Accessing money abroad

Ben9591

Hello all,

I'm heading overseas to Arizona for a training course which will last around 3 months during which time my salary will be paid into my bank account back in the UK (RBS).

I'm looking at credit cards as a means to accessing my money and I'd appreciate it if anyone has any advice/experience using a particular card in a similar situation. I've found a few cards that offer 0% interest and no charge on overseas' withdrawals - does anyone know what kind of an exchange markup they would use?

Alternative solutions are equally welcome!

Many thanks,

Ben

benjus

Have a look at this article: http://www.moneysavingexpert.com/travel/cheap-travel-money

The Halifax Clarity card is a good option because there is no exchange markup and no cash withdrawal fee. However, cash withdrawals are subject to interest from the date of the withdrawal so you would need to pay off the card quickly to avoid being charged.

You could also consider getting a new current account with a debit card with no charges (e.g. Metro Bank) - this would be completely free.

Remember that a lot of ATMs in the USA have their own charge for cash withdrawals which cannot be avoided.

chattychappy

And don't rely on any single card working reliably. CCs are very prone to getting blocked when used overseas.

Consider also Nationwide Select (if you qualify), Post Office, Santander Zero (if still available).

malc_b

benjus wrote: »

Remember that a lot of ATMs in the USA have their own charge for cash withdrawals which cannot be avoided.

When going on hols to USA check with this first to find the free ATMs near you. You need to tick the surcharge free and no charges AFAIR.

Ben9591

Thanks for your help. I think I'm gonna go for that Halifax card as the rates seem low enough that withdrawing cash won't generate too much interest by the end of the month for which I can set up a direct debit.

I also looked at the Sainsbury's Gold credit card which costs £5 a month but has the advantage of an interest free period after cash withdrawals the same as on purchases and includes family travel insurance. The only problem for me being a max single trip of 24 days!

Thanks again.

lisyloo

for which I can set up a direct debit

You could also pay it off much quicker especially if you have access to a properly secured office environment. By that I mean I presume you are at a company with a IT department that looks after the private PCs rather than going to an internet cafe.

The only problem for me being a max single trip of 24 days!

For this particular trip which appears to be business, does your employer not provide insurance?
I'm not sure holiday insurance would cover a business trip anyway, but I may be making a few wrong assumptions there??

chattychappy

lisyloo wrote: »

You could also pay it off much quicker especially if you have access to a properly secured office environment.

You can also use public WiFi on your own laptop. It is secure because of both ends (web server/browser) setting up encryption.

This is what I have been doing for years as I spend long periods overseas and operate all my accounts this way.

I personally prefer not to use PCs used by others - be they overseen by an IT department or not.

For a trip of 3 months, I would regard it as essential that the OP has a way to check accounts whilst away. Leaving it all to DD is perilous. (Not sure if that is what's intended.)