Best travel money arrangements 'depend on individual preference'

Friday 02 December 2011

Article by Mozo

The best travel money arrangements can vary depending on individual preference, according to head of retail banking and wealth management at HSBC Australia Graham Heunis.

He told the Sydney Morning Herald some Aussies prefer to take wads of cash on holiday with them, while others opt to rely on a travel credit card instead.

Many are starting to incorporate both into their plans, he added, with plenty taking a reduced amount of foreign currency and supplementing this with their plastic.

"When I travel, I take a little cash, my debit card and my credit card. We see a growing number of our customers doing it that way," Mr Heunis was quoted as saying.

He added that a lot of travellers like to get their money exchanged before they board the plane, as this gives them a clear budget to stick to and reduces the temptation to spend lavishly on a credit or debit card.

Ben Knieff of financial crime specialist NICE Actimize recently told that Aussies should not be anxious about using a travel credit or debit card abroad.

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