US Travel and Exchange Rate

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  paraneoplastic on 12/10/2019 - 10:13

  Use the travel adventures. Don't ever take cash out of ATM (as it increases your risk + fees), also might be worth while getting the the supp card for it ( in case you lose the main card)

  I used mine extensively in europe, middle east and the US with no problems

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  87percent on 12/10/2019 - 10:18

  ANZ travel card vs 28 degrees? Which is better?

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  jimbobaus on 12/10/2019 - 10:56

  +5

  ING and Citibank cards allow you to withdraw cash without fees (ING has conditions to get the fee free withdrawals etc)

  Travel cards traditionally have an awful exchange rate … sometimes as bad as airports and while locking in can be a winner it can also screw you if the rate increases.

  Citibank and ING exchange rates are some of the best around, they use the VISA rate as opposed to setting their own like ANZ, CBA etc do.
  I have found that its almost always better to use Citibank / ING when travelling and we do a lot of traveling every year.

  as you will be dealing in US Dollars… consider getting a Citibank everyday card and using that.

  Also : loose a travel card… GONE
  Loose an ING or Citibank card…. new card at your hotel within 48 hours :)

  • 

    trex on 12/10/2019 - 11:12

    Very true on awful exchange rates on a travel card. In a recent trip to Singapore, I compared the daily exchange rate for transactions on my regular NAB credit card to the exchange rate for NAB’s travel card. Difference between rates is more than 5% sometimes up to 8%. I would suggest withdrawing cash and changing it to USD now rather than later as the AUD will decline further. Shop around for the best conversions rates.

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    MayhemVC on 13/10/2019 - 00:31

    +1 for ING

    I recently used mine when travelling to Japan, Malaysia and Singapore.
    ING refunded all transaction fees and gave GREAT rates.
    I am a MASSIVE tightarse and in Tokyo was withdrawing cash from an ATM in 7-Eleven.

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  Stalker on 12/10/2019 - 11:08

  Timely post as I'm travelling to the US with the family in Dec. At this stage I just have St George Visa and MasterCard, and a Gold Corporate Amex if needed.

  If I am understanding the above right I should look to get another Credit Card (eg. from Citibank or ING) specific for travelling to the US to help save on international conversion and withdrawal fees? If so, which one is the best option? And is this a good opportunity to take advantage of a new credit card sign-up offer?

  Thanks!

  • 

    toniyellow on 12/10/2019 - 11:36

    +2

    There are a few options. Id get a debit card for withdrawing cash and a credit for paying for hotels etc.

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

    • 

      Stalker on 12/10/2019 - 12:55

      Thanks heaps!

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  jonathonsunshine on 12/10/2019 - 13:16

  +1

  I went to NY at the start of the year, I left getting an account too late and used a moneyEX card or something rather, regret it, I have an ING account. ATM even at banks can be really expensive, I paid $5 USD at a Wells Fargo.

  US ATMs are wild, you can specify what notes you want, $200 in 2 fifties, 2 twenties, 4 tens and 20 ones etc.

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  Stalker on 12/10/2019 - 13:19

  The ANZ Rewards Travel Adventures Card Deal looks good - https://www.ozbargain.com.au/node/484271

  I'm sold. :)

  • 

    RockyRaccoon on 13/10/2019 - 02:49

    +1

    You are dealing with a bank, they don’t give money away. Read the above posts. FF points, no transaction fees etc can easily recouped by the bank when the exchange rate margin is high.

    The proven cards for travel are Citibank, bankwest and 28 degrees.

    Btw for the op, when in US atms at 7/11 are usually Citibank atms, so are plentiful and cheap (no fees, one of best exchange rates) and are easy to find.

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  Eeples on 13/10/2019 - 01:54

  Citi smart wallet, I think, let’s you lock in a rate (as you ‘buy’ the foreign currency when you deposit in to the wallet of that particular currency).

  At least I think that’s how it works…. I’m not sure.

  The wallet I think comes with your citibank plus debit account.
  I can see it on the app.

  Ps. Another way to lock in rates is to pre pay hotels; certainly makes budgeting easier.

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  coffeemornings on 14/10/2019 - 19:55

  Thanks everyone!

  We have actually already pre-booked/paid our hotels/domestic flights. So, all we are really concerned about is the daily expenses. It sounds like having a Citibank debit card might be useful, withdrawing money along the way from 7-11s Citi ATMs, rather than travelling with all the cash or putting that in a travel money card.