The Cheapest Way to Spend Overseas Discussion Area

Weymouth_Man

Peter-Pan wrote:

We have Nationwide Flex-account Debit cards we just get money from the ATMs while abroad and you get a better rate of exchange and no commision both ends.

We have the same, have used Nationwide many times when away, but still it's nice to take some local doss away with you ? :cool:
:grouphug::hello: :wave:

John_3:16

Nationwide card here too. Just take the visa incase

Iona_Penny

The Post Office changes to Euros and Dollars. It may not be the best rate but it is commision-free and I use it for small amounts as it is so convenient and by the time I had paid to travel to nearest M&S it would be time and money lost.
I really wouldn't take travellers cheques to Europe as the ATM machines are really easy, but beware if you get charged for each transaction to take out 1 larger sum instead of 4 or 5 smaller amounts.

Oscar

Please excuse my ignorance on this one....it has been a few years since we have been on holiday to Europe. In the old days when every country had their own currency we always took Sterling travellers cheques. Can someone please tell me if this is still the case or should we be buying Euro ones which seems to make more sense.

Thanks!

jonesMUFCforever

This is a difficult one to answer!
Personally I would take sterling travellers cheques - If I have any left then there is no loss on exchange rate and they can go straight back into my account.
Euro t/c on the other hand can cause trouble. I have heard of some people not being able to cash them anywhere because of an epidemic of forgeries! + if you have any left you lose out on exchange rate when paying them back in.
The only useful thing these days with t/c is that with AMEX at least you get a refund within 24/48 hours should you lose or have them stolen.
If your cash and cards are stolen then you are going to be stuffed unless your insurance will cough up an emergency loan for you.

sicknote

Help! I am travelling to spain in a couple of weeks and need some euros. Thing is every year I buy euros come back with euro travellers cheques and lose money changing them back. My friend says to take sterling travellers cheques but then I lose money changing them abroad. Ive read all your advice on using plastic but only have a VISA Electron card with The Cooperative Bank would I still benefit if i used this and would the ATM machines accept this card. Thanks any advice appreciated.

Itchyfeet_2

I'm travelling to Asia and Australia later this year and am looking at ways to maximise the money I'm struggling to save! I've applied for the Nationwide flexaccount and its no-charge debit card. I'm also keen to have money in other pots so will probably get some travellers cheques. I don't have a credit card (and don't want one) so I was thinking of putting some cash on one of those new prepaid travelcards or on the egg money card. They all charge for using them abroad (egg money seems cheaper than the prepaid cards) so it would only be for emergencies. Has anyone looked into any of these cards for the purposes of using them abroad or on a long trip?

meshelly

Can anyone tell me if the Post Office Travel Money Card or Amex Travellers Cheques cards are value for money to use over an Abbey debit card?

My 18 year old son is going to Europe and I am not keen on him carrying cash so these looked, on the face of it, a good idea. However, they both have a fee to obtain in the first place - £10 or £20 and then £2 everytime a withdrawl is made. Would this still be cheaper than a debit card?

Many thanks

pob

I opened a Nationwide Flex account last month, but they say they wont give me a Visa Debit card until the account is 5 months old!! Did I just get an unhelpful teller?!

I'm going to the states next month, will the standard Cash Card (has Link and Cirrus symbols on back) work in any USA ATM's?

student100

sicknote wrote:

Ive read all your advice on using plastic but only have a VISA Electron card with The Cooperative Bank would I still benefit if i used this and would the ATM machines accept this card. Thanks any advice appreciated.

Yes you probably would still benefit, and yes they should do.

Although the charge for withdrawing cash will probably be either 2.75% plus £2 or 2.75% plus 2%, whichever is greater (see here).