Category: Money Matters
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Sub category: Travel
1 April 2016

The pros and cons of travel payments

Here’s the scenario. You’re overseas at a restaurant and midway through your mouth-watering meal you realise you’ve forgotten to transfer money to your Orange Everyday account. There’s no cash left in your wallet and zero Wi-Fi available to quickly transfer cash from your savings account. What do you do? (Aside from offering to do the dishes).

Well, it might be a bit late to get help in a tight spot like that. What we can do is help to make sure you understand all of your options for paying overseas before you go so you can avoid these situations in the first place. If you’re after tips on making sure you save money while you’re travelling, read through our five pre-trip tips to help you prepare for your trip.

Is cash still king?

Like chocolate or red wine, travelling with cash is great in small doses. It’s accepted everywhere and it might even help you to negotiate a better price. The biggest challenge you face is security. If you lose cash or have it stolen, you may need to rely on your travel insurance to get it back. Even then there could be a maximum for how much you can claim.

Try to figure out when cash might be an essential item. Think airport transfers, tipping, accommodation deposits or shopping at the markets. Buy enough local currency before you fly for the first couple of days and be aware of the rates offered at currency exchange offices, especially if there’s a ‘no fee’ policy. Try to avoid buying money at the airport – fees and charges are generally higher.

Love thy card

Most places around the world will accept cards and your bank can monitor transactions for unusual activity. What’s not to love about credit and debit cards? Well…sometimes it can be the unexpected fees and charges when you’re travelling. Also, exchange rates can vary, so you won’t always be able to coordinate your spending with a strong Aussie dollar.

Ask your bank about the fees and charges that come with card payments and ATMs, and integrate them into your budget. See if there are any ways that you can avoid these fees – for instance, ING Orange Everyday and Orange One customers can get global ATM fees rebated and avoid ING international transaction fees when they deposit $1,000 or more per month into an Orange Everyday and also make 5+ card purchases that are settled (not pending) every month on your account.

Consider mixing card and cash payments to pack as much value into your spending as possible. Don’t forget to take note of your PINs and keep them safe! You never know when a signature won’t be enough to finalise a payment.

Prepay your way

Planning to hit the shops or make good use of that round-the-world flight? A prepaid travel card might be for you. You’ll be able to lock in exchange rates and load up the card with different currencies, and there’s a good chance the overseas charges will be lower than what comes with your credit or debit card. The downside? There can be fees to set up and reload the card, and it’s harder to take advantage of any exchange rate spikes while you’re away.

Try to stick with a credit or debit card for short-haul travel, as you’re more likely to save money on overall fees and charges. For longer trips, consider the likelihood of exchange rate fluctuations in the countries you’re visiting and how often you’ll use the card to get a rough idea of how much extra you’ll need.

Don’t forget about the travellers’ cheque

Is it safe to be carrying cash where you’re headed? Will there be ATMs? If you’re doubtful, travellers’ cheques are worth considering. You can use travellers’ cheques like cash and because each cheque is safeguarded with a unique serial number, you can get them replaced within 24 hours if they’re lost or stolen. Plus, you can lock in exchange rates at time of purchase and take advantage of any spikes in the Aussie dollar!

Because a decreasing number of businesses accept travellers’ cheques, it’s important not to rely on them as your sole method of payment when overseas. Consider keeping a small amount in travellers’ cheques as a backup plan, be sure to write all serial numbers down and make note of the number to call in case the cheques are lost or stolen.

If you’re an ING customer…

If you have an Orange Everyday or Orange One card, you can avoid ING international transaction fees and receive rebates on any ATM fee in the world within five business days. To be eligible, you’ll need to deposit your pay of $1,000 or more per month and also make 5+ card purchases that are settled (not pending) every month on your account. (A cash advance fee applies for any cash advance with Orange One.)

You can also take advantage of the ING app to help you to track your spending while you’re away. Try to stick with secure networks, like your hotel Wi-Fi – while the app is encrypted, you don’t want any other information to be compromised!

For more information about how you can save on global fees, visit us here.



Rebate Offers for Orange Everyday, Orange One and Orange One Platinum customers


The Global ATM Fee Rebate Offer and the International Transaction Fee Rebate Offer will apply for the next calendar month when you perform the following during the current calendar month:

  • deposit at least $1,000 from an external bank account to any personal ING account in your name (excluding Living Super and Orange One), and
  • also make at least 5 card purchases that are settled (and not at a ‘pending status’) using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions).


Card purchases includes in store credit or EFTPOS purchases, online purchases, regular card payments, payWave, Apple Pay and Google Pay transactions made with an Orange Everyday Visa card, Orange One or Orange One Platinum Visa card or Nil Interest Visa card provided with an eligible ING home loan. When using the phrase ‘settled’ card purchases in a calendar month, we mean that the purchases made on your card must be fully processed by the end of the last day of that month. Card purchases made in store or online this current calendar month which are at a ‘pending status’ and do not settle until the next calendar month do not count towards the 5 card purchases needed this current calendar month.


When determining if you are eligible under the offer, we also take into account the behaviour of any of your joint account holders or additional cardholders.


If eligible:

  • for ATMs in Australia – any ATM fee charged by the ATM operator is rebated immediately following the transaction,
  • for ATMs outside Australia – ING will rebate the International ATM withdrawal fee of $2.50 immediately after it is charged and rebate any ATM fee charged by the ATM operator at settlement of the transaction. While the transaction is pending the amount of the acquirer fee will be deducted from your available balance and will be reinstated after the transaction is finalised. ATM transactions outside Australia can take up to 5 business days to finalise, and
  • for ING international transaction fees – ING will rebate the International Transaction fee (Orange Everyday) and Foreign Currency Conversion fee (Orange One and Orange One Platinum) of 2.5% of the amount of the international transaction immediately after it is charged. Merchants may charge you a separate fee for their services (which is not rebated under this offer).


If eligible, the offer applies to:

  • all Orange Everyday accounts held in your name (either single or joint account), and
  • all Orange One and Orange One Platinum accounts held in your name (including in respect of any additional cardholder).


The ING cash advance fee for Orange One and Orange One Platinum customers is not rebated under this offer.


This offer may be changed or withdrawn at any time at ING’s sole discretion.

The information is current as at publication. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Deposit products, savings products, credit card and home loan products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823. ING Living Super (which is part of the ING Superannuation Fund ABN 13 355 603 448) is issued by Diversa Trustees Limited ABN 49 006 421 638, AFSL 235153 RSE L0000635. The insurance cover offered by ING Living Super is provided by Metlife Insurance Limited ABN 75 004 274 882, AFSL 238096. ING Insurance is issued by Auto & General Insurance Company Limited (AGIC) ABN 42 111 586 353 AFSL Licence No 285571 as insurer. It is distributed by Auto & General Services Pty Ltd (AGS) ABN 61 003 617 909 AFSL 241411 and by ING as an Authorised Representative AR 1247634 of AGS. All applications for credit are subject to ING's credit approval criteria, and fees and charges apply. You should consider the relevant Product Disclosure Statement, Terms and Conditions, Fees and Limits Schedule, Financial Services Guide, Key Facts Sheet and Credit Guide available at when deciding whether to acquire, or to continue to hold, a product. Before interacting with us via our social media platforms, please take a minute to familiarise yourself with our Social Media User Terms

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