Taking spending money to Oz

rosietj29

Hi everyone - This might seem like a very obvious question but please bear with me as I am very green about such things! I am off to see my daughter in Australia in Feb for 3 weeks. I have always assumed travellers cheques to be the best, or using your debit card for europe in the hole in the wall, but a bit more difficult in Oz. I have seen that American Express has a 'load' type card - which is not a credit card - but one you load money onto. Anyone used this method and any pros and cons on getting one?? or is it better to just stick with the old travellers cheques? Would appreciate some advice.

Many thanks

movieman

I spent a month or so in Australia in the late 90s and just took out money from ATMs using my British bank card. I assume things have only got easier since them.

Obviously there are fees associated, but in my case if I took out a hundred pounds or so at a time they were lower than travellers check fees.

puffinmuffin

"I have seen that American Express has a 'load' type card - which is not a credit card - but one you load money onto. "

I think Visa do one which might be better as it is more widely accepted. I was there last year and we just withdrew money from the wall, there are plenty of banks in most places.

pin

1. Nationwide Debit Card for ATM withdrawals from destination country (no foreign loading) / the Audi credit card or the Post Office credit card for purchases in destination country (but watch out for Dynamic Currency Conversion) (no foreign loading for purchases, BUT watch charges for cash withdrawals).

2. Nationwide Credit Card (please note Nationwide's policy re chip and pin in foreign countries: see this thread from FlyerTalk) (no foreign loading for purchases, BUT watch charges for cash withdrawals).
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3. SAGA credit card (if you are over 50) for purchases in destination country (no foreign loading for European purchases, 1% for rest of the world, no cash withdrawal interest if balance repaid in full BUT 1.5%/£1.50 cash withdrawal fee).

4. Any other debit card for ATM withdrawals from destination country / any other credit card for purchases in destination country (but for both CHECK T&C's to see exact charges).

5. Thomas Exchange Global ("TEG") in central London - pay and pick up at store.

6. Travelex online (remember Travelex will price match any other exchange service, i.e. the one above) -pay online, pick up at airport.

For price matching: order through Travelex online as you would do normally, then call up TEG (02072401214 or 02078281880) and get a quote re their exchange rate. Email Travelex: [EMAIL="customerservices@travelex.com"]customerservices@travelex.com[/EMAIL] (must be done on the same day) stating the following: your Travelex reference number, your currency quote from TEG (and the fact you got it from TEG) and your address (Travelex will send you a cheque refunding the difference). Also Travelex normally acknowledge receipt of your email. Full terms and conditions of the Travelex Price Promise are on the Travelex website.

7. Marks and Spencer - pay online or pay and pick up instore.

8. Online FX (using this link ensures free deliver) - pay online, delivery to home.

9. HSBC (they seem to use Amex as their travel money provider and offer free delivery for orders over £350) - pay online, deliver to home or pick up from branch (and avoid any delivery charge).

10. Thomson Travel (they seem to use Amex as their travel money provider) - pay online, delivery to home.

11. Co-op Travel (they use Currency Express / Exchange and offer free delivery for orders over £300) - pay online, delivery to home.

12. Post Office (while probably not the best rate, there are many of them around, so may be convenient) - pay online, pick up at PO or pay and pick up at PO.

13. Haggle with High Street travel agent (which may ensure better rates than 5 to 9 above) - pay and pick up instore.

With 1 - 4 make sure you tell your card provider you are going abroad, where you are going and for how long, so they can put a note on your account.

With 5 - 13, if you are paying with debit / credit card check your T&C's as many providers charge for the privilege of using money exchange services.

Here are links to ATM locators: VISA and MasterCard

Here are various information links to VISA: Foreign Exchange Rate FAQ and Visa Exchange Rates

Also please read Martin's article: Spending Overseas and Loading Technicals

Also look at the these forum threads: The Cheapest Way to Spend Overseas Discussion Area and How to buy TCs and foreign currency
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Party_Animal

Just back and relied solely on my Nationwide debit card travelled all over and no problems at all.

Amba_Gambla

My parents have just got back from Oz and he's just got his Barclaycard bill - he's got a better deal spending on his card than he got by getting foreign exchange....