Lastminute Travel Card - really cheap foreign money

Han_naH

I acquired a Lastminute.com Maestro travel card, and paid the initial £6.99 fee. No ongoing fees.

Remember to use in Maestro outlets, and not in ATM machines (fees apply).

I just checked my transactions after a trip to The Netherlands.

The rates are identical to xe.com (i.e., no shift to favour the card provider), and only 20p per use - much better than £1.75/£2 by withdrawing cash.

I also like the way my current account isn't littered with foreign exchange transactions. Instead they are all contained in this card statement, viewed online.

And I can top up the card using their site, or when abroad using an internet kiosk. This is good for long stays abroad.

Very convenient for rail ticket machines, and high street shops abroad.
Also, ski hire, ski pass, and your accommodation can all be paid with Maestro.

Lastly, this is much safer than carrying cash - it will cost you nothing if dropped, stolen from your hotel room, or taken by force because without the PIN it is useless of course.

I think Martin should add this to his list of travel card favourites.

Excellent!

tom188

Still more expensive than nationwide though.

cifpower

There is an annual renewal fee of £4.99

Geebsie

When you say "maestro outlet", is this like a post office or bank rather than a standalone ATM machine?

King_Of_Fools

Geebsie wrote:

When you say "maestro outlet", is this like a post office or bank rather than a standalone ATM machine?

I think they mean a shop that accepts Maestro as a debit card payment.

Biggles

According to LMC's website, their T&Cs say there is a foreign transaction fee of 2.75%, plus an ATM cash withdrawal fee of £1.50 (on top of any local ATM charges).

Sounds about the same as any credit card (Nationwide and some others excluded), except for the unfortunate fact that you have to load it up with cash beforehand.

Not a good idea.

Han_naH

No don't use the LMC for cash withdrawal - as pointed out this is the same as any other card.
Open your eyes Biggles and read, I pointed out not to use for cash.
I also pointed out that I have looked at my statement and the only fee is 20p. Your post is an entire distraction from the point here: use this card for Maestro and it is cheap.

Nationwide may be cheaper but they rejected my application, so I can't use them.

Maestro outlets are ticket machines, shops etc where you make a debit card transaction.

I can't see any reference to an annual fee in the T&C.

Thanks all.

PBA

There isn't an annual fee, but they do charge £4.99 for replacing the card on expiry (which is after 12 months, so effectively an annual fee but hidden in small print), or if it's lost or stolen. They even have the cheek to charge £4.99 when you decide to cancel the card!

Given that the transaction charges are much the same as using any bank debit card, the only people I can see needing this card are people with basic bank accounts with no debit card.

Han_naH

In the case of my bank - LLoyds TSB:

"When you make a purchase (not a cash withdrawal) abroad or in a currency other than sterling – we will charge you £1. This fee will also apply to internet or home shopping card purchases that are not made in sterling. "

So it costs £1 per time, five times as much as LMC's 20p.

One has to consider the no. trips abroad and average transactions per trip.

For example - 4 trips, 5 Maestro transactions each trip: £20 in charges with your debit card. Same using LMC is £4. Even after an annual fee this card is less than half price in charges per year.

Also, if spending longer periods abroad, this card will save you money.

A friend of mine is off to Korea for six weeks - living and working. Can you imagine Maestro in the supermarket etc at £1 a time? No way.

Lastly, note above - if you are buying something on the internet in Euros or Dollars, use this card to ensure the transaction is 20p and the foreign exchange is exactly the same as xe.com, to save money. Combine with purchases of US items (for example I bought Tshirts from CafePress.com - no VAT) with the pound/dollar exchange and you can make big savings. MS Vista anyone?

King_Of_Fools

Or you could just get the Nationwide card and save the 20p per transaction too!

thesaint

leejp wrote:

In the case of my bank - LLoyds TSB:

"When you make a purchase (not a cash withdrawal) abroad or in a currency other than sterling – we will charge you £1. This fee will also apply to internet or home shopping card purchases that are not made in sterling. "

So it costs £1 per time, five times as much as LMC's 20p.

One has to consider the no. trips abroad and average transactions per trip.

For example - 4 trips, 5 Maestro transactions each trip: £20 in charges with your debit card. Same using LMC is £4. Even after an annual fee this card is less than half price in charges per year.

Also, if spending longer periods abroad, this card will save you money.

A friend of mine is off to Korea for six weeks - living and working. Can you imagine Maestro in the supermarket etc at £1 a time? No way.

Lastly, note above - if you are buying something on the internet in Euros or Dollars, use this card to ensure the transaction is 20p and the foreign exchange is exactly the same as xe.com, to save money. Combine with purchases of US items (for example I bought Tshirts from CafePress.com - no VAT) with the pound/dollar exchange and you can make big savings. MS Vista anyone?

I have now committed this to memory.