I am looking for the place with the best exchange rate. Most places are at 70 when the international is 76. Does anyone know somewhere is australia with a good exchange rate?
Posted by
Cary, NC
687 posts
Why a money card? A better question is: "what is the best way to get money abroad"? To which the answer is: "an ATM card with no or low foreign transaction fees".
Posted by
OP
Brisbane
15 posts
This is good in theory. But as I am only 18, I don't have a credit card and have no intentions in getting one, and the bank I am with charges high fees for debit cards overseas. I also don't want to open a new account at a different bank that will charge me account fees (I'm a student and commonwealth doesn't charge students fees). So travel card is the best way to get money without carrying large amounts of cash, and without paying extra fees for a new bank account. I don't want a credit card, because I don't want the risk or the temptation.
Posted by
Tresana, Highlands Ranch, CO, USA
23282 posts
Of the cards I have looked at, the best "appeared" to be the WalMart cash card. But doubt if that is available in Brisbane.
Posted by
Gainesville, Florida, USA
29 posts
"So travel card is the best way to get money without carrying large amounts of cash, and without paying extra fees for a new bank account. I don't want a credit card, because I don't want the risk or the temptation." Well, not really. There are banks out there that don't have any fees associated with them- for anyone- and don't charge an arm and a leg to use ATMs overseas. Online bank accounts are known for no fees- I use Ally, but there are others. Some you can even deposit checks by scanning them with your phone!
Posted by
Rotorua, New Zealand
12 posts
Westpac bank in NZ has overseas partners where you dont pay for ATM's and the bank doesnt charge extra fees for using them. Check it out at Westpac Australia. They should do the same thing. The exchange rate changes all the time so we arent going to worry about it and just use our debit plus / ATM card from Westpac. Was going to get a travelex card but they are too expensive
Posted by
Chicago
2876 posts
Both Visa and Mastercard offer prepaid debit cards. Details are on their websites. When you use them overseas, you'll get the ATM exchange rate. Of course there are fees, so you'd have to do some comparison shopping. But they might be worth taking a look at. The advantage of the Travelex is that their cards are chip-and-pin, which is useful although not totally necessary in Europe. Also, you can "load" them with euros or other currencies and thus "lock in" your exchange rate at the time you buy the card. Of course this can work both for you or against you depending on the currency markets.