Cheap Travel Money Discussion Area

John_Pierpoint

I was once given a French Franc note by Lloyds on a Wednesday.
Fortunately on a trip to France the following weekend, when about to purchase say 30 quid's worth of stuff I noticed a tatty photocopy of the note stuck to the till with (in French) a scribbled message saying we will not be accepting these on script date where that date was next Monday - I think the central bank was planning for the introduction of the Euro. I was just able to stop the cashier from processing my card and we did a split transaction where I paid part in cash part in plastic.

Another good reason to avoid folding money unless it is US Dollars.
(Beware of forgeries)

John

PS I've used Thomas Global Exchange once - walked in off the street and walked out again within 10 minutes with about 150 GBP in Norwegian currency, at a much better rate than available on the boat.

jnm21

Donnie, there really is no point getting nasty & personal - as I have told you before, I have risen above your level & refuse to rise to your insults.

The link is there in my post on that thread to educate you. The notes were announced in August 09 & due to out of circulation by Jan 10 - the March 10 date was an extension (with limited exchange points) announced in January 10: http://www.bankofbotswana.bw/assets/uploaded/exchange-of-banknotes-final-reminder.pdf

Looking at the documents, the notes sold were probably not legal tender when sold (only exchangeable for legal tender at any bank/BS/PO listed for a mere matter of days when sold).

I believe that reimbursement & compensation are due as I am an amateur with merely an interest in the subject (and helping the OP of the thread who was being slated for no good reason), yet I found the info in around half an hour, where as the FX company are supposed to be professional & should have found this out - indeed they have a duty to do so.

Can you give a factual reason why I am off the mark?

jnm21

MykieMike wrote: »

Here is the answer I got from Nationwide when I questioned them regarding this. They do say that they do not charge to use their credit card in Europe. Me thinks if I pre-load the card with my spending money I can withdraw cash on it with no interest charge either. Wonder if that would work.

We do appreciate your loyalty to Nationwide and are constantly striving to find the best possible ways to deliver real value to our members. You have asked why customers who use their FlexAccount as their main account can't continue to use their cards abroad without charges. Commission free card use abroad has been a long standing benefit of Nationwide’s FlexAccount but, even though it has been available for more than ten years, only around a third of our current account holders have used it each year. Over time we have found it has provided a huge benefit to a tiny minority of our current account members, such as regular business travellers. At the same time it has benefited others by only a modest amount and it has not benefited the majority of our current account members at all. It is simply not an equitable way to share member value. However, the majority can benefit from free travel insurance if they make FlexAccount their main account and the value they would receive will be shared more equitably.

We have a responsibility to manage the business in the most prudent and sustainable way for our membership as a whole and a key part of our corporate strategy is to encourage more members to use their FlexAccount as their main current account. We believe the free multi-trip travel insurance is more likely to encourage people to use their FlexAccount as their main account, particularly as it covers holidays booked in the UK as well as in the rest of Europe.

The future introduction of 2% commission for debit card use abroad and the £1 cash withdrawal fee also have to be seen in the context of the charges made by our competitors. Nationwide’s planned charges are still lower than those made by the majority of our high street competitors. Very importantly, the changes only apply to FlexAccount customers and not Nationwide's credit card customers. Nationwide credit card customers will continue to be charged a 1% fee outside Europe and no foreign usage charges within Europe.

I do understand your concerns and I acknowledge that you are not alone in really appreciating the existing arrangements. I have tried to give you the fullest possible explanation of the rationale behind the changes. We did not take this step lightly, but we have to put in place benefits that are more equitable, prudent and sustainable.

Got exactly the same stock reply - disgusted! Knew that a reply at 090X meant that it would be a stock reply, but to use the same one is shocking. Just tried to tell them & they are having an issue with messaging!!!

MoonBrain

Hello,
I'll be travelling to Canada next week and I am wondering the best way to carry currency as I will need some on arrival. I have a Dollar FairFX card but I'm not sure that the exchange rate will be so good when it is changed from US dollars to Canadian dollars.
Any suggestions?

iblametheparents

MoonBrain wrote: »

Hello,
I'll be travelling to Canada next week and I am wondering the best way to carry currency as I will need some on arrival. I have a Dollar FairFX card but I'm not sure that the exchange rate will be so good when it is changed from US dollars to Canadian dollars.
Any suggestions?

They use the wholesale the Mastercard market rate between US$ and Canadian$ with no loading or transaction charge, other than if you use an ATM obviously. You've already been charged so to speak when loading the US$ card as there is a hidden loading on the Mastercard rate, so they won't charge you again.

CountryGoose

....who wants frequent withdrawals from overseas ATMs is the FairFX Currency Card.

Loading is 1.5% of the Mastercard Rate, with no further ATM Charges. Move the funds from your current account before you withdraw and all is good!

As the difference is only .5% from the Nationwide out of the Eurozone, I'm going to make the move now and get used to the card.

iblametheparents

CountryGoose wrote: »

....who wants frequent withdrawals from overseas ATMs is the FairFX Currency Card.

Loading is 1.5% of the Mastercard Rate, with no further ATM Charges. Move the funds from your current account before you withdraw and all is good!

As the difference is only .5% from the Nationwide out of the Eurozone, I'm going to make the move now and get used to the card.

I experienced a quick delivery of my card too. I ordered the FairFX Anywhere card on Sunday and it arrived in the post today.

SallySunshine

I will probably be using my Nationwide card for cash withdrawals abroad forthe last time in Sept/October, then probably be getting cash from Crown Currency and also using my FairFX Anywhere card.

However I am still not certain whether to use the sterling card to withdraw money or buy a Euro Card.

Plenty of time to sort this out for next time but has anyone else worked out which is the best card to use?

iblametheparents

SallySunshine wrote: »

I will probably be using my Nationwide card for cash withdrawals abroad forthe last time in Sept/October, then probably be getting cash from Crown Currency and also using my FairFX Anywhere card.

However I am still not certain whether to use the sterling card to withdraw money or buy a Euro Card.

Plenty of time to sort this out for next time but has anyone else worked out which is the best card to use?

FairFX Anywhere - 1.5% charge on all transactions using Mastercard rate as opposed to the Euro Card which has a slight (1.5%-2%ish) load on the Mastercard rate BUT charges you €1.50 each time you use an ATM.

Infidel

I heard Nationwide are about to start charging £1 for cash withdrawals abroad (even in Europe). Sad times, sad times.

Does anyone know from which date this will be effective?

It'll soon be time to ship out.......are there any cheaper alternatives?