Travelex Currency Payment

[Flying Fox]

I'm going to get some USD for a trip and noticed that Travelex accept credit card payments (with a surcharge).

Can anyone confirm if you make a purchase with your CC at Travelex, is it considered a cash advance (vs purchase) by the CC company?

Thanks

 

[equus]

Can anyone confirm if you make a purchase with your CC at Travelex, is it considered a cash advance (vs purchase) by the CC company?

You would need to specify the card and company before anyone could let you know for sure, as regardless of what the merchant does, each issuer may process differently.

However, you would be wise to consider that it will be treated as a Cash Advance unless you can get positive confirmation for your card situation that it won't, as it is highly likely the "purchase" is being transmitted as a Cash Advance amount, and most CC providers will treat it accordingly.

Use of a Debit card (Visa or Mastercard variety) will bypass the issue (but may not be what you were after).

 

[Flying Fox]

Fair point.

Was thinking of using either my Citibank Platinum Visa or Amex Platinum cards.

Does that help?

 

[equus]

Was thinking of using either my Citibank Platinum Visa or Amex Platinum cards.

Can't say for the Citibank Visa, but knowing Citi, I expect you would be charged. As for Amex, I don't think Travelex accept it - so moot point. Remember that Travelex will hit you with a 1.5% surcharge for the privelege as well - over and above anything your bank might want to charge on top of that.

 

[FreqwentFlya]

I'm going to get some USD for a trip and noticed that Travelex accept credit card payments (with a surcharge).

Can anyone confirm if you make a purchase with your CC at Travelex, is it considered a cash advance (vs purchase) by the CC company?

Thanks

Hi Flying Fox,

I just purchased several thousand US$, used to use Travelex all the time as the Government contract was with them, but their rates were pretty bad. In the end I would take my Travel Allowance out and head to St George...

Last week I got US$ from St George (I don't hold an account) for 8678. I then walked over to the Travelex Office in Harvey World Travel and they were 8010! But gave a better deal for a Cash Passport 8110 (whoopdydoo)!!

Hope this sways you away from Travelex, however if you need to purchase with a Credit Card I expect you will cop the Cash Advance charge, I would with my CommBank card, but as the other guys suggest, they are all different.

If you are going to have to pay the Cash Advance charge regardless it is better to take the cash out of your card and go to St George. My own bank couldn't even match St George, NAB was closer, Worstpac was a bit less than NAB.

Best of luck...

JB
P.S When are you in US?

 

[Nutcase]

Travelex - Not a cash advance but the crew are correct about their rates. Highway robbery. Go to your bank and do this

 

[HardieBoys]

Travelex have an updated version of the travellers cheque in their 'Cash Passport' product. But you pay a huge amount for it. I'd recommend buying some cash from your bank, and then withdrawing money abroad, or better still, paying on credit.

 

[Flying Fox]

P.S When are you in US?

Not going to the USA but travelling around Africa through various countries. Travel agent suggest taking USD and exchanging locally for small amounts of local currency for in country use.

Thanks all for your suggestions. Will have to check out my bank today!

 

[HardieBoys]

With whom do you bank? If you bank with Westpac, you can use a variety of ATMs overseas without paying a foreign ATM fee (you still have to pay a % foreign currency transaction fee):

Barclays Bank

UK, Spain, France, Portugal and Gibraltar
Africa - Botswana, Ghana, Kenya, Mauritius, Seychelles,Tanzania, Uganda, Zambia and Zimbabwe


ABSA

South Africa

This is a much better deal than Travelex.

 

[Flying Fox]

Bank with NAB and decided to check out their rates.

Travelex Online rate is better than in-store rate by 3%. If you plan ahead and can wait 3 days then this isn't a bad option.

Travelex in-store is shocking.

NAB was better than both. So I changed $ there.

Thanks for all your suggestions as its saved me quite a few $