Wheels

I am a Canadian travelling in Australia for a month.

Someone told me you get the exchange rates by using your credit card if
you put extra cash in the account beforehand.

I have a choice between Mastercard and American Express.

Which would give the best rate and lowest trannsaction fees?

I know that Amex is generally not accepted in stores in Australia.
Does this apply to bank machines as well?
What are people's experience using either?

Thanks.

Kerry

"Wheels" <[email protected]> wrote in message
news:[email protected] oups.com...
    > I am a Canadian travelling in Australia for a month.
    > Someone told me you get the exchange rates by using your credit card if
    > you put extra cash in the account beforehand.
    > I have a choice between Mastercard and American Express.
    > Which would give the best rate and lowest trannsaction fees?
    > I know that Amex is generally not accepted in stores in Australia.
    > Does this apply to bank machines as well?
    > What are people's experience using either?
    > Thanks.

You may want to check with the bank who issued your MC and with Amex before
you overpay either card.

Overpaying on a credit card was legitimate and easy way of hiding money, so
the practice in many countries was outlawed. So your bank or Amex may send
you back a check equal to the amount you overpayed.

The proper way to do it, is to go to a bank or financial institution like
Amex and open up a debit account. They'll then issue you with a card that
looks just like a normal Visa, M/C or Amex except it will be connected to,
and draw money from a savings/check account. You can also use it for
purchases.

Transaction fees are much the same from bank to bank.

Brian Graham

MC is more widely accepted in Australia.
AMEX is probably accepted by 85%, do not usually have problems
when dining, but some shops don't like it.
Visa is also as accepted as MC.
More banks offer debit options for VISA.

Travellers cheques are easily cashed at most banks.

I would go for a VISA debit card if possible. Even if you
have to set up a new account to get it.

--
Brian Graham
(Sydney Australia)

"Wheels" <[email protected]> wrote in message
news:[email protected] oups.com...
    >I am a Canadian travelling in Australia for a month.
    > Someone told me you get the exchange rates by using your credit card if
    > you put extra cash in the account beforehand.
    > I have a choice between Mastercard and American Express.
    > Which would give the best rate and lowest trannsaction fees?
    > I know that Amex is generally not accepted in stores in Australia.
    > Does this apply to bank machines as well?
    > What are people's experience using either?
    > Thanks.
    >

Frank Slootweg

Wheels <[email protected]> wrote:
    > I am a Canadian travelling in Australia for a month.
    >
    > Someone told me you get the exchange rates by using your credit card if
    > you put extra cash in the account beforehand.
    >
    > I have a choice between Mastercard and American Express.
    >
    > Which would give the best rate and lowest trannsaction fees?
    >
    > I know that Amex is generally not accepted in stores in Australia.
    > Does this apply to bank machines as well?
    > What are people's experience using either?
    >
    > Thanks.

These are FAQs (Frequently Asked Questions). Since you are posting
with Google (Groups) you might as well use it to search/browse for
recent discussions on these topics.

Some pointers (click "Complete Thread (.. articles)" to see the whole
thread):

Thread "Currancy Exchange" [sic], starting December 13 (very long, but
very worthwhile):
<http://www.google.ca/[email protected]>

Thread "Payment in Austalia^" [sic], starting December 14:
<http://www.google.ca/[email protected]>

Lolita Tan

Hi

You may get a better rate with MC. AMEX uses the end of month rate
which may or may not be in your favor.

Most shops do take AMEX.

Lolita



Wheels wrote:

    > I am a Canadian travelling in Australia for a month.
    >
    > Someone told me you get the exchange rates by using your credit card if
    > you put extra cash in the account beforehand.
    >
    > I have a choice between Mastercard and American Express.
    >
    > Which would give the best rate and lowest trannsaction fees?
    >
    > I know that Amex is generally not accepted in stores in Australia.
    > Does this apply to bank machines as well?
    > What are people's experience using either?
    >
    > Thanks.
    >