Overseas Travel - Best way to take money overseas

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Forums › Finance and wealth management › Overseas Travel - Best way to take money overseas

raki

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#129570 19-Sep-2013 19:32

Hi I'm travelling to the US next year, can anyone please recommend the best way to take money, credit card or a travel card, or cash, or a combo of all of these, I've read heaps of pros ands cons so any advice would be greatly appreciated.

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#898690 19-Sep-2013 19:35

Hi, First of all, I don't think the "Geekzone" would be the best sub-forum for this topic.

Secondly, I would take something like a debit card, or credit card (In my case I would use my ASB Visa Debit card), and take a little bit of carrying cash as an emergency backup.

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#898691 19-Sep-2013 19:42

Moved to correct forum. Please use correct forum for discussions or topics may be deleted.

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#898693 19-Sep-2013 19:43

I usually take US$100 cash in small denominations for immediate expenses if needed (a cab ride, or coffee at airport) and credit cards.

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johnr

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#898697 19-Sep-2013 19:51

AirNZ One Smart card

AidanS

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#898700 19-Sep-2013 20:02

Personally I'd take my debit cards and what JohnR said, I'd get one of the reloadable AirNZ cards.

(With US$ cash for things that don't take plastic).

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davidcole

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#898701 19-Sep-2013 20:02

We've alway just taken a credit card - with a positive balance. And do a cash withdrawal off that.

Especially if dealing with mulitple currencies. It doesn't attract a cash advance fee (like it does when negative).

Not sure how this compares to a onesmart which allows you to lock in foreign currency at a set rate.

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#898708 19-Sep-2013 20:28

heres what my parents used in their recent travels http://www.cashpassport.com/

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#898709 19-Sep-2013 20:35

I use my credit card for as many things as I can. I use cash for the odd other thing.

To withdraw cash I use a ANZ prepaid US$ card as it's cheaper than using a regular credit card for ATM cash withdrawals.

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#898711 19-Sep-2013 20:40

sbiddle: I use my credit card for as many things as I can. I use cash for the odd other thing.

To withdraw cash I use a ANZ prepaid US$ card as it's cheaper than using a regular credit card for ATM cash withdrawals.

Including when in credit? I just looked an saw a onesmart lets you make 3 cash withdrawals for free a month, and if you have the current loaded.

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#898714 19-Sep-2013 20:45

Yeah, I use a credit card, and a little cash (for those few places that may not take credit).

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#898781 19-Sep-2013 23:10

Depending on where you are going, I also suggest:

- A prepaid credit card, not linked to your bank accounts, with $4-500 dollars on it. For use in dodgy restaurants, shops and anywhere else you are worried they could be less than scrupulous about not having staff steal credit card details and for later fraudulent use etc. Limits the risk of your accounts and credit limit being cleaned out by fraudulent transactions while overseas. This is a PITA at the best of times, doubly so if you are stranded with no money and can't easily get to your bank to sort it out.

- A money belt, with your main credit card and most of your cash in it. You wallet should only contain your prepaid credit card (or even a fake one) and a small amout of cash - so that's all a mugger or pickpocket gets.

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#898801 20-Sep-2013 00:45

+1 for the smart card, 3 free withdrawals and most places take credit cars - and lots of dollar bills... I always had cash on me for various things.

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#898883 20-Sep-2013 09:45

Head to San Francisco in three weeks and just taking cash and my debit card with me that will help me get more cash out if I need it.

Though I need to ask what the fees are for international cash withdraws at ATM's as I am being blind on ANZ's website.

The penny's, nickels, dimes and quarters I will eventually end up with will be going into a Coinstar vending machine converted into a Amazon Gift Card

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#898893 20-Sep-2013 10:14

l43a2: heres what my parents used in their recent travels http://www.cashpassport.com/

+1 for the Cash Passport. We got one for my daughter when she was invited to a taekwando training camp in Australia a couple of months ago, and have just topped it up with yen as she's off to Japan this weekend for a two week school trip.

Basically, each time you travel you set the "default currency" on the card to match where you're going and top it up with that currency (for a small fee), then just use it like an EFTPOS card while you're away, with no additional currency conversion fee for each transaction. You can manage the card online, and get a "backup" card to lock in the hotel safe in case your wallet gets stolen while you're out and about.

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#898924 20-Sep-2013 11:04

raki: Hi I'm travelling to the US next year, can anyone please recommend the best way to take money, credit card or a travel card, or cash, or a combo of all of these, I've read heaps of pros ands cons so any advice would be greatly appreciated.

How you structure this depends on your financial situation. I would suggest having two credit cards for most purchases. Each credit card should remain active if the other is cancelled (ie reported lost/stolen) - keep one in your wallet as normal and the other in your luggage or somewhere where both will not be lost/stolen at the same time. The transaction fees and exchange rates are those at the time of each purchase.

There is always a need for cash. I have just returned from a trip to Europe and the Air NZ Onesmart debit card and it was perfect (so far) using 'wallets' for Euros and Pounds (GBP). You top up the card using internet banking bill pay to your NZ$ wallet just before you leave. You can then transfer between wallets online (ie from NZ$ to $US in your case), the advantage/disadvantage being the exchange rate is fixed at the time of transfer (ie not at the time of withdrawal). When you get to the US use an ATM and the $ will come out of your $US wallet by default. Transaction fees over the free allowance are fairly cheap compared to using a NZ bank debit card.

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