Hey Heading to the US of A in November. Looking to see what I can do to reduce costs of foreign exchange rates and stuff like that. Gizmodo had a story on Ozforex travel card that looks good? lol
what do the travel Guru's say?
is it better to get a 28 degrees card instead? Is it an actual Credit Card or the same travel card as this Ozforex one?
anyways Thanks for your help / advice.
28 degress is a MUST !
I used to have NAB debit gold card, but NAB will terminate the card shortly.
I just got the 28 degrees card recently, is there a way though when using it as a debit card at an overseas ATM to find out what the ATM owner's fee is for the transaction? I have read if you transfer cash onto the card there's no cash advance fee for using it as a debit card.
It's never a debit card, it is always a credit card. For example if you use it to purchase goods, you get the usual up to X days interest free. That's a line of credit.
What you are referring to is loading it up with your own money beforehand so that any cash advances come out of that first. The ATM owner may or may not reveal the service fee, which is over and above any 28degrees charges (none per transaction). 28degrees has no control over that. Here a tip: If the ATM owner offers to convert it to Aussie dollars, do not accept. Let it post a transaction in the local currency and 28degrees will convert it, at a better rate.
You can check your current balance from 28degrees website; useful if you have a netbook or pad. (Maybe a little delayed.) The ATM cannot tell you your balance because the foreign bank doesn't have access to your account. It just posts a cash advance request and if your account happens to be in the black, good for you.
Thanks for that info Green Possum! Yeah sorry I worded it a bit badly, I meant loading it up with money beforehand so that cash advances come out of that first. Cheers :)
What's the next best option after the 28 degrees card?
Some of the bank cards have a transaction fee like $4-5, which is tolerable if you withdraw say $600 at a go. Naturally you still must preload credit cards.
Would you recommend the ING Direct everyday VISA debit card Greenpossum? From my research it has a $2.50 foreign transaction fee with no currency conversion fee. I assume on top of this would be the ATM owner fee (if applicable)
It's not too bad, in fact I had one as backup.
28 degrees is an actual credit card.