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how to take money toe europe from australia

Somerset, Australia
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how to take money toe europe from australia

can someone please advise me of the best way to del with money whilst overseas? I am travelling to europe and great britian

78 replies to this topic
Sydney, Australia
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1. Re: how to take money toe europe from australia

Take a debit card and get cash out of ATMs from your ordinary bank account, just like you do at home.

Auckland, New...
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2. Re: how to take money toe europe from australia

Get travel debit cards. You can purchase them in overseas currency now at the current exchange rate, so you know what you are paying. Depending on the ones chosen, you may need to get one for Euros and one for Pounds.

The one we used - ANZ - you could also use just like an eftpos card when purchasing goods, which saved having to carry around loads of cash.

Sydney, Australia
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3. Re: how to take money toe europe from australia

The travel cards available in Australia are much worse value than ordinary debit cards. They have various fees and a poor exchange rate.

And by buying now, you are just betting that the AUD exchange rate will not continue to improve.

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4. Re: how to take money toe europe from australia

We always buy an ANZ travel card, cost is $11AUD. We watch the rate for a while, and buy when we feel we can get a good rate - for instance, the Euro was really high some weeks ago, but has now dropped several cents so if you had bought at the high rate, you know exactly what your costs are. We use them like eftpos everywhere we can. If we need to make a withdrawal, we take out a good amount - the withdrawal fee is 2.10E.

Anything left over can be refunded to your normal bank account

We don't bother with credit cards unless necessary any more while away.

Sydney, Australia
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5. Re: how to take money toe europe from australia

Travel cards have a very poor exchange rate, a cost to load and the rate at purchase is locked in. My sums on these have indicated a cost of about 5% of any transaction goes to the card issuer. They also cannot be used for car hire or hotel room hire "imprints".

ATM cards usually charge you 2-3% foreign transaction fee plus an ATM withdrawal fee of $2-$3 each transaction. If you use a CC for purchases they will also charge a 2-3% foreign transaction fee.

If you choose an NAB Gold Debit card there are no transaction fees and no charges to withdraw money at an ATM but they are usually unacceptable for car hire and hotel room hire.

If you choose a 28degrees Credit Card there are no account keeping fees and no OS transaction fees. To use it to withdraw cash you must put the account into credit using the Bpay facility which then makes the card like a debit card, but it is still a CC and so acceptable to hotels and car hire.

In our last trip OS to Europe I measured my accounts against my husbands. We each withdraw the same amount from the same ATM at the same time and I saved $200 over him.

It is VERY easy to get a 28degrees C card and to manage it on-line with no costs to you.

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6. Re: how to take money toe europe from australia

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Somerset, Australia
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7. Re: how to take money toe europe from australia

Thank you so much for taking the time to post this information, it has been a huge help, and I will certainly look into the CC that you have suggested.

Next on my list is telephone - ho hum!

Warm Regards

Sydney, Australia
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8. Re: how to take money toe europe from australia

Diz, it was over 12 weeks and Nick has since got a 28degrees and an ING Orange Everyday debit account with a $2.50 flat fee cash withdrawal from an ATM and no fees as a CC for purchases or account keeping fees. There are certainly advantages to having a CC and a Debit card which are fee free.

SisterRosie, I have no good answer to the phone thing. I use Travelsim which is cheap but very odd (long delays as the message goes over the satellite) but suitable for infrequent local contact in Europe (ringing the hotel) and cheap for contact back to Oz, but be prepared for the weird delay. You could take an unlocked mobile and buy a French SIM in France. Just be aware that the messages you get about the phone are in French, including the one that says you have run out of credit.

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Somerset, Australia
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9. Re: how to take money toe europe from australia

Lynn further to your comments - when you say put the card in debit, just so I get it right...if the max is say $5000, do I need to put say $7000 in cash on the card to be able to access $2000 as a cash withdrawal?

Sorry - but definately wouldn't like to get it wrong.

thanks

Loire Valley
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10. Re: how to take money toe europe from australia

I travel a lot - an awful lot. Far too much, even. I live in France. I use my ordinary bank debit card wherever I am, and my ordinary (UK) mobile phone wherever I am.

Because I am a person who doesn't feel the need to communicate my every move every second, my mobile phone bill is usually less than £1 a month. Sometimes when I am Australia it has been as high as £20 over a 6 week visit. I send texts rather than call, and if I do call, keep call length to a minimum.

My bank fees? Whatever system you go by you will get slugged, and what works for one person won't work for another, and it always depends on what day you take money out (exchange rate), how much you take out, and who owns the machines you take the money out of (some machines will charge you a fee, and some banks will charge you for taking money out of a machine that isn't linked to theirs by agreement).

If you want to spend your whole holiday searching for the "right" ATM machine that's your perogative, but quite frankly, if you're paying $5000 for a trip O/S what's the odd extra dollar here or there?

And yes - I do always pay for my own travel, and no, I am not rich enough not to worry about pennies. It's just than an O/S trip can be stressfull enough without having to worry about the odd dollar here or there

Edited: 6:02 am, February 08, 2011
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