Credit card or travel card?


#1

Hi guys,[br]I guess this is more for the people who have travelled through Europe already and maybe to the Kiwis more?[br]I’ve just been trying to find some money/currency/card options and I’m not too sure what too do?[br]1) Upload and use my Credit card (Visa) - but I hate the fees incurred all the time[br]2) Get myself a Travel card from my bank which is like the Travelmax card or whatever its called? hmm…you upload your currencies onto it at the rate that its at when you convert it…has anyone used this before and are the fees less than the credit card??[br][br]help? :-[[br][br]Lina :)[br]Summer fun + sailing[br]May 15th


#2

Someone else just wrote a post about this, which I responded to earlier. This is what I said:[br][br]Is this the one where you lock in the current exchange rate? I was thinking of getting one because then you know exactly how much you have in the local currency and exchange rate fluctuations don?t matter, plus it?s cheaper withdrawing money from ATM?s… However with the rate so bad at the moment it seems pointless getting one as you won?t get a very good deal and then you?re stuck with it… What do others think? I think there is the Travelex card and the ANZ travel card which are both very similar, and you can lock in pounds, euros and US dollars.[br][br]I think the fee’s are less on the travel card, because you’re not paying a conversion fee (as the money is already converted), if that makes any sense! I’m not sure which option to go with either…


#3

hey guys, my partner and i had travelex card last year when we went to Europe. We go half our money in pound and another hlf on Euro’s. You are locked in to the conversion rate but if you have a while befoer you go you can keep your eyes open to a good day on the conversion rates. you get two cards so you have a spare if you loose it and when you use it at atm’s we grabbed out our budget for a few days so we werent with drawing all the time! We though the cards we awesome. you can check your balance on the net like net banking and you can recharge very easy!!! the only thing is you cant use it for eftpos!! we will definately use them again when we go to Egypt this year! Hope this helps! [br]Jo


#4

That?s a great help, thanks! I guess I?m just worried about getting it and then the exchange rate improves or something and I can?t do anything about it! Though I guess it won?t change that much… Do you have to pay for the card initially or anything? And if you ?top up? mid-trip does it still convert to the rate that you had originally? Once the trip is over and you still have money on the card can you transfer it back into your normal bank account in Australian dollars? And last question, if you?re in a country that doesn?t use euros, can you still withdraw from ATM?s using the travelex card, and it just comes out in the local currency? Sorry for all the questions!!


#5

hey ive been looking at cards and the best deal i have seen so far is the new ones from national bank. you can use it like an eftpos card and you dont have to pay transaction fees on somethings. the cash passport looked good to begin with but you cant use it like an eftpos, you can only withdraw money, i dont want to be carrying around alot of cash


#6

Hey Guys! Just wanted to let you know that the Travelex cards have been updated, so you can now use eftpos (VISA) with no fee. if you take money out at an ATM, there’s a $3.75 withdrawal fee, so best off using visa when you can to avoid extra fees. you can reload the card on bpay or via sms… theres a 1.1% load fee. you can choose the load currency, and that days exchange rate is saved for all future loads. if for example, you have a Euro card, but you’re in NZ and you want to withdrawal money, you dont get charged conversion fees or anything like that, but the value of your money will be based on that days exchange rate. i’ve chosen travelex for my money overseas, so hopefully it works well for me! i think it can be quite cheap as long as you do minimal ATM withdrawals… :)[br][br]the travel bug has bit me


#7

Hey ya guys![br]Thank you all for the thoughts and advice![br]I haven’t sorted out what I’m doing yet still…need to do a bit more research on those National bank travel cards…my friend did say they do have quite a few fees incurred though…so have to compare that and my credit card…which I’m not sure about using too much…with the unknown currency conversion and fees each time I use it…at least the travel card I will know right? [br]hmm…I think our dollar is finally getting a little better! woot wooh! thank goodness! touch wood! :D[br][br]Lina :)[br]Summer fun + sailing[br]May 15th


#8

hey i just got the national travel card today. got a surprise cuz the euro increased before loading it :). i havent found any hidden costs yet and i have done a bit of research. heres the website for the fees and limits if u want it. http://www.mytravelcard.co.nz/fees.html


#9

Hi Lina,[br][br]I’ve got myself two Travelex Passport Accounts. Basically you open the accounts up in the currency you need, eg: Euros & Pounds (what I have), then you exchange your Australian dollars into these accounts and convert them on that days exchange rate. You are then loading these account up in the currency held.[br][br]You get 2 cards per each currency account, you have the choice of normal ATM card or VISA Debit Card.[br][br]As the money is already exchanged in there currency, when you withdraw the funds out in these countries that hold that currency, there is no worry about exchange rates as this process was already done upon you loading them up already. The only fees you need to worry about is the actual ATM fees involved, in which you can budget your usage to save you money.[br][br]Another thing that is good about knowing how much of there currency you have is that when you are spending your money over there you are using there dollar, so if you have $2,000 euros in your account, you know you have $2,000 euros, unlike if you kept the funds in Australian dollars and withdraw that way, you wouldn’t have an idea how many Aussie dollars you have remaining with all the conversion fees and charges.[br][br]Look up the Travelex Cash Passport Accounts, they come in 8 different currencies.[br][br]Cheers[br][br]Craig[br][br]Spirit Of Europe 12th May 2009[br][br][br][br][br][quote]Originally posted by lennychick82[br]
Hi guys,[br]I guess this is more for the people who have travelled through Europe already and maybe to the Kiwis more?[br]I’ve just been trying to find some money/currency/card options and I’m not too sure what too do?[br]1) Upload and use my Credit card (Visa) - but I hate the fees incurred all the time[br]2) Get myself a Travel card from my bank which is like the Travelmax card or whatever its called? hmm…you upload your currencies onto it at the rate that its at when you convert it…has anyone used this before and are the fees less than the credit card??[br][br]help? :-[[br][br]Lina :)[br]Summer fun + sailing[br]May 15th[br][/quote]


#10

Hi Tara,[br]Thanks for that! Yeah, I’m thinking I really should go check it out and load one up. For the National Travel card can you load 2 currencys into one card? ie pounds and euros? Yeah, I heard our dollar went up too…wonder if it will keep going up? :slight_smile: thats me hoping.[br][br]Lina :)[br]Summer fun + sailing[br]May 15th


#11

Hi Craig,[br]Thanks for the helpful info. I think that might be similar to the National Bank Travel card that we have here. So will research a bit more…and hopefully our dollar goes up a bit more. :)[br]You’re right, since the conversion is already done it would be handy to budget better too.[br][br]Would anyone know how much I should load (euros and pounds) onto the card for my 7 weeks over there? 26 days of that is on the Summer fun + sailing tour though…so guess a bit of that is covered for?[br][br]Thanks guys![br][quote]Originally posted by craigy30[br]
Hi Lina,[br][br]I’ve got myself two Travelex Passport Accounts. Basically you open the accounts up in the currency you need, eg: Euros & Pounds (what I have), then you exchange your Australian dollars into these accounts and convert them on that days exchange rate. You are then loading these account up in the currency held.[br][br]You get 2 cards per each currency account, you have the choice of normal ATM card or VISA Debit Card.[br][br]As the money is already exchanged in there currency, when you withdraw the funds out in these countries that hold that currency, there is no worry about exchange rates as this process was already done upon you loading them up already. The only fees you need to worry about is the actual ATM fees involved, in which you can budget your usage to save you money.[br][br]Another thing that is good about knowing how much of there currency you have is that when you are spending your money over there you are using there dollar, so if you have $2,000 euros in your account, you know you have $2,000 euros, unlike if you kept the funds in Australian dollars and withdraw that way, you wouldn’t have an idea how many Aussie dollars you have remaining with all the conversion fees and charges.[br][br]Look up the Travelex Cash Passport Accounts, they come in 8 different currencies.[br][br]Cheers[br][br]Craig[br][br]Spirit Of Europe 12th May 2009[br][br][br][br][br][quote]Originally posted by lennychick82[br]
Hi guys,[br]I guess this is more for the people who have travelled through Europe already and maybe to the Kiwis more?[br]I’ve just been trying to find some money/currency/card options and I’m not too sure what too do?[br]1) Upload and use my Credit card (Visa) - but I hate the fees incurred all the time[br]2) Get myself a Travel card from my bank which is like the Travelmax card or whatever its called? hmm…you upload your currencies onto it at the rate that its at when you convert it…has anyone used this before and are the fees less than the credit card??[br][br]help? :-[[br][br]Lina :)[br]Summer fun + sailing[br]May 15th[br][/quote][br][/quote][br][br]Lina :)[br]Summer fun + sailing[br]May 15th


#12

hey the cards are seperate so you have one for pounds and one for euros. im doing 8 weeks touring and hoping to have about 4000 euro and 1000 pounds but thats me dreaming lol lets just hope the dollar keeps going up :slight_smile:


#13

I think I?m going to do the same… Get the travelex card and put about 4000 euro ($8000 Aus) on it which I?ll use to withdraw at ATM?s, take some euro?s over with me in cash, and then keep about $2000 on my normal debit card to pay for things (i.e. shopping, restaurants, etc).