Best Way to Access Money Overseas

Ljohhny on 20/08/2017 - 16:51
Last edited 23/08/2017 - 03:31 by 1 other user

Hi, I'm going overseas in a couple of months and was wondering what's was the best way to access my money. I am a student so a credit card is out of the question.
I was looking at the Westpac under 21 card as there is free withdrawals from certain ATMs and there is no fees. Is this the best or should I just look at a travel card. If so which.
Thanks

*Edit
Thanks for all the advice, but I forgot to make this clear. The Citibank debit won't help as I am a minor. Most of the cards on the list won't be applicable to me.

Financial

Comments

  • dcep on 20/08/2017 - 17:08
    +21

    citibank plus debit

    • [Deactivated] on 20/08/2017 - 22:33
      +1

      Thís. 9000%

  • Youfah Mizzum on 20/08/2017 - 18:39
    +7

    Citibank Plus debit card.
    Get onto it now so you have it well before travelling. And tested it at a local ATM.
    Plenty of info about this card in the interweb.

  • Randxyz123 on 20/08/2017 - 18:54
    +7

    Do you not understand how to use the search function? I swear this question comes up every month.

    Anyway as others have said Citibank plus debit card would be your best bet. It takes 2-3 weeks to get it sorted out. This whirlpool site https://whirlpool.net.au/wiki/citibank_plus_transaction_acco… has a lot of information about it and some of the issues with it.

    Be aware of using a debit card that hotels or hostels may take a deposit and it can take 5 Australian working days to go back onto your card. That means if you depart your hotel on Thursday night Aussie time your deposit could take up to the following Wednesday to reappear.

    Transferring money takes 3-4 Australian working days.

    As well as the debit card take an emergency backup card (i.e. your normal bank's travel money card). Keep it in your bag separate to your wallet. If you loose your wallet most banks allow you to transfer money instantly to that card so you won't be SOL overseas.

    Commbank does a student credit card that might be worth looking into for emergencies.

  • JimmyF on 20/08/2017 - 18:57
    +1

    Be aware, that just cause a card claims 'No fees for overseas purchases' they mean BY them.

    This doesn't stop the ATM holder adding a fee on from their end.

    Also be aware using a credit card, some ATMs will treat this as a 'cash advance' so you could be in a world of pain there.

    I find it best to use a PURE EFTPOS card or debit card……

    • CLoSeR on 21/08/2017 - 08:28
      +1

      Travelled extensively using Citibank Plus Visa Debit card (Now a Mastercard) and never been charged a fee by the ATM owner. I have heard of it occurring in Indonesia and Thailand but never had a problem myself.

      First I've heard about this so cash advance nonsense, anything to back this claim? Citibank will even advise you to select Credit when using an overseas ATM.

      • retiredfeline on 21/08/2017 - 08:44
        +3

        It's for credit cards. The advice to select credit at the ATM is to ensure you use the correct system, credit and debit cards share the same infrastructure. Your issuer knows what kind of card it is.

        • CLoSeR on 21/08/2017 - 09:10

          Agree.

      • JimmyF on 21/08/2017 - 12:01
        -3

        Just cause you haven't had it, doesn't mean its nonsense. I was advising the OP to look into it some more.

        But sure, just for you

        Asia aka Thailand as you say is well known for 'charging a fee'for overseas cards, approx 220 baht aka $9-10AUD last time I was there there.

        While in Japan I didn't have my EFTPOS card, it died just before I left on a trip and the new one didn't arrive in time. The ATMs over there wouldn't let you select any account (know issue) and just spat out money from the default account, as it was a REAL 'credit card' (not a debit credit like yours) so it was classed as a cash advance.

        Had something similar with ATMs in Sweden too. Used the wrong card once. Whoops cash advance on the credit. Again no choice.

        BTW you are aware that a "Citibank Plus Visa Debit card" isn't a real credit card, it doesn't have a line of credit, which means no 'cash advance' fees like a REAL credit card.

        • JimmyF on 21/08/2017 - 12:16
          -3

          @CLoSeR:

          Well I bank with the big 4 and the ATM charged a fee.

          Your reported cash advance issue is a result of your using the wrong card

          FACEPALM

          Dude, go back to what I said in the first post. Which was

          Also be aware using a credit card, some ATMs will treat this as a 'cash advance' so you could be in a world of pain there.

          So why are you saying I'm using the wrong card when I was warning the OP of this, which is now what you're saying. hahaha don't troll me.

          If you use a creditcard to withdraw in Australia it will be treated exactly the same.

          No, I put my credit card into the ATM, it asks what account I want to withdraw from, Credit/Sav/Chq. Depending on what I push, depends on where the money comes from. Same at EFTPOS machines.

          Some of us have 'linked' accounts. This way I only need ONE card to access my money, which is also a REAL credit card.

        • theHMASfriendship on 21/08/2017 - 12:42
          -1

          I was advising the OP to look into it some more.

          I'd take your own advice.

    • theHMASfriendship on 21/08/2017 - 09:04

      The ATM won't "treat it as a cash advance"? It's up to your card issuer to decide whether it's a cash advance or not.

      They may still charge an atm fee though, but it will be the same for your non-visa/mastercard debit card.

      • JimmyF on 21/08/2017 - 12:05
        -1

        See above, Sweden/Japan ATMs didn't give you a 'choice' to what account to withdraw from, I was using a REAL credit card with linked chq/sav accounts, but wasn't given a choice and it went straight onto the default and as this was a real credit card, this is a cash advance.

        Hence why using a pure EFTPOS (or as naysayers above are using) a DEBIT credit card, which is linked to your real cash, and not a line of credit is a better idea to save this happening.

        • theHMASfriendship on 21/08/2017 - 12:40

          So they will default to the "credit" account, which specific for the Citibank plus debit card isn't a cash advance.

          I haven't tried my Citibank card personally in Japan but I have tried my ING visa in Japan and it was not a cash advance. I have used my Citibank plus card to withdraw cash through many European countries by selecting "credit" 100% of the time, and it was not a cash advance.

          The ATM does not decide whether your transaction is treated as a cash advance, ultimately your banking institution does.

          Just because your particular banking institution did doesn't mean they all do.

    • retiredfeline on 21/08/2017 - 13:11

      Actually an Australian EFTPOS only card will be useless overseas. EFTPOS (the Australian system, not the generic acronym) is only for local transactions.

      While your card is a CC, a savings account access card and and an EFTPOS card, I'm pretty sure it's not a CC and DC at the same time. So you should have never tried to use your CC in an ATM because any withdrawal would be a cash advance.

      The ATM side of the coin is that in some countries like Japan, despite the logos on some machines, they only work with local cards. In such a case, the bank is using the Visa/MC infrastructure to conduct national transactions, but not accepting foreign cards.

      • JimmyF on 21/08/2017 - 13:27

        Actually an Australian EFTPOS only card will be useless overseas

        yeah nah, turn your Australia EFTPOS card over and see those pretty logos on the back, that are not your banks? They mean something. Like the plus logo or the Cirrus logo ;)

        I'm pretty sure it's not a CC and DC at the same time

        depends on what button I push at the time. My credit card is a credit card when I push credit button or tap the card, and its a debit card to my sav/chq if I insert and push sav/chq button.

        So you should have never tried to use your CC in an ATM because any withdrawal would be a cash advance.

        Why? I do it all the time in Australia, insert my CREDIT card into the ATM, asks what account. Push sav/chq and do a withdrawal. Money comes out of my sav/chq account that is linked, NOT my credit account.

        Linked accounts to one card. Saves carrying lots of cards around ;)

        • retiredfeline on 21/08/2017 - 13:52

          What you have is a multiuse card. The are some cards like credit union ones that are only for EFTPOS. The EFTPOS part of your card only works locally. That why you were charged like a credit card when you tried to withdraw money overseas. You maybe expected it to use EFTPOS to access your savings account overseas? Nope, no go.

          As for your objection, here's the sentence again with the word I missed since you seem to take it very literally:

          So you should have never tried to use your CC in an ATM overseas because any withdrawal would be a cash advance.

          Ask your card issuer if you don't believe me, I'm sure they will tell you that any overseas ATM transactions go through the international credit/debit card system and will be charged according to whether it's a CC or DC. This is regardless of whether you have other accounts linked to it. This seems to be a big deal in your eyes, but we're talking specifically about getting money overseas, so what counts is whether it's a CC or DC as you correctly pointed out.

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