Best foreign money solution in just 5 days

ChimpanzeeUK

Turns out I'm a bit dim. I'm going to the States next Saturday and haven't thought to get my money sorted until now. I applied for a Halifax Clarity card (mainly out of curiosity) per Martin's travel money guide and was accepted but won't get the card for at least 14 days - I wasn't really expecting it to come any sooner but it will be handy for next time.

Anyway, I was wondering what the best way to get my travel money is in only 5 working days. Am I better off just using my HSBC debit/credit card? Should I just get all my money exchanged before hand? Will I be able to get a pre-paid card by Friday and are these even any better than using my existing card/cash?

Any advice to help me out of this self-made pickle would be greatly appreciated.

Thanks.

whatyadoinsucka

Hsbc usually give good rates close to mid price on currency, but charge a transaction fee, if you have an advance account withdrawals are commission free


International services
Worldwide cash withdrawals with a 2% ATM transaction fee (minimum £1.75, maximum £5.00), these transactions are subject to our foreign exchange charge of 2.75%

Wannie_2

whatyadoinsucka wrote: »

Hsbc usually give good rates close to mid price on currency, but charge a transaction fee, if you have an advance account withdrawals are commission free


International services
Worldwide cash withdrawals with a 2% ATM transaction fee (minimum £1.75, maximum £5.00), these transactions are subject to our foreign exchange charge of 2.75%

That's not right at all.

HSBC Premier still charges a 2.75% commission. They just waive the cash withdrawal charge.

Better is Travelex Cash Passport Globe. You can pick it up at the airport as long as it order it at least four hours beforehand. Make sure that you bank does not charge for the initial load. Some cards do and some don't.

According to a Moneysavingexpert article:

All credit cards and some debit cards, including Barclays, Lloyds TSB, Natwest, Santander & RBS, charge a fee.

Order via TopCashBack > Travelex > Globe card in order to save another 0.5% on your initial load.

So 1.49% commission, but with cashback, 0.99% commission. You won't find better at short notice, unless you live near a Metro Bank.

whatyadoinsucka

The rate page was cut from the hsbc site, I always find using my bank card always beats travelex / Thomas cook etc. The 2.75% commission is pretty much off the mid price, whereas travelex probably charge commission on the sell rate..

dzug1

whatyadoinsucka wrote: »

The rate page was cut from the hsbc site, I always find using my bank card always beats travelex / Thomas cook etc. The 2.75% commission is pretty much off the mid price, whereas travelex probably charge commission on the sell rate..

Travelex - for collection at the airport - is very roughly 2.75% at today's rates. They don't charge a commission - just load the rate

Though factor in a cash advance fee if your bank charges. HSBC don't.

ChimpanzeeUK

Many thanks for your advice everyone. I'll check my HSBC rates (I have a standard current account and credit card that I rarely use) and the Travelex card.

I notice there's also a Travelex Cash Passport (standard) option. Would this be better than the 'Globe' considering I'm using one of the 6 supported currencies? If I understand correctly, the standard (non-'Globe') card's only fee is the 2% loading fee - everything else (purchased and ATMs) is free.

Wannie_2

whatyadoinsucka wrote: »

The rate page was cut from the hsbc site, I always find using my bank card always beats travelex / Thomas cook etc. The 2.75% commission is pretty much off the mid price, whereas travelex probably charge commission on the sell rate..

Geez...don't people ever read through the links before posting?

HSBC debit card = 2% transaction fee plus 2.75% off the VISA/Mastercard rate.

Travelex Cash Passport Globe = 1.49% off the Mastercard rate.

Read through the links before writing about fictitious commissions.

Wannie_2

ChimpanzeeUK wrote: »

Many thanks for your advice everyone. I'll check my HSBC rates (I have a standard current account and credit card that I rarely use) and the Travelex card.

I notice there's also a Travelex Cash Passport (standard) option which offers free ATM withdrawals. Would this be better than the 'Globe' considering I'm using one of the 6 supported currencies?

No. it would not.

Wannie_2

dzug1 wrote: »

Travelex - for collection at the airport - is very roughly 2.75% at today's rates. They don't charge a commission - just load the rate

Though factor in a cash advance fee if your bank charges. HSBC don't.

Since this is a worse option than offered by the card...

Wannie_2

Once ordered, call through to the collection point and ask them to make you up a free extra card, in case you lose one whilst travelling.

Wannie_2

ChimpanzeeUK wrote: »

Many thanks for your advice everyone. I'll check my HSBC rates (I have a standard current account and credit card that I rarely use) and the Travelex card.

I notice there's also a Travelex Cash Passport (standard) option. Would this be better than the 'Globe' considering I'm using one of the 6 supported currencies? If I understand correctly, the standard (non-'Globe') card's only fee is the 2% loading fee - everything else (purchased and ATMs) is free.

Stick with the Globe if you want to avoid any nasty shocks. The standard £ card has a sting in it's tail.