Cheap Travel Money Discussion Area

John_Pierpoint

It slightly depends where you are going in Greece and how mobile you will be when you get there. If it is some little fishing island with only one bank, it is just possible that the bank might run out of money.

malc_b

AndyRen wrote: »

What is the absolute cheapest way of spending money in Europe (euros) overall:

1. Getting the best overseas credit card (Nationwide Flexaccount Visa Debit / Santander Zero)
2. Buying your euros at the cheapest place in the UK (with sterling banknotes so no card charges)
3. Buying your euros once you get to your destination (with sterling banknotes)
4. Prepaying onto a FairFX / Caxton-type card...?

Would be good if Martin could put the answer back in the original article.

You've already answered this in part. If you have a NW flex account then ATM on holiday would be cheapest. NW credit card or Zero CC is another cheap option for paying.

For euros in the uk I'd suggest the post office for large amounts or travelex pre-order and pick up the euros at the airport. The rates for both those seem pretty competitive but shop around. Both those BTW can be used via cash back sites for an even better return (PO is £3 on TopCashBack). If you use a debit card then there is no charge for using that. Use a CC then you will get charged.

Can't say about the rest as the above covers me for euros home and away, and CC for use abroad.

BTW for credit and debit cards don't forget to check if the bank needs to know your holiday dates. That is the case for Zero card. And always have a back up plan (or your bank phone number) in case the card gets blocked.

dzug1

malc_b wrote: »

For euros in the uk I'd suggest the post office for large amounts or travelex pre-order and pick up the euros at the airport. The rates for both those seem pretty competitive but shop around. Both those BTW can be used via cash back sites for an even better return (PO is £3 on TopCashBack). If you use a debit card then there is no charge for using that. Use a CC then you will get charged.

.

Not true - it depends on your debit card. Some charge, some don't

dzug1

part-timer wrote: »

Afternoon guys. We are going on holiday later this week to Lanzarote and the euro exchange rate in the uk is appalling. Does anyone know if we change stirling over there if we would get a better exchange rate?

You COULD get a better rate. If you do it would be the result of shopping around once there to find the right outlet. It won't be universal.

pamelavhill

Thanks to all who answered about Euros in Greece. Another Q for you all: Martin mentioned in his newsletter that if ash cloud cancels flights or holiday (if booked independently) your insurance might cover it as long as it was a policy taken out before the ash cloud started to affect things. My annual policy is coming up for renewal and I wondered if I would be afforded cover as it is a continuiation/renewal of the policy? Help.....!

malc_b

dzug1 wrote: »

Not true - it depends on your debit card. Some charge, some don't

I've bought from PO and Travelex with my debit card and not been charged by either those or my bank. I can't see any bank ever charging for debit card nor can I see why those 2 would be free for one debit card and charge for another. Credit cards will see a fee from PO and Travelex and from the credit card company.

It's easy to check this, if you doubt me. Just go part way through buying some Euros on travelex and on the payment page travelex say "Note: Travelex will not charge you for using a UK debit card.".

The PO says "Please note that your credit / debit card provider may charge a cash advance fee for buying currency. You should check with your card provider regarding any charges which may apply. If you wish to pay by MasterCard credit card a handling fee of 1.5% of the order value will be applied (min £4.00 – max £15.00).This will be shown within your order summary."

So I stand by my statement. I suppose if you have a debit card for a non-uk bank, or with a bank that charges you then you may pay a fee. In that case I'd suggest changing banks.

Of course flights often charge for debit cards and credit cards, easyjet, rynair etc. with debit cards being cheaper.

dzug1

malc_b wrote: »

I've bought from PO and Travelex with my debit card and not been charged by either those or my bank. I can't see any bank ever charging for debit card nor can I see why those 2 would be free for one debit card and charge for another. Credit cards will see a fee from PO and Travelex and from the credit card company.

It's easy to check this, if you doubt me. Just go part way through buying some Euros on travelex and on the payment page travelex say "Note: Travelex will not charge you for using a UK debit card.".

The PO says "Please note that your credit / debit card provider may charge a cash advance fee for buying currency. You should check with your card provider regarding any charges which may apply. If you wish to pay by MasterCard credit card a handling fee of 1.5% of the order value will be applied (min £4.00 – max £15.00).This will be shown within your order summary."

So I stand by my statement. I suppose if you have a debit card for a non-uk bank, or with a bank that charges you then you may pay a fee. In that case I'd suggest changing banks.

I do 100% doubt you. You are plain wrong. Please feel free to be shot down in flames:

Visa Debit cards.
If you have one of the following debit cards, you'll be charged a 2%-ish fee. The banks that charge issue 'Visa Debit' (previously Delta) cards, though that doesn’t mean every Visa Debit card charges.
Charge made

Abbey A&L Barclays Cahoot Coop Lloyds Smile Natwest/RBS

No charge made

Coventry First Direct Halifax HSBC Intelligent Finance Nationwaide



That's copied and pasted (and reformatted grrrr) from Martin's guide

Just to make it clear - the PO/Travelex/etc will NOT charge you. You are right about that. But your bank WILL charge you if you have one of the above cards

twinkle162

I've been reading the articles on the main page, luckily I've got a Nationwide Debit Card... 1% load fee puzzles me a little

I also have a VISA from Ulster Bank / which I think is the equivalent of Royal Bank of Scotland.

Is it basically 1 percent fee on all transactions with no charge, better to pay with debit card rather than withdraw cash with it?

Thanks.

dzug1

twinkle162 wrote: »

I've been reading the articles on the main page, luckily I've got a Nationwide Debit Card... 1% load fee puzzles me a little

I also have a VISA from Ulster Bank / which I think is the equivalent of Royal Bank of Scotland.

Is it basically 1 percent fee on all transactions with no charge, better to pay with debit card rather than withdraw cash with it?

Thanks.

The Nationwide card will charge you the wholesale exchange rate plus 1% both for purchases and ATMs. Most (but not all) American ATMs charge a fee - which will apply to whatever card you use in it - so slightly better to use for purchases and keep cash to a minimum.

Your Ulster bank debit card will charge you 2.65% on that same wholesale rate PLUS a fee of 75p per purchase or £2.25% (min £2 max £5) for an ATM. Best not used at all except in an emergency

jago25_98

I travel pretty much constantly.
I carry the Nationwide card.
I will carrying some gold as a backup on my next trip.
I am looking for an account in a foreign land similar to the Nationwide as well.

Hope this helps.