Cheap Travel Money Discussion Area

eDicky

Clare_cb wrote: »

On MSE's advice, I have a Halifax Clarity card. However, on many of my recent holidays to European tourist destinations; Lanzarote, Corfu, Fuerteventura, the exchange rate in the local booze shop has been far better.

This is not possible, unless you were making the mistake of selecting 'Conversion' when using your card in an ATM, allowing it to use a dreadful exchange rate instead of the Clarity's MasterCard rate. If so, try selecting 'Without Conversion' next time.

eDicky

manulike wrote: »

Is there such a Travel Card that somehow allows FREE cash withdrawals (from ATM or otherwise?)

The FairFX card and most prepaid cards are recognised and treated by merchants in the same way as a credit card.

The Revolut prepaid MasterCard gives fee-free ATM withdrawals up to 650€ per month (2%after that), and converts at the interbank rate.

Using your Clarity card to withdraw cash will be better value than the FairFX, especially if you pay it off quickly to avoid the minimal daily interest. Or open an account with Metro Bank if you are in the London area, and use their debit card fee-free in Europe.

murphydavid

If you use Halifax Clarity card in an ATM or a Supermarket in Europe and
1. Check the ATM provider is not making an extra charge
2. Select charge in local currency on the ATM
3. Make sure the supermarket bills you in local currency
then the rate you pay will be as calculated here
https://www.mastercard.com/global/currencyconversion/
then you will be charged interest by Halifax for the ATM transactions only till you pay off your card. Using the internet banking the transactions will appear on your credit card bill in about 3 to 5 days and you can pay it imediately.
Thats how it works for me
One other thing is tell Halifax in advance where you are going to prevent card being bared

manulike

murphydavid wrote: »

If you use Halifax Clarity card in an ATM or a Supermarket in Europe and
1. Check the ATM provider is not making an extra charge
2. Select charge in local currency on the ATM
3. Make sure the supermarket bills you in local currency
then the rate you pay will be as calculated here
https://www.mastercard.com/global/currencyconversion/
then you will be charged interest by Halifax for the ATM transactions only till you pay off your card. Using the internet banking the transactions will appear on your credit card bill in about 3 to 5 days and you can pay it imediately.
Thats how it works for me
One other thing is tell Halifax in advance where you are going to prevent card being bared

Thank you for your speedy response.
I have just spoken to Halifax Clarity people.
They confirmed two things:
1/. I can not pay upfront or place money in advance into my Halifax Clarity card and then assume they will use that to clear my account daily.

2/. There are no fees when making ATM CASH withdrawals abroad - unless the ATM machine itself indicates otherwise.

NOTE - if you do make an ATM Cash withdrawal, you will be charges an APR INTEREST of 12.9% from the day you made the withdrawal until the day you cleared your statement - in theory, this can be 45 days!

AND HERE IS THE INTERESTING NEWS:
If you go online and register for Halifax On-line banking. you then have the option to:
"PAY CREDIT CARD" - This then asks you: PAY IN FULL or PAY MINIMUM AMOUNT.
Choose pay in full and as long as you do this every 4 or 5 days, the maximum you pay on your ATM transactions will be about 3p/daily/per €100 withdrawn...

murphydavid

Also Re Clarity card there is a bonus scheme if you open it after opening a Halifax current account (£5 bonus for £300 spend) see
http://www.moneywise.co.uk/halifax/rewards-clarity-credit-card
Unfortunately, for me at least, if you apply in the wrong order (card then current account) as I did you don't get the bonus on the card and they say only way to rectify this is to close all Halifax accounts - wait a while then open the current account first.

NiftyDigits

manulike wrote: »

Thank you for your speedy response.
I have just spoken to Halifax Clarity people.
They confirmed two things:
1/. I can not pay upfront or place money in advance into my Halifax Clarity card and then assume they will use that to clear my account daily.

2/. There are no fees when making ATM CASH withdrawals abroad - unless the ATM machine itself indicates otherwise.

NOTE - if you do make an ATM Cash withdrawal, you will be charges an APR INTEREST of 12.9% from the day you made the withdrawal until the day you cleared your statement - in theory, this can be 45 days!

AND HERE IS THE INTERESTING NEWS:
If you go online and register for Halifax On-line banking. you then have the option to:
"PAY CREDIT CARD" - This then asks you: PAY IN FULL or PAY MINIMUM AMOUNT.
Choose pay in full and as long as you do this every 4 or 5 days, the maximum you pay on your ATM transactions will be about 3p/daily/per €100 withdrawn...

Welcome to the party. :beer: It's been going on for quite a while already.

Snapelover

Hoping someone can give me some advice to pass n to my Dad who is going to Spain next Thursday for 2 weeks (short notice, only found out yesterday) and I am trying to find how best for him to handle his money. He is 76 and not stupid or having any problems with his mind etc. but nothing too complicated is his preference.

He doesn't have an Android phone so I know that Revolut and the likes are a no no. He plans to take some cash but also wants to be able to access cash whilst in Spain (I know he won't want to purchase goods and services on a credit card) so what are his best options?

Is a prepaid travel his best choice?

Thanks.

eDicky

Snapelover wrote: »

Is a prepaid travel [card] his best choice?

The FairFX Euro card would be useful, but it's unlikely to be delivered in time. It might be worth calling them to check. Otherwise look for the best deal to buy some cash euros using the MSE 'travelmoneymaximiser:'(?) or exchange cash pounds when there.

Snapelover

eDicky wrote: »

The FairFX Euro card would be useful, but it's unlikely to be delivered in time. It might be worth calling them to check. Otherwise look for the best deal to buy some cash euros using the MSE 'travelmoneymaximiser:'(?) or exchange cash pounds when there.

This card charges for ATM withdrawals so isn't this better for those wanting to pay with card rather than cash?

PeacefulWaters

What credit cards and debit cards does he have?