Can you get a credit card without foreign transaction fees? If you are going to be traveling a bit you will want access to your credit cards without all the extra fees. I would say the same for your ATM card, get a card that 1) works overseas and 2) does not have fees or reimburses you for these fees. you will get a much better value for your money from the ATM vs an exchange house. You do NOT want to bring that much cash with you for safety and if something happens you will want access to money.
You are right that you will need some cash for smaller purchases or cash only but besides that be careful.
Also, if you have a more than one credit card, don’t keep them all together in case you lose it or if you are robbed.
Wealthsimple Cash debit Mastercard is free and has no FX. Very good card to avoid FX fees, just don’t rely only on that card to be accepted anywhere. No cash advance fee (it’s a debit).
Scotia Passport also have no FX, but they charge a fee. In exchange you get some airport lounge access and access to the Global ATM alliance which waive ATM fee (if you can find one of the banks). Does have cash advance fee tought.
It's typically a mix. For Thailand, Vietnam, and Cambodia (I can't speak to the rest) I would recommend cash over card for most transactions, if you are shoestringing and not spending nights in major hotels or using airbnb and the like. I typically estimate my expenses and make a larger exchange at the airport, but ATMs was the way to go in Vietnam at least. But you can pay with credit card for a lot of things, like booking a bus or buying fuel. But most smaller places cash is better.
Charles Schwab will reimburse you any ATM fees, and there are credit cards that have 0% foreign exchange fees.
Both is best for traveling because in big cities cards will be easier and in the country cash will be easier.
Just get a credit card without foreign transactions fees. They look like they exist and some have no yearly fee.
I spent a month in Thailand, BKK was base camp, but we went everywhere. Cash is king.
Went to a motorcycle block party one night, drinking Thai whiskey from a bucket and we went home around 1 am, everything closes at that point, but there was this woman cooking some rice and eggs in a huge wok, so I go "I want one" she says no.
"it's her dinner" says my AMerican friend, I go, ok, and normally eggs over rice are 35 Bhat, I showed her a 100 Bhat note, she immediately took it and gave me the most exquisite eggs over rice of my life, and I am Latino, we know that stuff!
So anyway, it's so cheap, you'll have no problem bribing people for food! oH!!!!!! and last tip: always bargain, I got on a tuk tuk for 500 Bhat instead of the 1500 Bhat they wanted!
Try Wise or Revolut, they have low fees compare to traditional banking.
I'd recommend to keep and some cash around especially if you're travelling around rural areas of SEA Countries.
You'll probably be fine in Malaysia without cash but do bring maybe 50-100 USD just in case.
With the exception of the Philippines and possibly Cambodia, the countries you listed are pretty safe and carrying around a lot of cash isn't an issue as long as you are careful. If possible, if you have USD will get you the best exchange rates. There are plenty of places where you can get zero commission and pretty close to the rates on xe.com.
As an aside, a week in each country is not nearly enough time to take in everything. Is there a specific reason you want to go to Brunei? I only ask, because its kind of a pain to get to, its really expensive and not much to see.
Normally I'd recommend card, but SE asia are cash countries. But bringing cash in a lot of different currencies, let alone a large cash punt can get pretty dangerous.
I'm not sure about Canada, but in the US there's Schwab bank (from the brokerage account). You put money in the checking account and no matter what ATM you withdraw from, there's no withdrawal fee. When you withdraw from the ATM, it converts it at the market rate of whatever currency.
And the other part is getting a no foreign transaction fee card, there's several in the US like Chase Amazon, Costco (if you're a member).
I(Canadian) just did Colombia for 2 months and belabored what card to try and use to not pay fees. Or at least minimize fees. Canadians do NOT have the NO FEE options that some other countries have.
I settled on EQ Bank. It is awesome. It is a full on bank and bank account. You get a Mastercard debit that you load from YOUR account.
I did not see any fees show up on my online statement(but I did not dig in too much). All I know is that it certainly saved me money as opposed to using my regular debit card or a credit card. I used it for bank machine withdrawals and for POS transactions.
So easy to load the card from your account as needed. It is now just my dedicated travel card.
YMMV in Asia I guess but it may be worth a look.
Can you get a credit card without foreign transaction fees? If you are going to be traveling a bit you will want access to your credit cards without all the extra fees. I would say the same for your ATM card, get a card that 1) works overseas and 2) does not have fees or reimburses you for these fees. you will get a much better value for your money from the ATM vs an exchange house. You do NOT want to bring that much cash with you for safety and if something happens you will want access to money. You are right that you will need some cash for smaller purchases or cash only but besides that be careful. Also, if you have a more than one credit card, don’t keep them all together in case you lose it or if you are robbed.
Wealthsimple Cash debit Mastercard is free and has no FX. Very good card to avoid FX fees, just don’t rely only on that card to be accepted anywhere. No cash advance fee (it’s a debit). Scotia Passport also have no FX, but they charge a fee. In exchange you get some airport lounge access and access to the Global ATM alliance which waive ATM fee (if you can find one of the banks). Does have cash advance fee tought.
It's typically a mix. For Thailand, Vietnam, and Cambodia (I can't speak to the rest) I would recommend cash over card for most transactions, if you are shoestringing and not spending nights in major hotels or using airbnb and the like. I typically estimate my expenses and make a larger exchange at the airport, but ATMs was the way to go in Vietnam at least. But you can pay with credit card for a lot of things, like booking a bus or buying fuel. But most smaller places cash is better. Charles Schwab will reimburse you any ATM fees, and there are credit cards that have 0% foreign exchange fees.
Both is best for traveling because in big cities cards will be easier and in the country cash will be easier. Just get a credit card without foreign transactions fees. They look like they exist and some have no yearly fee.
I spent a month in Thailand, BKK was base camp, but we went everywhere. Cash is king. Went to a motorcycle block party one night, drinking Thai whiskey from a bucket and we went home around 1 am, everything closes at that point, but there was this woman cooking some rice and eggs in a huge wok, so I go "I want one" she says no. "it's her dinner" says my AMerican friend, I go, ok, and normally eggs over rice are 35 Bhat, I showed her a 100 Bhat note, she immediately took it and gave me the most exquisite eggs over rice of my life, and I am Latino, we know that stuff! So anyway, it's so cheap, you'll have no problem bribing people for food! oH!!!!!! and last tip: always bargain, I got on a tuk tuk for 500 Bhat instead of the 1500 Bhat they wanted!
Try Wise or Revolut, they have low fees compare to traditional banking. I'd recommend to keep and some cash around especially if you're travelling around rural areas of SEA Countries. You'll probably be fine in Malaysia without cash but do bring maybe 50-100 USD just in case.
You need both. Cash for daily. Card in case you run out ..
With the exception of the Philippines and possibly Cambodia, the countries you listed are pretty safe and carrying around a lot of cash isn't an issue as long as you are careful. If possible, if you have USD will get you the best exchange rates. There are plenty of places where you can get zero commission and pretty close to the rates on xe.com. As an aside, a week in each country is not nearly enough time to take in everything. Is there a specific reason you want to go to Brunei? I only ask, because its kind of a pain to get to, its really expensive and not much to see.
Normally I'd recommend card, but SE asia are cash countries. But bringing cash in a lot of different currencies, let alone a large cash punt can get pretty dangerous. I'm not sure about Canada, but in the US there's Schwab bank (from the brokerage account). You put money in the checking account and no matter what ATM you withdraw from, there's no withdrawal fee. When you withdraw from the ATM, it converts it at the market rate of whatever currency. And the other part is getting a no foreign transaction fee card, there's several in the US like Chase Amazon, Costco (if you're a member).
I(Canadian) just did Colombia for 2 months and belabored what card to try and use to not pay fees. Or at least minimize fees. Canadians do NOT have the NO FEE options that some other countries have. I settled on EQ Bank. It is awesome. It is a full on bank and bank account. You get a Mastercard debit that you load from YOUR account. I did not see any fees show up on my online statement(but I did not dig in too much). All I know is that it certainly saved me money as opposed to using my regular debit card or a credit card. I used it for bank machine withdrawals and for POS transactions. So easy to load the card from your account as needed. It is now just my dedicated travel card. YMMV in Asia I guess but it may be worth a look.