Cheap Travel Money Discussion Area

yowza

I am currently living in Budapest. (Yes it is very nice, thank you.) I have both sterling and forint bank accounts at local bank here, but currently I need to take regular cash from my UK bank account (Santander - no branches here) via debit card cashpoint.

Cashpoints give the option of deducting from my UK account the sterling equivalent of the forints I withdraw, or deducting the amount as forints.

Santander help pages recommend opting for local currency payments when abroad. But what is the best choice, for minimum charges, when withdrawing cash? Advice appreciated.

callum9999

yowza wrote: »

I am currently living in Budapest. (Yes it is very nice, thank you.) I have both sterling and forint bank accounts at local bank here, but currently I need to take regular cash from my UK bank account (Santander - no branches here) via debit card cashpoint.

Cashpoints give the option of deducting from my UK account the sterling equivalent of the forints I withdraw, or deducting the amount as forints.

Santander help pages recommend opting for local currency payments when abroad. But what is the best choice, for minimum charges, when withdrawing cash? Advice appreciated.

Look what markup Santander apply to currency conversions then look what markup the ATM uses (everyone I've seen has always told me the %). Use whichever one is lower.

That would probably be Santander (so you'd withdraw in Forints) but it purely depends on the ATM. I've come across several in Spain that don't add any charges on.

cmclean10

Hi guys, new to this site so not sure if this is the right forum.

I recently took out a Post Office Travel Card in Euros to take away on holiday. On return, I realised that I had over €200 remaining on the card. I contacted the Post Office customer service and was informed that I could redeem the money at 69p to the €1. A ridiculous quote - nearly 10p less than what I expect. I refused this offer and decided to go into the branch. My theory was that I could just lift the €200 from my account in the branch but was informed that I could not do this, I had to use an ATM. Obviously using a GBP ATM I would be charged a fortune so I enquired would the Euro ATMs charge me? Apparently they do.

So my only option, in my eyes, to get a fair rate is to travel abroad again and obtain the euros from a cash machine there. Has anyone else experienced this? Is there any logical and fair way to get this money back? I feel like the Post Office have a hold of my money and are not letting go without excessive charges. I thought this was meant to be a debit card!

Thanks guys,
Chris

John_Pierpoint

Use it to buy cigarettes in this town, and you might even show a profit to put towards a lung transplant.

http://en.wikipedia.org/wiki/Adinkerke

Seriously with the Euro now returning towards the 75p value at which it was launched, the booze cruisers will be back on the low cost ferries in the run up to Xmas.

Or sell it to a friend with a similar idea?

Does it require anything more than a pin number to make it work?

C_Mababejive

NiftyDigits wrote: »

Cash Passport Globe

Anything less and you'll need your head tested.

I currently have a Nationwide select card...surely that is a better option?

The only other issue then is...as well as my CC,do i carry cash (in local currency) or do i use a prepaid card for security and if so,what?

NiftyDigits

C_Mababejive wrote: »

I currently have a Nationwide select card...surely that is a better option?

The only other issue then is...as well as my CC,do i carry cash (in local currency) or do i use a prepaid card for security and if so,what?

You surely should not be quoting the answers to another's question in your unrelated post.

The original statement was in reply to...

After struggling to cash travellers' cheques in Turkey this year, I am getting an orange pre paid cash card.

So if the OP wanted a PrePaid card, (not everyone wishes to apply for a CC or to open a new bank account just for holiday money) the Globe prepaid card is a much better option than the Orange prepaid card and often the best overall option, alongside Kalixa.

Nothing wrong with having the Globe card as back up, if you don't have access to Metro Bank or N&P. Usually better value than carrying the local currency.

ggeorgiou

Hi

I was talked into a Travel Money Card by my local branch of First Choice. Good exchange rate and charge free if use chip and pin.

Almost seems to good to be true!!

Asked how I could top up and told in branch or online by debit card if abroad - flexible as well!!

I am writing to warn anyone who gets sucked into this to ensure you load it with sufficient funds before you leave the UK. It transpires that online top-ups take 48 hours, despite the fact that my current account is debited immediately.

I appreciate security checks etc but being they do this manually, there is absolutely no reason why it should take 48 hours other than they can sit on your money and earn interest before loading your card.

Same if your card is lost, stolen or faulty. You are safe in that they can block the card and replace your card/money - in 48 hours. If you have lost, broken or had your card stolen, 48 hours is a long time to be without money whilst in another country.

Furthermore Customer Service insist on the 48 hour rule even in replying to an email.

Whilst I think the card is good in an ideal world, please have a backup and don't rely on it for anything out of the ordinary.
If we had access to alternative funds, wouldn't use the card in the first place!!

NiftyDigits

ggeorgiou wrote: »

Hi

I was talked into a Travel Money Card by my local branch of First Choice. Good exchange rate and charge free if use chip and pin.

Almost seems to good to be true!!

Asked how I could top up and told in branch or online by debit card if abroad - flexible as well!!

I am writing to warn anyone who gets sucked into this to ensure you load it with sufficient funds before you leave the UK. It transpires that online top-ups take 48 hours, despite the fact that my current account is debited immediately.

I appreciate security checks etc but being they do this manually, there is absolutely no reason why it should take 48 hours other than they can sit on your money and earn interest before loading your card.

Same if your card is lost, stolen or faulty. You are safe in that they can block the card and replace your card/money - in 48 hours. If you have lost, broken or had your card stolen, 48 hours is a long time to be without money whilst in another country.

Furthermore Customer Service insist on the 48 hour rule even in replying to an email.

Whilst I think the card is good in an ideal world, please have a backup and don't rely on it for anything out of the ordinary.
If we had access to alternative funds, wouldn't use the card in the first place!!

You were suckered, full stop.

Good exchange rate and free use indeed.

http://www.firstchoice.co.uk/information/holiday-extras/before-you-go/foreign-exchange/travel-money-card/

imaginaryvanity

Hi im looking for some advice. Im going to Italy in a few weeks time and I want to take a pre-paid card and euro's with me. My plan is it withdraw money from an ATM as I need it instead of spending in restaurants and shops. I liked the look of the Cash Passport because of its free ATM withdraws but ive read some pretty bad reviews on them, most of the reviews seem to be because of the exchange rate once yet get back to England. Im not to worried about money being left on whatever card I get because in November im going to Paris for a few days so any remaining money will be spent there and again i'd try to withdraw from ATM's so that I can withdraw in a lump sum before I come back to Engalnd in order to get a better exchange rate back to £.

So bearing ^ that in mind would anyone recommend I go for the cash passport? Or would others recommend another pre paid card. Ive already decided not to go down the CC route.

Cheers!

NiftyDigits

imaginaryvanity wrote: »

Hi im looking for some advice...

clicky link>>>>Cash Passport Globe<<<<clicky link

You need to learn the difference. It's plastered all over the board.

Worlds away from the common or garden Cash Passport currency cards.