How to buy travellers cheques or foreign currency

pin

kooger21 wrote:

Hi ya people im going to Cyprus on the 30th so i need some cypriot pounds in cash, could i trouble someone to let me know the very best deal to exchange sterling for cypriot pounds

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.

kooger21

So if i apply for a FlexAccount and get the debit card this is the best way for me to get cash at my destination - in my case cyprus??

Somone did mention "but watch out for Dynamic Currency Conversion" - not sure what this is? could someone explain please?

Thanks

pin

kooger21 wrote:

So if i apply for a FlexAccount and get the debit card this is the best way for me to get cash at my destination - in my case cyprus??

Somone did mention "but watch out for Dynamic Currency Conversion" - not sure what this is? could someone explain please?

Thanks

Two second google search:

http://www.nationwide.co.uk/mediacentre/PressRelease_last.asp?ID=751

peterdowd

I have both a credit and Debit card with Nationwide.

Two examples:
Recently in Italy in July both purchases and cash machine gave exchange rate of £1 = 1.463 euros No extra charges

Bought train tickets for Malaysia with Nationwide Credit Card. Exchange rate
£1 = RM 6.9458 No extra charges

Beat that if you can!!

Nomoneybags_2

If you buy euros from PO do not use a Barclay connect card as they charge you for using your money?

tobys_mummy_2

i went on holiday and i have about 300 euros left over. where can i get it changed back to pounds?

pin

tobys_mummy wrote:

i went on holiday and i have about 300 euros left over. where can i get it changed back to pounds?

Most exchange places will change back, however you will be hit by a poor rate.

Why not keep it until you go to Europe again?

Other alternative is if someone you know is going to Europe, you could exchange the money with them at a decent rate.

pin

Have just updated my foreign money 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) / Nationwide Credit Card or the Audi 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. 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 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.

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 Curreny 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 convinient) - 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 priviledge of using money exchange services.

Here are links to ATM locators: VISA and MasterCard

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!!

gdap

Hi,

I have a reasonably large amount of euros which I need to convert back to spend here (I don't have the option of waiting until I next go back to the country.) Waiting until a friend goes over isn't really an option either.

Where's the best place to change these euros -> pounds?

Thanks.

robbies_gal

has anyone used crown exchange online they seem to have the best rate atm