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What's the best way to take money overseas?

Sydney, Australia
13 posts
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What's the best way to take money overseas?

I don't know how to carry my money. What would be the best way:

cash, credit cards, debit cards, traveller's check, a combination of those?

Also what if you don't have a credit card?

Thanks in advance.

Essex
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28,888 posts
69 reviews
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1. Re: What's the best way to take money overseas?

Debit card and use atm's to withdraw local currency as you need it.

Credit Card for purchases.

If you don't have a credit card, apply for one! You can get by without though.

It can be handy to have a small amount of cash, but as most airports have ATM 's in them, these days, not totally necessary - unless you are going somewhere reallyremote, of course.

England, United...
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for Somerset, Solo Travel, Exmoor National Park
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2. Re: What's the best way to take money overseas?

It really depends on where you are going, who with and for how long.

Travellers cheques are a nightmare to get cashed these days. Few places want them.

Credit cards are accepted almost everywhere now, debit cards are ok but be sure to have one specially for travel just in case it gets skimmed and takes your rent money etc. Take enough cash to get you started on transport, coffees and tips.

There are also travel money cards where you load it with you holiday money. Then if anything happens to it there is a limited amount.

All cards & cash should be used for the lowest user abroad/exchange rate, shop around

Steamboat Springs...
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3. Re: What's the best way to take money overseas?

I use credit cards with no foreign exchange fees and a ATM card for cash withdrawals. That's all I have needed. Cheers

London, United...
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4. Re: What's the best way to take money overseas?

This is a question that you should really be taking up with your bank. All banks now have a range of services that will allows you to take / spend your money overseas.

You asked if you didn’t have a credit card, I know in Australia you can find pre-paid credit cards, as we can in the UK, especially for people who do not have a credit card, but need book your hotel or flights on line, etc. There is a small charge to purchase these and you top it up as and when you need it.

I found one via the Australian Post, see link below, but there are many other companies / banks that offer these. Check which one offers the best rates that works for you.

auspost.com.au/finance-insurance/load-and-go…

5. Re: What's the best way to take money overseas?

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Removed on: 23 December 2013, 20:05
Kyiv
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6. Re: What's the best way to take money overseas?

i don't think there a "one-fits-all" solution. This world is big and many destinations have own specifics.

Say, credit or just about any) cards will be totally useless in Iran or rural areas of Asia, among many other places.

Edited: 23 December 2013, 12:36
San Francisco, Ca
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7. Re: What's the best way to take money overseas?

One thing with a debit card, be prepared for hotels, car and bike hire companies, etc. to "hold" a certain amount of your available balance against the safe return of their room, car or bike. Once you do return the item in good working order, it takes several days for that "hold" to release your funds back for your use. If you have a low balance on your debit card, you may not be able to use it until the funds re-appear. This is one time that a credit card is very useful... use the credit card as the guarantee, then if you don't want to run up a credit card bill, pay the final charges with the debit card or cash.

Las Vegas, Nevada
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8. Re: What's the best way to take money overseas?

As others have said, the "best" way depends on where you are going. The answer for Europe is different than it is for South America. And I'm sure the answer also is different for South Asia, East Asia or Africa. However, within the developed world, it is very difficult to travel internationally without either a credit card or an enormous amount of cash. You need a credit card to rent a car, or book a hotel. Even if you're backpacking on a ultra-low budget, a credit card would give you security and flexibility that a wad of cash does not provide.

Sydney, Australia
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9. Re: What's the best way to take money overseas?

28 Degree Mastercard workes well for me. Look it up. There used to be no charges but now there are some but still heaps better than most Australian credit and debit cards which charge huge fees and % fees as well. It's a credit card but you can put some money on it to make it in advance to save money. The interest is high but if you top it up before you go or as soon as you gewt back it doesn't cost much. Same as any credit card if you leave a negative balance there, over time it costs a lot.

There are other cards that you can put money on also. See which one suits you best.

I do not like travellers cheques as they are too restrictive. I like to have 2 different cards in case there is a problem with one. I forgot to tell one bank that I was travelling and they put a stop on the card. I always keep them separate also in case of robbery I still have one.

10. Re: What's the best way to take money overseas?

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Removed on: 29 December 2014, 06:18