Travelling to Europe, options for carrying currency
For those of you who have travelled to Europe in recent years, what have you done in regards to carrying/paying Euros? The last time I was in Europe (2001), I mainly used travellers cheques and credit card, both of which I would like to avoid this time round. We could draw from an ATM but then you’re charged big conversion rates plus ATM fees, which does add up.
Michelle has been looking into http://www.travelex.com.au/ which she seems pretty keen on. I do have an XE trading account, so I can buy Euros at a good rate, but I don’t have a Euro account anywhere that will give us access to that money. Obviously the goal here is not spending more than we have to, but easily being able to access our money on a day-to-day basis.
Rather than research a million options, I thought it would be best to ask you guys what you have done when travelling to Europe. Any advice is most appreciated. 
And here is a photo of me from the last time I was in Europe, at the tender age of 18-years-old (I’m on the right). We were drunk in this photo (don’t tell mum) and singing a rendition of an Oasis song if I remember correctly. This was taken in Vienna, Austria.
And all 6 of us thinking we are cool standing under an AUSGANG sign.
And no, I didn’t change my clothes often. 
Geez you look a lot different now. I just used regular visa and it cost me a fortune. I would just turn up and take out a heap of cash and guard it with your life or spread it around your bags and Michelle. Even rock some jocks and put it in there.
I would really like to know how you go with an option. The exchange rate is bogus atm. The withdrawal fee on accounts isn’t the breaker if you take out a decent amount instead of using your visa for every little purchase. Contact your bank see if they have an option for a credit card for OS use.
The travel boffins on http://www.australianfrequentflyer.com.au/community/ claim that the Citibank plus debit card is the best card for travelling.
Then the 28 degrees mastercard for a credit card.
I have read pages after pages of their research weighing up things like exchanges rates vs ATM charges and the like.
They know their shite!
People get caught out by things like “Commonwealth offer the best exchange rates on any given day” but then you find that Commonwealth make up for this by charging more per ATM transaction (for example)
But the other way is also true.
The bank that offers free withdrawals usually has high exchanges rates…
Sometimes what you lose on the roundabout you make on the swings.
When I lived in London and whenever we went to europe for the weekend a friend used to go to the post office to get euros cause they had “no fee” cash exchange. Their rates were crap tho.
I used to get “fee free” transaction from one of the more reputable bigger exchange house (as a perk from my work) and I always got more more cash than her (cause of the better exchange). I used to offer to get her cash but she always refused claiming she got a good deal (she just didn’t get it) 
Anyway the boffins have done the analysis for you already and come up with the above 
Everyone person who starts a new thread asking the same question as you has got the same answer. When a new card comes out (ie the new qantas cash card) they instantly compare it to 28 degrees. its their litmus test.
For what it is worth I think the qantas cash card is not so bad. http://www.qantascash.com/
the only negative is if you don’t use/put money on the card after 12mths they charge you a $5 admin fee. but they can’t/don’t if you don’t have a balance. So withdraw the cash at the end of the trip.
When this card came out that is when I last read threads on the frequent flyer site, Most commenters think its not a bad deal either. Not as good as the other two cards but def in the top of the pack (def top 10 maybe even top 5)
Whilst I’ve never been to Europe (the closest I’ve got is London), I can’t comment on specifics of Europe I do travel a bit. Here’s what I do.
1. Cash - I always take some cash with me to get through the first couple of days/week. Generally about 1k of AUD converted at KVB Kunlun, they have the best rates going around. http://www.kvbkunlun.com/en/html/contactus/Contact_address_sy.aspx
2. 28 Degrees Master Card - Traditionally it’s a credit card however you can load it with your own cash and use it as a debit card. There’s no international transaction fees, no conversion fees & no annual limit. Load it with your own funds and use it like a normal card at any ATM. The joy of this is that you don’t have to pre select which currency you will be using while OS. http://www.28degreescard.com.au
3. Qantas Cash card - It’s a debit card, you load it up with cash and then select which currency is your primary currency. There’s no conversion fees if you withdrawal in your primary currency, no load fees either. You also earn Qantas FF points when using the card. http://www.qantascash.com
4. Commbank Travel Money Card - This was one of the first travel money cards on the market when I got it years ago. Again it’s a debit card so you load it up with your own cash and select the currency you wish to use. https://www.commbank.com.au/personal/travel/travel-money-card.html
I’ve never run into any problems by using these 4 options. The only time I’ve had an issue was when I was in Las Lenas and there was only 1 ATM in town, it didn’t accept MasterCard or Visa or my normal ATM card. I couldn’t buy Argentinean pesos beforehand as no one in Australia accepts or sells them.
I’ve always found that Travelex is one of the worst rates!!!!!
Visa and MasterCard have much better rates!!!!!
Like the girls have said, look for a card that has no (or very little) fees, and still provides a “truer” conversion rate, withdraw maximum amounts, and like bkrtron said, split the cash into separate stashes so as to minimise any potential loss from theft/stupidity/drunkenness!!!!!
And yeah, as has been mentioned already, a Debit Card (your money) will nearly always beat a Credit Card (borrowed money) every time!!!!!
Other than that, you haven’t changed a bit!!!!! You’re still a nerd!!!!!
Oh, and don’t use the card for EFTPOS Transactions!!!!! ALWAYS draw maximum amounts of cash and use that!!!!!
The travel boffins on http://www.australianfrequentflyer.com.au/community/ claim that the Citibank plus debit card is the best card for travelling.
Yep the Citibank Plus is all you need for travelling the world it will save you heaps.
Citibank Plus charges no fees of any sorts and you get true spot exchange rates.
2. 28 Degrees Master Card - Traditionally it’s a credit card however you can load it with your own cash and use it as a debit card. There’s no international transaction fees, no conversion fees & no annual limit. Load it with your own funds and use it like a normal card at any ATM. The joy of this is that you don’t have to pre select which currency you will be using while OS. http://www.28degreescard.com.au
Not anymore they now charge one of the highest cash advance fees of all the cards. I still use mine for international online purchases (credit) but won’t bother taking it OS with me anymore.
So my basic recommendation is.
* Take the absolute bare minimum of the local currency in cash (purely to get you through until you spot an ATM) Auspost generally offers ok exchange rates.
* When you arrive in the foreign country use a citibank plus card (which you’ve previously preloaded with AUD) and withdraw cash as you need knowing that you aren’t being charged any fees and are getting the best exchange rate possible.
* Don’t come back with wads of useless foreign money that you get charged fees on when converting back to AUD (as you only need to withdraw from ATM’s as you need, no more guessing how much to take)
* If you want to take it an extra step when booking flights etc consider using a credit card with decent rewards (I’ve just received a Citibank rewards CC - Signature) and you get things like travel insurance/points/airport lounge access etc included.
Whirlpool wiki that sums the plus account
http://whirlpool.net.au/wiki/citibank_plus_transaction_account
So my basic recommendation is.
* Take the absolute bare minimum of the local currency in cash (purely to get you through until you spot an ATM) Auspost generally offers ok exchange rates.
* When you arrive in the foreign country use a citibank plus card (which you’ve previously preloaded with AUD) and withdraw cash as you need knowing that you aren’t being charged any fees and are getting the best exchange rate possible.
* Don’t come back with wads of useless foreign money that you get charged fees on when converting back to AUD (as you only need to withdraw from ATM’s as you need, no more guessing how much to take)
* If you want to take it an extra step when booking flights etc consider using a credit card with decent rewards (I’ve just received a Citibank rewards CC - Signature) and you get things like travel insurance/points/airport lounge access etc included.
Support this 100%!!
Pretty much what I do
the other thing is to make sure that you have at least two different types of cards as some places don’t don’t accept some (ie how tobi had issues) best to make sure you have options.
And Europe pretty much don’t have signature for Credit Cards any more YOU MUST have a Pin. But there ain’t too many people who don’t have a pin for their credit card nowadays i suppose (if you don’t make sure you get one before you leave even if it is only your emergency back up card!)
I never sign for credit anymore!!!!!
Always use a PIN, or Paywave/Paypass!!!!!
I never sign for credit anymore!!!!!
Always use a PIN, or Paywave/Paypass!!!!!
signing is being phased out in Australia, sometime this year.
I just used regular Visa and it worked fine. Would get a heap of cash out at once, then use it. Never ever used the travelex stuff, in Italy the commission was over 30%. But all that was a while ago, sure there would be other options now.
signing is being phased out in Australia, sometime this year.
LaLaLa
I’m not listening to you!!!
(I wish they wouldn’t i hate having multiple pin numbers! How is it better for fraud??? You can give the number to anyone!!)
You can change your PIN so it’s the same as your others!!!!!
Actually citibank tell me i can’t!!!!
just make sure your pin only has 4 digits!
I had a 5 digit pin on one of my aussie visa debit cards and then couldn’t use it some places (paying for petrol with card at the pump for example…there was only space for 4 numbers!)
When are you guys heading over this way?
Actually citibank tell me i can’t!!!!
!!!!!
Cool!!
I have tried a few times and always got a no. Admittedly it has been a while (over a year) since I last asked…