Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


rayonline

1677 posts

Uber Geek


#154146 19-Oct-2014 13:20
Send private message

Parents have a normal credit card. They've bought some currencies in the past. Various banks have a foreign currency deposit account which might be for use in nz only. Then anz for example have a travel card but the conversion fee is 5.95% on top of the MasterCard fx. There is the Airnz one smart also. Normal credit cards might be 2.5%. Over the counter in a bank with a deposit account might be 1%.

What have you guys used?

Create new topic
richms
23675 posts

Uber Geek

Trusted
Subscriber

  #1157876 19-Oct-2014 14:10
Send private message

I don't see the point in these cards for travel, and IMO the airnz onesmart is blatant false advertising when they say you can load foreign currencies onto the card, since there is no way to load a foreign currency, just load NZD and then convert it over at their crap rates.

The only use is if you want to lock in an exchange rate but not have to carry money with you, but the rates they give are so bad compared to swapping out money other ways that you would have to see a pretty big shift in the rates to come out ahead, and then it is still just speculating.





Richard rich.ms

sbiddle
29274 posts

Uber Geek

Moderator
Trusted
Biddle Corp
Lifetime subscriber

  #1157884 19-Oct-2014 14:24
Send private message

The ANZ Travelex card has about the best rates around, and the Air NZ OneSmart about the worst. I've got money on both of these cards but typically speaking always use by regular ANZ credit card for all purchases overseas. I use the currency cards solely for ATM withdrawals.


 
 
 
 


Dingbatt
4589 posts

Uber Geek

Lifetime subscriber

  #1157885 19-Oct-2014 14:26
Send private message

Got a Cash Passport through ASB for trip to the States last year. Pre loaded US dollars on it, and from memory it is capable of having up to 4 currencies. You can prioritize the order that funds are accessed from it if there isn't enough of the appropriate currency on it. Was able to use Internet banking to move funds from ASB to Cash Passport while overseas as well. Moving funds within the passport was at their current buy/sell rate, although it seemed reasonably competitive. When I ran into a minor problem I found their call centre friendly and helpful.


Addendum: USD was at a really good rate when I got this card, so a am still using it for internet purchases in USD now.
Not sure if you were asking about debit or credit cards though. This is obviously like a debit card although was treated like a credit card at most merchants in the US.




Areas of Geek interest: Home Theatre, HTPC, Android Tablets & Phones, iProducts.

richms
23675 posts

Uber Geek

Trusted
Subscriber

  #1157890 19-Oct-2014 14:38
Send private message

The thing is you cant just load USD onto the cards. I cant walk into a branch with USD and leave with them on the card. That is what loading USD onto the card would be.




Richard rich.ms

MaxLV
656 posts

Ultimate Geek


  #1157943 19-Oct-2014 16:44
Send private message

rayonline: Parents have a normal credit card. They've bought some currencies in the past. Various banks have a foreign currency deposit account which might be for use in nz only. Then anz for example have a travel card but the conversion fee is 5.95% on top of the MasterCard fx. There is the Airnz one smart also. Normal credit cards might be 2.5%. Over the counter in a bank with a deposit account might be 1%.

What have you guys used?


ANZ dont have the Travel Card anymore. It has been replaced with the Mastercard multi currency Cash Passport card.


http://www.anz.co.nz/personal/credit-cards/travel-card/

Dingbatt
4589 posts

Uber Geek

Lifetime subscriber

  #1158203 20-Oct-2014 08:15
Send private message

richms: The thing is you cant just load USD onto the cards. I cant walk into a branch with USD and leave with them on the card. That is what loading USD onto the card would be.


Semantics. If you already have US dollars what do you need a currency card for? So just substitute 'load' for 'buy and load' if that is more correct. The point I was making is that you 'load' the card with the currency of your choosing and it is stored as that currency and is not subject to later exchange rates or further fees.

The card referenced above is the one I'm talking about.




Areas of Geek interest: Home Theatre, HTPC, Android Tablets & Phones, iProducts.

graemeh
2078 posts

Uber Geek


  #1158293 20-Oct-2014 11:06
Send private message

I use the onesmart because of the three free overseas ATM withdrawals per month.

Most online purchases these days I just let Paypal or Amazon do the conversion to NZD as their rate tends to be better than what the banks are charging me.

 
 
 
 


wsnz
629 posts

Ultimate Geek


  #1158496 20-Oct-2014 14:24
Send private message

The Onesmart card has the added advantage of being able to top up your AirNZ APD account where you balance my be a little bit short to purchase (for example) airfares.

Trying to compare cards is extremely difficult as some for example, many have a low foreign exchange commission rate, but make up for this by keeping the exchange rate used for the calculation relatively high.

Personally after a lot of mucking around with these types of cards I decided to simplify and have reverted to using my Visa for large purchases while overseas, but also carry a small amount of foreign cash around with me.



Create new topic





News »

Nanoleaf enhances lighting line with launch of Triangles and Mini Triangles
Posted 17-Oct-2020 20:18


Synology unveils DS16211+
Posted 17-Oct-2020 20:12


Ingram Micro introduces FootfallCam to New Zealand channel
Posted 17-Oct-2020 20:06


Dropbox adopts Virtual First working policy
Posted 17-Oct-2020 19:47


OPPO announces Reno4 Series 5G line-up in NZ
Posted 16-Oct-2020 08:52


Microsoft Highway to a Hundred expands to Asia Pacific
Posted 14-Oct-2020 09:34


Spark turns on 5G in Auckland
Posted 14-Oct-2020 09:29


AMD Launches AMD Ryzen 5000 Series Desktop Processors
Posted 9-Oct-2020 10:13


Teletrac Navman launches integrated multi-camera solution for transport and logistics industry
Posted 8-Oct-2020 10:57


Farmside hits 10,000 RBI customers
Posted 7-Oct-2020 15:32


NordVPN starts deploying colocated servers
Posted 7-Oct-2020 09:00


Google introduces Nest Wifi routers in New Zealand
Posted 7-Oct-2020 05:00


Orcon to bundle Google Nest Wifi router with new accounts
Posted 7-Oct-2020 05:00


Epay and Centrapay partner to create digital gift cards
Posted 2-Oct-2020 17:34


Inseego launches 5G MiFi M2000 mobile hotspot
Posted 2-Oct-2020 14:53









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.