If you don't want to open a credit card for this purpose, I think the ING Orange account is an excellent alternative. It charges no currency conversion fee and only charges a $2.50 ATM withdrawal option.
I recently withdrew 3000 China Renminbi on the same day from two accounts - one was my ING Orange account and one was my Commonwealth bank account. The amount in Australian dollars was nearly the same (a few cents different) but the Commonwealth Bank charged a $18.61 fee compared to ING with their $2.50 fee. I won't be using Commonwealth Bank card overseas again.
The other good thing with the ING Orange account is that you can withdraw your money when you return from overseas and just transfer money to it when you go overseas. Or you could use it in Australia and get free ATM withdrawals at any bank ATMs.
I recently withdrew 3000 China Renminbi on the same day from two accounts - one was my ING Orange account and one was my Commonwealth bank account. The amount in Australian dollars was nearly the same (a few cents different) but the Commonwealth Bank charged a $18.61 fee compared to ING with their $2.50 fee. I won't be using Commonwealth Bank card overseas again.
The other good thing with the ING Orange account is that you can withdraw your money when you return from overseas and just transfer money to it when you go overseas. Or you could use it in Australia and get free ATM withdrawals at any bank ATMs.
