Accessing Money In SE Asia

H

hartem

Guest
Hi,
I'm doing some travelling in SE Asia very shortly and wondering what is the cheapest way of accessing my money while over there.

I have been told by a friend that putting money onto my student credit card is the cheapest way to go. Does anyone have any ideas?

I want to avoid using my banklink card if at all possible due to the high amounts charged.

Thanks a mil,
Martin.
 
Your friend is correct. Loading your credit card with a balance and withdrawing cash using ATMs is the cheapest way to access money anywhere in the world. You need to check the availability of ATM's where ever you go in SE Asia though. They were plentiful in Thailand, sparse in Laos and practically non-existant in Cambodia when I was there last year.
 
The credit card is the way to go. Just be careful, as you are not covered (insured) against any fraud when the card is in credit.

Towger
 
i took dollar travellers cheques which may seem like a primitive way of doing things now but it worked out really well. Particularly in Cambodia where there are virtually NO bank machines- I actually took quite a bit of cash when going into cambodia-just be careful (you dont need much money anyway!) Also travellers cheques were good in Vietnam and they are pretty cheap compared to using your bank card. Be careful of having too much credit on your credit card as towger says but it is definitely handy to have
 
Hartem,

Where are you going? If you bring Travelers Cheques to the Philippines you will be in trouble!!. Well not trouble, just lots of hassle finding a place that will change them and heavy charges.

Towger
 
Towger said:
The credit card is the way to go. Just be careful, as you are not covered (insured) against any fraud when the card is in credit.
Click to expand...

I've heard this said before but have never seen anything to back this up. Have you got a link or anything to support this?
 
There is at least one previous thread on this topic with a link to all the ATM locations in Cambodia based on experience this year.

www.askaboutmoney.com/showthread.php?t=39651

You can get good exchange rate for cash too when you arrive and the Euro is getting a lot easier to change.
As for fraud, based on previous threads if you lose your card it could cost you a lot of money.
 
DirtyH2O said:
As for fraud, based on previous threads if you lose your card it could cost you a lot of money.
Click to expand...

Any links please?

EDIT: A search has shown that all of this has been discussed before. In the thread that came up, nobody was able to show that the banks can wash their hands of a fraud once all the usual precautions are taken (not storing PIN with card etc.) and the fraud was reported in time. Having it in credit shouldn't change this.
http://www.askaboutmoney.com/showthread.php?t=32394
 
Last edited:
I don't think having card in credit matters except it could increase the amount that can be charged.
If your card is stolen you will be liable until you report it stolen.
If copied\skimmed and there are fraudulent transactions you must prove it was not you. The burden of proof has shifted in the banks favour so this is increasingly difficult.

Headline from Yahoo today

[broken link removed]

extract from same article

"A separate study by the European Commission found that almost a third of card fraud victims are never reimbursed for their loss by their card provider, despite claims to the contrary by banks."
 
If you have a credit card, it is the best way to go. Load it up before hand or if you have a decent credit limit, pay it off within the interest-free time limit. ATMs are all over the place in these countries particularly the cities e.g. Bangkok. One last thing, this way you usually get the best exchange rate as well
 
With a credit card , preloaded with credit, use the atm only.
hotels, restaurants ,shops etc just use cash to minimise skimming, copying.
and don t forget to be careful at the atms_hand over numbers,watch for suspicious activity nearby, or isolated atms in the dark for robbery after withdrawing_same as in ireland really
 
Another option. Load up a Western Union Account for emergency funds. There are thousands of Western Union exchanges throughout SE Asia.

On the cash machine front, as others have mentioned, Laos & Cambodia only have a handful of them.
 
serotoninsid said:
Another option. Load up a Western Union Account for emergency funds. There are thousands of Western Union exchanges throughout SE Asia.

On the cash machine front, as others have mentioned, Laos & Cambodia only have a handful of them.
Click to expand...

I thhink using Western Union is madness - it will cost anything up to 20% in charges depending on size of transaction plus you'll lose another 3-5% in the FX rate they use.
 
DirtyH2O said:
I thhink using Western Union is madness - it will cost anything up to 20% in charges depending on size of transaction plus you'll lose another 3-5% in the FX rate they use.
Click to expand...
Well I kind of agree. Although, I do think it might be an idea for an emergency fund. Getting stranded in a third world country with empty pockets - not much fun. I got an opportunity to ponder this a couple of years ago when I couldnt get cash out of the machine with my credit card. Was travelling alone. Luckily enough I had a friend joining up with me a few days after - but bumming around penniless wasnt much fun - especially when all the world around you assumes your loaded!
 
You must log in or register to reply here.
Menu
Log in
Register