Cheap Travel Money Discussion Area

malc_b

dzug1 wrote: »

Most (but not all) American ATMs charge a fee - which will apply to whatever card you use in it

I was told that, obvious really, most expensive ATMs will be disney, etc., Next expensive are the Malls. Supermarkets are the cheapest. As a rule of thumb of course. When I went last ATMs at Publix supermarkets were free of charges so I'd try them first.

twinkle162

jago25_98 wrote: »

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.

Thanks, so basically cash is the best option? If the debit card is going to charge me the wholesale exchange rate (probably bad?)... plus 1% fee...

Little confused, just bring cash, with Nationwide to use as debit card if necessary, with VISA as back up for emergencies...

dzug1

twinkle162 wrote: »

Thanks, so basically cash is the best option? If the debit card is going to charge me the wholesale exchange rate (probably bad?)... plus 1% fee...

Little confused, just bring cash, with Nationwide to use as debit card if necessary, with VISA as back up for emergencies...

The wholesale rate is the best rate anyone other than currency brokers can get. If you can get it plus 1% you are laughing all the way out of the bank.

Taking cash can be expensive - if you buy it on the High Street here it can cost you 5% (on that same wholesale rate). It doesnt have to if you shop around, but you are not going to beat 1%

Wayne3765

I need to get some Euros soon and have been watching the exchange rates which are now on approx. £1 = 1.2 Euro.

Is this likely to rise much higher in the next 6 weeks or should I just buy now at that rate ?

paul2468

Wayne3765 wrote: »

I need to get some Euros soon and have been watching the exchange rates which are now on approx. £1 = 1.2 Euro.

Is this likely to rise much higher in the next 6 weeks or should I just buy now at that rate ?

I am going to Menorca on friday...Looked at the post office website and saw the rate was £1=1.16...so off i go to get my money....sorry sir but that is the online rate...if you want to change here you will get £1=1.12...anyway i went home ordered it online for the better rate and will pick it up from tha local post office tommorow..

Toe-Jam

jago25_98 wrote: »

I will carrying some gold as a backup on my next trip.
.

LOL!....yes we should all plan on the world economy collapsing and money becoming worthless while we are on holiday I suppose. I might bring a few chickens and a goat with me.

Toe-Jam

malc_b wrote: »

I was told that, obvious really, most expensive ATMs will be disney, etc., Next expensive are the Malls. Supermarkets are the cheapest. As a rule of thumb of course. When I went last ATMs at Publix supermarkets were free of charges so I'd try them first.

If you find and atm that says Allpoint, its a green sticker with yellow writing, its free to use those.

Also if you have a barclays debit card its totally free to use bank of america.

malc_b

dzug1 wrote: »

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

If you have one of the following debit cards, you'll be charged a 2%-ish fee. ......

Well my debit card is Halifax, so free. I wouldn't use a bank that charged me but then I will move banks, I have 3 current accounts, one of which is unused.

I'm not sure I understand the logic of something that was meant to replace cheques, the debit card, and then charging you a fee. Still who expects logic from banks. The stupidity is that it costs more to handle cash than cards yet cash is free of charges. So the banks that charge for cards just make customers use more cash meaning that have more cash to handle.

BTW Australian banks seem just as thick. They only allow so many free ATMs per month so I'm told. So naturally Aussies take out large sums each time. The banks' cash decreases. Funds they could be lending or making profits on are instead spread around people's pockets.

Amber_47

Wish to suggest this as a cheap holiday money card.

Backed by Master Card found this very cheap alternative to cash but use with caution.

Pros:

Can be used as a payment card or to withdraw cash.

Loading at Thomas Cook with foreign currency costs nothing. Only cost is exchange rate applied on day of loading. This is same rate as for cash.

If leaving same day currency can be loaded and card will be activated after 4 hours of loading. No long wait in currency clearing.

ATM withdrawals in loaded currency costing around £1.50 plus local charges. No foreign currency handling charges.

Cons:
If not used for 15 months then costs £2.00 per month.
Minimum load approx. £30 depending on currency. Maximum load for year depends on currency chosen.

DO NOT USE IN PREAUTHORISED TRANSACTIONS Final cost may be more than you have on your card. Immediate payment will be expected to be made by you (eg Hotel, Car Hire, etc) although part payment using card is possible if remainder being paid cash.

Pro:
The beauty of this is you can get card for the currency you plan to use, before you go. 7 currencies currently catered for (NZ $, EU €, ZA R, GB £, AU $, CA $, US $)

Has all the safety of Master Card should you lose your pre-paid card or have it stolen.

Be careful if the GBP gains on the market the currency in your account will not change so load up when GBP is high.

Thomas Cook is currently changing currency commission free but rate is slightly less than other places. It will pay to check how much it costs to get to the 'cheaper' place. Loading charges may apply if card loaded outwith Thomas Cook.

kevnlilley

I need to pay a relative approx £4000 in euros.
I have a Santander Zero card and was thinking of paying £4000 onto the card then withdrawing the cash in euros from French ATMS. By doing this I'll get the wholesale exchange rate, no loading charge and, because I'll have pre-loaded the card with the cash, no APR on the money I withdraw.

Does anyone know which French ATMS do not charge for withdrawals ?

Have I got this right ? Or am I making a costly mistake...