Cheap Travel Money Discussion Area

Edyian17

My 18 yr old daughter and a few friends are going to Rome in June after their exams. The Euro exchange rate looks incredible at the moment and so we are thinking about exchanging some pounds to Euro now....(significant amount) particularly as we may be going to Portugal later in the year so any Euros would not be wasted!.

I usually use no fee credit cards and specific no fee debit cards to get best exchange rates at the time but unsure if still able to get current exchange rate then (understand it's a gamble on rates). But if I get cash now to lock in this good rate, is there a good, cheap way of then putting the cash in some kind of Euro account whilst still in the UK which my daughter could use when in Rome.

We have used Caxton FX Currency Cards in the past but I believe the cash is saved in pounds sterling and then gets the Caxton exchange rate at the time of withdrawal (so risk rate will have dropped .....but still better than last time I visited Europe!!!).

I hope this makes sense.

NiftyDigits

Edyian17 wrote: »

My 18 yr old daughter and a few friends are going to Rome in June after their exams. The Euro exchange rate looks incredible at the moment and so we are thinking about exchanging some pounds to Euro now....(significant amount) particularly as we may be going to Portugal later in the year so any Euros would not be wasted!.

I usually use no fee credit cards and specific no fee debit cards to get best exchange rates at the time but unsure if still able to get current exchange rate then (understand it's a gamble on rates). But if I get cash now to lock in this good rate, is there a good, cheap way of then putting the cash in some kind of Euro account whilst still in the UK which my daughter could use when in Rome.

We have used Caxton FX Currency Cards in the past but I believe the cash is saved in pounds sterling and then gets the Caxton exchange rate at the time of withdrawal (so risk rate will have dropped .....but still better than last time I visited Europe!!!).

I hope this makes sense.

Ukash Travel Money Prepaid MasterCard
Otherwise, if you live in London, you can collect cash at the rate of 1.351€

Lee_Suds

Just been to my local Ramsdens did not book on line and got a slightly better rate!

I got 600 euro for £450.11 (75p per euro) 1.333 exchange rate

Like I said did not book just walked in and got:j

we also got a UKash card a few weeks ago for the same amount through this site but the rate was £6 dearer for the same amount but we did not want to wait and leave it to the last minute

NiftyDigits

Lee_Suds wrote: »

Just been to my local Ramsdens did not book on line and got a slightly better rate!

I got 600 euro for £450.11 (75p per euro) 1.333 exchange rate

Like I said did not book just walked in and got:j

we also got a UKash card a few weeks ago for the same amount through this site but the rate was £6 dearer for the same amount but we did not want to wait and leave it to the last minute

Using a Kalixa Pay Prepaid Mastercard on the 24th, you would have netted a rate of 1.36(71)€ to the £ for purchases.
Even if you took 400 to 410€ from an ATM abroad, you were still looking at 1.35(61)€ to the £.
So 1.33 is nothing about which to get excited. Welcome to the Seventies.....but it's the 21st century now.

Fizzymartini

Wonder if anyone can help me, 'cos I'm tying myself up in knots here.

I'm backpacking in S. America (Bolivia/Argentina) where credit cards are not accepted everywhere and you need to be particularly careful around ATMs. What's my best option? The guide suggests the Clarity credit card, but even that will hit you with interest (apparently I should not count on WiFi, which also rules out minimising the cost via internet banking). And I don't want to be travelling with a lot of cash. I've read quite enough reports of the high crime rate - especially in La Paz - to make that a definite no-go.

I already have an Aqua Card but that won't do me much good day-to-day due to the high fees on any cash withdrawals.

Anyone got any tips, or have done this before?

Oh for the old days when MetroCard and the past FlexAccount offered completely load-free and fee-free wihdrawals! Life was so simple back then

mat884

Quaint1 wrote: »

I question the statement (in the article - http://www.moneysavingexpert.com/travel/cheap-travel-money#debit) about having to change bank accounts to take advantage of the Metro Bank Debit card - you DON'T have to switch accounts. I opened an account at my local Metro last week - took 20 minutes, I didn't need to deposit any cash at the time, (I did subsequently deposit some cash from my £2 jar!) and, as long as you pass the credit check, which I did, you get the MasterCard Debit Card printed on the spot. I wasn't even asked about switching - I asked and was told I didn't have to.
If you do a lot of travelling to Europe (as I do, to certain countries and plan to do more of!) this is a saver - no fee for transactions OR cash withdrawals (other than local ATM charges)

Just wanted to say thank you! Initially reading the guide on the site I skipped the debit card section because didn't want to switch account and so was about to get a FairFx card but then saw your post and went to a Metro branch...card issued on the spot with pin, couldn't believe it :T

good_deed

I've been watchingMartin Lewis, Money Saving Expert which really helped me decide to take over a new credit card called Halifax Clarity, is the best to use abroad whit no fees and also never exchange money at the airport their rates are ridiculous . Hope this helps!

NiftyDigits

good_deed wrote: »

I've been watchingMartin Lewis, Money Saving Expert which really helped me decide to take over a new credit card called Halifax Clarity, is the best to use abroad whit no fees and also never exchange money at the airport their rates are ridiculous . Hope this helps!

If you order online in advance, you can get some decent rates at the airports. Good for those with no time to organise something better.

Paxton

Can any one tell me if there is a Travel card for 16 and 17 year olds. My daughter and friends are going on holiday and don't want they to carry cash is there a card they can use. Know most you have to be 18?

smudger1998

I have just come back from a month away in Australia, New Zealand and Thailand. I took Martin's advice and used my Halifax Clarity MasterCard. Unfortunately most retailers charged between 2% and 5% and the ATMs in Bangkok all charged around 180B (£3.60) to make the withdrawal.


I'm sorry Martin and those at MSE but I could not seem let down by this advice every time they mentioned the charge.


Has anyone else had this experience, or is it only me? Can someone from MSE get back to me on this or at least put a warning on the webpages so others do not fall into this trap?