This a service by VISA. You put money into a card and you can get your money in the local currency at any VISA ATM. I'm debating getting it ($15) or regular traveller's cheques from AAA which are free. AAA is putting in a link from their website.

I assumed you get the best international exchange rate, but their answer only said it was the best bank exchange rate.

Also, I assume that if you use a credit card to fund it, you get hit by the cash advance charges.

I asked several question and these are the answers.

Where can I fund the card without using a credit card?

You can purchase the Cash Passport at the following locations in the USA:

1. Thomas Cook Shops
2. Travelex Offices
3. Oanda
4. Acis Students
5. Union Planters Bank
6. Netbank
7. Passport
8. Orbitz
9. North West Corp CU
10. Mid Atlantic
11. My Travel Wallet
12. www.travelex.com

Sales commission is $15.00.

What is the cost per transaction after first three free ones?

There is also a $1.50 transaction fee each time a withdrawal is made(first 3
are free).
The maximum loadable amount is $ 10,000.00. You can put money either using
credit card or paying cash.
Additional card fee is $ 5.00.
The card is reloadable at the purchase locations with a commision of $10.00
The card can be used in any ATM in the world which displays VISA logo.

What exchange rate do I get?

Exchange rates are determined by the individual bank to which the ATM
machine belongs to at the time you withdraw money.
Please visit www.cashpassportcard.com


Thank you for your interest in this product.
Kind regards,
cardservices@travelex.com

My previous system had always been, to have a Visa card which I OVERpaid to an exorbitant amount.

Example, if the credit limit was $10,000.oo I gave them an extra $2,500.oo for a two week trip, such that my "credit" became $12,500.oo and any cash advance withdrawn from an ATM that left the "credit" at $10,00.o1 or greater would cost me -0- zero in interest. Further, the exchange-rate automatically assessed would be the day's rate that the Visa computer used automatically (just like buying dinner), with no fees or points off of that.

Get it? It was a neat trick. Meanwhile, I kept a different Visa from a different bank for the "usual" Visa-style purchases, like dinner and t-shirts for the relatives. That way, no PURCHASES would lower my CASH BUFFER to where a WITHDRAWAL would put me in CREDIT zone on the "overpaid" card, and hence I'd incur no interest. Cash advance interest is, usually, quite high, relative to other rates on your card, and also is paid off LAST among all the debits to your monthly statement. (Yes, they do it in reverse order of benefit to the customer, of course.)

I don't know if you can still do that. I haven't been abroad for about 5 years ... which is another story.

I also always carried a little extra in American Express, and in the local currency, tucked away in secret, but that was just for emergencies. The over-paid Visa was the "main" stash of transferable funds.

Biggest disadvantage was, if the exchange rate progresses from favorable to unfavorable, you fail to lock in a significant amount at the better rate. But the same holds true as an advantage if the rate goes the other way. Also, it was obscenely convenient, and it kind of gave me a rush to constantly make cash-advance-type withdrawals but know that Visa wasn't going to get an extra penny from me. Like lighting a cigar with Monopoly money.

(Message edited by poppabear on February 28, 2003)

(Message edited by poppabear on February 28, 2003)

Nice information Poppabear, if you do get it I'd be really interested in hearing how it works out. I supposed you'd have to do at least one regular ATM withdrawal and compare the differences in rates. With the commission and since they still charge the ATM fee, I'm not sure if it's going to be worth the money and additional trouble, but maybe with a longer trip and if the rate is significantly different it will make a big difference. I think you should try it. If you don't, let us know, maybe I'll try it.

Looking over the post again, I see that being able to use it anywhere Visa is located is a plus. When using debit cards, they can only be used at a bank with the same network such as Plus or Cirrus. I've had some problems in Brazil with some ATMs for that reason.

Book guy, I'm unsure of the advantage of your system instead of just using a debit card with money you already have. Is it what I describe in the above paragraph or do you get around the ATM transaction fees or other fees or is there a rate difference?

d'Artagnan: regarding your question. My system outlined above is almost identical to having a debit-card, with minor changes.

Mine has the advantages of being accessible anywhere you can get a Visa cash-advance (rather than only in places that have ATMs which accept your card's network).

Mine has the psychological advantage of seeming like "sunk cost" because you already paid Visa some "extra money", and therefore all your withdrawals are "money you lost already anyway" (which, of course, is just me fooling myself, but hey!).

Mine has the advantage of not requiring a BANK ACCOUNT to perform the transactions. There will therefore be a (probably minimally) smaller number of fees, over the long haul, unless that bank account is one you already use for other purposes.

So, if you have the bank account that has a free debit card that can be accessed from abroad where you need it, then you will see minimal gain from using my system. If, on the other hand, you don't and you also don't want to go about trying to set that up, then you will see more gain from using my system.

Thing is, I don't actually KNOW if my system is legal any more. Visa might have rearranged their "how they pay it back" thing such that the buffer no longer does any good, and instead you incur cash-advance fees and interest.

So, I was only posting this for the fun of discussion. I'd say by far the EASIEST trick to use, is (as you suggest) a debit-card supplemented by standard purchases via credit-card, plus a few traveler's checks and pre-exchanged currency for emergencies.

I also go "credit card touring" on my bicycle -- load up a few tricky small bike tools, a tube-repair kit, and a pair of sandals, fill the water bottles, and head off with JUST the credit card to cover my needs. It's awesome, the sense of freedom. Of course, it's also exhausting ...

I couldn't get a cash Passport for my trip. It is too new. It is supposed to be available at Thomas Cook, but they said they don't have it yet. AAA says that it will be available on their Internet site in the summer.

I wound up getting Traveler's Cheques from AAA. It was a bad deal. Some places charged 3% extra for TC. I should have just paid the 3% for a cash advance and got my money from an ATM.

Wow you guys are over doing this! Just use your atm card from your checking and monitor how much your charged online! simple. I travel to cali with some frequency. I only bring enough to get a taxi cab back and forth to airport some ameerican cash. The rest is done by atm ! simple quick easy and I don't carry to much of the local pesos!

You're not worried about losing that ATM card on your travels? In your home town, losing your cash lifeline is easily solved becuz you have a place to sleep, relatives to skyve off of, etc., to belay the interim between the loss and a replacement. In Cali or Bogota ... what do you do?

Well for one I don't carry just one ATM card I have 3 or more depending. I can easily transfer money online at any internet location to move money as I need it. I have 5 bank accounts so the possibility of one card not working is easily solved by using another. When I give a credit card to a hotel for a room, I try and give them a cancelled credit card to see if they actually run the card before I check in. If they do I give them one I know works if not I let them think they've got all my money. Then I usually pay in cash every few days and monitor the daily and extra charges carefully. Since you have more time on vacation to see your bill then afterwards. every atm withdrawl is easily monitored on the internet and you can see how the daily rate is changing on the currency.

The above practices are only in Cali. I always pay cash there as I not crazy about using credit cards and not knowing the exact amt. Other suggestions or questions ask! I've been to Cali, costa Rica, germany , Yugoslavia, Belgium , Spain, Canada, and soon Veneuzuela and Brazil

I gather Amex also has a similar cash card now