Travel Money

[lawsanass]

Hi there, I am going travelling for the next five months to thailand, cambodia, vietnam, laos, australia and the u.s. I am stuck on how to manage my money whilst away as it seems to be strongly advised not to use my debit card. I have a credit card which i only intend to use in emergencies. My bank has offered me a platinum account which enables me to withdraw cash for free abroad (however there may be some exceptions) as well as other benefits but have to pay £12 for the first two months and then £17 from then on. Would this be the most effective as i've been told i still get charged a visa handling fee. I am very confused about my options and the bank seem to only want to recommend their facilities. Please help
aimee

[spudqueen]

Would this be of interest to you?

Or you could get travellers cheques, possibly in US dollars. You would be able to cash these in many places (not only banks, but some hotels will also cash them), and if they are lost or stolen you can get them replaced very quickly, usually with one or two days if using American Express travellers cheques.

[boxtops]

I don't understand why you are being advised not to use your debit card - who's telling you that? There is more security in travellers cheque since they can be replaced, but we always travel with a debit card. Some banks charge more than others for international withdrawals, for instance Nationwide charges 1% which is pretty low compared with some of the others, but taking your debit card means you only need to draw money as you need it. You would still get charged a handling fee but some banks charge you per withdrawal as well.

[jules77]

Take travellers cheques.......if lost or stolen, they can be replaced.

I wouldnt rely on a debit or credit card abroad either, but it is great for emergencies. Some debit cards are not accepted at all stores or restaurants without further ID, and in some rural areas, finding an ATM to withdraw cash can be difficult. Withdrawing cash from an ATM isnt free unless you use a machine attached to your own bank, and you will also be charged additional fees for converting the cash withdrawal into your own currency.

You also need to remember to notify your own Bank that you are travelling abroad, or you will be subjected to additional security checks when trying to use the card in a store or restaurant. Even so, the Banks anti fraud department may contact you before authorising any payments you try to make, if you dont have a mobile, that could prove difficult. You may also need to change your PIN as some countries dont accept PINS with a zero. ATM scams are rife abroad, my son was mugged at an ATM and they took the equivalent of £200 from him, he was in a well lit area, with plenty of people around.

Good luck, and enjoy your trip.

[jaydah]

Change your bank to HSBC - they have brances in all those countries.

[jules77]

Jaydah, the 'number' of HSBC branches in these Countries are limited, and if you arent near one when you want to withdraw some cash, it would be of no benefit.

[spudqueen]

Just realised I didn't put the link up!
http://www.postoffice...0207&mediaId=26800661