Spends for Australia

BrookieD

Hi GUys
Just on the verge of making a booking through Abbey travel for AUstralia in 2016 -
Major saving now needed to get the spends together - i have seen the Post Office FX card and was wondering is this the best option - load up the card and just use this. HAve a little pocket cash or is there a better way?


Thanks

Batgurl

Do not lock in any exchange rates with a card now for 2016. The AUD is on a downward trajectory so by 2016 I reckon you could get as much as 10%-20% more cash if you hold off.

woolymammoth

BrookieD wrote: »

i have seen the Post Office FX card and was wondering is this the best option - load up the card and just use this.

Batgurl wrote: »

Do not lock in any exchange rates with a card now for 2016. The AUD is on a downward trajectory so by 2016 I reckon you could get as much as 10%-20% more cash if you hold off.

does anyone else think Currency Fair is missing out on a niche opportunity here? If they could provide cards linked to a CF account, that'd be pretty awesome for travelling.

BrookieD, sad fact is, without a bank account over here it's hard to take advantage of services like CurrencyFair. There's no real best way in my opinion. You're gonna have to swap currency at some point, either cash, cheques, or PO FX cards, or just using your own bank visa/master card when you are here. All depends on how long you're travelling for, where you're going, etc. I would say don't buy any dollars too quickly without more research on eschange rates.

BrookieD

woolymammoth wrote: »

does anyone else think Currency Fair is missing out on a niche opportunity here? If they could provide cards linked to a CF account, that'd be pretty awesome for travelling.

BrookieD, sad fact is, without a bank account over here it's hard to take advantage of services like CurrencyFair. There's no real best way in my opinion. You're gonna have to swap currency at some point, either cash, cheques, or PO FX cards, or just using your own bank visa/master card when you are here. All depends on how long you're travelling for, where you're going, etc. I would say don't buy any dollars too quickly without more research on eschange rates.

Thanks for teh reply. Just booked my flights and leaving in last week of June for 4 weeks so will wait closer the time and just save the cash for now.

duffman13

BrookieD wrote: »

Thanks for teh reply. Just booked my flights and leaving in last week of June for 4 weeks so will wait closer the time and just save the cash for now.

The revolut thread on Bargain Alerts is worth a look. The card doesn't do Oz dollar at the moment but from speaking so support it will be live in the next couple of months.

As others have said currency fair and the like are your best option but you need an Oz account

skippy2

you can set up a NAB account online and transfer money into it from Irl. You cannot withdraw until you validate your details in Person in Oz. So you can use Currency fair to do the transfer. Find them great and get good rates with them and only €3 transfer fees. Dont go near the banks etc

Tucker688

I am moving over on the 27th of this month. I am plannning on bringing all cash and exchanging in the airport? Is this a good idea?

I have a commonwealth bank account open and will be lodging the money into it when I arrive

Hasmunch

Tucker open up a currencyfair (or similar) account online and transfer the money that way.

You will get better rates and not have to worry about carrying too much cash around.

Tucker688

I actually only get paid the day I leave, and I have to pay for my hostel when I arrrive ($500) so I cant transfer and wait a few days for it to hit my account. I will just have to keep the cash very safe on me at all times ha

aido79

Tucker688 wrote: »

I actually only get paid the day I leave, and I have to pay for my hostel when I arrrive ($500) so I cant transfer and wait a few days for it to hit my account. I will just have to keep the cash very safe on me at all times ha

$500 for a hostel?? For how long?

Tucker688

aido79 wrote: »

$500 for a hostel?? For how long?

Two weeks