Cheap Travel Money Discussion Area

dlawrock

bluefrog wrote: »

Hello, I don't use a credit card much at all, so have got a bit caught out.
We recently went to spain on a family holiday. We reseaeched MSE to see what was the cheapest way of buying Euos. It seemed that Travelex was the best rate and cheapest. We ordere and picked up the euros at the Airport.
I was surprised to discover on returning and getting my credit card bill that we had acash advance fee of £30, which was 2.5p.c. of amount, plus we had been chrged a month's interest on this transaction of £9.99.
Co-op bank have reimbsed me the interest after i complained but said they could not do anything about the other charge and take it up with Travelex. Looking at their website it does say credit card users may be subject to a cash advance fee from their card issuer. This was not clear to us when we purchased the currency.
Is there any way we can be reimbused this charge?

I've just cancelled a Travelex paid for by Mastercard. Got to admit, I didn't read the small print, I just trusted the MSE site would flag up any hidden charges, which it didn't, so I'm quite surprised that you got so badly stung. If the major credit cards charge cash advance fees for advance Travelex cash orders for collection from the airport, MSE should NOT be recommending them at all!

Also to echo Abb0 's point - I just phoned Abbey Zero "helpline" and got no help at all about whether you can overpay the card, and thereby avoid the cash advance interest charges. (Surely the advance would be automatically be funded by the extra funds in the account, therefore immediately paid off, therefore no interest???) The guy on the phone just kept repeating "you will pay interest until the balance is paid off in full" like a mantra, and never explained why this wouldn't happen if you had already overpaid onto the card. I too will experiment while I'm away in September and report back...
Cheers,
Dave

benjus

dlawrock wrote: »

If the major credit cards charge cash advance fees for advance Travelex cash orders for collection from the airport, MSE should NOT be recommending them at all!

Almost all credit cards charge cash advance fees, and any use of a credit card to obtain cash or a cash equivalent like Travellers' Cheques (whether using an ATM or by another means) will attract a cash advance charge. It's nothing to do with TravelEx specifically. Some debit cards also charge when used to obtain foreign currency.

The Travel Money Maximiser does contain a warning about these charges, although perhaps it isn't as obvious as it could be.

Foggy

benjus wrote: »

Almost all credit cards charge cash advance fees, and any use of a credit card to obtain cash or a cash equivalent like Travellers' Cheques (whether using an ATM or by another means) will attract a cash advance charge. It's nothing to do with TravelEx specifically. Some debit cards also charge when used to obtain foreign currency.

The Travel Money Maximiser does contain a warning about these charges, although perhaps it isn't as obvious as it could be.

I have spent quite a while researching this. I was tempted to buy my euros from Travelex using my First Direct maestro card as it is specifically listed as not carrying a charge (on that slightly obscure link on the money maximiser section). However I cannot find where it clarifies this on the First Direct site.

I have an Abbey Zero card and consequently don't need much cash so may as well hand over cash at the Post Office for my Euros.

It would be interesting to have it clarified though.

Thewebsurferman

Whilst staying in Germany recently our Nationwide Visa Debit card was declined twice - by Lidl and the hotel we were staying in. We were told that they only accepted Maestro cards. Somewhat embarrassing at Lidl but a real problem at the hotel when we had a 1,200 Euro bill to pay and no means of paying it. In the end they agreed we could send the money by bank transfer (which is expensive) and a decidedly unsettling end to our trip.
Moral - check before traveling how your hotel bill can be paid. It would seem that VISA credit and debit cards are not so universally accepted elsewhere as they are in the UK.

switch007

Thewebsurferman wrote: »

Whilst staying in Germany recently our Nationwide Visa Debit card was declined twice - by Lidl and the hotel we were staying in. We were told that they only accepted Maestro cards. Somewhat embarrassing at Lidl but a real problem at the hotel when we had a 1,200 Euro bill to pay and no means of paying it. In the end they agreed we could send the money by bank transfer (which is expensive) and a decidedly unsettling end to our trip.
Moral - check before traveling how your hotel bill can be paid. It would seem that VISA credit and debit cards are not so universally accepted elsewhere as they are in the UK.

Not so useful for a 1200 euro bill, but a cash machine can come in handy if your VISA is not accepted in an establishment.

Gemmzie

Hooray I got my PO card today, just in time, go on Friday! Now just have to get some Euros in cash

will-he-payitoff

Can any one tell me how much better off in pound notes I would be by using a nationwide/po card than just changing £700 at M&S. Are we talking serious money or just a couple of quid

dzug1 wrote: »

I'm guessing a little bit but maybe you'd get something like an extra 40€ that way on that sort of sum

So I would save 40 euros if I managed to pay for everything over the week by card, has anyone done this? cannot imagine paying for icecreams, snacks, beers, bus and taxi fares by card

Cordy

We're going in October, and have booked accommodation direct. They want the deposit sent either to a bank in Spain, or by Western Union. Does anyone know the cheapest way to do this please?

switch007

Cordy wrote: »

We're going in October, and have booked accommodation direct. They want the deposit sent either to a bank in Spain, or by Western Union. Does anyone know the cheapest way to do this please?

I think banks charge around 10-20 pounds for sending to a european bank account. West Union might be slightly cheaper/same depending on how much you're sending. You can get a quote from their website.

guysdad

Are there any real differences between CaxtonFX and FairFX cards?
We used a Euro CaxtonFX card this summer in Europe after reading the MSE. It was accepted without problem everywhere we used it. Having come back, I see there is now the FairFX card. But both are issued by the same people (Newcastle Building Society). Looking at Euro exchange rates today there is half a Euro cent difference between them both in FairFX's favour. Now that we've got the Caxton card, is there any advantage in changing? Still got some money on it from the summer which we intend using on ski holiday.