The Cheapest Way to Spend Overseas Discussion Area

pin

Have updated the list:

Its been asked soo, soo many times, where is the best place to get holiday money?

I know there are articles about holiday money, etc, however I thought I would write a little list of my top choices:

1. Nationwide Debit Card for ATM withdrawals from destination country / Nationwide Credit Card or the Audi credit card for purchases in destination country (but watch out for Dynamic Currency Conversion).

2. Any other debit card for ATM withdrawals from destination country / any other credit card for purchases in destination country (but for both CHECK T&C's to see exact charges).

3. Thomas Exchange Global in central London.

4. Travelex online (remember Travelex will price match any other exchange service, i.e. the one above)

5. Marks and Spencer

6. Online FX (using this link ensures free deliver).

7. Thomson Travel (they seem to use Amex as their travel money provider).

8. Co-op Travel (they use Curreny Express / Exchange and offer free delivery for orders over £300).

9. Post Office (while probably not the best rate, there are many of them around, so may be convinient).

10. Haggle with High Street travel agent (which may ensure better rates than 5 to 9 above).

With 3 - 9, if you are paying with debit / credit card check your T&C's as many providers charge for the priviledge of using money exchange services.

Bristolian_2

I was caught out recently. When asked by the cashier whether I wanted to pay in Euro or Sterling I said it was all the same to me. Big mistake because although the hotel did the conversion with 0% commission there was a special rate of exchange which favoured the hotel. I didn't really look at it at the time and foolishly was caught out again at another hotel. This was my first visit to Ireland, normally I holiday in Spain where this has never happened to me.
Moral of the story read Tips before going!!!!

terrierlady

is it possible to get a large amount of small bills ie $5 dollar bills for each grand child for daily spends.

pin

terrierlady wrote:

is it possible to get a large amount of small bills ie $5 dollar bills for each grand child for daily spends.

I guess if you are getting the money from a travel exchange place you could put in the request, however may be tricky as they will normally keep the slightly larger bills.

peterdowd

I have recently researched exchange of foreign currency (£100 worth of Malaysian Ringit) for a trip to the Far East (Malaysia)


N'wide Credit DebitCard-- 6.945 = £1 (Used for purchases or ATM withdrawal of cash abroad - Debit card only)

Travelex Direct -- 6.6501 = £1 4.43% worse than Nationwide

Currency-express.com-- 6.595 = £1 5.31% worse than Nationwide or 10.52% if you include delivery fee of £4.95

Travelex via Nationwide-- 6.516 = £1 6.58% worse than Nationwide or 10.31% if you include delivery fee of £3.50

foreign-currency.com -- 6.493 = £1 6.96% worse than Nationwide or 12.26% if you include delivery fee of £4.95

All the above quote "No Commission"

The bottom 4 are for either collection at the airport or delivery to home.

It is interesting that Travelex via Nationwide is much more expensive than going to Travelex direct.

My advice is:
1. Wait till you get abroad and use a Nationwide Debit Card in the cash machine.

2. If you are worried about having some cash in your pocket before you go, use travelex and collect it at the airport.

3. While abroad, wherever in the world, use a Nationwide Credit Card for purchases but not for cash.

Question: Why don't we all use Nationwide???

Peter

yeldir_2

Going places has offered me a pre paid debit card on the basis that it is safer than other cards and as secure as travellers cheques. Is this a new idea and is it worth it?

freya18th

Hi Pin, Just read your list on cheapest way to spend oversea. I think I will get my euros from Travelex but want to match Thomas's rate but can't find out how to let them know that I want to price match. Can you help this is the first time I have used Travelex and I am new to all this. June

pin

freya18th wrote:

Hi Pin, Just read your list on cheapest way to spend oversea. I think I will get my euros from Travelex but want to match Thomas's rate but can't find out how to let them know that I want to price match. Can you help this is the first time I have used Travelex and I am new to all this. June

Its really easy.

Go ahead, order your currency from Travelex.

Call Thomas Global Exchange to get their rate (rate may already be on their website).

Email [EMAIL="customerservices@travelex.com"]customerservices@travelex.com[/EMAIL] quoting your Travelex reference number and the fact you have found a better rate. Tell Travelex what the rate is and where you found it. Provide them with your home address.

You will get an email reply saying they will send you a cheque with the difference.

heatherw_01

Is the buy back plus from travelex worth the £3.50?

Finishrich

Probably not, but it depends how much money you want to chance back.

Personally I've never changed foreign currency back to sterling. Anything that's left over just gets kept for the next trip.