The Cheapest Way to Spend Overseas Discussion Area

pin

Hi, updated list:

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) / 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).

2. Nationwide Credit Card (due to Nationwides policy re forced use of Chip and Pin in foreign countries) (no foreign loading for purchases, BUT watch charges for cash withdrawals).
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3. 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).

4. 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).

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

6. 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.

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

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

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

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

11. 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.

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

With 4 - 12, 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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morrisp6

A friend of mine mentioned that you can get Tax back from Journey's to Canada and America, as of July 2006, but can't remember where they read this. Does anyone know anything about this, and what it applies to etc ( business or Personal journeys ) ??

Off to Google it now, and will update if I find anything !

Paul

---UPDATE---

Found this Link which details, how to claim back tax from Canadian goverment for Short term accomadtion, and Good purchased over there, seems to be a lot of things you can't claim tax back for, but Accomadation is big part of any holiday, so worth checking out ! I am planning to travel around canada for about 5 weeks next year, so hopefully this will save me a packet !!

http://www.cra-arc.gc.ca/E/pub/tg/rc4031/rc4031-e.html

oglets

HSBC have free cash withdrawals on their plus account (12.99pm, or 9.99 for 6months current offer). do you think they give a poor exchange rate to compensate? (although they charge for this account)

would i still be better to get a nationwide account?

oglets

cliver029 wrote:

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

saw those in a travel agents recently. it was thomas cook or going places i think (sorry, there are 3 on that street)

smevans

And am wondering if its worth me waiting until I get out there and just use my Nationwide Flexaccount debit card to make transactions / ATM or would I be more wise to exchange out here before I go ?

pin

smevans wrote:

And am wondering if its worth me waiting until I get out there and just use my Nationwide Flexaccount debit card to make transactions / ATM or would I be more wise to exchange out here before I go ?

Take maybe £20 - £20 worth of Euros just in case, however I'm pretty sure you can get money out at Barcelona airport when you arrive.

I've done it many times where I have headed to a country without any local currency and just got it from the airport ATMs.

smevans

pin wrote:

Take maybe £20 - £20 worth of Euros just in case, however I'm pretty sure you can get money out at Barcelona airport when you arrive.

I've done it many times where I have headed to a country without any local currency and just got it from the airport ATMs.

Yeah I reckon thats prob a good idea. Wont need Euros until I get there anyway so will just hunt an ATM down..

pin

smevans wrote:

Yeah I reckon thats prob a good idea. Wont need Euros until I get there anyway so will just hunt an ATM down..

Remember Visa website has an ATM checker, so you can check to see the ATM situation at the airport (although I reckon you should be fine).

smevans

pin wrote:

Remember Visa website has an ATM checker, so you can check to see the ATM situation at the airport (although I reckon you should be fine).

Didnt know that but thanks

Jake'sGran

benoz2000 wrote:

It would appear from the article that Nationwide provide the best credit card for overseas transactions, but where they fall down is the interest charges even if the balance is repaid in full immediately.

If I pay a large amount onto my credit card before leaving the country, and then spend this, (like charging my credit card before use). Would this avoid there high interest rates?

Thanks for any help

I always use my NW credit card for paying hotel bills and they never charge interest. I always pay in full every month. I had a problem on the Costa delSol in October when paying the hotel (subject of an earlier post) and was advised on here to take it up with NW but in any event the hotel offered to put the matter right. I had told the receptionist very clearly that I wished to pay in Euros but the bill was put on card in Stg. Not a lot of money involved, just the principle of the thing. I am very surprised to read that the NW charged interest. Have you made a mistake there? did you take it up with them? They advertise no charges as an advantage of the use of their cvard in Europe.