Wednesday, October 21, 2009

The verdict: Travel Money wins!


Travellers' Cheques are so 90's!

As mentioned previously, I had a combination of cash, Travellers' Cheques and a Mastercard Debit Card or what the Aussie Banks call Travel Money. 15 years ago, I would travel with TCs which were widely accepted in American shops. I was also unsure if indeed the debit cards work overseas. I was told by the Commonwealth Bank staff to hit "credit card" at the till.

Although the TCs are still accepted almost everywhere, it is very inconvenient to use as it takes longer for inexperienced shop assistants to process the cheques. Since your holiday time is not meant to be wasted, I suggest that you use a debit card instead.

The Mastercard/VISA debit cards masquerading as credit cards worked perfectly. Getting it is easy-peasy, visit any of the big banks.

I used my Citibank Credit Card for big payments such as in hotels and theme parks. Although there is an international transaction fee, this could easily be recouped by all the rewards point you accumulate.

In summary, use the debit card for small payments (eg. food and shopping). Use your credit card with rewards for large payments (eg. hotels, car hire, attractions).


1 comment:

  1. Here is lots of useful information about Currency cards also you can directly apply for money cards, travel money cards and travel currency cards.

    ReplyDelete