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710 posts

Ultimate Geek


# 212748 10-Apr-2017 21:06
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Hi Geekzoner's...


I'm going to be in Holiday in Melbourne for 8 days with the family soon, and on bit of a budget, and want to maximise $$$ (read: not lose money where I don't have too).


The question I have is:


- Better to just do the cash thing? Granted, not very secure.


- Use NZ bank card \ credit card and get hit with International fees and transaction charges?


- Use either Kiwibank's Loaded for Travel or BNZ Cash Passport card(s). BNZ is Mastercard and Kiwibank is VISA.


Has anyone used either the Kiwibank or BNZ product, are they worth it or just a rip?


I'm not with either of the banks mentioned above, and my banks card option is rubbish.


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  # 1760455 10-Apr-2017 21:14
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last 2 times ive been to oz (oct and feb) i have taken cash out at ATM's (anz) and used my credit card for purchases and have only been charged currency conversion fees.

 

i cant remember the last time i was stung with a " International fees and transaction charges" as you put it, only the basic currency conversion fee.


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  # 1760463 10-Apr-2017 21:33
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Depends on your intended spending and habbits and size of purchases. I usually budget a modest 100-$120 a day and come home with change usually. Keeping minimal on me. And then use the CC for clumpier purchases. It possibly works out worse, but at least theres no big surprises coming home to the bill :)

 

Have to take into account the additional costs ontop of the ticket pricing.

 

$3-5 every time you use an ATM for cash out. (may work out cheap if you get a heap at a time, may not)

 

2.5% on the NZ dollar value (struck with the currency at the time they process) when using cards

 

Have to weigh it up on a potential foreign withdrawl costs (none if you have a platinum CC)

 

Use to have an excel calculator with a banding of the best option but it was a bit extreme.


 
 
 
 


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  # 1760468 10-Apr-2017 21:44
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Cash is always the easiest. And it's not like Melbs is the other side of the planet, so a travel card is probably OTT.

 

And unless you're doing something dodgy/ or you're seriously clumsy, I can't see how it is less secure than your cards.

 

Ever since my last overnight trip to NZ (where I found myself without access to an ATM) I only take cash, because I couldn't even get food with my Oz ANZ card via EFTPOS in NZ. At a place on the other side of Welly Airport (I'm talking about you, Spruce Goose)!


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  # 1760475 10-Apr-2017 21:58
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How likely are you to go back to Oz in the next 12 months? How much do you anticipate spending daily?

 

I've used the Kiwibank Loaded for Travel credit card (KLfT CC) while travelling in the US in 2015.

 

  • If a credit card was accepted, no probs using KLfT CC
  • You can purchase the foreign cash in advance, hopefully at a btter exchange rate than on the day that you are making your purchase
  • The KLfT CC is valid for a year, so it's very easy to keep cash on there for your next visit

     

    • Note that your cash on the card will NOT earn any interest
  • Easy enough to top up the KLfT CC from their web portal using your NZD
  • You are going to loose / pay fees when converting the remainder on the card back into NZD
  • As stated above, always good to have some cash available for the bus / shop that doesn't accept CC

You are going to visit family. How about these alternatives?

 

  • Can you not do a personal exchange with them? No fees to pay, both can agree on an acceptable exchange rate.
  • They could pay for expenses while you are visiting and next time they visit NZ, you could pay?
  • Do they have a spare bank account and card? Could you not do an international transfer into that account before hand and then use that card for the duration of your visit?

 





Please keep this GZ community vibrant by contributing in a constructive & respectful manner.


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Ultimate Geek


  # 1760542 11-Apr-2017 07:27
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I bank with Westpac in NZ. I use my Westpac card in atm's in AU with no fee, and in any retail location. I usually carry $20 for things like newspapers and usually come home with $15 in cash remaining.

Westpac don't charge for using any Global Aaliance ATM, globally; for example no fee at Barclay's in the UK. And cash withdrawal exchange rates are the best you will get under any circumstances. Note, cash withdrawal, not cash advance on a credit card.

So - check with your bank.




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  # 1760544 11-Apr-2017 07:43
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Just remember Aussie don't use EFTPOS like we do..

 

Purchases under $5/10 are usually cash not EFTPOS/Visa... (does depend on the shop of course)





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  # 1760545 11-Apr-2017 07:44
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We usually just put the Visa in credit for the big ticket stuff and take some cash.  AU is in places well behind NZ in respect of electronic transactions.  

 

 





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  # 1760551 11-Apr-2017 08:07
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mentalinc:

 

Just remember Aussie don't use EFTPOS like we do..

 

Purchases under $5/10 are usually cash not EFTPOS/Visa... (does depend on the shop of course)

 

 

On this - last time I was in Melbourne, it annoyed me that when paying by card, they would take my card, swipe it through the pinpad and then ask me what account. Surprised that they didn't ask me for my PIN at the same time...


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  # 1760553 11-Apr-2017 08:24
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Australia leads the world in contactless transactions, but for low use cash still rules due to the fact they didn't have ubiquitous EFTPOS like we did in NZ. Expect to have a minimum charge for this due to the processing costs.

 

As I'm normally in Australia 5-6 times per year I tend to always have some cash on me, but as I'm an ANZ customer I get free ATM withdrawals so just use that for more. I just use my credit card for the vast majority of purchases.

 

I see no point in wasting time with travel cards.

 

 


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  # 1760570 11-Apr-2017 09:06
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trig42:

 

mentalinc:

 

Just remember Aussie don't use EFTPOS like we do..

 

Purchases under $5/10 are usually cash not EFTPOS/Visa... (does depend on the shop of course)

 

 

On this - last time I was in Melbourne, it annoyed me that when paying by card, they would take my card, swipe it through the pinpad and then ask me what account. Surprised that they didn't ask me for my PIN at the same time...

 

 

 

 

It's 'the thing'. 1 cause a lot of their systems dont have the connection to feed amount and they want to avoid customers doing the dodge, 2 they HATE downtime, and get sick of people picking the wrong account. (or so I can summise given the rest of the nation)

 

Mate of mine got guite upity asking them what business is it of theirs to ask the account :)


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  # 1760572 11-Apr-2017 09:12
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sbiddle:

 

Australia leads the world in contactless transactions, but for low use cash still rules due to the fact they didn't have ubiquitous EFTPOS like we did in NZ. Expect to have a minimum charge for this due to the processing costs.

 

As I'm normally in Australia 5-6 times per year I tend to always have some cash on me, but as I'm an ANZ customer I get free ATM withdrawals so just use that for more. I just use my credit card for the vast majority of purchases.

 

I see no point in wasting time with travel cards.

 

 

 

 

Ah, clearly I was factoring ATM charges on what it use to be. (of course cash adv still does)

 

 

ATM fees

 

 

 

Item

 

Charge

 

 

 

 

 

ANZ ATM fee

 

No charge

 

 

 

Transaction fees may apply.

 

 

 

Non-ANZ ATM fee

 

$1

 

 

 

Applies to each transaction and balance enquiry at non-ANZ ATMs. Charged in addition to normal transaction fees.

 

 

 

Overseas ATM fee

 

$5

 

 

 

Applies to withdrawals from everyday and savings accounts. This fee is waived for ANZ ATMs located overseas.
Banks and other financial institutions who own overseas ATMs may charge a fee for using them. Currency conversion charges of 2.5% of the NZD amount also apply to foreign transactions.

 

 

 


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  # 1761829 11-Apr-2017 20:14
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mentalinc:

 

Just remember Aussie don't use EFTPOS like we do..

 

 

 

 

You're right...I can use my phone absolutely everywhere here with paywave, and have done for ages ;p

 

 

 

I can't remember the last time I actually had to "select account".


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  # 1761834 11-Apr-2017 20:28
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blakamin:

 

Cash is always the easiest. And it's not like Melbs is the other side of the planet, so a travel card is probably OTT.

 

And unless you're doing something dodgy/ or you're seriously clumsy, I can't see how it is less secure than your cards.

 

Ever since my last overnight trip to NZ (where I found myself without access to an ATM) I only take cash, because I couldn't even get food with my Oz ANZ card via EFTPOS in NZ. At a place on the other side of Welly Airport (I'm talking about you, Spruce Goose)!

 

 

I was in Robina Mall, Gold Coast, Maccas, my Westpac EFTPOS card would not work. Generous lady behind me threw a 20 to pay for it. Pretty darn nice. But my card worked at the dairy near Surf St, Broadbeach. Cash as well next time for sure. If Westpac was an OZ bank, it would have been ok.....


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  # 1761878 11-Apr-2017 21:39
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blakamin: You're right...I can use my phone absolutely everywhere here with paywave, and have done for ages ;p 

 

Care to elaborate on the type of phone and the type / method of payment?

 

 

 

In NZ, only ANZ does Apple Pay. ASB use their own app with NFC for phone payments. They don't link to Android Pay. And I think not many other do Android Pay in NZ. So please, enlighten us.





Please keep this GZ community vibrant by contributing in a constructive & respectful manner.


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  # 1761883 11-Apr-2017 21:45
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IcI:

 

blakamin: You're right...I can use my phone absolutely everywhere here with paywave, and have done for ages ;p 

 

Care to elaborate on the type of phone and the type / method of payment?

 

 

 

In NZ, only ANZ does Apple Pay. ASB use their own app with NFC for phone payments. They don't link to Android Pay. And I think not many other do Android Pay in NZ. So please, enlighten us.

 

 

 

 

ANZ, Android Pay.

 

I'm in Oz.

 

That's why it says "Aussie" under my Avatar...

 

And the fact I've pretty much pointed to that fact in every post in this thread.

 

And the bit you cut off to quote me was about Aussie doing EFTPOS differently.

 

wink


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