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#1
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cost of using EC/Maestro cards at ATMs in NZ
Hi all,
I will be spending 6 months in Auckland this year and I am right now wondering what is the best way to access my money (I have an account with a german bank) over there. Particularly, what would be the cheapest way to get some cash from ATMs. Of course I could always use a credit card, but the total fees are likely to pile up considerably... ;-) At http://www.new-z.net/neuseeland/info/finanzen.htm (German only, sorry) I found the information that EC (EuroCard) / Maestro cards are regularly accepted by ATMs in NZ. Can anybody provide some information on the actual cost of using such a card in NZ? Thanks in advance, Christoph -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
#2
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cost of using EC/Maestro cards at ATMs in NZ
Hi Christoph,
the transaction fee depends on your local (german) bank. Three years ago my bank (LBBW / BW-Bank) told me 1%, at least 3 EUR. You can get up to 500 EUR per day, but some cash machine will only give you about 250 EUR. For more up-to-date information contact your local bank. In the end I was using my credit card as much as possible (visa or mastercard recommended, amex was not accepted in many low-budget-hostels) and got money with my maestro/ec-card. For finding a maestro cash machine have a look at: http://www.mastercard.com/atmlocator...d=211383182604 But it was no problem to find a cash machine in almost every town. hope this helps Gute Reise! Andreas |
#3
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cost of using EC/Maestro cards at ATMs in NZ
"Christoph Stark" wrote in message ... Hi all, I will be spending 6 months in Auckland this year and I am right now wondering what is the best way to access my money (I have an account with a german bank) over there. Particularly, what would be the cheapest way to get some cash from ATMs. Of course I could always use a credit card, but the total fees are likely to pile up considerably... ;-) At http://www.new-z.net/neuseeland/info/finanzen.htm (German only, sorry) I found the information that EC (EuroCard) / Maestro cards are regularly accepted by ATMs in NZ. Can anybody provide some information on the actual cost of using such a card in NZ? Thanks in advance, Christoph -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de As a general principle, you should only use credit cards for charging up accommodation, meals at fancier restaurants and such like. Don't use them for cash advances, or the banks will sting you. It's far better to use account access cards (often credit cards are linked in this way) - but then be careful using the machine that you specify savings or cheque account rather credit. Cash advances attract interest from the date of the transaction, whereas there is usually an interest free period on purchases until you either get the monthly statement or a payment period beyond that. You'll get hit with a fee every time you use the card so it's better to withdraw a reasonable amount each time rather than do frequent small amounts. Use machines inside or outside banks, or those with a bank logo on them. Beware of "multi-cash" machines, as found in some hotels arcades as they often charge more than banks. Check with your bank before you go. Regards David Bennetts Australia |
#4
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cost of using EC/Maestro cards at ATMs in NZ
NZ Bank machines will not charge you anything
BUT Your bank will. Typically between 1% and 3% (depending on the individual bank), plus a foreign ATM usage charge of between $3 and $5. Ask your bank they'll (reluctantly) tell you. It's still better usually to use a cash card in an ATM to get your NZ cash. The big plus is that they'll give you the wholesale interbank exchange rate for the day - always better than the retail rate, especially for currencies like the NZD which is not heavily traded. "Christoph Stark" wrote in message ... Hi all, I will be spending 6 months in Auckland this year and I am right now wondering what is the best way to access my money (I have an account with a german bank) over there. Particularly, what would be the cheapest way to get some cash from ATMs. Of course I could always use a credit card, but the total fees are likely to pile up considerably... ;-) At http://www.new-z.net/neuseeland/info/finanzen.htm (German only, sorry) I found the information that EC (EuroCard) / Maestro cards are regularly accepted by ATMs in NZ. Can anybody provide some information on the actual cost of using such a card in NZ? Thanks in advance, Christoph -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
#5
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cost of using EC/Maestro cards at ATMs in NZ
Open a New Zealand bank account. It will be very easy when you get to NZ.
Most purchases are done using EFTPOS cards rather than cash.. "Christoph Stark" wrote in message ... Hi all, I will be spending 6 months in Auckland this year and I am right now wondering what is the best way to access my money (I have an account with a german bank) over there. Particularly, what would be the cheapest way to get some cash from ATMs. Of course I could always use a credit card, but the total fees are likely to pile up considerably... ;-) At http://www.new-z.net/neuseeland/info/finanzen.htm (German only, sorry) I found the information that EC (EuroCard) / Maestro cards are regularly accepted by ATMs in NZ. Can anybody provide some information on the actual cost of using such a card in NZ? Thanks in advance, Christoph -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
#6
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cost of using EC/Maestro cards at ATMs in NZ
Yeah!! For 6 months that's right. Bring Euros sufficient for your running
expenses in Travellers Cheques - put 'em in a NZ Bank Ac - then you can use eftpos - which is totally fee free!!! "Neil Raines" wrote in message ... Open a New Zealand bank account. It will be very easy when you get to NZ. Most purchases are done using EFTPOS cards rather than cash.. "Christoph Stark" wrote in message ... Hi all, I will be spending 6 months in Auckland this year and I am right now wondering what is the best way to access my money (I have an account with a german bank) over there. Particularly, what would be the cheapest way to get some cash from ATMs. Of course I could always use a credit card, but the total fees are likely to pile up considerably... ;-) At http://www.new-z.net/neuseeland/info/finanzen.htm (German only, sorry) I found the information that EC (EuroCard) / Maestro cards are regularly accepted by ATMs in NZ. Can anybody provide some information on the actual cost of using such a card in NZ? Thanks in advance, Christoph -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
#7
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cost of using EC/Maestro cards at ATMs in NZ
I was thinking about that, too. However, in order to transfer some money to
this account I would either have to place a wire transfer, which is AFAIK rather expensive, or buy traveller cheques, as you mentioned. But IIRC there is a 1% fee for buying traveller cheques. I realize I may be nitpicking, but suppose I require EUR 6000 for my time in NZ (probably more), that's a total fee of 60 EUR. I'd rather spend that money in a restaurant than give it to a bank... ;-) I just found out that Deutsche Bank (not the bank where I have an account, unfortunately ;-)) cooperates with Westpac in NZ, and supposedly I am able to withdraw money from their ATMs at no cost using my german bank card. Is Westpac big, i.e., would I be ale to find a Westpac ATM all over NZ? Bye & thanks for your comments Christoph P.S.: By the way, what's eftpos? A Mate wrote: Yeah!! For 6 months that's right. Bring Euros sufficient for your running expenses in Travellers Cheques - put 'em in a NZ Bank Ac - then you can use eftpos - which is totally fee free!!! "Neil Raines" wrote in message ... Open a New Zealand bank account. It will be very easy when you get to NZ. Most purchases are done using EFTPOS cards rather than cash.. -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
#8
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cost of using EC/Maestro cards at ATMs in NZ
Hi!
A Mate wrote: NZ Bank machines will not charge you anything BUT Your bank will. Typically between 1% and 3% (depending on the individual bank), plus a foreign ATM usage charge of between $3 and $5. Ask your bank they'll (reluctantly) tell you. I just mailed my bank; let's see what they have to say. Anyway, I always thought that both my own bank and the foreign bank would charge me... ;-) Thanks for the info! It's still better usually to use a cash card in an ATM to get your NZ cash. The big plus is that they'll give you the wholesale interbank exchange rate for the day - always better than the retail rate, especially for currencies like the NZD which is not heavily traded. By chash cards you mean e.g. EC/Maestro? Bye, Christoph -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
#9
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cost of using EC/Maestro cards at ATMs in NZ
Hi David!
Thanks for the info. I just checked with my bank: * use a credit for paying stuff (restaurant, hotel, etc.): 1% fee for all countries outside of the EU * use a credit card to get cash: 1% + 2% (min. EUR 5,11) * use a Maestro Card for paying stuff: EUR 1,25 for each transaction * use a Maestro Card to get cash: 1% (min EUR 4,50) God, this sucks.... ;-) Alas, there's no free lunch, is there? ;-) David Bennetts wrote: As a general principle, you should only use credit cards for charging up accommodation, meals at fancier restaurants and such like. Don't use them for cash advances, or the banks will sting you. It's far better to use account access cards (often credit cards are linked in this way) - but then be careful using the machine that you specify savings or cheque account rather credit. Cash advances attract interest from the date of the transaction, whereas there is usually an interest free period on purchases until you either get the monthly statement or a payment period beyond that. You'll get hit with a fee every time you use the card so it's better to withdraw a reasonable amount each time rather than do frequent small amounts. Use machines inside or outside banks, or those with a bank logo on them. Beware of "multi-cash" machines, as found in some hotels arcades as they often charge more than banks. Check with your bank before you go. Regards David Bennetts Australia -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
#10
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cost of using EC/Maestro cards at ATMs in NZ
Hi Andreas!
Andreas Hallermann wrote: the transaction fee depends on your local (german) bank. Three years ago my bank (LBBW / BW-Bank) told me 1%, at least 3 EUR. You can get up to 500 EUR per day, but some cash machine will only give you about 250 EUR. For more up-to-date information contact your local bank. I have an account with Dresdner, same limits apply here, the fee is a little bit more expensive (min EUR 4,50), see my posting in response to David. In the end I was using my credit card as much as possible (visa or mastercard recommended, amex was not accepted in many low-budget-hostels) and got money with my maestro/ec-card. For finding a maestro cash machine have a look at: http://www.mastercard.com/atmlocator...d=211383182604 But it was no problem to find a cash machine in almost every town. That's a good link, thanks! ;-) Anyway, I think the idea of changing my bank (close my account with Dresdner and open one with Deutsche) is becoming more and more interesting... ;-) Viele Grüße & Danke, Christoph -- Reply to: christoph[dot]stark[at]tu-clausthal[dot]de |
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