Accessing money when abroad - best value options?

C

coolaboola

Guest
Hi folks,

I'm off on holliers to South Africa on Saturday. I'm looking at the best ways to access my money while over there. Options I've checked out so far include:

Get cash (rand) before I go - will do this for a small sum to keep me going but don't want to to be lugging around tons of cash for the duration. Any suggestions for where's best value (i.e. 0% commission) for foreign exchange?

Make cash withdrawals on my Ulster Bank Cirrus Laser card - handy but costs 2.25% per transaction.

Lodge cash to my credit card account before I go and make cash withdrawals/put bills directly on my credit card - 1.75% transaction charge if I have cash in my credit card account. Unfortunately I can't remember my PIN and it takes 5 days to get a new one (I'll be gone by then) so cash withdrawals won't work.

Travellers cheques - what are the costs associated with travellers cheques? Not so handy as they need to be exchanged.

Any other options?

c
 
Is there not a maximum limit on the transaction charge for your cirrus card ? This appears to be the best option if there is just take out a good bit every time. I'd recommend using CC for most transactions for safety but when you get home make sure there are no hooky transactions there (in case of fraud)
 
Coolaboola

You can withdraw cash from your CC over the counter at any bank providing you bring your passport. I deliberately forgot my CC pin number so I won't be tempted to withdraw cash from it. But have gone to a bank and taken money out when stuck for money abroad.

C
 
perks for seniors

I spoke with a senior citizen recently who was preparing for a trip abroad, outside the eurozone.
She had a bank account (BoI, I think) and as a senior citizen qualified for free banking.
When changing currency at her bank, she wasn't charged any fee for the exchange, nor will she be charged if she returns after her trip to change any left over money.
For anyone needing foreign currency with 0% charges, it might be worth considering having a senior citizen buy it for you!
 
Re: perks for seniors

Hmm, not quite senior citizen yet but I did discover another way of getting 0% commission. Apparently my employer (big oul' ugly Irish company) has arranange 0% commission with Thomas Cooke Travel... might go there to get my petty cash fund today. In the meantime I've also transferred over cash into my Visa account (though it won't be there until Wednesday :( ) ... and I discovered that I did actually change my Visa PIN and I can remember the new PIN (maybe I qualify for senior citizen-type dottiness!). And I'll take my stash of US dollars I have left over from previous trips. Thanks for the tips.
 
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Be careful that what you gain on no commission you don't lose on a crap exchange rate! Shop around.
 
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