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Coming from Australia what is the best card to access funds

Buderim, Australia
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9 posts
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Coming from Australia what is the best card to access funds

Which would be the best option to keep the costs down when using ATMs or eftpos, I have found all the cards can't put our currency into yuan or rmb, some say put us onto card and then each transaction u get charged conversion and transaction fees, is there a cheap option or a card that will load my funds into yuan or rmb before I leave

Sherbrooke, Canada
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40,677 posts
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1. Re: Coming from Australia what is the best card to access funds

Just about any card will work in China. You do not need to have RMB in it. Generally cards do not do that, they just convert at a pretty good rate. Australia has very poor exchange rates, better not convert before you leave.

Buderim, Australia
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9 posts
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2. Re: Coming from Australia what is the best card to access funds

Thanks I will stop looking at different cards now, it was becoming stressful.thanks heaps

Perth
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2 reviews
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3. Re: Coming from Australia what is the best card to access funds

Have just returned from China and used Mastercard Platinum as they don't charge conversion fees, but you are hit with $4.00 cash advance fee for each withdrawal which can add up as you can only get get 2000 yuan A$355.00 at a time. Make sure you cash your card up so that you aren't paying any interest.

Wellington, New...
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316 posts
45 reviews
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4. Re: Coming from Australia what is the best card to access funds

We used our normal eftpos card in the ATMs - we use the one with the Plus logo.

The rate was great!

Found plenty of ATMs that worked.

Sydney, Australia
Destination Expert
for Train Travel
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86,064 posts
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5. Re: Coming from Australia what is the best card to access funds

For the best deal on getting money out of ATMs, open a Citibank Plus account with an associated Visa debit card. For the best deal on credit card, get a 28 Degrees Mastercard. Both of these have no account fees and no fees for overseas transactions.

For more information, see http://www.nickbooth.id.au/Tips/Cards.htm

Mermaid Beach
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195 posts
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6. Re: Coming from Australia what is the best card to access funds

NAB, and probably other banks too, have a re-loadable pre-paid visa card especially for travelers. You can recharge it via bpay. It's worth investigating because the fees they charge on normal cards can really add up, for example each time you use an atm it's 4 bucks plus a fee for currency exchange.

As per the other posters most major credit cards will work via at the atms of the major Chinese banks, China Construction Bank, Bank of China, etc. you just get lumbered with fees.

Melbourne,Australia
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867 posts
28 reviews
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7. Re: Coming from Australia what is the best card to access funds

We used our Visa card a number of years ago in Beijing, Xian, Shanghai and Guilin with no trouble. Just remember to draw out larger amounts less often to reduce the fees. As we were on a prepaid private tour, we only needed spending money. Also things are so cheap that a little money goes a long way!

Edited: 31 August 2013, 13:09
8. Re: Coming from Australia what is the best card to access funds

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