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For the travellers among us - save on ur ATM fees!! (pg. 2)
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| eRRaTiK |
| ^^ the tubby has a point |
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| Beemer |
| quote: | Originally posted by tubby
even if you get charged 1.5% on those transactions, what would you have been charged if you had to exchange cash to pay the same? i suspect your fee-free cash withdrawals still have that same 1.5% fee on the exchange rate, just not a fee on the atm transaction. |
quite possibly - but this for me is also a convenience thing...because there are a ton of things i'm not gonna wanna use a credit card for - i mean, i don't wanna look like a dick handing over a visa card every time i buy an icecream or slice of pizza in Italy :p same goes for bus tickets, etc - there are lots of small things u'll still need cash for.......so now, i can do that without having to take out one large amount every week, and without being slugged $5 each time......so, makes sense to me *shrug*
anyways, was just trying to be helpful.......take it for what its worth :) |
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| muli |
i have QANTAS ANZ visa, just getting rid of it actually SUCH A RIP OFF, Virgin is the way to go :P
anyho... i get charged 1.5% everytime i buy records etc.. from overseas, it lists it just under the transaction, its usually only like 70c or something.
But when i was overseas last year they hadn't brought it in yet. Also i didn't get charged anywhere near $4 per transaction OS :eek: for taking out cash from my st george account.
u need cash for the small things, but everything else i put on my CC, cause if anything got stolen i could just ring up and get a new card orgynised. |
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| Beemer |
well, this issue was really bugging me.........cos i had a nagging feeling that the exchange rates used when u use a credit card, vs when u withdraw from an atm, are the same......
i called both ANZ and Westpac - and they both told me that if ur overseas and u purchase something with a credit card, the currency conversion is done using the EXACT SAME exchange rate as is used when u withdraw cash from an overseas atm - there's no difference....
it works the same way for both - they convert the foreign amount into US dollars, and then that gets converted into Aus dollars....... I hate how they change it to US first, cos that means our dollar falling right now against the greenback means it's gonna affect us even tho we'll be in europe....imho it'd be fair if they converted direct from Euro to Aus - but, sif banks are ever fair...hehehe
anyways, this means that u ARE saving by using a fee-free withdrawal from an atm vs a credit card - it will always be 1.5% cheaper using the atm :) |
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| Beemer |
| quote: | Originally posted by muli
i have QANTAS ANZ visa, just getting rid of it actually SUCH A RIP OFF, Virgin is the way to go :P
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yup i agree.....i have both - for me, my ANZ card is good provided i pay it all off each month, cos then u don't get hit with any interest, and u get the frequent flyer points........but it sux if u make big purchases and then have to pay interest, cos their rate is soooo high :( that's why i got Virgin card as well - if i know i have huge purchases which i wont pay off within a month, i put em on the Virgin cos their rate is so much more reasonable..... was gonna get rid of ANZ, but figured it's handy to have 2 kinds of card overseas in case one screws up or gets stolen........but will get rid of it when i'm back home.....
meh, money stuff sux :( |
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| Michael |
It is hard to open a bank account in the UK!! It took me 3 months to get a bank account, and it took mates of mine up to 6 months. It's so hard to get one because:
1) they give you an overdraft and lots of aussies overdraw their account then leave the UK
2) You need to show proof of residence ie. a tenancy agreement
3) You need regular income ie permanent employment and a letter from your employer
4) You need a utility bill in your name or partially in your name. ie a water, telephone, electricity bill.
Seriously the banks there are like nazi's, so if you can get one here before you go do it. Also, you can get an account here through HSBC which you can use in the UK, other friends of mine did this and it save them so much hassle as they had their ATM card and stuff before they left.
I got charged a fee for using my credit card overseas, normally about 1.5% on top of the normal amount. |
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| Beemer |
| quote: | Originally posted by Michael
Seriously the banks there are like nazi's, so if you can get one here before you go do it. Also, you can get an account here through HSBC which you can use in the UK, other friends of mine did this and it save them so much hassle as they had their ATM card and stuff before they left.
I got charged a fee for using my credit card overseas, normally about 1.5% on top of the normal amount. |
Don't HSBC charge a fee for opening a UK account from here? And, I have a feeling they make u deposit a ridiculous amount into the account when u open it :(
The Lloyds service (which I used) which lets u open an account here before u go is free, and doesn't require any deposit.........the only minor problem is it takes 8-12 weeks all up - so I guess HSBC is a good option for last-minute accounts....but Lloyds is a good one to go for if u've got lotsa time :)
i have way too much time on my hands today.... |
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| eRRaTiK |
| quote: | Originally posted by Beemer
i have way too much time on my hands today.... |
+1 |
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| Beemer |
| quote: | Originally posted by eRRaTiK
+1 |
boy will u have fun sharin a room with me in amsterdam :D |
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| muli |
| quote: | Originally posted by Beemer
boy will u have fun sharin a room with me in amsterdam :D |
OOOOOOO PEEEEEEEEELLLLLLEEEEEEEEEAAAAAAASSSSSSSSSSEEEEEEEEE! Do we really need to know what you guys will be getting up to! :eyes:
There are lots of "toys" in amsterdam that can keep you two entertained in you room :whip: :thepirate :disbelief :eyes: |
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| Beemer |
| quote: | Originally posted by muli
OOOOOOO PEEEEEEEEELLLLLLEEEEEEEEEAAAAAAASSSSSSSSSSEEEEEEEEE! Do we really need to know what you guys will be getting up to! :eyes:
There are lots of "toys" in amsterdam that can keep you two entertained in you room :whip: :thepirate :disbelief :eyes: |
*rofl* well it won't just be me and him....it'll also be eddie, and erratik's friend...and prob jp will be there a lot too........quite the party we'll be havin ;)
eta - plus erratik's 2 other friends in the room next door...hehehe
hahahaha i'm way too hyper today!!! |
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| stamper |
| quote: | Originally posted by Beemer
*lol* sif i would ever sell my soul and work for a bank :p
believe me i've done the research - westpac really does seem to be the only major aus bank that is part of any international alliance that enables fee-free atm transactions overseas....every other bank i looked into charges anywhere from $1 to $5 to use foreign atms :(
wade, my Visa is ANZ too - so, ur definitely gettin slugged 1.5% on all ur foreign currency transactions - if u use net banking, have a look at ur credit card statement on there - under all ur foreign transactions it'll say "Includes ANZ Conversion Fee $XX.XX AUD" - mine all do........it doesn't seem like a lot in the grand scheme of things, but it can add up fast if ur using ur Visa a few times a day overseas......well, it's enuff to make me not wanna use it for absolutely everything over there..... |
Ah ok i really didn't know Westpac was the only one. :( My bad. |
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