[Tyrantasaurus]

Hi there,

Just sorting out the final bits and pieces for my Hong Kong trip in March

I am trying to figure out which is the best way to go money wise.

- get a certain amount of money in HK$ from the post office before I go, and once that is used, rely on my credit card (AUS PO's seem to have a good exchange rate) but the minimum is $500 AU$ and I am not sure I want to carry that much around? It wouldm't bother me really, I would split it up and carry it seperately. I like the idea of having cash on me.

- get a travel money card and load any spending money on that

- use my ATM card over there but I don't want to have to track down an ATM all the time

- use the credit card solely? I am thinking this would be a bit limiting as I am hoping to visit any markets that may not have eftpos?

What do you do when you travel?

Either way, I know I will need some HK $ on me for incidentals like a cup of coffee etc. I will be picked up at the airport along with a group of people so I don't want to hold anybody up by having to source $$ when I get to HK.

What are your thoughts?

[PrincessPeach]

If you want to do any shopping at the markets you will need cash.

$500 HK is not an excessive amount of funds really.

DH & I used a combination of cash, debit cards & credit cards. Also depending where you eat, sometimes it's better to pay for meals with cash, as some places take your card out of view to swipe.

[Tyrantasaurus]

Thanks princess peach,

I was looking at getting $500 AUD to carry on me, which is $3800 HK$, perhaps c/c the rest?

Or maybe travel money card the rest?

If I get a travel money card, and don't use all the money on there, can I get it changed back to AUD when I get back home?

[Apageintime]

I dislike the travel money cards so much, the conversion rates are bad and the % loading fee is always crazy too.

I just use my 28 degrees mastercard whenever I travel and draw a couple of days money off that at a time. I just make sure I pay the balance off ASAP and never get charged an interest.

[kriattica]

We were advised not to use our normal accounts when travelling overseas but to set up an account that only has a minimal amount in it an transfer more over as needed.

Also to advise your bank you are going away as if they think its sus you start using your card in Australia one day and Africa the next they will shut the account down.

[Apageintime]

Also to advise your bank you are going away as if they think its sus you start using your card in Australia one day and Africa the next they will shut the account down.

I've always heard this but it's never actually happened to me, and I go to some very odd places with work sometimes.

[Jayne174]

Taxi drivers also only take cash so you will definitely need cash.

You usually get a better exchange rate if you withdraw cash from an ATM over there than if you exchange it before you go.

The only issue is ATMs are not as numerous in Hong Kong as they are here. They are definitely around but can sometimes be a little bit harder to find.

I would probably withdraw cash from the HSBC ATM at HK airport (it is quite centrally located and easy to find). You shouldn't hold up your friends at all but if you are worried maybe exchange some money before you go.

[kriattica]

I've always heard this but it's never actually happened to me, and I go to some very odd places with work sometimes.

Happened to my Dad last month. He also goes to some very odd countries. It was a nightmare, he was stuck with no money. He lent some of a workmate and sorted it out when they got home. The bank wouldnt do anything until he was fac to face in the bank. They wouldnt even let my Mum sort it out and its a joint account, that they only use when Dad leaves Aus.

This post has been edited by kriattica: 22/02/2013, 09:45 AM

[*LucyE*]

I use a mixture of all of them.

I take some cash for small purchases and tips.

I use a travel card for general shopping because I can load multiple currencies (usually more Europe than short one destination holidays) and I can lock in exchange rates when it suits me. Mine is linked to my bank so minimal fees and I can move money across as needed. It gives me the advantages of a CC without the worry about currency conversion rates, international fees etc.

I use the CC for big purchases like accommodation etc. I agree with not using the normal account that you use at home. I find most hotels put a certain amount on 'hold' on the CC. We've had some put the entire amount on 'hold' and it can take quite a while to remove even after check out so essentially double the amount of the accommodation costs has been taken up on the CC.

Most of the places we go are fairly urban so finding an ATM for cash has never been a problem.

[Jayne174]

Another tip, make sure you get some smaller notes ($HK100 or less) and not just $HK500. Taxi drivers and many other smaller venders do not take kindly to being given $HK500 notes.