Cheap Travel Money Discussion Area

Kernow666

alan_p_brown wrote: »

Used to have the same problem with collecting cash from Travelex (or now MoneyCorp) at the airport (pre-ordered needless to say).
But I am pretty sure that Barclays have now dropped the surcharge for buying foreign currency in the UK on their debit card. Not sure if any other banks have as well?

no banks charge now for buying currency on a debit card only selected credit cards , i know if you use a sainsburys CC to buy currency in sainsburys there is no charge

chris_aaaaa

Not out of the goodness of their hearts
http://www.dailymail.co.uk/travel/article-2076463/OFT-orders-banks-scrap-debit-card-charges-buying-foreign-currency.html

zagfles

chris_aaaaa wrote: »

Not out of the goodness of their hearts
http://www.dailymail.co.uk/travel/article-2076463/OFT-orders-banks-scrap-debit-card-charges-buying-foreign-currency.html

By the looks of that they've banned the "commission free" con when selling currency as well, about time too.

geoff_ss

Wonder if MoneysavingExpert might research & confirm this & ask booking companies why they apparently choose almost unattainable exchange rates when they display Euro hotels in £s. Their prices are shown in pounds (by default), but you actually pay the bills in euros, seemingly at a worse rate.

Today, Hotels.com seem to display at 1.213 €s to a £; & Bookings.com 1.208; compared with an average internet cash rate of abt.1.165 & a great buy card (Post Office) 1.175.

However the two companies are not using the same conversion rate, so bizarrely a £201 booking with one may end up cheaper than a £200 booking with the other. I wonder if MoneySavingExpert researchers have done a comparison of all the hotel booking brands in a comparison site like Trivango.com to see if price comparisons between hotels are made on a level playing field regarding the currency conversion rates each company decides to display? (or possibly Trivango uses its own common conversion rate?)

zagfles

geoff_ss wrote: »

Wonder if MoneysavingExpert might research & confirm this & ask booking companies why they apparently choose almost unattainable exchange rates when they display Euro hotels in £s. Their prices are shown in pounds (by default), but you actually pay the bills in euros, seemingly at a worse rate.

Today, Hotels.com seem to display at 1.213 €s to a £; & Bookings.com 1.208; compared with an average internet cash rate of abt.1.165 & a great buy card (Post Office) 1.175.

However the two companies are not using the same conversion rate, so bizarrely a £201 booking with one may end up cheaper than a £200 booking with the other. I wonder if MoneySavingExpert researchers have done a comparison of all the hotel booking brands in a comparison site like Trivango.com to see if price comparisons between hotels are made on a level playing field regarding the currency conversion rates each company decides to display? (or possibly Trivango uses its own common conversion rate?)

They probably use interbank rates. I've always found booking.com exchange rates pretty accurate, your problem is you're comparing to cash rates or to what you think is a "great buy card" but isn't.

The Mastercard rate is currently 1.20709 and that's what I'd get using my Halifax Clarity or any other Mastercard which doesn't markup the exchange rate. You need to get a decent card, then the booking.com rates will be more accurate.

smk77

Kernow666 wrote: »

no banks charge now for buying currency on a debit card only selected credit cards , i know if you use a sainsburys CC to buy currency in sainsburys there is no charge

I've been looking at currency from Asda as their rates are good for Canadian dollars. When ordering there is a note saying:

All Cards (excluding Asda Money Credit Card) - Please note that, regardless of your debit or credit card type, your card provider may apply fees related to currency transactions (e.g. a cash advance or cash handling fee) so please check with them before you buy in store, online or over the phone. Any additional charge will not appear on your order total but will appear on your card statement. The total sum payable by you to us will be shown in your order summary.

This suggests that those card providers who charge fees may charge. I'm with HSBC and they do charge fees when withdrawing cash abroad.

I've got a Clarity card on the way. Perhaps I should just order currency with that? Except, as it's a purchase on a credit card, a fee may be applied! I want to take some cash with me and the rate for the CAD is good. I don't want to see it drop before I go in June so would like to 'bank' that rate.

Miss_Wetwipe

Post Office Travel Money has special rates on Euros from 8am Wednesday 12 March until 8am Thursday 13 March.

NiftyDigits

Miss_Wetwipe wrote: »

Post Office Travel Money has special rates on Euros from 8am Wednesday 12 March until 8am Thursday 13 March.

1.1741 EUR to the £ is a "special rate"?

lisaomalley

Hi - I am going to Australia for 2 weeks - I have followed the advice on the guide and applied for a Halifax credit card, but I'm not sure what to do about cash? I have a Natwest and Nationwide flex account debit card, neither of which are recommended to use, and I'm not sure a prepaid card is the best option as I'm only there for two weeks? Whats the best option...?

Kernow666

depends on how much you want to take , its safer carrying a prepaid card around so say if you was taking £500 take 2/3 on a card and rest in notes so at least you got some walking around money when you land