Accessing money overseas?

Discussion in 'Money Management & Banking' started by Jmillar, 13th Jun, 2017.

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  1. Jmillar

    Jmillar Well-Known Member

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    Hi guys,

    I'm travelling to USA in a couple weeks and wondering what the best way to access my money would be?

    I use a Westpac credit and debit card on a daily basis but their fees are 3% for usage overseas.

    Is there a better alternative?
     
    Jmillar, 13th Jun, 2017
    #1
    willair likes this.
  2. geoffw

    geoffw Moderator Staff Member

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    Last edited: 13th Jun, 2017
    geoffw, 13th Jun, 2017
    #2
  3. bashworth

    bashworth Well-Known Member

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    bashworth, 13th Jun, 2017
    #3
  4. WestOz

    WestOz Well-Known Member

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    WestOz, 13th Jun, 2017
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  5. Tranquilo

    Tranquilo Well-Known Member

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    Citibank for me too.
     
    Tranquilo, 13th Jun, 2017
    #5
  6. Ed Barton

    Ed Barton Well-Known Member

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    I think they still accept American dollars in most parts of the USA. Just take a thick wad of them.
     
    Ed Barton, 13th Jun, 2017
    #6
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  7. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    I just go to the ATM - nice and easy. Take out large chunks at a time. Keep some in the hotel - take a little out. Can use credit cards everywhere too.

    Cheers

    Jamie
     
    Jamie Moore, 14th Jun, 2017
    #7
  8. geoffw

    geoffw Moderator Staff Member

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    That raises a point. A card may not have a fee for withdrawing cash, but many ATMs do. It's usually a set fee per transaction, so a larger chunk of cash minimises the percentage.
     
    geoffw, 14th Jun, 2017
    #8
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  9. aussieB

    aussieB Well-Known Member

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    Best way - how ? Maximum exchange rate ? Safest way to transport the money ? Etc ?
    How much money are you talking about ? Just carry it in person if less than 10k AUD
    If not I find using international transaction fee free credit cards to be quite good (no ATM withdrawals) - Bankwest.
     
    aussieB, 14th Jun, 2017
    #9
  10. dmb1978

    dmb1978 Well-Known Member

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    dmb1978, 14th Jun, 2017
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  11. Jmillar

    Jmillar Well-Known Member

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    Hey guys thanks (to some of you) for the help. I've applied for a Citibank Plus account and debit card - no monthly fees, no fees for ATM withdrawals and EFTPOS transactions all over the world (my Westpac cards have 3%). From research this was the best option.

    Hope this helps others in the same predicament.

    Cheers
     
    Jmillar, 14th Jun, 2017
    #11
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  12. Beano

    Beano Well-Known Member

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    Open an account in the usa (with cash) and then TT the money in future trips
     
    Beano, 14th Jun, 2017
    #12
  13. Zenith Chaos

    Zenith Chaos Well-Known Member

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    • 28 degrees MasterCard.
    • Citibank for cash withdrawals.
    • Exchange with people here who have US currency.
    • Exchange here at places where you can get reasonable rates.
    • Take AUD cash and exchange at gold shops not at airports etc.
     
    Zenith Chaos, 15th Jun, 2017
    #13
  14. wombat777

    wombat777 Well-Known Member

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    Your wallet? :p

    (edit - but seriously I use my Bankwest Qantas credit card where possible, as it has no foreign transaction fees)
     
    wombat777, 15th Jun, 2017
    #14