Cheap Travel Money Discussion Area

murphydavid

slorimer wrote: »

Hi all I just opened an M&S current account, and the fine print says that there are no fees at all for withdrawing non-sterling cash from a cashpoint, no direct debits needed, no regular funding needed, no monthly fee :T

Not so good for purchases or withdrawing cash from a money-changer - 2.75% fee, no minimum fee though.

This should be on the travel money list - easier to manage than N&P which has a £500/month funding requirement.

Opening is a bit of a faff and takes about three weeks from online application to debit card in your hand. There is no automatic email saying that your application was received, I had to call to ask what the delay was 2 days later - they lost my income details somehow which stopped processing, then an email came a week after with approval, then a week after that two papers forms came in the post to sign, and then a week after that a debit card and internet banking details arrive in the post.

cashpoint=ATM (I presume) but what is a money-changer?
Also what exchange rate do they use?

slorimer

Yes, ATM. They say that the Visa Payment Scheme Rate is the one that is used.

From what I can see, all payments with the card are charged 2.75%, this includes buying foreign currency at the post office, etc. But the wording is very confusing. Can an MSE expert go their website an parse their price list? Transaction fee? Cash fee??? Doubting myself now...

murphydavid wrote: »

cashpoint=ATM (I presume) but what is a money-changer?
Also what exchange rate do they use?

Friesian_Coo

Recently the best rate I could obtain to buy Euros was from Debenhams. The rate was apparently enhanced by my ‘membership’ of Money Saving Expert.

What I was not told is that there is a 2% charge for using my Visa Debit card to pay. This has never happened in my numerous similar transactions using M&S. My bank tells me the reason is that Debenhams use a foreign company for their Bureaux de Change.

I must say I feel badly misled by MS, unless I have missed something in their caveats section

Susan1942

There seems to be a lot of information but I am confused by it all
I have gone to Australia several times As I am staying with Family my holidays have ranged from 4 - 9 weeks
Previously I have taken a fair amount of Australian $ with me but then will withdraw $ from my Santander Account from an ATM whilst I am there I use a Post Office card to pay for large purchases and also for taking when I have had a substantial bills say in a restaurant I am not sure if this is the best way to spend I understand that people can load money on to a cash card and withdraw this as and when I need it Is it worth my while trying to do this ? Advice would be appreciated many thanks Sue

NiftyDigits

Susan1942 wrote: »

There seems to be a lot of information but I am confused by it all
I have gone to Australia several times As I am staying with Family my holidays have ranged from 4 - 9 weeks
Previously I have taken a fair amount of Australian $ with me but then will withdraw $ from my Santander Account from an ATM whilst I am there I use a Post Office card to pay for large purchases and also for taking when I have had a substantial bills say in a restaurant I am not sure if this is the best way to spend I understand that people can load money on to a cash card and withdraw this as and when I need it Is it worth my while trying to do this ? Advice would be appreciated many thanks Sue

Halifax Clarity.....that's it. No need to take cash with you, the 70's are long gone.

Susan1942

Thanks for that Will have a look at it
Sue

wacsa

Hello All,

I am planning on leaving the country to go travelling in June this year, possibly as early as the 8th of June.

I will be starting off in the USA (as some friends are going to Las Vegas for a 1 week holiday so I will join them and then go my own way afterwards) and hope to stay for 6 months before going to either Canada or Mexico.



I have an appointment for a US VISA on the 27th May (earliest I could get) so hopefully they will grant the extended VISA. I have a £20,000 lump sum in the bank and a guaranteed income of £340 per month so I'm hoping that is enough, if not I will just have to stay for 90 days under the waiver program.

My credit rating in the past was poor due to some earlier problems which I have since learned from, I have a bankruptcy from late June 2009 on my file, but even if that fell off my record this year I would imagine applying for a travel credit card would still be a no-go as I am now unemployed after taking an early pension from work. My income whilst not in the UK would be from that pension, which is £4000pa / £340pcm. I do have a small credit card (£500 limit Initial VISA card from Barclaycard) which has a zero balance.

So I believe my best option would be to get a prepaid travel card. I am unsure which one would be best, especially as I don't know where I will go after the US, although I think Canada is definite, at some point.

My bank account in the UK is basic, a Co-op cashminder account which has a debit card and I can transfer money online but it's not got any other features/benefits.

I don't want to carry much cash on me whilst travelling so I think a card is best, just don't know if a no-fee for ATM withdrawals would be better than a one with a better loading rate?


Any advice is greatly appreciated!

NiftyDigits

wacsa wrote: »

Hello All,

I am planning on leaving the country to go travelling in June this year, possibly as early as the 8th of June.

I will be starting off in the USA (as some friends are going to Las Vegas for a 1 week holiday so I will join them and then go my own way afterwards) and hope to stay for 6 months before going to either Canada or Mexico.



I have an appointment for a US VISA on the 27th May (earliest I could get) so hopefully they will grant the extended VISA. I have a £20,000 lump sum in the bank and a guaranteed income of £340 per month so I'm hoping that is enough, if not I will just have to stay for 90 days under the waiver program.

My credit rating in the past was poor due to some earlier problems which I have since learned from, I have a bankruptcy from late June 2009 on my file, but even if that fell off my record this year I would imagine applying for a travel credit card would still be a no-go as I am now unemployed after taking an early pension from work. My income whilst not in the UK would be from that pension, which is £4000pa / £340pcm. I do have a small credit card (£500 limit Initial VISA card from Barclaycard) which has a zero balance.

So I believe my best option would be to get a prepaid travel card. I am unsure which one would be best, especially as I don't know where I will go after the US, although I think Canada is definite, at some point.

My bank account in the UK is basic, a Co-op cashminder account which has a debit card and I can transfer money online but it's not got any other features/benefits.

I don't want to carry much cash on me whilst travelling so I think a card is best, just don't know if a no-fee for ATM withdrawals would be better than a one with a better loading rate?


Any advice is greatly appreciated!

You aren't limited to a single Prepaid card. Kalixa Pay(ask here for a referral in order to get a rebate of £5) would be a good start.
Also, Travelex's new Supercard could be useful if you can get one.

eDicky

NiftyDigits wrote: »

Also, Travelex's new Supercard could be useful if you can get one.

Has anybody actually obtained a Supercard yet?

Susan1942

I have had a look at the Halifax Clariton credit card I could get one but I have a Post Office one which I do use for overseas I want to withdraw cash while I am away as I stay with my Brother and his family As I am there I always give them some money on a weekly basis We use this along with their money to fund coffees groceries and small items What I have done previously is just take money out of my Santander debit card and I am not sure how much they charge me to do so I know I could take a larger amount out so cutting down on the no of withdrawals I see I can take money with the Clarion card but there is a interest charge of around 12% and this starts as soon as I withdraw the money I could put money on a card I understand but would this be possible Any other ideas I normally take a fair amount of money with me and I will use the Post Office card for any big purchases I suppose I could use this card for a lot more things I always want to have some ready cash Any other suggestions any thanks Sue