Cheap Travel Money Discussion Area

J_B

mrsimes wrote: »

That's a great shout. Didn't think of that. Thank you very much.

Then press the 'Thanks' button!

dzug1

NiftyDigits wrote: »

This is quite wrong. It might be a problem with a foreign currency card, but with a card denominated in Pounds, you can spend to the last penny.

Point taken - but there is a transaction fee for sterling spending and the amount involved is more than I ever spend in a supermarket in one go. So I need to wait for a larger transaction or put up with multiple fees.

Bobpants

Hi I've got a bit of a problem with weswap the travel card company. As I write this post I am in Orlando Florida with my wife, a 4 month old an 8yo and a 10 yo my weswap card has been cloned or skimmed whilst I'm here and about $1200 dollars drained from it, I have nothing left, I have money to feed my family for today, and I don't fly home until Monday. Be wary of these travel cards as I've been told that it could take 30 days for MasterCard to investigate the activities and I am told by MasterCard that the emergency measures that are usually in place for credit cards abroad (1day replacement and emergency cash help) are not available to travel card users.
I have been abandoned by these cards that I trusted my holiday money with!

NiftyDigits

dzug1 wrote: »

Point taken - but there is a transaction fee for sterling spending and the amount involved is more than I ever spend in a supermarket in one go. So I need to wait for a larger transaction or put up with multiple fees.

What transaction fee?

Kalixa Pay has no fee for purchases. In the UK or otherwise.

tuk

Think Martin needs to update his Compare the best online rate for your holiday money as there are many hidden charges which you annoyingly don't find out about until you've filled in all the order details, for eg with 'Moneycorp (Delivery)' there is an additional £20 for using a credit card or BestForeignExchange.com has a delivery charge so the shown comparison rates are inaccurate, there is no reason I can think of(sic) why these charges are not calculated into the shown rate?

For eg, when changing: GBP1000 into Baht using Moneycorp (Delivery) & paying with cc...the actual rate is: 52.339 not the claimed: 53.359

http://travelmoney.moneysavingexpert.com/holiday-money/thai%20baht/delivery/weeks/1000-pounds-worth#results

monkeyspanner

My daugher is travelling to Canada on a working holiday visa and I am trying to help her set up finances for the trip. (up to 2 years)
- She has applied for a Halifax Clarity credit card which should give her fee free overseas card purchases at a rate of 1.99. Her current bank debit card fees have bad overseas transaction fees.
- She intends to take a small amount of cash. It appears John Lewis gives one of the best rates (1.97) for high street foreign currency cash at the moment although this does not appear on MSE travel money comparison.
-She will start a cheqing account in Canada when she gets there which will also give her a local debit card. I was looking at ways of transfering a lump sum to her canadian account to give her an initial buffer. Options found so far.
Bank transfer- Rate 1.929 plus £10 international transfer fee.
Western Union- Rate 1.979 plus £9.90 international transfer fee
I am not sure about the WU option as this is using a bank account in UK and she may incur additional bank fees using this method. Also it appears different banks use different foreign exchange rates for international transfers does anyone know which bank is best?

Does anyone have any experience of how long cleared funds might take to transfer from a UK bank to Canadian bank account?

If anyone has any other suggestions to reduce her costs please reply.

NiftyDigits

monkeyspanner wrote: »

My daugher is travelling to Canada on a working holiday visa and I am trying to help her set up finances for the trip. (up to 2 years)
- She has applied for a Halifax Clarity credit card which should give her fee free overseas card purchases at a rate of 1.99. Her current bank debit card fees have bad overseas transaction fees.
- She intends to take a small amount of cash. It appears John Lewis gives one of the best rates (1.97) for high street foreign currency cash at the moment although this does not appear on MSE travel money comparison.
-She will start a cheqing account in Canada when she gets there which will also give her a local debit card. I was looking at ways of transfering a lump sum to her canadian account to give her an initial buffer. Options found so far.
Bank transfer- Rate 1.929 plus £10 international transfer fee.
Western Union- Rate 1.979 plus £9.90 international transfer fee
I am not sure about the WU option as this is using a bank account in UK and she may incur additional bank fees using this method. Also it appears different banks use different foreign exchange rates for international transfers does anyone know which bank is best?

Does anyone have any experience of how long cleared funds might take to transfer from a UK bank to Canadian bank account?

If anyone has any other suggestions to reduce her costs please reply.

A Revolut account for the first year. She can simply withdraw cash from a fee free ATM and deposit it in the current account. So currently that would be at C$1.99+

N9eav

Is it too simplistic to think that rates offer for delivery in 2-3 weeks could be an indicator of what they think the markets will do?


The dollar is pretty awful right now, but I will need them in 2 weeks. Last week it was £1.39 local. Future deliver was offering £1.43.


This week £1.425 local Future 1.44.


Admittedly there is not much in it when we are talking £1000, but stick or twist?

Kernow666

pretty good deal if you can get at 1.425


I get asked every day if rates are going up - people are expecting 1.50


just done a deal with a customer of mine for 1.43 but he did buy $4000

NiftyDigits

N9eav wrote: »

Is it too simplistic to think that rates offer for delivery in 2-3 weeks could be an indicator of what they think the markets will do?


The dollar is pretty awful right now, but I will need them in 2 weeks. Last week it was £1.39 local. Future deliver was offering £1.43.


This week £1.425 local Future 1.44.


Admittedly there is not much in it when we are talking £1000, but stick or twist?

If you utilise the right method(plastic), you are looking at US$1.45 currently. Why so primitive in outlook? Do you need the US$ in the UK?