ANZ make their money from the exchange rate when you put the cash into the account.
Which is a 4% fee if you look closely based on the spread versus a CC interbank rate.
You may be wrong there, the Wizard Clear advantage mastercard had no FOREX fees. (and very few others, all of which are optional).Weather it be MC, cash exchange or travel card there is only going to be one winner when dealing with the Australian Banks, and its not you and its not me. ...
Weather it be MC, cash exchange or travel card there is only going to be one winner when dealing with the Australian Banks, and its not you and its not me.
I have nab gold banking which gives me fee free ATM withdrawals while O/S also at close to the headline rate.
Quoting the marketing spin for the ANZ product doesn't change the fact that there are better ways to do FX
I can do this with my Wizard, although I need to allow up to 2 working days for it to come through.... the FX card also allows me to go on line while overseas and bpay money into the account if I need it.
Weather it be MC, cash exchange or travel card there is only going to be one winner when dealing with the Australian Banks, and its not you and its not me.
They are like the QANTAS of the international banking community.
The travel card has its setbacks but it is a secure way to carry money overseas.
I mainly carry mine as a backup and have made some withdrawals from it. (otherwise they hit you with a monthly inactivity fee)
What other ANZ Fees and charges apply? [back to top]
Other fees and charges may apply to your use of the ANZ Travel Card, as described below:
Card Issuance Fee
Reload Fee
Point-of-Sale Transactions
Monthly Inactivity Fee (After 12 mths of inactivity)
Card Replacement Fee
I carry the bulk of my funds in Australian Dollars and exchange them at a reasonable rate.
and I find the Wizard rates better than Travelex.... My own strategy is just to get cash before I fly. I use Travelex-com-au - I find their rates are better than my credit union ...
I have two rules when exchanging cash.
1. Never exchange money at the airport.
2. Never get the cash in Australia prior to going overseas.
Two very large retailers in France refused to accept the card as it had no customer name on it, even with a passport for ID. It was accepted by other branches of the same company.