Spending in Hong Kong

matthew8

Hi there all,

I'm a new member, but a long time visitor!

Would like to ask for some advice please? I am to leave for Hong Kong in about a months time. I did used to travel back and forth there, and used my Nationwide account to withdraw cash when I needed it. When they stopped offering free withdrawals abroad, I closed the account!

We are staying only for a few weeks. Don't really want to have myself a credit card, prefer a debit card. I have looked at the guide moneysavingexpert.com/travel/cheap-travel-money but just can't make my mind up.

I have a maximum amount of spending money (hard to predict budget for holidays I find), and could convert that (thanks to travelmoney.moneysavingexpert.com) but would rather not carry that much cash around for security reasons (or even leave it at the hotel).

Preferably, would like to take out lumps of money as and when we need it (ie. Maybe take 1 tenth of my budget out at a time over the holiday). Then I don't have to carry too much cash. I just can't get my head around what's best to do, and would really appreciate all your suggestions!

Thanks,
Matthew.

stilltheone

Metro Bank if you can come in to London or already live there.

Otherwise a PrePaid Mastercard is not a bad idea.

Travelex Cash Passport Globe ordered via TopCashBack or Quidco if you have an existing account(with Quidco) or Kalixa ordered via TopCashBack or Quidco if you have an existing account(with Quidco) if you intend to take out the maximum allowed each time and are likely to make purchases via the card.

Nick_Parry

Hi Matthew,

First time poster, long time lurker! I'm in a similar situation, going to Singapore and wanted a safe way of carrying cash. A mate of mine put me onto the Blue Sky Prepaid MasterCard. He paid a tenner for it but I found a deal on Money Supermarket where you get a £6 refund, so it would cost £4.

Not sure if it's the right one, I'll have to look into the overseas costs first. If you find any others, post them here and I'll do the same back.

Cheers,

Nick.

matthew8

Thanks for responses stilltheone and Nick

Is a prepaid mastercard as good and as widely usable as a prepaid visa card?

I like the travelex cash passport globe. You ask if I intend to take the maximum out and make purchases via the card? I can't see the fee for a withdrawal - it mentions only a 1.49% fee for each transaction. Are you taking into account the ATM fee that will be likely imposed (ie. minimising the number of those)?

I think a lot of my transactions will be done via cash really, so taking out 250 GBP lumps as and when needed will be the best way?

I have looked into the Blue Sky prepaid card Nick. Looks slightly more expensive (blueskyprepaid.com/terms-and-conditions.html#tc-section-12). 2.5% handling fee, and 2.00 for international ATM usage. Maybe have misunderstood though so do correct me if I am wrong.

I do have a CoOp account too. Wondering if for hassle sake it is worth just using that as MSE site classes that as bog standard. Thoughts?

Keep em coming guys

Thanks,
Matthew

stilltheone

matthew8 wrote: »

Thanks for responses stilltheone and Nick

Is a prepaid mastercard as good and as widely usable as a prepaid visa card?

I like the travelex cash passport globe. You ask if I intend to take the maximum out and make purchases via the card? I can't see the fee for a withdrawal - it mentions only a 1.49% fee for each transaction. Are you taking into account the ATM fee that will be likely imposed (ie. minimising the number of those)?

I think a lot of my transactions will be done via cash really, so taking out 250 GBP lumps as and when needed will be the best way?

I have looked into the Blue Sky prepaid card Nick. Looks slightly more expensive (blueskyprepaid.com/terms-and-conditions.html#tc-section-12). 2.5% handling fee, and 2.00 for international ATM usage. Maybe have misunderstood though so do correct me if I am wrong.

I do have a CoOp account too. Wondering if for hassle sake it is worth just using that as MSE site classes that as bog standard. Thoughts?

Keep em coming guys

Thanks,
Matthew

Look for the Mastercard ATM locator to answer your first question.


For large withdrawals I was referring to the Kalixa Card(perhaps you missed the link in my earlier post).

Decide which of the two would be better for your spending pattern.

stilltheone

Nick_Parry wrote: »

Hi Matthew,

First time poster, long time lurker! I'm in a similar situation, going to Singapore and wanted a safe way of carrying cash. A mate of mine put me onto the Blue Sky Prepaid MasterCard. He paid a tenner for it but I found a deal on Money Supermarket where you get a £6 refund, so it would cost £4.

Not sure if it's the right one, I'll have to look into the overseas costs first. If you find any others, post them here and I'll do the same back.

Cheers,

Nick.

Don't bother. The two I have mentioned are the best on paper.

matthew8

Thanks for clarifying

Can't get a metro bank card, so Prepaid Mastercard is the way to go - the Travelex one you have mentioned a fiver cashback (i have a regularly used quidco account). Is that based on the 1000 GBP funding of the card at 0.5% being a fiver cashback?

Just seen your post about kalixa card. Looking at it now!

In no way at all am I questioning your knowledge and contribution, but am wondering what your background is? Currency dealer, holiday agent? Or just a knowledgeable enthusiast? Of course your response is optional

Cheers
Matthew

matthew8

Hi stilltheone,

Have done a bit of maths, seems for my estimate of just 5 large-ish withdrawals of cash, and maybe 2 or 3 card transactions, the GBP 2.25 International ATM fee for Kalixa is better than 1.49% of TravelEx. It seems that using the card is FREE (kalixa.com/en-gb/Guest-Areas/About-Kalixa/Fees) - the card transaction fee is free. Looks like it costs nothing to use when inserting card into a terminal at supermarket etc. That's what I gather from it anyway?

Thanks again!

matthew8

Hi stilltheone or anyone!

Can anyone confirm that my understanding is correct? Using the Kalixa in shops, etc is free? No currency conversion charges - just the rate they give on their site (which seems quite good)? And any international atm is just the 2.25 they mention?

Cheers,
Matthew.

stilltheone

matthew8 wrote: »

Hi stilltheone or anyone!

Can anyone confirm that my understanding is correct? Using the Kalixa in shops, etc is free? No currency conversion charges - just the rate they give on their site (which seems quite good)? And any international atm is just the 2.25 they mention?

Cheers,
Matthew.

The rate they show on the website is the Mastercard rate. So as long as there is no skullduggery..
Don't forget that you have to pay £4.95 for the card, but if you go through a cashback website, you should get £7 back.
Do read reviews of the Kalixa card before applying, as I have no experience of the card other than reading the T&Cs.

I have no affiliation with any financial products. Just helping out.

barafear799

hi,

you mention Kalixa reviews - on the Top Cashback site, there is a link which takes you to 22 customer reviews - some of them are moaning about the cashback never coming - however, others are complaining about loading money onto card and it not showing up as available - others have said they applied and loaded up - and have yet to receive the card as yet....I'm struggling to find many other review sites on internet - anyone know of any problems with the Kalixa card/company???

Cheers