Travelling to the USA

Jeff123 · 12-27-2010, 02:55 PM

My daughter is spending c3 months in the USA and is struggling with the aspects regarding money. The problem is this:

- If she uses a debit card to pay bills and withdraw cash, there is a sizable commission to pay for each transaction

- If she takes cash, she could lose it

- Travellers cheques attract a commission and she would need to keep showing her passport

Any thoughts anyone?

kaishang · 12-27-2010, 04:35 PM

Large cash withdrawals from ATMs and pay for things in cash.

And find an account that either has free withdrawals from certain banks (eg in Australia, if you have a Westpac card you get free US withdrawals at Bank of America), or if you can't find that, find an account with a fixed withdrawal charge rather than a rip-off percentage.

AndyzDad · 12-27-2010, 04:42 PM

As suggested by the above poster, check with her bank to see if they have a tie-up with any of the major banks here.

I bank with Bank of America and constantly use my debit card to withdraw funds at Deutsche Bank when in Germany and Scotiabank when traveling to Canada.

It's safe, there are no transaction costs involved and only pay for the conversion (@ bank rate).

Hope that helps!

Edit: BoA has a tieup with Barclays in London. Check if they have this the other way around.

http://bankofamerica.via.infonow.net...tLoadAction.do

the_oracle · 12-27-2010, 04:48 PM

Agreed, Debit card with the lowest overseas transaction fee works best. I go to NY often and travellers cheques, bureau de change shaft you with poor exchange rates etc.

I am with Nationwide and they charge you a pound a go to withdraw which is the lowest, so normally take out 300 dollars a time for food, spending money etc and the rates are good.

More here....

http://www.moneysavingexpert.com/tra...s-card-charges

Jeff123 · 12-28-2010, 08:29 AM

Thanks for the help. I think that we are pointed in the right direction now.

Jeff

chris_s1 · 12-29-2010, 04:16 PM

I am also a Nationwide customer and their charges for using cards abroad are better than most.

I used to avoid the fees by withdrawing cash but the extra charges aren't really that steep and you usually get a more favourable rate when using the debit card. The extra charges, for me anyway, don't usually add up to any more than the cash I used to end up left with at the end of the trip......(after loosing out again by converting it back)

SteveC · 12-30-2010, 02:19 AM

Saga's Visa credit card levies no commission of foreign transactions so as long as the bill is paid on time there are no additional costs for using their card in the US

pnutty · 12-30-2010, 02:25 AM

Hey mate,

What part of the USA is she located in? you might also want to check with HSBC.
My sister sends me money with that and I can pull it out from my account here without any transfer fees.
Check locations around wherever she is going.

I wouldn't go with the traveler check option!

12-27-2010, 02:55 PM	#1
Jeff123 Jeff 303 Rep 1,451 Posts Drives: 330d M Sport x-drive F30 Join Date: Jan 2010 Location: Yorkshire iTrader: (0)	Travelling to the USA - money? My daughter is spending c3 months in the USA and is struggling with the aspects regarding money. The problem is this: - If she uses a debit card to pay bills and withdraw cash, there is a sizable commission to pay for each transaction - If she takes cash, she could lose it - Travellers cheques attract a commission and she would need to keep showing her passport Any thoughts anyone?
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12-27-2010, 04:35 PM	#2
kaishang Colonel 55 Rep 2,197 Posts Drives: 2010 E90 330d Join Date: Jul 2010 Location: London iTrader: (0)	Large cash withdrawals from ATMs and pay for things in cash. And find an account that either has free withdrawals from certain banks (eg in Australia, if you have a Westpac card you get free US withdrawals at Bank of America), or if you can't find that, find an account with a fixed withdrawal charge rather than a rip-off percentage.
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12-27-2010, 04:42 PM	#3
AndyzDad Second Lieutenant 2 Rep 219 Posts Drives: 335i E92 Join Date: Oct 2010 Location: Los Angeles, CA iTrader: (0)	As suggested by the above poster, check with her bank to see if they have a tie-up with any of the major banks here. I bank with Bank of America and constantly use my debit card to withdraw funds at Deutsche Bank when in Germany and Scotiabank when traveling to Canada. It's safe, there are no transaction costs involved and only pay for the conversion (@ bank rate). Hope that helps! Edit: BoA has a tieup with Barclays in London. Check if they have this the other way around. http://bankofamerica.via.infonow.net...tLoadAction.do
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12-27-2010, 04:48 PM	#4
the_oracle Private 8 Rep 64 Posts Drives: 320d Join Date: Jul 2006 Location: London iTrader: (0)	Agreed, Debit card with the lowest overseas transaction fee works best. I go to NY often and travellers cheques, bureau de change shaft you with poor exchange rates etc. I am with Nationwide and they charge you a pound a go to withdraw which is the lowest, so normally take out 300 dollars a time for food, spending money etc and the rates are good. More here.... http://www.moneysavingexpert.com/tra...s-card-charges
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12-28-2010, 08:29 AM	#5
Jeff123 Jeff 303 Rep 1,451 Posts Drives: 330d M Sport x-drive F30 Join Date: Jan 2010 Location: Yorkshire iTrader: (0)	Thanks for the help. I think that we are pointed in the right direction now. Jeff
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12-29-2010, 04:16 PM	#6
chris_s1 Major 37 Rep 1,113 Posts Drives: M235i 6MT Join Date: Jun 2009 Location: Ontario, Canada iTrader: (0) Garage List 2012 E92 335d [8.66]	I am also a Nationwide customer and their charges for using cards abroad are better than most. I used to avoid the fees by withdrawing cash but the extra charges aren't really that steep and you usually get a more favourable rate when using the debit card. The extra charges, for me anyway, don't usually add up to any more than the cash I used to end up left with at the end of the trip......(after loosing out again by converting it back)
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12-30-2010, 02:19 AM	#7
SteveC Major 219 Rep 1,231 Posts Drives: M5 Join Date: Jan 2009 Location: North East iTrader: (1)	Saga Saga's Visa credit card levies no commission of foreign transactions so as long as the bill is paid on time there are no additional costs for using their card in the US
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12-30-2010, 02:25 AM	#8
pnutty Lieutenant 16 Rep 494 Posts Drives: 335 Join Date: Dec 2010 Location: Cambridge, MA iTrader: (11)	Hey mate, What part of the USA is she located in? you might also want to check with HSBC. My sister sends me money with that and I can pull it out from my account here without any transfer fees. Check locations around wherever she is going. I wouldn't go with the traveler check option!
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