The Cheapest Way to Spend Overseas Discussion Area

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pat_sexy wrote:

Hi Everybody,

I'm heading to Toronto, Canada in a few days with my no fees Nationwide Flex card.

Does anyone know of any Canadian banks which do not charge ATM withdrawal fees

or, at least, who charges the lowest fees.

Thanx

Pat

Hi

I know the search function is a bit sucky, but this question has come up a few times in the past.

In general, in Toronto, most of the main banks won't charge. When I was there about 18 months ago, I used ATM's on the street all over the place and never once got charged.

knithappens

the nationwide card, can you use it for chip and pin purchases and if so is there a fee??

mycar37

gentlepurr wrote:

as a matter of interest, if travelling to eec, i buy my ciggies at approx £11 for 200, making them £1.10 for 20. i keep a tin by my ciggie stock, and buy them off myself at £2.50 each pack. not only is the money then there for paying next months c/c bill, i'm also paying off twice what the debt was, and still got cheap ciggies into the bargain!

a bit of feel good psychology about it all!

xx

You'd save a lot more if you gave up that nasty habit!

pin

Sorry, list updated again:

Hi, Here is my list of top places on how to get money to spend abroad:

1. Nationwide Debit Card for ATM withdrawals from destination country (no foreign loading) / Nationwide Credit Card, the Audi credit card or the Post Office credit card for purchases in destination country (but watch out for Dynamic Currency Conversion) (no foreign loading for purchases, BUT watch charges for cash withdrawals).
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2. SAGA credit card (if you are over 50) for purchases in destination country (no foreign loading for European purchases, 1% for rest of the world, no cash withdrawal interest if balance repaid in full BUT 1.5%/£1.50 cash withdrawal fee).

3. 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).

4. Thomas Exchange Global ("TEG") in central London - pay and pick up at store.

5. Travelex online (remember Travelex will price match any other exchange service, i.e. the one above) -pay online, pick up at airport.

For price matching: order through Travelex online as you would do normally, then call up TEG (02072401214 or 02078281880) and get a quote re their exchange rate. Email Travelex: [EMAIL="customerservices@travelex.com"]customerservices@travelex.com[/EMAIL] (must be done on the same day) stating the following: your Travelex reference number, your currency quote from TEG (and the fact you got it from TEG) and your address (Travelex will send you a cheque refunding the difference). Also Travelex normally acknowledge receipt of your email. Full terms and conditions of the Travelex Price Promise are on the Travelex website.

6. Marks and Spencer - pay online or pay and pick up instore.

7. Online FX (using this link ensures free deliver) - pay online, delivery to home.

8. Thomson Travel (they seem to use Amex as their travel money provider) - pay online, delivery to home.

9. Co-op Travel (they use Currency Express / Exchange and offer free delivery for orders over £300) - pay online, delivery to home.

10. Post Office (while probably not the best rate, there are many of them around, so may be convenient) - pay online, pick up at PO or pay and pick up at PO.

11. Haggle with High Street travel agent (which may ensure better rates than 5 to 9 above) - pay and pick up instore.

With 4 - 11, if you are paying with debit / credit card check your T&C's as many providers charge for the privilege of using money exchange services.

Here are links to ATM locators: VISA and MasterCard

Here are various information links to VISA: Foreign Exhcnage Rate FAQ and Visa Exchange Rates

Also please read Martin's article: Spending Overseas and Loading Technicals

Also look at the these forum threads: Travel Money: The List & The Cheapest Way to Spend Overseas Discussion Area and How to buy TCs and foreign currency

Hope this all helps!!
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thriftyvee

I've been told I have to pay in cash (local currency) but don't really want to go totally wedged what would be the best way to exchange money in Cuba given that ATM's might be sparse? I've also been told not to take US $ ?

aliceband

I bought something for 30 euros in Spain on 30th September on my Marks and Spencer Mastercard, my bill has just come through and I have only been charged £21 which is a full 70p per euro and no additional charges were on the bill for currency exchange etc

aliceband

I was in Cuba in February, US dollars are a complete no no, there is a 20% surcharge. Getting cash on my Mastercard and exchanging sterling travellers cheques also incurred a high charge. Sterling and euros ( very welcome) cash are by far the best, the exchange rate for sterling was basically the same as the euro. Buy a very secure money belt and take it all in cash. ATM's were almost impossible to find, the best place were the big hotels especially in Havana, the National or the Sevilla and you need your passport.
PS if you do change travellers cheques you will need to show the receipt for them
Have a fab time, I loved Cuba!!!

cliver029_2

Not sure if I am cross posting (if so sorry in advance)

Can any one help me with info on a "new" facility to use instead of travellers cheques etc, namely a card with cash on it that is backed by Visa etc any one know where I can find info on this service please?

TIA

suebee4

Thanks for interesting and useful article..
I have both Debit and Credit (Cash back) cards from Nationwide but have always used my American Express Gold card (only) in the US....

am I doing the wrong thing?
(I always pay my bill in total when I get back and keep receipts to check against the bill)

Thanks in advance,

suebee4 :-)

pin

suebee4 wrote:

Thanks for interesting and useful article..
I have both Debit and Credit (Cash back) cards from Nationwide but have always used my American Express Gold card (only) in the US....

am I doing the wrong thing?
(I always pay my bill in total when I get back and keep receipts to check against the bill)

Thanks in advance,

suebee4 :-)

Yes, because Amex charge you 2.73% currency conversion fee, while Nationwide doesn't charge anything.