best form of currency for australia?

sarcycyril

hi,

im going to australia next month for 3 weeks. I obviously dont want to carry all my money around with me so trying to work out whats best.

was thinking of taking a bit of cash with me, i have a nationwide card so then could take the rest out when i get there. i know they now charge a 2.5% fee for this.

do i lose out getting the local rate compared to the exchange rate here?

are travellers cheques a better solution - although you dont seem to hear much about them these days?

another option is to take sterling and exchange this at a bank over there, i have done this before in other countries and got much more for my money than doing it here.

as you can see i need some advise!

thanks!

alanrowell

sarcycyril wrote: »

i know they now charge a 2.5% fee for this.

They don't - it's 1% - and as such is still the best rate you'll get

TCs are useful for dire emergencies but otherwise are useless

sarcycyril

'but charges 1% for worldwide purchases, and charges a 2.5% cash withdrawal fee everywhere.'

yes your right 1% for purchases but im interested in taking money out of an atm so thats 2.5%

isplumm

sarcycyril wrote: »

'but charges 1% for worldwide purchases, and charges a 2.5% cash withdrawal fee everywhere.'

yes your right 1% for purchases but im interested in taking money out of an atm so thats 2.5%

Do want I did & pay for most things by card (Nationwide) & take about £500 in cash .... suspect that will be enough.

Mark

dzug1

sarcycyril wrote: »

'but charges 1% for worldwide purchases, and charges a 2.5% cash withdrawal fee everywhere.'

yes your right 1% for purchases but im interested in taking money out of an atm so thats 2.5%

For a debit card?? No way. Or are you talking about their credit card?

isplumm

sarcycyril wrote: »

'but charges 1% for worldwide purchases, and charges a 2.5% cash withdrawal fee everywhere.'

yes your right 1% for purchases but im interested in taking money out of an atm so thats 2.5%

You must be talking about the CC ... because according to Nationwide own website it is 1% for Oz for taking out of a ATM.

http://www.nationwide.co.uk/current_account/foreigntransactions.htm

Mark

sarcycyril

im confused! this website (moneysavingexpert) states that the fee is 2.5% for the debit card for taking money out of an atm but the nationwide website only mentions 1% for foreign transactions - suggesting purchases on the card?

Rikki

Why not get a Travelex Cash Passport Card. You load it on-line in sterling it converts to in your case with Australian Dollars and it's free to spend with.

Free ATM withdrawals and you can use it like debit card. It's basically a pre-loaded currency card a modern version of travelers cheques.


Cash Passport

alanrowell

sarcycyril wrote: »

im confused! this website (moneysavingexpert) states that the fee is 2.5% for the debit card for taking money out of an atm but the nationwide website only mentions 1% for foreign transactions - suggesting purchases on the card?

WHERE does it say 2.5%? Is it including a fee that an Aussie bank might charge for using their ATM?

HGLTsuperstar

Nationwide (flex account) DEBIT - 1% for withdrawals outside Europe
and you shouldn't even be thinking about cash withdrawals on any credit card!

sarcycyril

http://www.moneysavingexpert.com/travel/cheap-travel-money#cheapest

this link on this very website says about the 2.5%!! look at the nationwide card bit.
· Nationwide Quick Stats. European Load: 0%. Worldwide Load: 1%. Cash withdrawal fee: 2.5% (min £3). APR: 16.9% Interest charged on cash withdrawals even if paid off in full: Yes, 27.9%
cash withdrawal free 2.5%