1Likes
-
1
Post By backofbeyond
|
6 Aug 2015
|
Registered Users
New on the HUBB
|
|
Join Date: Jun 2015
Posts: 8
|
|
Money
What is the best way to carry your money? Everywhere I read it's
"You get the best rate with your ATM card"
Yet when I went back to London in 2006 Bank of America charged me 25% in their exchange rate. The exchange rate was $1.80 to the pound, BofA charged me $2.25. Plus $3 for every transaction, even one that didn't go through. I might add that no Brit ATM charged me a penny for using their system. I'll be taking cash obviously, but don't want to take thousands. I've always previously used Travelers cheques, but that appears to get the worst rate. I'm heading down south from San Diego by the way.
Any thoughts . . . ?
|
6 Aug 2015
|
Registered Users
Veteran HUBBer
|
|
Join Date: Aug 2012
Location: Australia
Posts: 1,131
|
|
I'd be asking the Bank of America questions!!!
Some banks give better 'service' in terms of the charges they make .. either as a percentage and/or set fees. You should try to select the best oneS (yes - use more than one bank). Select one for smaller transactions - paying for a meal, over night accommodation, a tank of fuel. Select another for large things - e.g. shipping the bike. If one of them fails to work .. use the other one.
Bank of America ... their page on their ATM charges...
https://www.bankofamerica.com/deposi...ling-abroad.go
---------------------------------
Cash conversion rates are also taking a percentage. They usually state a buy and sell rate. You should take that into account when evaluation the ATM conversion rate too.
|
6 Aug 2015
|
Registered Users
Veteran HUBBer
|
|
Join Date: Apr 2005
Location: Oxford UK
Posts: 2,116
|
|
We've been using preloaded cards (fairfx etc) for the last five years or so and found them pretty good.
They give a decent exchange rate and if you don't want to load them with all your money at once (we don't) we've had someone at home top them up when we text / call. It's slightly awkward and dependant on communications but at least you only stand to lose whatever's on the card at that time if the worst happens.
|
6 Aug 2015
|
Registered Users
Veteran HUBBer
|
|
Join Date: Dec 2012
Location: NSW Australia - but never there
Posts: 1,235
|
|
We carry Visa credit cards but rarely use them. Normally we use a Visa Cash Card issued by our credit union that is always at a good conversion rate, but they charge a flat AU$4 per transaction so we always withdraw the maximum allowed amount of cash out of ATMs and pay everything with cash. Fine if the ATMs dispense something close to the normal limit of $1000, but many countries has silly low limits of a couple of hundred dollars a time so that makes the $4 fee relatively more expensive. Some ATM operators also charge around $3 to $5 withdrawal fee, but there is usually one around that doesn't charge.
If Argentina is on our itinerary, we try to leave home with enough US$ to cover that part of the trip so we can take advantage of the black market rate which is about 60% better than official rate.
|
6 Aug 2015
|
Registered Users
Veteran HUBBer
|
|
Join Date: Jul 2007
Location: No Fixed Address (formerly Toronto)
Posts: 1,847
|
|
If you can, try to use a no FX credit card instead of continually withdrawing cash. It's cheaper and less hassle in the long run *if* you are in a country that accepts credit cards.
We use the Chase Canada Amazon.ca Visa card, which uses the bank's listed foreign exchange rate with no additional surcharge or commission. Normal credit cards will charge you upwards of 2.5% commission on the listed rate, which adds up to a lot over time.
|
10 Aug 2015
|
Registered Users
Veteran HUBBer
|
|
Join Date: Feb 2012
Location: las vegas
Posts: 131
|
|
charles schwab card online banking charges zero fees for withdrawal or transaction and give wholesale rates...i have used it in 78 countries RTW so far no issues
|
Currently Active Users Viewing This Thread: 1 (0 Registered Users and/or Members and 1 guests)
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
Check the RAW segments; Grant, your HU host is on every month!
Episodes below to listen to while you, err, pretend to do something or other...
2020 Edition of Chris Scott's Adventure Motorcycling Handbook.
"Ultimate global guide for red-blooded bikers planning overseas exploration. Covers choice & preparation of best bike, shipping overseas, baggage design, riding techniques, travel health, visas, documentation, safety and useful addresses." Recommended. (Grant)
Ripcord Rescue Travel Insurance™ combines into a single integrated program the best evacuation and rescue with the premier travel insurance coverages designed for adventurers.
Led by special operations veterans, Stanford Medicine affiliated physicians, paramedics and other travel experts, Ripcord is perfect for adventure seekers, climbers, skiers, sports enthusiasts, hunters, international travelers, humanitarian efforts, expeditions and more.
Ripcord travel protection is now available for ALL nationalities, and travel is covered on motorcycles of all sizes!
What others say about HU...
"This site is the BIBLE for international bike travelers." Greg, Australia
"Thank you! The web site, The travels, The insight, The inspiration, Everything, just thanks." Colin, UK
"My friend and I are planning a trip from Singapore to England... We found (the HU) site invaluable as an aid to planning and have based a lot of our purchases (bikes, riding gear, etc.) on what we have learned from this site." Phil, Australia
"I for one always had an adventurous spirit, but you and Susan lit the fire for my trip and I'll be forever grateful for what you two do to inspire others to just do it." Brent, USA
"Your website is a mecca of valuable information and the (video) series is informative, entertaining, and inspiring!" Jennifer, Canada
"Your worldwide organisation and events are the Go To places to for all serious touring and aspiring touring bikers." Trevor, South Africa
"This is the answer to all my questions." Haydn, Australia
"Keep going the excellent work you are doing for Horizons Unlimited - I love it!" Thomas, Germany
Lots more comments here!
Diaries of a compulsive traveller
by Graham Field
Book, eBook, Audiobook
"A compelling, honest, inspiring and entertaining writing style with a built-in feel-good factor" Get them NOW from the authors' website and Amazon.com, Amazon.ca, Amazon.co.uk.
Back Road Map Books and Backroad GPS Maps for all of Canada - a must have!
New to Horizons Unlimited?
New to motorcycle travelling? New to the HU site? Confused? Too many options? It's really very simple - just 4 easy steps!
Horizons Unlimited was founded in 1997 by Grant and Susan Johnson following their journey around the world on a BMW R80G/S.
Read more about Grant & Susan's story
Membership - help keep us going!
Horizons Unlimited is not a big multi-national company, just two people who love motorcycle travel and have grown what started as a hobby in 1997 into a full time job (usually 8-10 hours per day and 7 days a week) and a labour of love. To keep it going and a roof over our heads, we run events all over the world with the help of volunteers; we sell inspirational and informative DVDs; we have a few selected advertisers; and we make a small amount from memberships.
You don't have to be a Member to come to an HU meeting, access the website, or ask questions on the HUBB. What you get for your membership contribution is our sincere gratitude, good karma and knowing that you're helping to keep the motorcycle travel dream alive. Contributing Members and Gold Members do get additional features on the HUBB. Here's a list of all the Member benefits on the HUBB.
|
|
|