Foreign Currency Question

former_student

Hi,

I'm travelling to Australia in September and I've been pondering how to deal with the currency issue. My Maestro card will charge me 2.75% on any transaction I complete in Australia which is a bit much. A friend recommended the "TravelEx Cash Passport Globe Card," does anyone know much about this? Is it a good option and where can I get one?

Thanks.

stilltheone

Here: Travelex Cash Passport Globe ordered via TopCashBack or Quidco if you have an existing account(with Quidco).

Better still if you leave near London pop in to Metro Bank. Their debit and credit cards are the best.

Piggo_2

We always end up using our debit cards overseas. The fee is similar to yours, but the bank does the transaction at the wholesale exchange rate so when you calculate it in comparison to buying currency and using that it's virtually the same cost at the end of the day. Worth checking if this applies to your bank.

travellerboy

Get a Zero transaction fee card, like Santander Zero. No fees whatsoever, provided you pay-off in full at the due date. If you use for cash advance you only pay 8p/day per £100 withdrawn, cheaper than getting cash at Travelex or PO.

shaz77_2

I'm in a similar boat, is the santander or Maestor card the best option then?

stilltheone

travellerboy wrote: »

Get a Zero transaction fee card, like Santander Zero. No fees whatsoever, provided you pay-off in full at the due date. If you use for cash advance you only pay 8p/day per £100 withdrawn, cheaper than getting cash at Travelex or PO.

Your advice is written as if it is a good thing.

But in fact, anyone taking your advice could get stung for two months interest. Perhaps £4 per £100.

Not quite so attractive.

travellerboy

stilltheone wrote: »

Your advice is written as if it is a good thing.

But in fact, anyone taking your advice could get stung for two months interest. Perhaps £4 per £100.

Not quite so attractive.

You obviously you have never been abroad. In simple English pay a bill with your card NO fees will be charged, that's why it' called ZERO, understand. Yes it is attractive

Bri1

The Halifax Clarity credit card has no transaction fees, no conversion fees & no cash withdrawal fees, but does charge interest on cash withdrawals though at I think at 12.9%, the exchange rate given on your transactions appears always to be better than you can get for money exchange when I have used it, if you spend over £300 a month you also get a £5 bonus each month.

meher

former_student wrote: »

Hi,

I'm travelling to Australia in September and I've been pondering how to deal with the currency issue. My Maestro card will charge me 2.75% on any transaction I complete in Australia which is a bit much. A friend recommended the "TravelEx Cash Passport Globe Card," does anyone know much about this? Is it a good option and where can I get one?

Thanks.

The Travelex cash passport charges you one flat usage fee of 1.49% when used abroad, whereas Halifax clarity charges you nothing at all.

Martin's article on overseas spending credit cards and for the prepaid cards might give you better options.