Best way to access money in Europe

[null]

Hi guys,

I'm looking to go to Europe for a trip and was wondering what the best way to access the money I have in my Australian bank accounts?

I've never been a fan of credit cards, in fact I don't have one, but it looks like it's the easiest way to get around? I'm new to them so I have a few questions on them.
With the credit limit, is that the amount you can spend in a month?
Say I deposited $10,000 into the CC, would I be able to access all of that money on the CC?

[albatross710]

Credit card companies have been changing their fee structure to move people away from having "debit' balances on their credit cards. Check with your cards t&cs.

When I have been traveling in Europe these days I take my Westpac Handycard which works in the Cirrus ATMS. I withdraw cash and use that to pay for smaller purchases. Checkw ith your bank to determine if they have 'lower fee' banking partners. For instance Westpac partner with Deutsche Bank and allow fee free from Deutsche Bank ATMs

I exchange AUD for Euro initially at Singapore airport . I have found they offer a better rate than Australian exchanges.

Traveller's cheques are loosing their value as card options are so much more flexible.

I use a credit card to pay for hotels. I have a separate card which I use for travelling on the off chance that the details are compromised as I don't use that card in Oz/

Hope that helps.

[possumoz]

As an alternative to a traditional credit card you might like to look at a debit card. Both Visa and Mastercard have them. Most Australian banks now issue them.

[medhead]

Hi guys,

I'm looking to go to Europe for a trip and was wondering what the best way to access the money I have in my Australian bank accounts?

I've never been a fan of credit cards, in fact I don't have one, but it looks like it's the easiest way to get around? I'm new to them so I have a few questions on them.
With the credit limit, is that the amount you can spend in a month?
Say I deposited $10,000 into the CC, would I be able to access all of that money on the CC?

I usually use my ATM card with NAB (PLUS and cirrus network I think). NAB offer me fee free use of all ATM while O/S. I find that is the best option and I usually get a couple thousand euro cash before leaving.

AS others have mentioned some CC companies are not going to be happy about ahving a credit balance and using the card as a debit card. But in general I have found that my Visa cards don't have an issue with being in credit or in fact, my AMEX credit card for that matter.

The big problem with using a credit card is the card fees which can be quite expensive. I try to avoid using credit cards if possible.

You should first check if you can get a fee free ATM deal with your bank. If you have to pay fees for using an ATM then compare those fees to the credit card fees. ATM card fees can include a network fee and the atm fee, whereas a CC might only include the network fee.

In terms of getting cash before leaving, I find NAB to be best, with a $5 fee and a small spread. CBA used to be best with no fee and about the same rate but they now have an $8 fee. ANZ is about $5 from memory but the exchange rate is not as good. Not sure on Westpac, maybe they have a higher fee. And those currency exchange, hole in the wall places all have bad exchange rates.

[Jeffrey O'Neill]

i've been using the wize mastercard for a few years now.

put some money on it and there's no fees charge for making withdrawls (cash advances) on it.

it's easy to top up as needed and not really had too many probs using it. the odd ATM in asia wudn't accept it, but just tried a different bank's ATM and got me money.

[og]

An AMEX charge card with "express cash" enabled allows a withdrawl from your nominated Oz bank (savings) account at an AMEX ATM at the prevailing bank rate with a $1.25 usage surcharge. This seems the cheapest way to do it - so long as the cost of running an AMEX card is not an issue.

[Traveller F]

G`Day,

When I have been traveling in Europe these days I take my Westpac Handycard which works in the Cirrus ATMS. I withdraw cash and use that to pay for smaller purchases. Checkw ith your bank to determine if they have 'lower fee' banking partners. For instance Westpac partner with Deutsche Bank and allow fee free from Deutsche Bank ATMs

You can also use the above card "fee free" at any Barclays Bank in the UK, BNP Paribas Bank in France or any Deutsche Bank branch through-out the world.

If you are in the US "Bank of America" and in Canada "Scotiabank" are also "fee free".

Kind regards, Traveller F

[serfty]

... You can also use the above card "fee free" at any Barclays Bank in the UK, BNP Paribas Bank in France or any Deutsche Bank branch through-out the world.

If you are in the US "Bank of America" and in Canada "Scotiabank" are also "fee free" ...

Yup, the good ol' "Global Banking Alliance".

It a pity Westpac don't appear to consider their "Currency Conversion Charge" a fee ... and yes, I do have a Westpac card.

As far as I am concerned, the Wizard Rocks!

[jgm]

Get a Wizard mastercard. Add cash to it so it is in credit, & use it for cash withdrawals. There are no ATM fees or foreign currency exchange fees. I also use it as a normal credit card, & again there are no foreign exchange fees. As long as you keep the account in credit you are OK. The only problem is that there is a cash withdrawal limit of A$500 per day. I also had a few issues in Canada, as the ATMs at YVR wouldn't accept mastercard, & I had to try a few different machines at Whistler before I found one that took mastercard.