Originally Posted by
Interpol
Hi all, my 17 year old son (a high school senior) will be going on a 3 week trip to Korea and Japan this summer with a friend (also a minor) and an adult guardian.
He will be carrying 2 credit cards (Chase Sapphire Preferred and Amex Gold) as an authorized user on my CSR and Amex Plat accounts, but I suspect he will also need to use cash at many locations in Asia. What would be the best way for him to do withdraw local currency at an ATM? Should I open a checking account for him with a bank that does not charge foreign ATM fees or is there a better way to do it?
I'd open up a separate chequing account. Both VISA and Mastercard have networks that you can access in both countries. That said, you could also do a cash advance against the credit cards, however if you do that, I would recommend they immediately call you so you can pay off the cash advance (interest starts immediately unless something has changed in the last few years).
I would also get them $100 in the local currency to carry on them before they arrive. Although there often are bank machines within the airport, they might not be able to locate them to grab some cash initially.
I keep a small kit at home with my leftover currencies so I don't have to withdraw as much for the initial landing.