Re: Cash passports or alternative - Debit cards rule
In my view people who use credit cards overseas must be Platinum and not need to ask how much it costs! And no sane person would ever use those pirates Travelex for anything! You might have noticed that the banks have long been onto the lurk of charging you around 3.5% for any overseas transaction, whether on top of the converted charge in terms of credit card use, and straight out same % amount (not to mention "not our machine" $4 whatever charge) for a cash out from an ATM. Unlike people here who are paid to travel mostly it seems, I travel for pleasure and want to make the costs as minimal as possible. I heard about the Wizard whatever card later and am sure it is ok but I am totally sold on debit cards as the only way to go. Having been to Europe twice and USA twice in the last 18 months or so I have used ANZ Travel Cards, one in Euros one in USD (the CBA travel money card broadly works in same way, but up to 6 currencies on 1 card - ANZ has 6 separate cards, 1 for each major currency). The funds are locked in at the rate you buy them which creates some certainty (ANZ has sightly better rate on T-card, and better forex than CBA anyway). However when I bought Euros at .675 and by the time I came back the rate was .725 this can be a bit annoying - you can play a similar guessing game with the USD now - will it go on to 1.10 etc etc. Initial load on issue is free, so maximise that - later it is 1.1%, which is sightly higher than standard 1% for cash, and way better than 3.5% for credit cards.
For "credit" card transactions (in the US anything over about $5) simply use the card and no usage charge whatsoever (unlike 3.5% on "real" credit cards). Yes, there is a charge for use of ATMs to get out local cash (USD2.20, EUR2.10 etc), but you only do this max. couple of times as you need little cash if you manage it properly (in 7 wks in US recently only needed $400 cash). You get 2 cards at issue ($12 cost from ANZ) so one as backup or for travelling partner etc. You can check online the ongoing balance/transactions virtually immediately - and also cancel card online if lost etc (which happened to me in Estonia in 2009!). The cards last for about 2 years or so - my Euro one is about to be topped up for coming trip and it otherwise expires at end of July, the USD one goes until 2013.
Any outstanding balance can simply be spent out here, or in fact anywhere else in the world - it just converts via Euro/USD whatever to local currency. In my coming Euro trip I will largely be outside the Eurozone in Czech/Hungary etc so I will use it for ATM local cash and as a credit/debit card.
Someone mentioned points - well as I have an ANZ QFF Visa you can actually use that to load the card, and get points as well (I thought this would have been a breach of the using credit to buy credit thing but it seems no- however it seems you cannot use Amex for that, but Visa is oK).
otherwise for travel that I pay for - what's not to like! The idea of giving the banks more money is not one of my favourites. However if you are obsessed with getting points and using a credit card, be my guest - but those little percentages for "conversion fees" on every charge have long annoyed me. Yes I take CCs as backup if I run out/low but they barely get used.
