Travel

Asia: Cash/Traveller's Cheques/Debit/CC?

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  • Sep 28th, 2005 12:03 am
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Deal Addict
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Sep 29, 2003
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cko64 wrote:You can't use PC Financial card outside of Canada.

Anyway, after I actually used the Cash Passport on a trip oversea recently, I now retracting my statement. It is not a good way to withdraw money oversea. It's cost too much. The cheapest way still is from HSBC at $2 per withdrawal at current bank rate.
Really? I can't use my PC Financial card outside of Canada?! I guess my only option is the CAA Passport. How much are the charges per withdrawal.
Sr. Member
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Oct 14, 2001
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ericw wrote: Bring 100-200 US dollars in 1 dollar bill for tips
Hrm . . . I didin't tip in Asia . . . Service was usu already included in the bill . . .

I also did the All Asia Pass, I took ONLY US travellers checks and about 200$ in US cash. The most expensive i ever paid for commision was 5USD.

Try to find out what the best banks or currency exchanges are to get your best exchange. For Japan it happened to be the Post Office and in China only the Bank of China could cash them so you really didn't have any choice. I only brought one CC for emergencies.

When I was travelling I found that people who were relying on their plastic they were having alot of trouble finding international ATMs, esp in Japan.

The only other problems you have to watch out for is counterfeit money, it seems to be a big problem over there.
Newbie
May 8, 2005
46 posts
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Toronto
you can use your debit card in Japan, but not many ATMs in japan take foreign debit cards except in narita airport, or shinjuku Citibank. When you see a citibank, you should be able to use your debit card.

I think PC finainal debit card can take cash outside canada since it's just a CIBC debit card anyways. Check the back of the card, if it has the "plus" sign, it can be used with any "Plus" ATM internatioanlly. I think Debit card has decent exchange rate, compared to excahnging money at the airport or other money exchange locations. For example, the transaction fee is $5, when you take 1K out, it's just 0.5% for transaction fee, which is very reasonable. CIBC charges you $6 per transaction when you exhange forrign currency at the branch. So, I still believe getting cash out from ATM is a pretty good way to get cash in Asia. In HK, you cna always use your debit card to get cash, almost all ATMs are "plus" ATMs :)

by the way, I only got charged for $3 for getting cash with debit card in Taiwan last year :P
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Nov 6, 2003
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xxxi wrote:I think PC finainal debit card can take cash outside canada since it's just a CIBC debit card anyways. Check the back of the card, if it has the "plus" sign, it can be used with any "Plus" ATM internatioanlly. :P
You are right, PCF card can be used outside of Canada now. As long as the machine is "Plus Network". I just checked the back of my card, there is no "Plus" symbol, but according to the CSR, the PCF card can now be used outside of Canada.
Member
Apr 8, 2003
204 posts
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Toronto
I looked into cash passport a number of months ago. I called the customer service number to find out their charges. True enough it's $3 per transaction, however they also charge a ridiculous 5% on currency conversion. I asked how they could get away with that in the marketplace and they admitted it was high, but that many customers liked the convenience especially when giving one to their children on vacation. While the convenience is certainly there, it does come at a cost.

I chose to Interac.

NV
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NoahVail wrote:I looked into cash passport a number of months ago. I called the customer service number to find out their charges. True enough it's $3 per transaction,
Whoa! Thanks for the headsup. I was about to go to CAA and get one.
I'll just stick to using the PC Financial Bank Card at the 2.5% currency conversion rate.
Jr. Member
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Dec 28, 2004
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What about "cash advance" from a CC account which is having positive balance?

if the cc account is in positive balance, they can't charge interest right?

do credit cards usually charge transaction fee on cash advance?
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Nov 6, 2003
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NoahVail wrote:I looked into cash passport a number of months ago. I called the customer service number to find out their charges. True enough it's $3 per transaction, however they also charge a ridiculous 5% on currency conversion. I asked how they could get away with that in the marketplace and they admitted it was high, but that many customers liked the convenience especially when giving one to their children on vacation. While the convenience is certainly there, it does come at a cost.

I chose to Interac.

NV
I learned the hard way. five months ago, when I inquired about the Cash Passport @ CAA, it was so new, they didn't know about this information. Then I went to Europe and used the Cash Passport, that was when I found out that beside the $3 transaction fee, they also charged outrageous conversion fees. So, Cash Passport is NOT is good way to withdrew money oversea! Stick to bank card, then credit card, then traveller cheques, then cash...
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Nov 6, 2003
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MagicWater wrote:What about "cash advance" from a CC account which is having positive balance?

if the cc account is in positive balance, they can't charge interest right?

do credit cards usually charge transaction fee on cash advance?
I inquired about having a huge positive balance before going for a trip and withdraw money from CC along the way. The CSR said doesn't matter if I have a positive balance or not, once you withdraw money from CC, it is considered cash advance which charge 18% or whatever rate you have negotiate with your CC company. No go.
Member
Apr 8, 2003
204 posts
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Toronto
A couple of tips for the UK:

1. Many department stores do NOT charge third-party fees for ATMs. Tesco is one, but watch for signs around the various ATMs advertising this benefit.

2. Some hotels and stores are 'asking' if you'd like to have your transactions done in your home currency. As a rule, turn this option down, especially at hotels as there conversion rates are NOT favourable. One place that was OK was Harrod's, but other than souveniers and sandwiches at the LHR outlet, I don't shop there much.

Cheers.

NV
Member
Apr 8, 2003
204 posts
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Toronto
cko64 wrote:I inquired about having a huge positive balance before going for a trip and withdraw money from CC along the way. The CSR said doesn't matter if I have a positive balance or not, once you withdraw money from CC, it is considered cash advance which charge 18% or whatever rate you have negotiate with your CC company. No go.
I had a similar conversation with my CC supplier and was told that yes there would be cash advance fees, but no interest until I hit a 0 credit balance. However they could/would reverse the cash advance fees if I called and explained upon my return. I had argued that they don't do this for the cheques I write against the postive balance, which are treated as cash advances. Remember, a lot of Credit Cards are technically Lines of Credit and processed within the same system, so whether debits are from cheques or cards is irrelevant - its a debit.

I did not attempt this, however, so I can't say if it works or is just one more example of inconsistent practice among our credit card suppliers (rant).

NV

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