What's the best way, & prices of, taking and withdrawing money in Vietnam/Laos/Cambodia?
I'm a young australian travelling to SE Asia at the end of the year for two months, and am having money issues.
I've been told many different methods for taking and withdrawing money. I realise that I will need a few hundred dollars cash on me while I'm traveling (Is that right?), but am very unsure about what to do with traveler's cheques and ATM cards.
Which is better? Should I use both? and importantly what are the fees for withdrawing cash via an ATM over there and getting cheques made up?
Anyone's knowledge of this is better than mine and any advice would be much appreciated.
Cheers, Ned
Reply to this i wouldn't bring travellers cheques if i were you ... they're pretty much useless (except in case of emergency) and you can get by just fine with your bank card. 😊 check with your bank though for charges on withdrawls overseas, we pay $5 for each withdrawl, so to make it worth it we always withdrawl the max and then hide it all over our bags/bodies in smaller amounts.
Reply to this oh yah and the anz bank in vietnam allows a withdrawl from the atm of 9.9 million dong, which is far more than any other banks! we tried to enter the country with the amount on us that we would spend, but ran out and some other really nice travellers shared that little tip with us 😉 (otherwise, most banks allow a withdrawl of about 3 million dong)
Reply to this I dont think you need to carry anymore than 150US anytime, ever, and mostly I have a 50US on me max.... the longer you travel yoiu will pick up Riels, Baht and Dong....
Atm machines are available in every major town but check you use a fairly well posted one.. Check dodgey ATM on safe traveller.. SOme have security sitting in front or some are in 4 / 5 star hotels.. Keep in mind that if you are low on cash and have an emergency, flash your aussie passport and you will find you are immediatly accepted for at least a few hundred credit... They may want your passport as a deposit but in an emergency it will save your ass..
Ring your bank before you leave and tell them where you are travelling or they may cancel your card whilst in low communication part of the world and they see a transactiopn happen, this is only the case with visa, mastercard etc.... Normal ATM cards are OK...
DOnt panic... They love your cash over there and will make easy access to it for you..!!
Reply to this In Thailand it is real easy to cash travelers checks, only bring the largest denominations with you. Other countries you travel to less easy. I take cash, travelers checks (Thailand) and a debit card with me. I also have a credit card that I keep for emergencies only. For travelers checks in Thailand only take the largest size you can get, there is a 33 baht cashing fee but you do get a little more in exchange for a TC than ordinary cash. (Some credit unions sell travelers checks to their members without any charge, by the way.)
I move money from my bank account to my credit union account before I leave on a trip. I use a DEBIT CARD from that credit union account (MasterCard logo.) My credit union pays my ATM charges, even when overseas. You could find a credit union or bank which pays for overseas ATM charges and use a debit card. When I need additional money in that debit card account I can make an electronic transfer from my bank to the CU account. Some CREDIT CARDS have big ATM fees per withdrawal, take out the maximum you can to cut down on lots of ATM fees for cheap withdrawals.
For Vietnam, Cambodia and Laos DO NOT leave those countries with their local currency, hard to unload it - no one wants it!
Good recommendation to notify your bank that you will be overseas. Otherwise your money withdrawal may be denied at an ATM because they suspect fraud. I don't pay for cheap things with a credit card or debit card - use cash for cheap purchases to cut down on fraud. This is especially true in charging cheap meals in restaurants! When you find that you have extra charges on your CC or Debit card you will be a thousand miles away and 30 days later!
I use Bill Pay through my bank to pay bills when I am out of the country. I do rely a lot on the internet for money exchanges and bill paying. Some ATMs in Asia may require a 4 digit pin number. Always have a back-up debit or credit card with you in case your card gets "eaten" by the ATM! I only use an ATM that is near their bank during hours that the bank is open, this way the bank can open the ATM and get the card for me!
Have a nice trip!
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