In Reply to: Luggage question and spending money posted by NurseNikki on Saturday, 3. September 2011 at 10:38 Bali Time:
Hi,
It is really up to you as each has their own preference for how they take / access money.
In the past I have taken cash & TC's in $100AUD lots & Used CC to pay for hotel or any emergencies - always advise CC company you will be using CC in Bali & your travel dates & the approx amount you expect to use & how many times you plan to use it (they may ask).
Allow for about $100 - $150 per day - a little more if you are doing a day trip & have to pay for driver for the day or activity or big expensive meal for all or big shopping.
I highly beleive that if you will be taking your CC - take one that is not your regular or primary CC (so not the one where your direct debits come out of). Leave the CC you take in the safe sealed in an envelope & sign over the seal... Think about if your primary card was to get lost, stolen or details used after you've left Bali it could be a hassle & impact on your important account if your bank is not helpful in their policies or your main card got maxed out due to fraud.
Really the last thing you want is problems on your everyday accounts & debits when / after you get home.
I use the cash first and then TC's (never had any problems with TC's at the Red & Blue PT Central money changer shops - only they wont take TC's on Sunday!! as banks closed & each cheque you cash they need to phone up to check ok before giving you the money)
With TC's the rate is a little bit lower - but I feel very safe with them (compared to Debit CC or Savings cards).. because TC's are no good to anyone unless: 1: They have your passport (photo id). 2: They look like you. 3: They can sign your signature. I always split my cheques half signed by me half by my partner.
I'm under 30 & do like technology but I do feel uneasy using cards loaded with MY MONEY for my whole trip overseas - the devil is in the detail of your agreement with the card issuer & their own policies & timeframes. Without knowing these you may have a surprise if you needed to get something sorted in a crisis.
There would be similar benefits with cash passport travel cards but I have never used these & would want to know what happens if the card is skimmed & someone empties the account... Would they replace the money & How long would it take... maybe a long investigation?
Looking at CBA website - they do a CBA Travel Card
Initial Money Load: Free - after initial load 1%
Withdrawl Fee $3.50 AUD
Currency Conversion Fee 2%
Not sure on CBA ATM withdrawl limit - it would be at least 1 mil rupiah (is around $109 aussie $ depending on rate) so for each 1 mil transaction your balance will drop by the converted amount in aussie (note the Card Issuer (CBA) rate for AUD to Rupiah will likely be lower than street rate) + fees of around 5.68 (withdrawl + 2% currency conversion)
The above brings attention to the last consideration 'Bang for Buck' ie how much you get for how much you pay - if possible work it out per $100 or per million rupiah (for comparison purposes) - see what works out better for your expected usage.
As mentioned - with TC's you will need to show your passport - they take a copy or write down the number. If you dont want to take your passport each day see if they can keep the photocopy handy for the next day - save you having to take the passport again.
There are some changers that wont take TC's generally the ones that do take them will have a rate listed for TC on their exchange rate boards.
Hope this helps