Best way to get USD folding cash. . .

Forums › Travel (planes, train, cruise) › Best way to get USD folding cash. . .

surfisup1000

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#223356 25-Sep-2017 15:43

I will be needing some USD money in notes, for when I visit there shortly.

What is the best way of getting US notes these days?

Obviously the worst way is to use an airport fx kiosk (what i usually do in the past).

I was wondering if it might be an idea to get one of those mastercard travel cards, load it up with some usd, then withdraw it from an atm when i get over there. But, is that a good way?

I guess i could also make a cash withdrawal using my normal CC, but probably not the best since it starts attracting interest right away.

PeterReader

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#1872539 25-Sep-2017 15:43

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wellygary

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#1872559 25-Sep-2017 15:49

How much are you talking about?

You are gonna get creamed by the finance markets at some point,

either with the ex rate to fill the card, or the ex rate when if you withdraw from a NZ$ account in the US

A P2p transfer will probably give you the best ex rate, but you need a foreign $ account you can get access to on the other end,

Do you have a mate you can p2p $$ to and they can give you cash when you get there?

surfisup1000

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#1872567 25-Sep-2017 15:56

wellygary:

How much are you talking about?

You are gonna get creamed by the finance markets at some point,

either with the ex rate to fill the card, or the ex rate when if you withdraw from a NZ$ account in the US

A P2p transfer will probably give you the best ex rate, but you need a foreign $ account you can get access to on the other end,

Do you have a mate you can p2p $$ to and they can give you cash when you get there?

Not a lot, up to USD $500 probably. Just spending cash for little things, most big stuff will go on the CC.

Maybe just withdrawing cash from my cheque account at a US ATM is best.

I was thinking a travel card could be good as I can pick and choose the days with a better rate. But, never used one before was wondering if they have lots of high built in fees.

tripper1000

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#1872580 25-Sep-2017 16:22

surfisup1000:

Maybe just withdrawing cash from my cheque account at a US ATM is best.

With regard to the ATM idea; Check your banks T's & C's. If they charge $5 per transaction (or so) you might want to do one big withdrawal rather than several smaller ones. Also be careful which ATM's you use in the states. There are plenty of private ATM's around that charge you a couple of bucks (over and above your NZ banks fees) for the honour of using their machine.

JimmyH

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#1872637 25-Sep-2017 19:01

I just tend to get mine from the bank before I go.

sbiddle

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#1872642 25-Sep-2017 19:09

Go to your bank and buy some. As an ANZ customer I pay no fees and their rates are good.

In all seriousness for $500 it's not really going to matter where you go as the difference will be so minimal.

If you use a travel card you'll automatically lose ~ 2.5% loading it, but once again with the small amount you're wanting where you go or what you use really makes no difference.

qwertee

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#1872720 25-Sep-2017 21:08

For a larger amount I get it from the money exchange kiosk. eg Lotus Exchange at the Riccarton Mall, Their rate was better, than the bank but marginally not much. (I hope I am not breaking forum rules by giving specifics)

But for small amounts I just get it from my bank like the amount that OP was wanting.

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Linuxluver

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#1872763 25-Sep-2017 22:43

tripper1000:

surfisup1000:

Maybe just withdrawing cash from my cheque account at a US ATM is best.

With regard to the ATM idea; Check your banks T's & C's. If they charge $5 per transaction (or so) you might want to do one big withdrawal rather than several smaller ones. Also be careful which ATM's you use in the states. There are plenty of private ATM's around that charge you a couple of bucks (over and above your NZ banks fees) for the honour of using their machine.

Some of the private ones also pass you data along to crooks who then smash your account with transactions. I got my accounts locked and never used non-Bank ATMs again....and never had another problem. Yes, I always check for card skimming gear at any ATM.

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Batman

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#1872776 25-Sep-2017 23:37

If your regular CC is set up to pay all your bills, if you're worried use a second different CC, so if it gets cancelled, and you have only 1 US in your wallet left, you won't have to beg on the streets and have baycorp waiting for you at AKL airport with baseball bats.

JimmyH

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#1873886 27-Sep-2017 22:13

Batman:

If your regular CC is set up to pay all your bills, if you're worried use a second different CC, so if it gets cancelled, and you have only 1 US in your wallet left, you won't have to beg on the streets and have baycorp waiting for you at AKL airport with baseball bats.

I have a regular credit card. However, I also have a prepaid prepaid credit card that isn't linked to my regular bank accounts(costs me $20 a year). I use this for internet shopping where I'm not sure of the vendor, and load a bit of money on to it when travelling that I use for purchases anywhere where I'm even slightly suspect about the vendor. That way, the most I can lose is the circa $500 I typically load on before I travel, and that's it.

This also means I have two cards in case one doesn't work because (say) there is a technical problem with it - which has actually happened a few years ago when the data on the mag strip on a card somehow got corrupted.

surfisup1000

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#1873890 27-Sep-2017 22:26

sbiddle:

Go to your bank and buy some. As an ANZ customer I pay no fees and their rates are good.

In all seriousness for $500 it's not really going to matter where you go as the difference will be so minimal.

If you use a travel card you'll automatically lose ~ 2.5% loading it, but once again with the small amount you're wanting where you go or what you use really makes no difference.

Yes, you are right. Not much in it for smaller amounts .Thx.

sbiddle

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#1873943 28-Sep-2017 08:21

Batman:

If your regular CC is set up to pay all your bills, if you're worried use a second different CC, so if it gets cancelled, and you have only 1 US in your wallet left, you won't have to beg on the streets and have baycorp waiting for you at AKL airport with baseball bats.

As somebody who's had my card replaced about 4 times in the last 5 or so years due to fraud (visiting the US always seems to be bad) I really wish banks in NZ would offer virtual card numbers. I have probably 10 or so direct debits set up on my credit card so it's always a real PITA to update these every time it happens.

Satch

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#1874080 28-Sep-2017 12:38

sbiddle:

As somebody who's had my card replaced about 4 times in the last 5 or so years due to fraud (visiting the US always seems to be bad) I really wish banks in NZ would offer virtual card numbers. I have probably 10 or so direct debits set up on my credit card so it's always a real PITA to update these every time it happens.

This! I too have had to replace my card 3 times over the past 4-5 years (normally around or just before new years). I asked the issuing bank if virtual card numbers were a likelihood and got the standard "thanks for your suggestion, will be passed to the relevant department" fob off.

Batman

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#1874241 28-Sep-2017 16:47

You mean use virtual card number for dodgy purchases?