Foreign Currency Checker?

thefirs

How does it the flexaccount stand up on US rates?

Sorry I've no experience of the $ situation but if you read Martin's foreign exchange article then you will have a better idea. Although from what he says the NWBS exchange rate will be the best around, the cash machine situation may need to be watched carefully:

Charge III. Overseas Bank Cash Machine Charge (debit and credit cards)

Many banks overseas, especially in the USA, charge an additional fee for withdrawing cash. Little can be done about this, except try a few different banks to see if the charge varies

I assume when using abroad the account needs to be in credit and there are no charges at all .
Thanks in advance.

Yes, in credit or within overdraft limits (you'll typically get a cheap overdraft limit of half the monthly deposit). There are no fees such as the £1.50 - £2.50 fees imposed by most banks per transaction. The rate difference as quoted above gives up to 2.75% extra advantage over the rate offered by lots of banks.

JC4LAB

If changing your money here before you my guess is to shop around for the "special"offers you see advertised in the travel agent windows..You can get really stung changing money abroad..The travel agents here all compete with each other.withno charges etc but abroad there are all sorts of minimum charges etc..they could easiliy be 18% as I found in Europe..its not just rates but these charges to be aware of..Depends which part of the world you are in and if you have much say anyway.A lot of currencies you cant get here and you get your currency on arrival...is it going to be worth losing time looking around for good local deals when you should be enjoying yourself doing other things..its hard enough finding your hotel again in some places where no one speaks english..paying by creditcard will sometimes give the best rate .I dont think there is one full answer to your question as every country is different plus there is the security issue..what happens if you get pickpocketed etc..hence the AMEX Travel cheque ads..! speak only from travelling abroad many times and being robbed too

alared

I entirely agree about everything said about the benefits of the Nationwide card.
Please correct me if I`m wrong,but when you use your card in, say Spain,and withdraw 500€,you DO NOT know the rate you are getting until you later receive a statement.
Is this correct.

Fortyfoot

alared wrote:

I entirely agree about everything said about the benefits of the Nationwide card.
Please correct me if I`m wrong,but when you use your card in, say Spain,and withdraw 500€,you DO NOT know the rate you are getting until you later receive a statement.
Is this correct.

Correct!

Fortyfoot

shellybobs wrote:

How does it the flexaccount stand up on US rates?

I have just got this reply from Nationwide

"You can withdraw up to £300 a day in local currency subject to available funds. You have access to any of 750,000 cash machines world-wide displaying the Nationwide, LINK, VISA or CIRRUS symbols. We do not charge for using cash machines or to purchase goods, but the machine provider may make a charge over which we have no control."

Fortyfoot
:cool:

shropslad

How can you overcome the charge placed on your debit card when you pre-order currency from Travelex? If you pay by cash at the desk they charge a different rate and also charge commission.

Nickyork_2

I think post office is best! Its also cheaper to get the currency at abroad.

alared

Please look back at earlier posts.
Today at Trevalex online the rate to buy the € was 1.4151.
The post office was 1.3858 a difference of 3cents.
There is no commission at travelex online,you pay with your debit card and pick the money up at the airport the day of travel.

shropslad

Yes but the problem with paying Travelex with you debit card is you then get stung 1.5% by the bank who issues your debit card. Therefore, it is just as well sticking to the post office as they do not change their exchange rate if you pay by cash or debit card.

alared

shropslad wrote:

Yes but the problem with paying Travelex with you debit card is you then get stung 1.5% by the bank who issues your debit card. Therefore, it is just as well sticking to the post office as they do not change their exchange rate if you pay by cash or debit card.

My bank (Halifax)do not charge for using a debit card to make an online payment.
I can`t see that others do either it`s just the same as making a purchase for any other goods.