Accessing overseas money

Thaiman

Gday, will be moving to Bali. My money will be in bank in Oz, permanently. How do I access it to live on?

davita

Thaiman wroteGday, will be moving to Bali. My money will be in bank in Oz, permanently. How do I access it to live on?

Most long-term tourists use Western Union but that can get expensive. If you are able to open a bank account in Bali then I suggest you use Transferwise to transfer/exchange, when the rate is good for you, to that account.

matsaleh

If you don't want to open a local bank account, go to the BCA Card Centre on Jl Raya Kuta and withdraw from your credit card. Can withdraw up to IDR 15 million per day/per card. BCA charges IDR 75,000 for each transaction. Transfer the cash to your credit card the day before, so you're not charged cash advance fees by Visa/Mastercard. You will need passport or driver's licence for identification.

Metter

CitiBank (Australia) are excellent. They have a savings account with free debit card and no currency conversion fees. Most ATMs in Bali are free to use, certainly all the big bank ones ( except commonwealth). I transfer from my main account to Citibank as needed. The other card free of fees is the 28 degree credit card, they do charge for cash withdrawals but free for purchases.

Thaiman

Metter wroteCitiBank (Australia) are excellent. They have a savings account with free debit card and no currency conversion fees. Most ATMs in Bali are free to use, certainly all the big bank ones ( except commonwealth). I transfer from my main account to Citibank as needed. The other card free of fees is the 28 degree credit card, they do charge for cash withdrawals but free for purchases.

Will there be a problem finding an ATM that will take the citibank cared?

Thaiman

Thaiman wroteWill there be a problem finding an ATM that will take the citibank cared?

card,not cared

Metter

Thaiman wroteWill there be a problem finding an ATM that will take the citibank cared?

I have used Maybank, BCA, BNI - They are free. It is rare that one states that it has a fee, when this occurs I just press cancel and get my card back. Been doing this for the last 6 years when visiting and never been charged. The only downside is that there is no interest on the savings account so I try to run in with minimal funds. Doing a BPay transfer from my Commbank or UBank to the citibank takes about 2 working days.

harryopal

As Davita already mention there is TransferWise. Before you use your own bank check the exchange rates. I was basically being fleeced by my Australian bank of hundreds of dollars before using TransferWise. If you pull up their website the opening page offers to show immediately a sample transfer and what you would get out at this end.