Best Cash/Card Option for Travel in USA

staceyasinme on 18/10/2014 - 17:44

I've seen a few posts on here regarding travel cards/cash passports etc but can't find one that has a definitive No. 1 option.
I'll be travelling to Hawaii/Florida in December and am looking for the best option available for accessing my financials.
I am looking to
- withdraw money from an ATM fee-free
- do the above with the best conversion rate
- make purchases on a card with the best conversion rate
- have anyone advise if i want to lock in money or get cash out before i go, and when i do that with the current rate

Last time i travelled i used the cash advance option on my 28 degrees credit card bu that's no longer available.
I am happy to go credit with the card in credit or debit in accessing my own money.

Any help, opinions, options would be great, thank you.

Travel

Comments

  • pebee47 on 18/10/2014 - 18:35

    Check out the Qantas Cashcard (MasterCard). Pre-load so your a/c can't be overdrawn; multi-currencies as you wish; 1 QFF point for every $ spent OS (1 for every$2 in Oz). Also works as check in card if flying Qantas.

    • staceyasinme on 19/10/2014 - 17:45

      Is this a credit card or cash card? Not sure what you mean in regards to the account being overdrawn?

      • momov3 on 19/10/2014 - 17:50
        +1

        It's like a Travel Card, a Visa card. You put in money initially and that is the max you can withdraw. You can never overdraw because if you spend all the money you initially put in, unless you replenished it online, there is 0 dollars to withdraw. Therefore, you can never be indanger of 'overdrawn' unlike a Credit Card, where you can spend over your card credit limit. Hope this helps. (BTW, Citibank Visa Debit works same way too - you put in your AUD cash in the account and cannot withdraw anymore than what is left) Hope this helps

      • matt_will_fix_it on 20/10/2014 - 06:10
        +7

        Qantas Cashcard is a terrible choice. There are fees and markup on the foreign exchange rates.

        Go for the Citibank card for no fees plus the actual exchange conversion rate.

  • pebee47 on 18/10/2014 - 18:37
    +1

    Pretty sure you can draw back the cash you've loaded. Used to take around 4 days to get funds loaded in but now down to next day

  • HAL on 18/10/2014 - 19:23
    +14

    All the info you need can be found at:

    https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…

    I use a 2 card strategy:

    • Purchases 28 Degrees (No fees + Mastercard conversion rate + 55 days interest free)
    • Cash withdrawal Citibank (No fees + Visa Conversion rate)

    "ATM fee free"? I assume you mean no international ATM withdrawal fee, the ATM owner may still charge you.

    I don't mean to be rude but I see this question appearing again and again on Ozbargain, the answer has always been on that Wiki page.

    • Almost Banned on 18/10/2014 - 22:02
      +2

      ^ This
      It keeps getting asked and this is still the best answer that I am aware of.
      28 degrees for use as a credit card.
      Citibank as an ATM card.
      The only issue is the exchange rate. The above combo does not 'lock in' the conversion rate but it does offer very good conversion rates (based on time of purchase).
      If you want to 'lock in' your rate you will need to look at a different option.

    • SBOB on 19/10/2014 - 10:47
      +1

      Yep.. ^this or replace the 28degree card with something like the Bankwest platinum zero and get the same benefits plus free travel insurance if you use it to buy your flights (and a better website/app)

      • gryphondarks on 19/10/2014 - 11:37
        +1

        Agreed. I too was vexed upon learning that 28deg now charged fees for cash advances. Having said that, it might nevertheless serve as a cheaper option than bank withdrawals and other old school nonsense.

        As @HAL and @blaircam have said, 28deg for all card purchases and Citibank Plus debit card for overseas ATM withdrawals is the winner hands-down. OP, if you're flying out in December, there is still enough time for you to apply for CitiBank Plus and get the account, card, and PIN before you leave. I just got mine and the whole thing took 2-3 weeks. Hope that helps!

        • staceyasinme on 19/10/2014 - 17:50

          Thanks might jump on and grab one now :)

        • ilikeradiohead on 21/10/2014 - 16:51

          I ordered my Citibank 7 days before I was flying out to the US. Managed to get the card before I left but had to get my mum to email me the pin number. Definitely give it at least 2 weeks. If you just use this card also give about a week if you're doing a bank transfer between your normal bank and you new Citi account as the transfers are a bit slow.

      • RockyRaccoon on 19/10/2014 - 16:07

        SBOB

        The Bankwest platinum zero doesnt give you anywhere near as good an exchange rate as does the28 degrees card. So you pay for the "free" insurance…

        • SBOB on 19/10/2014 - 16:11
          +1

          The Bankwest platinum zero doesnt give you anywhere near as good an exchange rate as does the28 degrees card. So you pay for the "free" insurance…

          the platinum indeed does give you as a good a rate… there is no forex fee on the 'platinum' level, however the lower gold and silver levels are hit with a fee
          From the bankwest site: "if you’re eligible for Platinum, enjoy extra benefits such as no foreign transaction fees on online and overseas purchases"
          Also:
          - an example of discussions here: http://forums.whirlpool.net.au/archive/2296816

        • RockyRaccoon on 19/10/2014 - 18:05

          @SBOB:

          You might want to be clear.

          I am not arguing with you, but trying to point out that you maybe paying more than you need.

          Its not the forex fee. Its the rate the bank uses for exchange. You will find that the bankwest card's rate isnt as favourable.

          Eg from their own PDS

          Visa transactions that are made in
          United States dollars, Canadian dollars, New Zealand dollars, Singapore dollars, Pounds sterling, Euros and Japanese yen Are converted into Australian dollars;

          in any other foreign currency into United States dollars and then converted into Australian dollars

          Which means in the latter, you are paying two conversion rates vs one on Citibank

        • SBOB on 19/10/2014 - 18:17
          +1

          @RockyRaccoon:

          Fair enough.. Have never seen that pointed out on discussions about the card previously… And all my overseas purchases are in common currencies such as usd or eu, so for me it's an exact copy of the 28degree card (which I also own)
          I wonder what the difference in cost would be, as it's just the Mastercard forex rate so I would be pretty confident the difference would be very negligible (as it's not a buy sell usual forex spread you're paying on the conversions)

          The better Web interface and free insurance benefits of the Bankwest alternative is a no brainer to me if you pass it's income requirements (though I'll start using the citibank signature version once the stop giving me interest free balance transfers on it)

        • Kenb0 on 20/10/2014 - 00:52
          +1

          @RockyRaccoon:

          You'll find that this happens with mastercard based credit cards, which include the 28degrees card, which is what SBOB's point was in the first place. The Bankwest Platinum Zero will give you the exact same exchange rate as the 28 degrees card for credit purchases, they're both based on mastercard. And like you said, if not one of the listed currencies, are converted into USD first, then AUD. But at the rates that they're converting at, which is close to interbank wholesale, its negligible if they do one extra conversion. The main point being that you'll get the same exchange rate whether you use the 28degrees or the BW Platinum Zero.

          from the 28 degrees card FAQS:

          The foreign exchange rate is calculated by MasterCard International on a daily basis according to daily foreign exchange fluctuations. The conversion will consist of two calculations if the transaction is made in foreign currency – it will first be converted to US dollars and then converted to Australian dollars for listing on your transactions. You can calculate the conversion rate using the MasterCard currency conversion tool

          Now, if you're comparing to the Citibank Plus card, then yes, you will get different conversion rates but thats only because Citibank Plus uses Visa rates, and the 28degrees/BW platinum cards use Mastercard rates, but the difference between the two will usually be negligible. On one day, the Visa exchange rates might be better, but the next day, the Mastercard one may be better.

        • RockyRaccoon on 20/10/2014 - 10:20

          @Kenb0:

          Thanks, that maybe the case, I am not 100% sure.

          I know when I travelled with a friend in the US they consistently had higher costs of cash out with their Bankwest card.

          Maybe it was due to not having to pay withdrawal fees at 5500 7/11 stores in the US with Citibank, while Bankwest cards dont have the name network of free ATM"s

          Given this its the one to go with in the US. As much as I dont like Citi as a bank

        • SBOB on 20/10/2014 - 10:41
          +2

          @RockyRaccoon:
          "had higher costs of cash out"

          The 28deg and Bankwest cards are used for CC purchases, not cash out at an atm…

          CC for CC payments(e.g. 28deg/bankwest platinum etc), Citibank Plus for cash withdrawals

        • Kenb0 on 20/10/2014 - 10:55
          +1

          @SBOB:

          The 28deg and Bankwest cards are used for CC purchases, not cash out at an atm…

          ^^^^ that…

          think some wires got crossed somewhere here. SBOB wasn't comparing exchange rates between Bankwest and Citibank, was comparing exchange rates between Bankwest Platinum and 28 degrees.

          No one was debating the merits of withdrawing cash using Bankwest Platinum vs Citibank, that's a no brainer, regardless of whether visa or mastercard rates are better on that particular day. Bankwest Platinum(and 28 degrees) both charge cash withdrawal fees from an ATM, while Citibank Plus doesn't.

        • gimme on 20/10/2014 - 11:12
          +2

          Excuse my ignorance but isn't the exchange rate determined by Mcard so 28D and BW Plat should technically have the exact same rate?? (as both have no intl fees)

          PS: I'm talking about purchases not cash advance etc

        • Kenb0 on 20/10/2014 - 11:31

          @gimme:

          No ignorance there, you're correct :)

    • staceyasinme on 19/10/2014 - 17:47

      No i hadn't stumbled across this, thank you. Will jump on it now.

      Yes to the ATM question, and bugger to the 28 degrees. I actually shut down my old card because their fraud dept wasn't that great and their customer service kinda sucked too.

      And just realised i answered the wrong person's Q and now can't delete. Bugger.

  • momov3 on 19/10/2014 - 17:26
    +5

    Just been back from the same after 30 days. 28 deg is superb for credit, never failed me once and so easy to use with a PIN, accepted everywhere and it uses the daily exchange rate conversion, you are at the exchange rate mercy. But one day you win, another you may lose. It all equals out. There is no other fee imposed by the bank, what a nice change.

    Re a Cash/Visa Card - I contributed once to this forum about my annoyance with Citibank during the application period and all went wrong. Those were teething problems which may have been my bad luck with them. Now I choke back on my words (choke choke) It was a superb card to have in the US. Always worked in every ATM. Make sure you press 'Savings' as long as the ATM machine has the VISA sign on it. Be aware though:

    No ATM transaction fee (absolutely $0) only if you withdraw from a Citibank ATM, and there are surprisingly quite a few in the US if you know where to find them !!
    Elsewhere, you will almost certainly be charged the USD $3 fee by that foreign ATM machine, whether it be another bank/ your hotel's ATM / shopping mall, expect this $3 charge . Caught me by surprise and I ended up paying that fee most times.

    Also, unless it's a Citibank ATM, they will not issue more than $200 USD each time, so annoying considering you pay a $3 fee, the only ATM that allows you to withdraw a large amount is Citibank. So if you find a Citibank, withdraw as much as you think you need esp you don't get charged fee. Try and overload the account with a lot of AUD so as to never run out, rather than have to replenish funds via internet overseas, it will take 24-48 hrs to reach the account from another external one. The best part is you come home and unused AUD cash stays in your Visa Plus Savings A/c which you can easily transfer into your other high interest savings a/c whether it be Citibank or an external one. The card allows you to pay eftpos anywhere with a PIN.

    • staceyasinme on 19/10/2014 - 17:52

      Where were you in the US if you don't mind my asking?

      And do citibank have an easy ATM locator or is it very much luck of the draw?

      • SBOB on 19/10/2014 - 18:02
        +2

        Any 7-11 is a good place to start… Also Google will show you citibank ATM's if you search for them

      • momov3 on 19/10/2014 - 18:05
        +1

        https://online.citibank.com/US/GCL/citilocator/flow.action

        If you have your iphone and anywhere in the USA,you can type the zip code or suburb /city you are in, and it should tell you the nearest Citibank. All the big cities have Citibank, but whether you happen to be near them is another question. NY city itself has a few, 34th Street near Empire State building, also the other east coast cities. But even if you can't find Citibank, a $3 ATM fee is less than the extra other fees charged by our big banks?? (On top of foreign exchange conversion fee)

      • gryphondarks on 19/10/2014 - 20:25
        +3

        Citibank has a surprisingly good Android app. I've used it for the last week and it has an ATM locator on it. Moreover - this is a particularly good feature - the app is also able to generate an automatic six digit code (AKA "one time pin"). This means that you can be overseas, and buy something, or modify your account, or whatever - and you won't need to have your mobile phone on roaming in order to receive an SMS from your bank. You simply let the app generate one for you, offline. To me, this is fantastic.

        Citibank's online banking and app have both copped a lot of flack on the forums, and I was wary of this before I got the account. But coming from HSBC, Citi is leaps and I mean leaps ahead. Don't know what all the fuss is about. Sure it might not be as good as the big four banks, but as long as it does the job! And don't even get me started on HSBC's token system for generating one time pins… When I took it out of my wallet a few days ago, the wallet's thickness decreased by a third!

    • ilikeradiohead on 21/10/2014 - 17:01

      Also works with affilliate/subsidiary ATMs. Eg Banamex in Mexico. When I was in Malaysia earlier this year I couldn't find a citibank in the town I was in, but when I used a Maybank atm I wasn't charged any withdrawal fees, which was a pleasant surprise.

      Also the citibank atm finder in the app also covers affiliate atms like Banamex.

  • fatwombat on 19/10/2014 - 22:55

    If you are in the US for a few weeks, you could open a Citibank basic checking account (with ATM card) in the US with your passport (may need one more ID). Before you go, open a Citibank Plus Transaction account in Australia. Once you open your Citibank US account you can Global Transfer funds to your Citibank US account and you withdraw money with your ATM card in the US. The rates are much better than you exchange cash.

  • KSyd on 20/10/2014 - 16:43

    If you have a Westpac bank card, you can use that at Bank of America ATM's in the US without a fee.

    http://www.westpac.com.au/travel-centre/access-money-oversea…

    This would work well in Florida, and most of the US mainland, but not so well in Hawaii (where B of A doesn't have an ATM presence…)

    • Kenb0 on 20/10/2014 - 17:34
      +1

      You're correct that the Westpac bank card can be used in BoA ATMs without a fee for the use of the ATM, but you'll still take a hit on currency conversion, usually 3-4% on top of the Visa/Mastercard rate, depending which bank card you're using.

      The Citibank Plus debit card won't charge you the currency conversion fee.

  • ethereal88 on 20/10/2014 - 17:43
    -3

    Its called cash. $5K in 20's/50's mixed, $5K in 100's, rest on a travel card. Card this and card that pfffft.

    • SBOB on 20/10/2014 - 18:09
      +3

      and at what rate do you exchange your 'cash' at… ?? Pretty much guaranteed to be worse than what citibank/28deg/bankwest platinum do..
      And you're 'risk costs' are much higher.. wouldn't be unheard of to have things stolen while in a foreign country and $10k is a pretty big amount to lose..

      you're only advantage is locking in the rate at the time of conversion, but the same could be done with a pre-paid card (and most have the same conversion rate as cash if done prior to travelling)

      • Windows7forever on 20/10/2014 - 19:43

        I'd be extremely nervous walking around any US city streets with $10,000 cash on me. Violent Muggings are a part of life over there and you will become a victim.

        • ethereal88 on 21/10/2014 - 07:04
          -4

          Body armor and a .44 is also part of life. Big deal.

  • TheBatman101 on 20/10/2014 - 21:18

    www.cashpassport.com.au offers international ATM fee free. Just watch out for fees from the ATM operators themselves.

    • AlanJ on 09/12/2018 - 18:14

      Update in 2018: now a list of fees for international ATMS on this website. Ranges from $US2.50 to $US3.50.

  • Caped Baldy on 20/10/2014 - 21:43

    can anyone offer their experiences with the ING cards? I used mine in HK and Thailand to withdraw cash and was only hit with a $2.50 withdrawal fee. The ATMs did have withdrawal limits though.

    • rgr on 21/10/2014 - 07:12

      Which ATMs did you use? Was there anything else on top of the $2.50 fee from ING? I'm bringing mine along with me to use this week in South Korea.

  • [Deactivated] on 21/10/2014 - 16:03

    Are you driving much during your trip?
    The issue there is you have to always prepay for fuel, you cant pump and pay.

    You can prepay at the pump, but need to enter a ZIP Code so an Australian Credit/Debit card wont work and you'll always have to go inside, outside, inside and back out again.

    I recommend getting a prepaid gift card at a place like Chevron, and that enables you to prepay at the pump.
    Only issue is that you're stuck using a single brand of gas stations.

    As for cash, I take $1,000 USD with me and take out an additional $400 at a time as needed from Bank of America or Chase.

    • SBOB on 21/10/2014 - 16:23

      Australian Credit/Debit card wont work

      no option for pin number on a debit card?

      • [Deactivated] on 21/10/2014 - 16:51

        I presume you could use a PIN, but it required a five digit ZIP code of the billing address before it even gets to that stage.

        • RockyRaccoon on 21/10/2014 - 20:18

          11111 or 99999 is reported to work by some at Whirlpool

    • ilikeradiohead on 21/10/2014 - 17:04
      +1

      I didn't find it a massive issue when I was there, I generally just went inside, said '$50 on 8' and paid with my Citi Plus card. Just like the olden days haha

  • Lancerx on 21/10/2014 - 18:57
    +2

    EASY AS 123..get a citibank plus acc for your ATM withdrawal, and a BW credit card platinum or 28 degree for your CC transaction, and you're all set. I just did 60 days in Europe without bringing single AUD with me

  • ss1801 on 25/10/2014 - 01:39

    Fatwombat,
    I was under the impression that opening a Citibank basic checking account in US is almost next to impossible for visitor. Did you try it out successfully?

    • fatwombat on 25/10/2014 - 23:10

      Yes, I opened a Checking account Dec 2013 with my passport and Australian drivers licence. They give you a ATM/debit card. You need to keep a minimum $1500 in the account, otherwise $10 per month account keeping fees. You will need a Citibank Plus Transaction account and you can Global Transfer money to your US account. No fees whatsoever at both ends. Your money appears instantly in your Citibank US Checking account when you Global Fund Transfer.

  • fatwombat on 25/10/2014 - 23:13

    ss1801 - No ATM fees when withdrawing from US Checking account. If you decide not to keep your US checking account one day, transfer all your funds back to your Australian account (again, there is no fees with Global Funds Transfer) and write them a letter to close your account. It's easy!!!

  • ss1801 on 27/10/2014 - 12:39

    I had tried Global Transfer in other currency but in this context I believe Citi Plus ATM transaction is still the best way to get good foreign currencies value at time of withdrawal. No other plastic beats this.

    p/s I like the Checking Account in US as I never thought it's possible for visitors.

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