metro or fairfx?

vix2000

Having used nationwide flex for years I am now travelling to the euro zone for the first time since the t&c's changed. I do no want, and probably wouldn't get a credit card, so after extensive reading I think the metro or fairfx are probably the best options unless anyone can recommend different???

If this is the case, which out of the 2 would be the best? Thanks.

benjus

Metro is the cheaper of the two. I've used mine abroad several times and it's been very good. If you live in London or don't mind coming down here, I'd recommend that option.

vix2000

Not in London but my partner is there on thursday so thought while he's down there he could open an account. So you think its better than fairfx then? Actually I suppose you could take both.

glenderg

vix2000 wrote: »

Not in London but my partner is there on thursday so thought while he's down there he could open an account. So you think its better than fairfx then? Actually I suppose you could take both.

Having a plan B would be good practise.
Opening a Metro bank account is an enjoyable experience imo, just make sure he has all the relevant documents with him & the account will have to be his name.

dzug1

vix2000 wrote: »

So you think its better than fairfx then?

It has no charges. FairFx has some, albeit low. If that constitutes 'better' then yes.

Biggles

'Metro or Fairfx' is rather an odd pair to pick to compare.

Metro is a debit card that makes no charges. But then nor does Norwich & Peterborough.

Fairfx is a prepaid card that does make charges.

Also you have credit cards that make no charge, eg Halifax Clarity, Post Office etc.

To be honest, rather than faff around in London, I'd carry on using the Nationwide debit card. The charges are only slightly more than Fairfx, bearing in mind the latter charges for cash withdrawals and they 'use their own exchange rate' without disclosing how much they charge you.

ferf1223

Also have to remember that with Metrobank, the funds stay in your account in GBP until you make a withdrawal or purchase using the card - and then the exchange rate is calculated at that time.

With FairFX (if you mean the EUR card) you buy EUR at a set rate at the time of purchase.

So which is better may not be something that can be determined in advance as the exchange rates could be quite different (in theory).

We have both, but don't use our FairFX card anymore...if we thought for some reason there was going to be a dramatic exchange rate shift coming up which would see the rate go against us, we might load some onto the FairFX card, but we're not currency speculators, so unlikely we would make out like bandits.

Agree that opening a Metrobank account is a pleasant experience - I'm really impressed with them.

Baldur

Personal experience - I'd tend to use my Metro Bank Debit Card for any overseas transaction, especially as FairFX have now increased their Anywhere card's fees/charges; so I just emptied that.

Off to Dubai tomorrow, so it will doubtlessly have a bit of a bashing over the next couple of weeks.