Advice On Which Cards To Use In Australia and any other hints.

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Forums › Finance and wealth management › Advice On Which Cards To Use In Australia and any other hints.

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Eva888

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#3332403 16-Jan-2025 20:38

heavenlywild:

Don't need cash these days. Went to AU, Singapore, Malaysia and Thailand... Wise delivered all the way. I even took some cash out in Malaysia so the the kids could play at the arcade, and there was zero fees.

I transferred currencies while I was on the plane too, lol. When tech works, it's magic.

The bit I don’t understand is transferring currencies. I transfer money from my NZ bank to my Wise account. It sits there and I use it from whatever country I am in. Is this wrong? Should I be doing something different for each country?

heavenlywild

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#3332405 16-Jan-2025 21:14

Eva888:

heavenlywild:

Don't need cash these days. Went to AU, Singapore, Malaysia and Thailand... Wise delivered all the way. I even took some cash out in Malaysia so the the kids could play at the arcade, and there was zero fees.

I transferred currencies while I was on the plane too, lol. When tech works, it's magic.

The bit I don’t understand is transferring currencies. I transfer money from my NZ bank to my Wise account. It sits there and I use it from whatever country I am in. Is this wrong? Should I be doing something different for each country?

Yes, that's right. You can move an amount anytime to another currency so when you use your card you spend like a local, no conversion fees.

SpartanVXL

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#3332406 16-Jan-2025 21:15

Eva888:
heavenlywild:

Don't need cash these days. Went to AU, Singapore, Malaysia and Thailand... Wise delivered all the way. I even took some cash out in Malaysia so the the kids could play at the arcade, and there was zero fees.

I transferred currencies while I was on the plane too, lol. When tech works, it's magic.

The bit I don’t understand is transferring currencies. I transfer money from my NZ bank to my Wise account. It sits there and I use it from whatever country I am in. Is this wrong? Should I be doing something different for each country?

You’re doing it fine for flexible use. You only want to exchange to a different currency if you want to lock in the exchange rate at that time.

Take the USD right now, it’s not great. If you had bought some when it was at 0.63 ish then it would be cheaper than auto-exchanging it now.

For holidays though it’s not really worth worrying about as you,ll be using it pretty close to when you top up wise.

Whatever you do, don’t exchange manually and then exchange back into NZD when you’ve finished your holiday, you get hit twice with the exchange fee. Hence why it’s better to keep in NZD and let the auto-exchange just do it once.

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