MSE News: Boost for Barclaycard holders on overseas cash

chattychappy

Can't answer all of your question but as I've lived in and/or travelled to VN every year since 1996, I feel I should chip in.

For the most part, only posh hotels and airline offices will take credit cards without a surcharge. Elsewhere, CCs are not generally accepted and when they are it can be quite a palava and perhaps subject to a fee. Touristy places might advertise USD pricing, but you can always use VND. GBP can easily be changed in VN. So it is never worth buying USD before you go. Just get cash from ATMs or take GBP and change the cash on arrival. (Best to take clean, untorn £50 notes.)

ATMs always charge a fee, usually a fixed fee. This is not significant (£1 or less). I prefer the citibank machines - they seem to give the least trouble and are often airconned. HSBC machines generally seem to work too. BUT do get used to the currency. Eg VND5M is around £150. Easy to get confused when making a withdrawal and only, say, withdraw £15 (which can still go a long way, but makes the fixed charge disproportionate).

I'm very comfortable walking around with cash in VN. But if you are a tourist, be careful as pickpockets target tourist locations. The most common form of theft is guys on motorbikes that snatch cameras/handbags as you walk down the street.

If you take cash and change it, go to proper bureau-de-change or banks. The great thing in VN is that the tradition is NOT to charge any commission or fees. The rate displayed is the rate you get. Often this is close to, or even better than the rate you get on an ATM withdrawal (especially if you haven't got a fee-free rate). City centre places all have very similar rates. If changing cash in Saigon, I often use the place on the corner of Dong Khoi/Nguyen Thiep street. It might spook you - looks a bit shabby - but these people are very straight IME.

bigadaj

Just wondered what you might get on the exchange rate. I've had a moan at nationwide and visa ( as they say only the other one can respond) as I took out a hundred quid in ghana when I was working there. The nationwide fees are separate but the visa exchange rate was some ten to fifteen per cent worse than the spot rate on xe or similar websites, I understand that you don't get the spot rate but that level of discrepancy seems excessive to me.

RRRRodgA

bigadaj wrote: »

Just wondered what you might get on the exchange rate. I've had a moan at nationwide and visa ( as they say only the other one can respond) as I took out a hundred quid in ghana when I was working there. The nationwide fees are separate but the visa exchange rate was some ten to fifteen per cent worse than the spot rate on xe or similar websites, I understand that you don't get the spot rate but that level of discrepancy seems excessive to me.

On Credit Cards they will generally use the Visa or Mastercard rates from their associated websites.

Visa see here(Europe)

Mastercard see here

Mastercards rates I've found are generally very close to the true exchange rate.

bigadaj

RRRRodgA wrote: »

On Credit Cards they will generally use the Visa or Mastercard rates from their associated websites.

Visa see here(Europe)

Mastercard see here

Mastercards rates I've found are generally very close to the true exchange rate.

That's what I thought and applies to major currencies, however they seem to screw a much bigger charge from less known currencies. The ATM was standard chartered so whilst they would expect a fee were talking about a uk listed multiple billion multiple national, not some provincial bank.

Can't see Ghanaian cedes listed on any visa site, so can only compare against xe and similar websites. Specifically xe quoted 2.95 and my statement details 2.65 excluding nationwide costs.

Pincher

Got back from Paris.

Used my Nationwide Select credit card quite a few times. No handling fee extras. On 9th June, I was getting £1 = EURO1.234 .

Can't complain. Very good, in fact.

chattychappy

Now used Select in Germany, Switzerland, Hong Kong, Taiwan and Vietnam (only once). No blocks so far and exchange rate as expected.

(PS I never tell CCs where I'm off to. I'm getting rather superstitious about such formalities!)