Currency exchange

So, we have a month long trip planned to Australia and NZ, including cruise. This is the longest venture we have made, so carrying cash is now the question. I would appreciate your opinions:

-convert US$ to Australian currency before we leave the states?

-convert it in the airport in Australia?

-find an Australian bank and convert it there?

-draw on ATMs while in Australia, leaving the bulk of the cash at home?

-get AMEX debit cards - load them in the US or Australia?

-use the credit card and pay when I get home?

-alternative solutions?

At some point in my travels I have used any or all of these methods. Which do you think is the easiest and/or most economical?

Thanks

Personally, I use credit cards whenever I can, and ATMs for the small things that are better paid for with cash.

So basically, it works just as at home.

Personally, I use credit cards whenever I can, and ATMs for the small things that are better paid for with cash.

 

So basically, it works just as at home.

Agree totally. Will be in Australia two weeks from today, for almost a month, and this is exactly what we will be doing. And it is what we do on all of our overseas trips. Rarely do we feel the need to bring currency from the US.

Just commenting as a Brit cruising with a line that charges in US $; I bring US $ for use on board and some local currency for use ashore..... in case I need a cab or local transport it always helps to have a little on hand. Going on my first trip to Australia and New Zealand next year and will visit an exchange here. I'll use my UK CC as back up.

Going on my first trip to Australia and New Zealand next year and will visit an exchange here.

Just do what you do at home--ATMs for "walk-around money" and credit cards for other purchases. There's absolutely no reason to purchase Australian dollars in the U.S. before going. Just get some at the airport ATM when you land.

Yep, whatever you do at home, mixture of ATM for cash and credit card where possible. Australian ATMs will usually charge a couple of dollars per withdrawal though. Try to have a credit card with a chip as more and more places here have tap and go terminals, so you is it wave your credit card over the reader and go. They work for purchases under $100 so good in cafés and small grocery purchases.

Amex isn't excepted everywhere here though so try to have a visa or MasterCard if possible.

I will be disembarking in Sydney after a 24 South Pacific cruise from the U.S. I plan to get my AUD from an ATM. However, the next evening I will be flying to Auckland and arriving late. I realize that I can probably get NZD at the airport, but can I get NZD at a Sydney ATM the day before. It would be nice to have some NZD ahead of time so I don't have to deal with it when we arrive in Auckland so late?

I'd appreciate any comments or suggestions. Thanks!

I will be disembarking in Sydney after a 24 South Pacific cruise from the U.S. I plan to get my AUD from an ATM. However, the next evening I will be flying to Auckland and arriving late. I realize that I can probably get NZD at the airport, but can I get NZD at a Sydney ATM the day before. It would be nice to have some NZD ahead of time so I don't have to deal with it when we arrive in Auckland so late?

 

I'd appreciate any comments or suggestions. Thanks!

Hi there, you will not be able to get NZ dollars from the Australian ATM but, depending on the time, there should be a Bureau de Change. Although I would probably wait as there are ATM's at Auckland airport. Have a wonderful time.

Hi there, you will not be able to get NZ dollars from the Australian ATM but, depending on the time, there should be a Bureau de Change. Although I would probably wait as there are ATM's at Auckland airport. Have a wonderful time.

Thanks for the information, Pagan!

What is the next choice after ATM for cash.

We bank with a small bank in our town and their ATM card is only good in the U.S.

Why don't you look into pre-paid cash cards that can be used in an ATM?

Why don't you look into pre-paid cash cards that can be used in an ATM?

Thanks, I'll look into that.

In terms of exchange rates/fees, ATM withdrawal in the country being visited is BY FAR the best rate (usually the "real" exchange rate plus maybe 1%).

One of the standard places to get the real exchange rates is XE.com . They have a good free phone app too (rates and calculator).

If you really feel the need to get some foreign currency in the US prior to the trip, I've found Well Fargo bank to have the best rates (usually around 3-7% above the real rate), plus a $5 transaction fee if you don't already bank with them (fee waived if you do). You can compare their daily rates to XE:

https://www.foreignexchangeservices.com/?partnerid=FES&serviceType=rate

Only certain bank branches offer currency exchange though. You can find out which ones here:

https://www.foreignexchangeservices.com/index.html?partnerid=FES&serviceType=stores

Some ships will exchange currency onboard for major foreign destinations at the Customer Service counter. It's hit-or-miss, but you can always try.

In my experience, the absolute worst rates were from Travelex. They added like 15% the one (and only) time we used them.

Best to have multiple ATM cards (at least 2 in your group) in case something happens to one of them. And of course make sure you know (and remember) the PIN#. Test it out first at home before a foreign trip.

What is the next choice after ATM for cash.

 

We bank with a small bank in our town and their ATM card is only good in the U.S.

I thought I'd have the same issue withours, as we bank via a local credit union. Their website made it appears it would only work at ATMs in the US (those were the only ones listed, anyway). But if it has a VISA or MASTERCARD logo on it, and shows either a PLUS or CIRRUS logo on the bank (as most do), it probably works overseas as well.

Just be sure it's an actual bank ATM. By that, I don't mean in an actual bank, but one with a bank name on it rather than something like Travelex (they have ATMs in some places with horrible exchange rates, but bank ATMs usually have a very good rate).

As a back-up, I always make sure I know the cash advance PIN# for my credit cards. That costs more but if something goes wrong with getting my ATM card to work it's comforting knowing I have a backup option if needed.

I thought I'd have the same issue with ours, as we bank via a local credit union. Their website made it appears it would only work at ATMs in the US (those were the only ones listed, anyway). But if it has a VISA or MASTERCARD logo on it, and shows either a PLUS or CIRRUS logo on the bank (as most do), it probably works overseas as well.

Our bank told us it would not be good outside the U.S.

As a back-up, I always make sure I know the cash advance PIN# for my credit cards. That costs more but if something goes wrong with getting my ATM card to work it's comforting knowing I have a backup option if needed.

You will definitely need to know your PIN for your credit cards if you are travelling in Australia. Signatures were phased out as of last year.