Travel Money Maximiser Discussion Area

Former_MSE_Dan · 26 June 2007 at 12:59PM

This is the discussion area for the new free web tool:

Please click reply to discuss.

zarjaz_2 · 27 June 2007 at 6:02AM

The travel money checker is a great idea! Thanks.

One question I have, though, is whether I will get charged a "cash advance" fee by my bank for buying online? I intend to use my Abbey current account (VISA Delta) card, but not sure if the transaction goes through as a debit card transaction (no charge) or a VISA credit card cash advance (chargeable!). Anyone know?

My other question is whether, rather than get foreign currency in advance, I'd get a better rate using my card to withdraw cash at my destination - I use a Nationwide current account for withdrawing cash when away (no charges!), but never sure if their rate is better than the rate from the likes of Travelex, etc.

Gary

siestapete · 27 June 2007 at 9:59AM

What a brilliant online service - As a frequent traveller to Spain it's always difficult to know where to get the best exchange rates but this solves that problem. I will certainly recommend it to my friends using our Spanish holiday home and others I help with buying Spanish property, who also need frequent currency in Euros. Obviously the Travel Money Maximiser doesn't deal with the larger exchanges needed for buying property abroad, but it's great for those little inspection trips & holidays abroad. Thanks!

richardbeatson · 27 June 2007 at 12:44PM

Are rates available for changing money back to GBP on return?

Estimator1 · 27 June 2007 at 1:05PM

2 weeks before this link was shown, I trawled through all the various websites to get the best US Dollar rate (it was with Saga at the time) - however this good rate was effectively lost, when my bank (Lloyds TSB) charged me £4.50 for the priviledge of spending my own money (It came straight out of my current account, as I paid on my debit card). I intend to take this matter up with them!

davescouse · 27 June 2007 at 2:52PM

Another website worth trying is crowncurrencyexchange.com, i have used them on numerous occasions & the rates are very good and so is the delivery. If you have booked to go away on holiday well in advance, the rate are even better.:T

Vistrix · 27 June 2007 at 3:46PM

Incredible. Im going to Iceland in December (so expensive...) so I did a quick search for £1000 of spending money and it seems M&S do a much better deal.

I would have an extra £33 worth of Icelandic Krona from M&S compared to the post office!

Will definitely use this tool when I exchange my currency.

Thanks.

catokelly · 27 June 2007 at 4:29PM

Abbey charge 1.5% for currency puchases on a Visa Debit card, they claim it is Visa who make this charge. Lloyds and Barclays also charge, but only a maximum of £4.50. Nationwide and Halifax do not charge for currency when you use their Visa Debit cards. If you pay by Switch or Maestro or by BACS there is also not charge.

Nationwide do not charge for cash withdrawals abroad, however the hosting bank abroad may make a charge so beware!

btr30 · 27 June 2007 at 4:50PM

Also worth checking www.no1currency.com. I got a better rate (1.936 USD/£, no commission) than travelex on line (1.9253 USD/£), and a convenient high street collection (cash generators) as opposed to an airport pick up.

MarkyMarkD · 27 June 2007 at 8:10PM

The point already made about debit/credit card charges makes the tool very severely flawed.

Travelex, for example, are one of the best value providers. But unless you pay by Switch card, you are going to get charged a Visa/Mastercard cash advance fee - even if you are using a Visa Debit card.

You can't pay Travelex by any means other than a card, if you order online - you can't use cash over the counter.

The tool needs to be updated to include a "how will you pay for your currency" option, as this severely affects what price you actually pay for your money.

slowen · 30 June 2007 at 10:40PM

Great search tool

I was out shopping today and ended up getting my USA Dollars from a shop called the "cheque centre" and got a rate of 1.947 to the £ which was the best rate that any shops had. I changed over £300 and got $585

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