Not so long ago, travelling was as simple as leaving home with a pocket, wallet
or purse full of cash. That changed when travellers checks were introduced.
Travellers checks have since been replaced with plastic cards, the debit card,
EFTPOS or credit card.
Visa, MasterCard and American Express
cards
Visa and MasterCard are accepted in the majority of stores, restaurants and
service establishments, including many backpacker and youth hostels. American
Express is also widely accepted. Like Visa and MasterCard, Amex is generally
also accepted in major supermarkets and service stations.
Diners Club and JCB cards
Diners Club and JCB cards are accepted in stores and service establishments that
are popular with overseas visitors and tourists. While Visa and MasterCard are
the most popular and most widely accepted. Diners Club and JCB are the least
popular and have the least acceptance.
Discover Card - leave it at home.
If you're coming from the U.S.A. and have a Discover card, you can leave it at
home. Nowhere are they accepted in Australia.
Australia similar to most other
countries
Credit cards are basically accepted in the same places that they're accepted in
Europe and North America.
ATM machines are numerous in Australia
Like most other industrialised countries, banks and ATM machines are numerous in
cities and towns throughout Australia. All ATM machines accept cards with either
the Visa, MasterCard, Maestro, Plus, EFTPOS or Cirrus insignia printed on the
front or back of the card. Just slide your card
into the ATM machine and enter your pin number - the same as you do at home. The
only difference is that Aussie dollars will come out the slot.
What's best to bring?
My favourite way to travel has always been with a Visa debt card. This card is
just a normal visa card but instead of being a credit card where I borrow money
from the bank and later pay it back, the card it is connected to my bank account
and when I draw out money at an ATM machine or use it
to but something, the money comes straight out of my account. The good thing, is
that while the money sits in the account it is earning interest.
Credit cards and charge cards - Amex and
Diners Club.
Bring as many credit and/or charge cards as possible, even if you don't plan to
use them. But of course if you do use them don't forget to bring along your
check book. Most banks now allow you to check your balance on the internet. Once
you've found how much you owe your bank, you can then write a check here in
Australia and post it to your bank back home to pay off your card. Don't forget
to include a short note with the check to tell them your name and card number.
Air mail to Europe or North America from Australia generally takes 10 to 14
days. Of course, if you have your savings account online, you can make the
transfer over the internet - internet cafes are everywhere.
You may be tempted to overpay your credit card - but don't do this. It was a
popular thing to do some years ago but if you do it now your bank will probably
send you a check for the amount that you've overpaid. The reason behind this is
that people were using credit card accounts to hide
money while declaring themselves broke or bankrupt.
Travellers Checks.
I'd put these on the end of the list. If you do bring T/C's get them made out
into Australian currency. T/C's are accepted in major tourist stores, but you
may have trouble using them in
other places. All banks and currency exchange houses will accept them. But,
banks will often charge a surcharge of around $AUS7 to exchange them. Plus there
is often a lengthy wait in line at the bank to get to a teller. Although if you
exchange them at currency exchange booths like at the airport there is no
surcharge.
The other problem with T/C's in Australian dollars is if you plan on visiting
another country after leaving Australia. They could be just a little more
difficult to cash. Furthermore you'll
be charged another exchange commission. Remember, you'll have already paid a
commission to have them changed from your local currency into Australian
dollars.
Cash.
The same as T/C's, the banks will charge you an exchange fee, plus a commission
to change your currency into Australian dollars. Also the big problem with cash
is if you loose it - it's gone forever. If you loose your T/C's or a plastic
card you can always get new T/C's or card.
EFTPOS
If you've not got a Visa debit card, the next best thing is your bank EFTPOS
card that you use at home. Before you leave home it may pay to call your bank.
First tell them where you're going and ask them what the service fees and
exchange rates are that they charge. I know that my bank has a service fee of
$4, plus exchange rate commissions each time I use my EFTPOS card outside
Australia.
Finally.
Using a credit card, you generally find you'll get the best rate of exchange
with no exchange service fees. My advice is to use your credit card as much as
possible. Them use cash (which you've obtained via your EFTPOS card) only when
credit cards are not accepted.