Hi,
I will be going to New Zealand for a holiday next month and as someone who doesn't travel a lot, I was wondering where I should exchange currency before I go.
I have also read that it might just be cheaper to withdraw cash from ATMs when I'm there. I have a Citibank Platinum credit card and an ING debit card if that makes any difference.
Any suggestions would be greatly appreciated.
Thanks!
Thanks for the reply. Unfortunately I don't have a Qantas card. I've just read the T&Cs on my Citibank Platinum card and it says that International Transaction Fees are 3.4% of the transaction amount. I'm thinking if I use a currency conversion place they'll probably charge me that much anyway. Would I be right in thinking that?
Ive tried a quick google and cant find much. I assume you mean a citibank platinum credit card? The 3.4% transaction fees will be on top of the conversion rate that they will give you. The conversion rate will change every day (probably even more frequently) and probably wont be very competitive . In addition if it is a credit card if you do happen to get card scammed then they will be able to use your whole account balance. Given that its NZ it is probably a much lower chance than some other countries but still something to be wary of.
If you want to bring Cash, I was told the best place to exchange is at those "UAE exchange kios" .. They have favourable rate… U might want to check that
The answer to almost anyone who wants to spend cash overseas is "Citibank Plus Transaction Account". You can read about it by searching here on Ozbargain or Whirlpool.
Awesome, my offset account is a Citibank Plus Transaction Account. Thank you for the tip! I'm guessing ATM withdrawals using this card is the way to go!
Yep! Citibank don't charge any foreign exchange or ATM fees on the card. The only costs will be whatever the local ATM owner charges you to use their machine, but I think you can find free ATMs in NZ (possibly all Westpac ATMs, for example). More info
Youll likely get charged an arm and a leg if you just withdraw from your card when youre over there. When i went to england i used my Qantas card which was easy to load up and fairly reasonable exchange rates.