Cheap Travel Money Discussion Area

klint

I was previously under the impression that it was very expensive to withdraw cash at an ATM abroad using a credit card. I was surprised to be informed by Barclaycard that all it costs is the 3% exchange-rate loading. And you get 56 days interest free on cash withdrawals! A pity this doesn't happen when you withdraw in the UK. Here's the reply I received from Barclaycard when I wrote to them to tell them I was going on holiday:

"May I explain that similar to purchases, you will receive up to 56 grace days interest free on all cash withdrawals made abroad (if the statement balance is not paid in full as per standard payment rules, cash will be charged at the customer's cash rate following the grace period).

"Cash handling fee ? The cash handling fee (now called a cash transaction fee) will not be charged for cash withdrawals made abroad for all products."

TakeThis

klint wrote: »

I was previously under the impression that it was very expensive to withdraw cash at an ATM abroad using a credit card. I was surprised to be informed by Barclaycard that all it costs is the 3% exchange-rate loading. And you get 56 days interest free on cash withdrawals! A pity this doesn't happen when you withdraw in the UK. Here's the reply I received from Barclaycard when I wrote to them to tell them I was going on holiday:

"May I explain that similar to purchases, you will receive up to 56 grace days interest free on all cash withdrawals made abroad (if the statement balance is not paid in full as per standard payment rules, cash will be charged at the customer's cash rate following the grace period).

"Cash handling fee ? The cash handling fee (now called a cash transaction fee) will not be charged for cash withdrawals made abroad for all products."

Borne out here

I wonder if it is just for new applications or for current card holders.

klint

TakeThis wrote: »

I wonder if it is just for new applications or for current card holders.

Well I've had my card for a few years, so not just for new applications unless their adviser got it wrong.

TakeThis

klint wrote: »

Well I've had my card for a few years, so not just for new applications unless their adviser got it wrong.

Useful in an emergency I suppose.

Karenlj

Am I too late??
Have just discovered that it would be beneficial to have an overseas card rather than my Marks and Spencer credit card. I'm flying to Canada on 25th July! Do I have any options??

TakeThis

Karenlj wrote: »

Am I too late??
Have just discovered that it would be beneficial to have an overseas card rather than my Marks and Spencer credit card. I'm flying to Canada on 25th July! Do I have any options??

Cash Passport Globe. Order via that link and pick it up at the airport or a Travelex shop if near you.

Order via TopCashBack > Travelex > Globe Card to get 0.5% cashback from your initial load.

M&S is no good. 2.99% ATM withdrawal charge plus 2.99% forex charge.

CPG has only a blanket 1.49% charge.

WelshSun

The Travelex Cash Passport Globe.

You can pick it up at most airports with just 4 hours notice.

Using the Cash Passport Globe card over your M&S card will save you 75%. A massive saving!

debzie8

Hi, I'm currently living in Hong Kong and I'm going back to UK for holiday soon, I was wondering if it was best to change money (hkd to gbp) in Hong Kong or whilst I'm in UK?

The_Old_Bag

Hi,
Nephew is going to China, in 2 weeks.
He has a Santander Debit Card - but I gather they are one of the worse cards to use abroad for getting cash out.
Too late to get a credit card in his own right, and he cannot be added as a card holder on his parents cc.

Staff in Santander suggested Travellers cheques.
I thought these were obsolete these days ??
Certainly 15-20 years ago when I last used them, they worked out expensive as the UK banks charged to produce them, plus the foreign banks charged to cash them..... plus often got a worse exchange rate as well.

His parents don't really want him taking all his money as cash, for obvious reasons.
He will be using a card for cash withdrawals mainly.

Any suggestions ?

Thanks

p.s I took a quick look at the Travelex Cash Passport Globe mentioned above - but would this be suitable for China?
Plus, it says while they do not charge for cash withdrawals, the ATM Operators might.
Will this be the same for using any card to make a cash withdrawal - i.e. He could get charged by Santander for example, AND by the ATM operator ?

NiftyDigits

The_Old_Bag wrote: »

Hi,
Nephew is going to China, in 2 weeks.
He has a Santander Debit Card - but I gather they are one of the worse cards to use abroad for getting cash out.
Too late to get a credit card in his own right, and he cannot be added as a card holder on his parents cc.

Staff in Santander suggested Travellers cheques.
I thought these were obsolete these days ??
Certainly 15-20 years ago when I last used them, they worked out expensive as the UK banks charged to produce them, plus the foreign banks charged to cash them..... plus often got a worse exchange rate as well.

His parents don't really want him taking all his money as cash, for obvious reasons.
He will be using a card for cash withdrawals mainly.

Any suggestions ?

Thanks

p.s I took a quick look at the Travelex Cash Passport Globe mentioned above - but would this be suitable for China?
Plus, it says while they do not charge for cash withdrawals, the ATM Operators might.
Will this be the same for using any card to make a cash withdrawal - i.e. He could get charged by Santander for example, AND by the ATM operator ?

That's why it's called the GLOBE card.

Yes, it's the same for all cards. Don't forget that if he is less than eighteen years old, they will have to order and pick the card up themselves(or have it delivered) and then hand it over to him.
They can order a free extra card if they wish. There is no name on the card.