Travelling in Europe - Best Way for Forex

Lano0321 on 22/01/2015 - 21:37

Hi All,

I need some help determining what is the best way to get a cash card or something like that when I travel in Europe.
I will need mostly Euro, but also need some Pound & Swiss Franc (about 5 days each in those two countries).

Before I mostly stuck with CBA Travel Money Card, as I primarily bank with CBA. Since this trip is much longer and more expensive than my previous trips, looking to get a good deal with good exchange rates.

A friend of mine suggested 28 Degree, but I don't want to get another credit card (as I have a huge mortgage and probably get denied because of reaching the borrowing power, LOL)

Also been suggested signing up a Citibank Plus account and just draw money out over there in the European ATM.

Any other choices? What would you use?

Thanks a mil

Travel

Comments

  • retiredfeline on 22/01/2015 - 21:45
    +4

    What would you use?

    Citibank

  • Baysew on 22/01/2015 - 22:12
    +2

    Check out Ozbargain Wiki on this subject
    (https://www.ozbargain.com.au/wiki/cards_with_no_overseas_tra…)

    Citibank Plus account is a must have.

  • trex on 22/01/2015 - 22:27

    How long is your trip? If I were you, I would bring AUD in cash and change it with money changers in Europe as and when needed. The forex rates in-country would usually be much better than what you get from Travelex here or even banks.

  • ano0321 on 22/01/2015 - 23:26
    +1

    Thanks guys - looks like Citibank Plus for me.

  • spellegrino on 22/01/2015 - 23:54
    +1

    Citibank plus its the only way to go I traveled 11 countries for 10 months and it was the only card I used

  • TintyJ on 23/01/2015 - 10:10
    +1

    Would you say Citibank trumps the 28 degrees card now? I've got the 28, might close it off if that's the case.

    • Gunther on 23/01/2015 - 11:07
      +1

      Citibank Plus = Debit Card
      28 Degrees = Credit Card

      Keep both if you travel.

    • Baysew on 23/01/2015 - 11:50
      +1

      28 degrees now has a fee for Overseas Cash Advances.

      If you have the 28 Degrees already, just keep it to make O/S purchases.

      (Also do as I say, not as I do. I made some purchases from Book Depot.The prices were in Australian Dollars, so just popped it on my normal card. But as processed O/S my card issuer will hit me for 2.5% fee)

      (Should have reached for my Citibank card)

      • SBOB on 23/01/2015 - 18:43
        +1

        But as processed O/S my card issuer will hit me for 2.5% fee)
        (Should have reached for my Citibank card)

        and then cancelled any banking with a bank that charges such stupid fees ;)

        • Baysew on 23/01/2015 - 19:20
          +1

          List Of Credit Cards that don't charge such stupid fees

          • 28 Degrees
          • Bankwest Zero Platinum

          List Of Debit Cards that don't charge such stupid fees

          • Citibank Plus

          Much prefer to keep my such stupid fee credit credit card and get points rather than cancel it.
          I just need to select the right card for the transaction.

          It's horses for courses

        • SBOB on 23/01/2015 - 19:22
          +1

          @Baysew:

          thats not exactly a conclusive list of cards that dont charge the fee (though i do have all three of those cards)..
          e.g. Citibank Platinum doesnt and still gets you points if need be

        • Baysew on 23/01/2015 - 19:33
          +1

          @SBOB: Feel free to list more cards, these are the only ones listed in the OzBargain wiki.

          Citibank Platinum does charge a fee.

          • 3.4% for Mastercard
          • 3.3% for Visa

          Citibank Fees & Charges

        • SBOB on 23/01/2015 - 19:54
          +1

          @Baysew:

          forex fee does not mean the same as AUD charged by overseas company though
          "Charged for any transaction made in foreign currency."

          It's only the real annoying ones that charge for AUD but from an overseas company

        • Baysew on 23/01/2015 - 20:27
          +1

          @SBOB:

          (https://www.ozbargain.com.au/node/123728)

          Referring to comments on that thread, you are saying Citibank doesn't charge a fee as long as transaction is in AUD (even if processed overseas)

        • SBOB on 23/01/2015 - 22:00
          +1

          @Baysew:

          no forex fee for overseas merchants charging in AUD
          you can see similar comments here http://forums.whirlpool.net.au/archive/2252508

  • ilikeradiohead on 23/01/2015 - 16:59
    +1

    Try and pay for everything with your card (citibank+ if you're going that route), that way you're not stuck with excess cash, and you can change over less money, therefore getting less ripped off by forex dealers :)

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