best way to pay

I am following all this chatter ATM charges. In planning how to best
avoid fees and high exchange rates, does any one have experiences in
deciding between bank cards, (Amex, Mastercard), ATM, or the old
fashion travelers checks? Anything else? BTW, I am traveling from US
and will be in OZ & NZ.
Thanks in advance as always for your feedback... Patty

"patty" wrote in message
ups.com...
I am following all this chatter ATM charges. In planning how to best
avoid fees and high exchange rates, does any one have experiences in
deciding between bank cards, (Amex, Mastercard), ATM, or the old
fashion travelers checks? Anything else? BTW, I am traveling from US
and will be in OZ & NZ.
Thanks in advance as always for your feedback... Patty

Travellers' cheques are no longer any benefit over cards as far as I can
see. I haven't used them for about 20 years. I carry a Visa card and a
Mastercard, with both set for use as atm/eftpos cards or credit cards. As
atm or credit they work anywhere, but I haven't always been able to use them
as eftpos outside of N.Z. where cards were issued. For that reason I always
carry a bit of cash - just enough for minor purchases. Probably nowdays I
could throw mastercard away and just use visa for everything; its well
accepted everywhere, but it is handy to have a second card - which is always
tucked ina separate pocket.

"Fred" wrote in message
...

"patty" wrote in message
ups.com...
I am following all this chatter ATM charges. In planning how to best
avoid fees and high exchange rates, does any one have experiences in
deciding between bank cards, (Amex, Mastercard), ATM, or the old
fashion travelers checks? Anything else? BTW, I am traveling from US
and will be in OZ & NZ.
Thanks in advance as always for your feedback... Patty

Travellers' cheques are no longer any benefit over cards as far as I can
see. I haven't used them for about 20 years. I carry a Visa card and a
Mastercard, with both set for use as atm/eftpos cards or credit cards. As
atm or credit they work anywhere, but I haven't always been able to use
them as eftpos outside of N.Z. where cards were issued. For that reason I
always carry a bit of cash - just enough for minor purchases. Probably
nowdays I could throw mastercard away and just use visa for everything;
its well accepted everywhere, but it is handy to have a second card -
which is always tucked ina separate pocket.
Definitely right - travellers cheques can be a pain to cash at times,
particularly if they are in a different currency for the country you are
visiting..Too often, banks charge for cashing them. Do have at least two
credit/debit cards - recently in Ireland an ATM swallowed one of mine, and
the bank informed me that cards captured this way are destroyed, and I would
have to arrange a replacement. You usually have to pay a fixed fee to use
an ATM overseas, so provided you withdraw a reasonable amount each time, you
will minimise costs.

Regards

David Bennetts
Australia

What many people do not seem to realise is that "money" is a commodity like
any thing else and there is a "cost" attached to its purchase or disposal.

e.g. if you buy Travellers Cheques then there is a charge for selling you
the "type" of money e.g. Great Britain Pounds (GBP) or New Zealand Dollars
(NZD)

Usually, on top of that is a fee for issuing the cheques themselves (which
need to be printed, delivered to point of sale etc.)

Credit Cards and Cash Cards are just a different of transacting "sales".

If you want to draw cash-money from a bank in Alice Springs, how did the
money get there in the first place? (Please don't say tourists).

If you want cash-money from an ATM, how did it get into the ATM in the first
place?

As you can see there are "hidden" extras for nearly all types of money.

While I agree with you that a "cost free" choice is the way to go, sometimes
it is not possible and what you should consider is the value (for the fees
charged) of the service provided against what it could cost you if you
needed to carry it all with you.

Seeing the OP is from the USA, consider finding and buying enough Aussie and
NZ dollars (real cash money) to satisfy your needs while abroad. Once you
have the cash, how do you carry it safely and securely?

I only travel within Oz (for a number of personal reasons) and my preferred
method of payment is Credit Card while carrying no more than about $100 in
cash money. I have never used Travellers Cheques or any other means of
"barter-exchange".

Ross

"patty" wrote in message
ups.com...
I am following all this chatter ATM charges. In planning how to best
avoid fees and high exchange rates, does any one have experiences in
deciding between bank cards, (Amex, Mastercard), ATM, or the old
fashion travelers checks? Anything else? BTW, I am traveling from US
and will be in OZ & NZ.
Thanks in advance as always for your feedback... Patty

Seeing the OP is from the USA, consider finding and buying enough Aussie
and
NZ dollars (real cash money) to satisfy your needs while abroad. Once you
have the cash, how do you carry it safely and securely?

Be very very careful of travelling with large amounts of currency - any
currency.
In Australia there is a limit and if you fail to declare the money (cash) it
can
be confiscated - I think the logic is about drug money, but who knows
nowadays
governments do whatever they can to remove extra cash from everyone.

Hello Roger and everyone

I don't believe there is any limit on how much cash you can bring into
Australia, so long as you declare it.

All cash transactions within Australia of $10,000 and over must be reported.

You can travel around within Australia with as much cash as you can
physically carry.

I used to work in a branch of a bank in a town which must have been situated
advantageously for catching drug runners. The police would regulary bring in
large amounts of confiscated cash to process. The cash was from cars they
had suspected of drug running and when stopped they had found drugs and
cash. It is the only situation I am aware of where police confiscate cash
from travellers within Australia.


Regards: Jim Sibbick


"Roger" wrote in message
...

Seeing the OP is from the USA, consider finding and buying enough Aussie
and
NZ dollars (real cash money) to satisfy your needs while abroad. Once
you
have the cash, how do you carry it safely and securely?

Be very very careful of travelling with large amounts of currency - any
currency.
In Australia there is a limit and if you fail to declare the money (cash)
it
can
be confiscated - I think the logic is about drug money, but who knows
nowadays
governments do whatever they can to remove extra cash from everyone.

"Big Jim" wrote in message
...
Hello Roger and everyone

I don't believe there is any limit on how much cash you can bring into
Australia, so long as you declare it.


Yes its the declaration thats important and I'm sure that anyone arriving
with
large amounts of cash gets a good grilling. Customs still has the absolute
right
to hold and/or confiscate the money if they believe it was the proceeds of
crime
or is to be used to fund an illegal activity. The individual has to go to
the Courts
to obtain their money back.

Very large ($500,000) will attract the attention of ASIO nowadays and you
and your money will disappear for as long as they see fit with absolutely no
recourse to the Courts.

Bank of America has a reciprocal fee free agreement with Westpac Bank in
Australia and NZ. So - the best way for you is to acquire a Bank of America
card and use that!!

It's a Global Alliance encompassing the following banks:

Country
Australia
Cirrus ATM network
Westpac
New Zealand Westpac NZ
Fiji, Vanuatu, Cook Islands, Samoa, Tonga, PNG, Solomon Islands
Westpac Pacific Banking
France BNP Paribas
Germany, Spain, Italy, Poland Deutsche Bank
UK, Africa (excluding South Africa & North Africa), Spain, France,
Portugal and Gibraltar Barclays
USA Bank of America
Canada, The Caribbean, Mexico, Chile ScotiaBank



You might need to push your local Bank of America to give you the details!



"patty" wrote in message
ups.com...
I am following all this chatter ATM charges. In planning how to best
avoid fees and high exchange rates, does any one have experiences in
deciding between bank cards, (Amex, Mastercard), ATM, or the old
fashion travelers checks? Anything else? BTW, I am traveling from US
and will be in OZ & NZ.
Thanks in advance as always for your feedback... Patty

"patty" wrote in message
ups.com...
I am following all this chatter ATM charges. In planning how to best
avoid fees and high exchange rates, does any one have experiences in
deciding between bank cards, (Amex, Mastercard), ATM, or the old
fashion travelers checks? Anything else? BTW, I am traveling from US
and will be in OZ & NZ.
Thanks in advance as always for your feedback... Patty



Credit card mate just dont forget tell the bank where your going to be
traveling.

--



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