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blowfin

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Managed to find a rate above 73.5 for cash exchange in Perth with UniMoni. Better than the 71 or so being offered by TravelEx and TravelMoneyOz.
 
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Mark*V

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yeah go normal citibank plus card, not citibank exchange account i reckon.

transferwise have often significantly better rates than citibank. they do have fees per transaction, but still better in the end. big negative is that they have large fees (3%) on atm withdrawal tho.
either citibank doesn't follow mastercard rate exactly, or transferwise have access to better rates (2nd is most likely).
current rates:
citibank 74.2098. convert $1000 -> 74,209.8 yen
transferwise 75.070. convert $1000 -> 75,070 yen + $6.48 fee ~~ rate of about 74.586

ps: because of transferwise card, ive been virtually cash free this season. mastercard seems to be accepted everywhere. got a whole wad of cash that i got out for seemingly no reason.
I've just got 75.33 on my Citibank card this week
 

RCN

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Managed to find a rate above 73.5 for cash exchange in Perth with UniMoni. Better than the 71 or so being offered by TravelEx and TravelMoneyOz.

I would never bother using a money changer when it's possible to use the Citibank Plus account (fee free) to draw cash from overseas ATMs which are known not to charge fees (e.g. 7Bank). The rate you get is the Mastercard rate, which I find to be less than 1% worse than the mid market, I.e. something a brick and mortar forex outlet will never be able to beat. Plus the safety of not needing to carry large wads of cash with you from the start of the trip, just draw as you need.
 

Crispy013

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I would never bother using a money changer when it's possible to use the Citibank Plus account (fee free) to draw cash from overseas ATMs which are known not to charge fees (e.g. 7Bank). The rate you get is the Mastercard rate, which I find to be less than 1% worse than the mid market, I.e. something a brick and mortar forex outlet will never be able to beat. Plus the safety of not needing to carry large wads of cash with you from the start of the trip, just draw as you need.
I’ve been trying to explain this to anyone I meet going travelling. Seriously, like speaking to a brick wall with some people. :eek: It’s not rocket science!! Citibank/28 Degree card for the win.
 

blowfin

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Yeah I just haven't been arsed doing it yet, saves me having to visit an ATM for a while too. My Amex and MC get really good rates and have low fees, I use them more and more every year
 
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blowfin

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You're all a bit wrong actually. :p
What I should have actually done is gotten myself the travel money card from my own bank, Westpac.
Something to sort out for next year, i'll just wear those fees one last time like an ill fitting suit.

Between booking 3 hotels, 3 flights, a hire car, getting my IDP, a SIM card, a JR pass, and sorting the other details for the trip, it just didn't get any priority.
 

travelislife

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You're all a bit wrong actually. :p
What I should have actually done is gotten myself the travel money card from my own bank, Westpac.
Something to sort out for next year, i'll just wear those fees one last time like an ill fitting suit.

Between booking 3 hotels, 3 flights, a hire car, getting my IDP, a SIM card, a JR pass, and sorting the other details for the trip, it just didn't get any priority.

Have never seen a travel money card worth getting.
 

blowfin

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Have never seen a travel money card worth getting.

This thread... I wrote a bigger reply but... the one I'm talking about is basically the same as the 28 degrees card, except it's a VISA. That card has been recommended by a bunch of people, I guess all the recommendations in here on that one are wrong too?LOL

Use your card when you travel or to shop on an overseas site
  • Lock in your exchange rate in advance
  • No ATM withdrawal fees at Westpac Group ATMs and over 50,000 ATMs overseas 1
  • Avoid the 3% foreign transaction fee 2
  • Top up your card instantly in Online Banking
  • There’s no initial load fee or reload fee
  • Download the Global Currency Card app and load up to 5 currencies from a choice of 11.
 

Ozgirl

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This thread... I wrote a bigger reply but... the one I'm talking about is basically the same as the 28 degrees card, except it's a VISA. That card has been recommended by a bunch of people, I guess all the recommendations in here on that one are wrong too?LOL

Use your card when you travel or to shop on an overseas site
  • Lock in your exchange rate in advance
  • No ATM withdrawal fees at Westpac Group ATMs and over 50,000 ATMs overseas 1
  • Avoid the 3% foreign transaction fee 2
  • Top up your card instantly in Online Banking
  • There’s no initial load fee or reload fee
  • Download the Global Currency Card app and load up to 5 currencies from a choice of 11.
The problem with travel cards is the exchange rate they give you is very poor.
 

blowfin

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The problem with travel cards is the exchange rate they give you is very poor.
That one is reasonable, the information is available on their website if you'd like to read it. 28 degrees are not transparent with the rates they offer.

28 deg is not a travel card. It’s a credit card.
So is the Westpac card. I mentioned this above. The main difference is naming terminology.
 

FatBob

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This thread... I wrote a bigger reply but... the one I'm talking about is basically the same as the 28 degrees card, except it's a VISA. That card has been recommended by a bunch of people, I guess all the recommendations in here on that one are wrong too?LOL

Use your card when you travel or to shop on an overseas site
  • Lock in your exchange rate in advance
  • No ATM withdrawal fees at Westpac Group ATMs and over 50,000 ATMs overseas 1
  • Avoid the 3% foreign transaction fee 2
  • Top up your card instantly in Online Banking
  • There’s no initial load fee or reload fee
  • Download the Global Currency Card app and load up to 5 currencies from a choice of 11.
'Locked in' at what rate though?

Also, according to this https://www.westpac.com.au/international-travel/access-money-overseas/global-atm-alliance/
There are no Westpac Group ATMs in Japan.
 
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blowfin

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'Locked in' at what rate though?

Also, according to this https://www.westpac.com.au/international-travel/access-money-overseas/global-atm-alliance/
There are no Westpac Group ATMs in Japan.
The product might not be suitable for you then, and that's ok. Personally I couldn't give a rats if I have to pay a fee or two over a two week period, for the convenience and simplicity of not having to open an account or apply for a card through another provider. The lack of the 3% conversion fee is the good bit, and would far outweight any ATM fees.

You'll also find Westpac don't have a charge for using foreign ATM's except for the charges imposed by the operator. So as with Any's advice on fees above, not an issue if you withdraw from 7i.
 
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FatBob

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That's great that you don't mind paying fee's but this thread is not about you its about pointing out the pros and cons of the various cards.

The one you are talking about has a bad conversion rate and a 3% fee when using ATM's in Japan as there are no Westpac Group ATMs in Japan.
 

blowfin

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That's great that you don't mind paying fee's but this thread is not about you its about pointing out the pros and cons of the various cards.

The one you are talking about has a bad conversion rate and a 3% fee when using ATM's in Japan as there are no Westpac Group ATMs in Japan.

I'm not sure if you're being deliberately obtuse, or haven't actually understood what I've written. It has a 0% conversion fee on foreign transactions, everywhere. There is no such thing as a "3% fee when using ATM's in Japan", or a Westpac fee for using a foreign ATM. There is such a thing as a fee charged by an ATM operator, and you are correct that Westpac will not re-reimburse those for a lot of ATM's in Japan. If you use 7i however (they are everywhere), there are no operator fees charged.
 

Chillybin

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Just to refresh my old brain, when using citi bank card.. do I select cheque, savings or credit?
In Australia you use chq or Savings and transaction appears instantly on account. If you use credit in Australia it’ll take a few days to show up. Overseas you use credit, even if you press chq or savings it will revert to credit or simply decline
 

mannyk

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In Australia you use chq or Savings and transaction appears instantly on account. If you use credit in Australia it’ll take a few days to show up. Overseas you use credit, even if you press chq or savings it will revert to credit or simply decline
I will give that a try, doesnt sound like i can get it wrong, never had declined. Just couldnt remember what I used last year.
 

Ozgirl

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I’ve been trying to explain this to anyone I meet going travelling. Seriously, like speaking to a brick wall with some people. :eek: It’s not rocket science!! Citibank/28 Degree card for the win.
And ING

The best thing about ING is that you get the ATM fee back for international fees.
 

K_Bird

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Not sure if anyone else has had issues with Mitsui Bank ATMs not accepting an ING card?

I mainly used 7-11 ATMs with no issues, but I tried Mitsui three or four times and it was rejected every time.

Not sure if other banks have issues too?
 

Ozgirl

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I had an issue in niseko last March. But at one point it was def my error. But maybe one or two time it might have been the machine?
 
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K_Bird

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Mine was definitely the machine. I didn’t even get to push any buttons, just put the card in and got a message along the lines of “We are unable to process your card. Please try again later.” When I tried again later (multiple different machines but all Mitsui) I got the same issue.
 

travelislife

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The product might not be suitable for you then, and that's ok. Personally I couldn't give a rats if I have to pay a fee or two over a two week period, for the convenience and simplicity of not having to open an account or apply for a card through another provider. The lack of the 3% conversion fee is the good bit, and would far outweight any ATM fees.

You'll also find Westpac don't have a charge for using foreign ATM's except for the charges imposed by the operator. So as with Any's advice on fees above, not an issue if you withdraw from 7i.

It definitely looks to be one of the better ones. But they still put a spread on the rate when you load money in foreign currencies. Looks to be 3% or thereabouts. That doesn’t happen with ING/Citibank/28degrees.

28degrees rate is very transparent. Can be checked here daily: https://www.mastercard.us/en-us/consumers/get-support/convert-currency.html

Just put fees as zero.
 
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Ozgirl

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Mine was definitely the machine. I didn’t even get to push any buttons, just put the card in and got a message along the lines of “We are unable to process your card. Please try again later.” When I tried again later (multiple different machines but all Mitsui) I got the same issue.

Yeah I think that did happen. But i realised later it was because I wasn’t using the international machine.
 

Froff Life

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And ING

The best thing about ING is that you get the ATM fee back for international fees.
ING is annoying unless you already bank with them in Australia. The minimum number of deposits and withdrawals you need to make in the months leading up the the holiday is tedious. Citibank you can just transfer money onto and start using straight away.
 

Ozgirl

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ING is annoying unless you already bank with them in Australia. The minimum number of deposits and withdrawals you need to make in the months leading up the the holiday is tedious. Citibank you can just transfer money onto and start using straight away.
Ah yes. True.

I have a mortgage with them so those rules don’t apply.
 

blowfin

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skifree

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Travellex appear to be dead after a hack back at New Years or Christmas and are still offline. Does anyone have any update on this?

No don't tell me about Citibank.
 

Any

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Travellex appear to be dead after a hack back at New Years or Christmas and are still offline. Does anyone have any update on this?

No don't tell me about Citibank.
yeah all their apis n everything i work with is also offline.
i heard rumour they will be back on the 10th, but who knows.
recommend finding alternative options.
 

telenomore

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Any suggestions for alternatives for the purchase of a little yen?
Post Office offered one of the best cash buy rates for a long time (compared to banks and way better than Travelex) but not sure if they still do it. Only catch is you need to pre-order, I think 2 or 3 days prior to needing it.
 

azzski

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Post Office offered one of the best cash buy rates for a long time (compared to banks and way better than Travelex) but not sure if they still do it. Only catch is you need to pre-order, I think 2 or 3 days prior to needing it.
Can second this, been a couple of years but I've used the PO in the past when buying amounts below the KVB Kunlun threshold.
 

blowfin

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Australia Post appear to use Travelex, this is on their website currently.
upload_2020-2-5_11-59-1.png
 
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