Money Transfer Options to South Africa (Cape Town)
Hello all! I am coming to back Cape Town in February after spending six months there previously during a study abroad internship. During my time there, I was required to continuously draw money from the ATM, incurring fees from both my American bank and the cash machine. This would be upwards of about 10 US dollars per transaction! I also did not like to carry much cash on me at one time, so drawing Protected content Protected content at one time would also contribute to fees.
I am writing to ask if there is an easier and less expensive way to bring money from an American bank account to SA, such as signing up for a bank account or using traveler's checks. It was suggested to me to get a reload-able credit card that can be used, but most I have also been advised against it, as the fees are also the same. Would it be possible to get an ABSA or Barclays bank account as an American?
I am not very knowledgeable on the subject.. Any feedback would be helpful!
Thank you in advance,