

Pee

Cards are great, but take plenty. You may find only a credit card will let you withdraw funds. Ideally someone should be checking statements whilst you are away - a good friend or sibling, maybe? Isn't the Nationwide card the very best one?

DaMaNiAc82

I used my Nationwide Flex account all over Asia without any problems. They didn't use to charge any fees but it's now 0.84% per transaction which is still the best around. Visa Debit seemed to be fine in every ATM I tried. I also took out a Mastercard Credit card but only ever used it for booking flights.

danandjens_worldtravels

We did 6 month in India and SE asia, and did not use the credit card. Two reasons, they were for emergency only and there were not that many options to use them. The larger hotels accepted CCards as payment but the smaller and cheaper guesthouses, that I expect you will stay in have no facilities and want cash.

A debit card for cash is your best option. There are cash machines everywhere, Nationwide is best and accepted everywhere, but watch out for the machines that charge you for using them, it only tells you at the end. (Laos and Vietnam I think).

Have fun, we are looking forward to heading out again soon!

Chinahand

Hi stephc17

Have you thought about taking out an HSBC credit card? There are HSBC's all over Asia and Australia - as long as it is their card you are using to withdraw money - there is no charge at the machines. A credit card as an emergency with a big bank which is recognised around the world is always good.

Don't carry too much cash on you and use a money belt - there are many great designs these days which can be hidden down the front of your trousers (you only see the loops) or belts which have an inner zip. Hubby and I travel all over the world on a fairly regular basis and we both have them.

Enjoy your travels - I'm sure you will have a ball. As a mum of two grown kids (32 + 27) I cannot stress enough that you should make regular contact with your family. Everywhere you are going.... leave a paper trail through facebook, twitter etc... the more friends and members of your family who know exactly where you are is a big releif for them and you can share your travels.

Have a fab time!