Cheap Travel Money Discussion Area

gladysgibb

According to the article, the Santander Zero credit card is nil to use at ATM's abroad and for spending abroad. However it says 27% interest will be charged even if the amount owing is paid in full. Does this mean that even if I pay it off within two weeks I will get a whopping bill for 27%?
Joan

dzug1

gladysgibb wrote: »

According to the article, the Santander Zero credit card is nil to use at ATM's abroad and for spending abroad. However it says 27% interest will be charged even if the amount owing is paid in full. Does this mean that even if I pay it off within two weeks I will get a whopping bill for 27%?
Joan

Sigh

27% is an ANNUAL rate. Over 2 weeks that works out to very roughly 1%

coolasacucumber

I have been trying to find a good solution for a few months now, but as yet haven't found what seems to be the best idea, it would be super if anyone could offer some advice...

My wife & I are going to Africa in October for anything from 12-24 months, to travel & do voluntary work. Are plan is to spend most of the time in Kenya.

We will mainly be needing to withdraw cash for our monthly expenditure, but making card payments too, supermarkets, hotels etc.

I have a firstdirect current account & my wife is with Nationwide.

We have a variety of credit cards, none with free w/wide cash withdrawals or competitive rates.

From what I can see so far, maybe the Halifax clarity route may be best, or N & P Gold lite a/c.

We will be taking out cash on a regular basis with not wanting to keep lots on us as we'll be in some rather dangerous areas at times. But we will have reasonable access to the internet at all times.

Any advice would be most gratefully appreciated.

Thank you.

damianiw

Sorry for the pun

A lot's changed in the last year, we're nationwide & natwest customers.

I've just called them and confirmed as we have an 'old' classic credit card it's still free in Europe for purchases even After July.

We usually use that as much as possible, take euros but not too many and withdraw any extra from an ATM as the nationwide flex account didn't use to charge - alas I'm told it's now £1 per transaction + 2%

So we need a new plan, we're off to Rhodes and I know people had nightmare with pre-paid cards so wondering should we take loads of euros and change what we dont use back or is there an alternate current account that's free or would £1 + 2% be better if withdrawing at least 100 as it would be £3 but at the visa rate.

Head is hurting - Nationwide certainly don't offer as much being a building society as they used to in our opinion

Sophie4120

Hi all,

I have read the MSE articles on travel money but I am still mightily confused

I want £100 of russian rubles - originally I was planning on getting cash via Travelex collection (the best rate shown via the travel money maximiser) - however, it doesn't seem to have a collection point in Manchester airport?! Argh.

I then considered their free cash passport globe card - I know they charge 1.49% for every transaction, but for the full spend/withdrawal of the card that will only total ~£1.50... right? It is likely I will be spending most of my money in cash, so cards which charge silly amounts for ATM withdrawals are a big no for me!

But equally, with the cash passport, they will be giving me their own exchange rate anyway? So it actually makes it more expensive than cash?

So, yeh, confused! Would be grateful for any thoughts

meher

Even I need some Russian rubles in the next couple of months. From lots and lots of travelling experience what I've learnt is it's best to use fee free cards like satander zero/clarity or nationwide because each and every travel money bureau exchange rate is pitiful and their rates are deceptive even if they say that it is fee free or run flash sales. I wish it is not propagated in this site without giving us the details of these deceptive offers. For instance travelex has some silly flash sales offer you $157 for $100 whereas nationwide visa would pay your $100 purchase with an exchange rate of £1.62, fee free. Even American express cards offer you a better rate despite their commision of about £1.96 or so, at least there are no delivery charges that travelex passports add on to their thieving rates - at least amex is transparent and honest unlike travelex kind of shady companies. I pay commission on everything just for the transparency and honesty factor. Also most of the countries you visit offer you far better rates than you'd get here in the UK. So I intend to pay as much as possible by card and then just take about £50 worth of rubles and get the rest of the travel money, if needed, when I get to the destination. Don't buy into this commission free travel money and related flash sales nonsense, whilst they don't take commission from you, they thieve you and offer you horrendous rates. I take huge issue with deceptive trading and business and even more so with promoting it without giving complete details to the trusting consumer.

stilltheone

meher wrote: »

Even I ........

Nationwide isn't a fee free card.

Your post is outdated.

Travelex Cash Passport Globe is certainly better value than Nationwide's offerings.

meher

stilltheone wrote: »

Nationwide isn't a fee free card.

Your post is outdated.

Travelex Cash Passport Globe is certainly better value than Nationwide's offerings.

It isn't my post, you probably need to inform yourself. It is fee free if you've earned credit that clocks up each time you use the card at home. Better value at £0.57 for one US dollar and 1.49% or 99p charge for each transaction? No, thanks to that even for a free card. I shall stick with my fee free cards that offer me £0.62 for each dollar and no transaction fees.

stilltheone

meher wrote: »

It isn't my post, you probably need to inform yourself. It is fee free if you've earned credit that clocks up each time you use the card at home. Better value at £0.57 for one US dollar and 1.49% or 99p charge for each transaction? No, thanks to that even for a free card. I shall stick with my fee free cards that offer me £0.62 for each dollar and no transaction fees.

What are you talking? Of course it was your post...I just cut out most of the ranting.

This from the Nationwide website:

Low commission charge - for purchases abroad over and above your allowance, you'll be glad to know that at 2% the commission we charge is lower than many other cards.

To actually gain a commission free allowance you have to spend on the CC, at a ratio of 5:1. Spend £2500 to get a £500 commission free foreign spending allowance.

But of course, this does not cover ATM withdrawals. If you take a cash advance: 2.5% handling fee, minimum £3.00

That is more expensive than the Prepaid card, isn't. Are suggesting that people only make purchases when abroad??

Don't embarrass yourself. The Travelex Cash Passport Globe uses the unadulterated Mastercard rate. You can check it here: MasterCard's Currency Conversion Tool. So your figures are just...wrong.

Nationwide refers to the Visa Europe fx calculator.

meher

Ignoring your retorts and put downs for a mo, I see that you're hung up on nationwide when that was just one of the three other cards that I highlighted. If you cannot clock up credit with nationwide too bad, it doesn't cease to be an option though.

I appreciate that I overlooked atm withdrawls. That's because I speak from my experience and I don't normally take cash out of ATM and would rather collect travel money from the local money exchange bureaus. I always take lots of money with me to convert.

This global card that you're promoting has already fleeced you and offered you a bad rate, that you seem to have overlooked. Why would I want to buy a card with a very bad exchange rate when my fee free mastercards and visas offer me an excellent exchange rate and when there's no added charges for the purchases? Travelex prepaid card has not only offered a bad rate when you paid the pound, it also charges you for EACH purchase. My clarity, santader zero and nationwide gives me the day's rate based on the calculators that you've posted and without any charges for purchase that travelex charges.

stilltheone wrote: »

Are suggesting that people only make purchases when abroad??

Sorry I don't understand your point. Where have I suggested that.

I think you're talking about an ordinary travelex prepaid card. This thread is about travel money and my posts have been about travel money and prepaid travel cards and making a comparison with the conventional fee credit cards.

Still the prepaid card charges you each time you make a purchase as I pointed out in my earlier post which other fee free credit cards don't.

BTW I shall not be dignifying your posts anymore with a response if you resort to retorts. Stick to topic and I'm happy to correct or clarify my stance.