Using my Visa Debit Card Abroad (New Zealand)?

Question

I am going to New Zealand in a couple for weeks time and was wondering what I should do - should I take a mixture of cash and travellers cheques or should I just draw money when I get there. Does anyone know how much I will be charged each time I draw out cash with my LLoyds Visa Card? What is the best currency to take travellers cheques in for New Zealand?

Answer 1

Hi Louise

I am a New Zealander living here in New Zealand.

The previous answerer (Ian) has given you the best advice. Take UK pound travellers cheques and NZ$ cash. That way, if you have any Tcs left over (yeah right!! :-)) you wont get a double hit on the exchange rate when you take them back to the UK. The New Zealand dollar is quite strong at the moment but I suspect it will weaken soon, so coming with pounds might be to your advantage. Use credit cards and cash cards as little as you can - not only do you get overcharged for their use, but you get killed on the exchange rate. Don't bring Aust$ - we are an independent country and Australian dollars are no more used here than English pounds; why anyone would tell you to bring Aust$ cash or travellers cheques I have no idea. Also, there are no Lloyds Banks here. What the answerer may be referring to is a bank called the National Bank which, because it used to be owned by Lloyds Bank, has the same symbol (a black horse) but National Bank was sold by Lloyds some time ago to the ANZ Bank. There is no link anymore.

Finally, thanks for deciding to come here for your holiday. We love tourists and you will be made to feel welcome I am sure. I hope your visit is everything you want it to be. And remember - spend spend spend!!!!!!

Answer 2

You certainly shouldn't be using a debit card day-to-day like you do here:

Debit Cards – 1.5 % of the amount with a minimum transaction charge of £2 and a maximum of £4.50.
Cashpoint Cards – 1.5% of the amount (Minimum £1.50) per transaction.
We convert the amount to sterling using our exchange rate on the date we take the money from your account. We also include a conversion fee of 2.75%.

The last I heard, American Express travellers cheques only charged a commission of 1% - but this evidently varies:

Is there a fee to purchase Travellers Cheques?
Fees vary from establishment to establishment. Some may charge a nominal fee, while others offer Travellers Cheques fee free as a service to their customers.

If you purchase travellers cheques, make sure they are either in pounds or New Zealand dollars (though I don't think Amex do NZD cheques). Some companies advise travellers to New Zealand to have cheques in Australian dollars. Don't do this. If you do, you will be hit with exhange rate losses twice: when you convert pounds to Aussie cheques and again when you convert Aussie cheques to Kiwi money. Use sterling cheques and you'll only be charged once.

Answer 3

Amusing enough.. there are Lloyds Banks in New Zealand.. but not our version so you wouldn't get charged!!
I went over and took cash and got money out using my debit card, HSBC.. but i can't remember how much i got charged each time.. bearing in mind i was taking money out virtually every other day.. amazing how quickly you can spend!
If i was taking travellers cheques i would take Sterling.
Have a great time!!

Answer 4

Don,t use your Ever,
What if you lose it ??
What if you over spend ??
How can you budget ?

Take Cheques Only, Lets say you can spend 50 pounds a day !
14 x50 that's 700 pounds, That's it , What hard about that ?

Now if you use your card and you take out 14 x 50 That's 700 pounds for you 70 pound for Lloyd's,

Hope this helps Short and sweet David B

Answer 5

Your should only use your card as a backup because lloyds are one of the worst for charges, The currency there is New Zeland dollars and then your travellers cheques you can take in either sterling, us $ or australian dollars any of these will work for you, if you might not spend them personally i would take sterling as you may lose on the rate otherwise when you bring them back or if you will probably spend them myself i would take australian tc

Answer 6

Travellers cheques are the best bet rather than your debit card, the charges for overseas use is terrible, i have recently return from America where i used my card, i got charged by my bank a minimum of £5 everytime i used it depending on how much i spent, the more you spend the more they charge.

Answer 7

All the UK baks have recently increased the charges to use cards whilst abroad so don't use it unless you have to . Take travellers cheques and cash. Have a great time.

Answer 8

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