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Australia Travellers'' Cheques, Credit and Cash Cards



Travellers'' Cheques, Credit and Cash Cards

Travellers' cheques are the best way to bring your funds into Australia, as they can be replaced if lost or stolen (remember to keep a list of the serial numbers separate from the cheques). Australian dollar travellers' cheques are ideal as theoretically they're valid as cash and so shouldn't attract exchange fees, though smaller businesses may be unwilling to take them, and some banks do try to charge commission when exchanging them. Cheques in US dollars and pounds sterling are also widely accepted, and banks should be able to handle all major currencies. It's worth checking both the rate and the commission when you change your cheques (as well as when you buy them), as these can vary quite widely - many places charge a set amount for every cheque, in which case you're better off changing relatively large denominations. You'll need a passport to cash travellers' cheques.

Credit cards can come in very handy as a backup source of funds, and they can even save on exchange-rate commissions. They can also be used to leave a deposit - for example, for a rental car or a hotel booking - even

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if you settle the final bill with cash. MasterCard and Visa are the most widely recognized; you can also use Amex, Bankcard and Diners Club. In addition, with an international debit card you may be able to pay for goods via EFTPOS and gain direct access to your home funds via ATM machines displaying the Cirrus-Maestro symbol. As a flat rate is charged for these transactions, this can work out to be cheaper than travellers' cheques for large sums - check with your bank before leaving.


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10/11/2008 9:12:36 AM