A card to plug the cash leaks

I do quite a lot of overseas travel and am tired of having my funds eaten up by hefty conversion and foreign bank ATM fees. Are there websites that compare the credit card and ATM fees of different banks? Which product is the cheapest means of accessing foreign money?

- A. West, New Lambton.

Choice (choice.com.au) has a couple of handy websites on this topic. Key in travel money in the search box on the Choice homepage and you should find a link to a survey titled Travel money buying guide. This survey compares the ATM fees and currency conversion fees the big five banks charge when you use your credit card to withdraw cash overseas. Note that in the case of the Wizard Clear Advantage MasterCard (wizardclearadvantage.com.au), the ATM fee, cash advance fee and every other way in which the banks nibble at your hard-earned cash are all zero; this is the card I recommend for travellers.

Another useful Choice page is titled Travel money cards quick review. The page points out things frequent travellers need to know about cards, such as the different restrictions that apply to use, including daily and yearly reload limits. The site also has easy-to-read comparison tables. Using data from Canstar Cannex, Choice covers hundreds of banks, building societies and credit unions to calculate the average fees for overseas card purchases and cash advances. Fees for overseas transactions on debit cards are also compared.