As international travellers, the one thing we all need is foreign currency. Sure, we can use credit cards for most transactions – but having some bank notes for those incidentals is always necessary.
So, where is the best place to purchase foreign currency? Our member
AVC asks
any suggestions on where to buy USD in Sydney? I'm looking at a few K just for incidentals
Our member is a NAB customer, and is concerned that NAB will charge a fee for selling US dollars
Far be it for a bank to do it as a service for their customers
Well, it turns out that NAB to indeed charge a fee when selling foreign currency.
I'm also a NAB customer and I avoid them for cash purchases due to the $8 fee.
Long term members of our site will not be surprised to learn that the most cost-effective way of purchasing foreign currency is as an ATM withdrawal using a 28 Degree (or similar) mastercard. Of course, this can only be done when you are physically overseas, so it may be necessary to pre-purchase a small amount of cash before you depart.
Just get maybe $200 and then run the rest off a 28 Degrees card when you are in America. The card can be put into credit so I got just a shade under 1.07 on the $1,000 I withdrew of my credit balance.
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