Hi folks! I'll be doing some traveling later this year from May onwards, and am trying to establish the most cost effective way to spend my rands overseas. Two options have presented themselves:
1) Open overseas foreign currency account
Convert my rands to foreign currency (e.g. using Currencyfair or Shyft), and then send that foreign currency overseas to a bank account I open.
or
2) Use SA credit card
Use a South African credit card to make all my purchases overseas and let that cc provider handle the currency conversion e.g Visa or Mastercard.
Does anyone have any experience travelling and using either or both of these methods and can provide advice on which is the more cost-effective? I'll be travelling throughout the Nordic countries/South Korea/the US/the UK/Ireland. First time travelling and wanting to find out as much as I can about how to spend rands wisely overseas!
1) Open overseas foreign currency account
Convert my rands to foreign currency (e.g. using Currencyfair or Shyft), and then send that foreign currency overseas to a bank account I open.
or
2) Use SA credit card
Use a South African credit card to make all my purchases overseas and let that cc provider handle the currency conversion e.g Visa or Mastercard.
Does anyone have any experience travelling and using either or both of these methods and can provide advice on which is the more cost-effective? I'll be travelling throughout the Nordic countries/South Korea/the US/the UK/Ireland. First time travelling and wanting to find out as much as I can about how to spend rands wisely overseas!