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how do i get my money into oz ??????????

Travel Forums Australia / New Zealand & The Pacific how do i get my money into oz ??????????

1. Posted by garry moll (Budding Member 348 posts) 10y

garry moll has indicated that this thread is about Australia

hi im garry and this november i will be in australia for a month. im a little worried about having to keep enough money for my hols with me at all times.
how do i handle getting hold of money from the uk ?
how much can i take in to australia ?
can i draw money form my own bank in austraia ?
do i put thousands of dollars in my shoes ?
do i hang around street corners to make money ? (only joking, u would have to be desperate to spend money on me)
please help.
garry m

2. Posted by Sander (Moderator 4808 posts) 10y

Quoting garry moll

how much can i take in to australia ?

Enough that in an emergency you can arrange transport to somewhere else and sleep in a bed for a night. AUD 100-200 should suffice.

can i draw money form my own bank in austraia ?

Yes, you can withdraw money from pretty much any ATM in the world. Depending on how sucky your bank is, it'll charge you anywhere between 2 and 10 euro for the privilege (and then shaft you again on the exchange rate), but that's just financial institutions for you. It's still the most hassle-free way of doing things, and not all that expensive compared to alternatives. (But you'll want to make semi large withdrawals at a time so you don't end up paying them too much. Figure out for yourself how much money you're comfortable with walking around with.)

(Actually, it might be worth checking with your bank on this - just in case they have some kind of special account from which it's cheaper to withdraw money when abroad (one of my friends from New Zealand had something like that), and for your own peace of mind that they've indeed given you a debit card which you can use outside the UK (I remember that banks here in the Netherlands used to have this scheme where some debit cards only worked in Europe).)

[ Edit: Edited at May 21, 2006 11:29 AM by Sander ]

3. Posted by jess_capri (Budding Member 53 posts) 10y

Hi Gary,

I live in Australia and Sander is right, your normal debit card from home should let you withdraw money at any Aussie ATM just check the back of the card - if it says maestro or cirrus it will be accepted nearly everywhere. Legally you can bring i think $10,000 cash into Australia before you have to declare it at customs - but i'm assuming you wont need that much anyway. Australia is a particularily safe place - no need to hide money in your shoes, just be sensible and dont go waving around wads of cash or anything like that ;). Also i suggest getting a credit card if you dont have one because they are accepted everywhere in australia and if you run out of cash or get stuck somewhere you can also get a cash advance from your credit card. Hope your trip goes well,

Jess

4. Posted by maba (Inactive 227 posts) 10y

Garry,
I agree, just have a nominal ammount of cash and periodically withdraw cash from an ATM. But yes, check with your bank on the fees per transaction. This will help you decide on how much to withdraw at any one time.

I suggest to investigate the benefits of a Debit Account which is linked to your savings account, it should be cheaper than using a Credit card for cash as you are actually drawing on your own money.

A standard Credit Card is OK as a back up & would be OK for purchases (not cash) but make sure you pay it ALL off before the payment due date to minimise fees.

5. Posted by TomT (Budding Member 10 posts) 10y

Open up a Nationwide Flex Account (current account) and you'll be able to withdraw cash from the cashpoints (ATM) comission free, and at a favourable exchange rate (definitely better rate than at counters of any exchange bureau or bank)

You can also activate the Nationwide E-Saving account to house your spare cash and earn some interest. Just transfer the funds via Internet from E-saving to the Flex Account if and when it's required.

I've been using my Flexaccount Debit cards on overseas trip since 1999 and never had any problem. Pro's - commission free, good e/rate, and flexible i.e. get out exactly what you need to.

6. Posted by dannyboy7 (Full Member 167 posts) 10y

hi guys,
Yep,a nationwide flex account is definatley the way to go....i've just opened one for my trip.....
good luck
danny