Withdrawing cash in europe question

Bob_the_Saver

SaveTheEuro wrote: »

I use a Santander zero debit card at ATMs abroad and there are no charges at all. I know of no cheaper way of converting sterling into euros.

Same as the Metro bank card then, (Except we don't get Santander's 'famous' levels of customer service :eek: and we do get free dog biscuits in the branches (I'm still not sure why). :think:

SaveTheEuro

Bob_the_Saver wrote: »

Same as the Metro bank card then

And Norwich and Peterborough too.

Bob_the_Saver

SaveTheEuro wrote: »

And Norwich and Peterborough too.

With so many of the damn things why on earth do people pay to withdraw their own money?

totallybored

Bob_the_Saver wrote: »

Same as the Metro bank card then, (Except we don't get Santander's 'famous' levels of customer service :eek: and we do get free dog biscuits in the branches (I'm still not sure why). :think:

Don't forget the free pens and sweets too:D

Bob_the_Saver

totallybored wrote: »

Don't forget the free pens and sweets too:D

I was going to add that but I was too busy laughing (I was looking at the Facebook share price!)

skint_chick

Bob_the_Saver wrote: »

Same as the Metro bank card then, (Except we don't get Santander's 'famous' levels of customer service :eek: and we do get free dog biscuits in the branches (I'm still not sure why). :think:

I have a Halifax debit card and a Santander Zero debit and credit too and actually have to go against the popular view that Santander's customer service is terrible - I find it frustrating for savings - but my credit and debit card customer service have weirdly been really great. I'm lazy and cheap and don't like ringing the Halifax to tell them I'm going abroad but with Santander you can send a secure message to let them know you'll be using your card abroad. Maybe I'm just an easy customer to deal with as I only use the card on holidays - although I do have a LOT of holidays:D - and I always pay my credit card bill in full etc so I don't have anything really they can mess up.

It's definitely the cheapest way to get your Euro's as long as you take as much as possible and plan your budget beforehand so you don't end up e10 short of a good night out:beer: I always keep a few euro of change for my next hols so I can grab a drink when I land but I've yet to go to an airport that doesn't have an ATM and I've been on a lot of Ryanair flights to tiny airfields in the middle of the countryside!

GooliesOfFire

cue wrote: »

Sterling to Euro and the bank is Santander, which i know charge a fortune to withdraw money using a debit card via an ATM.

I' thinking Travellers Cheques may be the best route as i'm going in a week and a half and don't have enough time left to apply for a new account...

Any thoughts?

If you don't have time to apply for a new account then there is not much you can do except getting some Travellers Cheques and cash (Euro). And don't exchange cash in places like i.e. Airports as they usually charge more.

If you have about 4 weeks before you travel then I suggest you open an account with N&P Building Society and get their Visa Debit Card. They don't charge any fees nor commission for using card overseas and basically you get as much Euros from your GBPs as they are worth on the day you withdraw or pay in shops abroad.

These days I take only some cash and N&P Visa Debit Card abroad (+ some other Visa cards just in case). Last month when I was spending money in South Korea it felt a bit like spending money in the UK :T, obviously I got carried away and bought more stuff than I needed :A.

Just keep in mind that some ATMs in Europe may charge you their own fees. And also Travellers Cheques may not be accepted in many places.

benjus

GooliesOfFire wrote: »

If you don't have time to apply for a new account then there is not much you can do except getting some Travellers Cheques and cash (Euro).

See my earlier post above. If the airport has a TravelEx branch (or if you have one nearby) you can get a prepaid card at very short notice.

Also - even if you have an ordinary debit card (i.e. not one that's specifically recommended for use abroad) it's still likely to be cheaper to use your card abroad than to get cash or Travellers Cheques on the high street or at an airport.

Chickabiddybex

My advice is to use an ATM.
I'm with Natwest and I went to the postoffice to get some Euros.
Not only did I lose money on their lousy exchange rate but Natwest actually charged me for it (I put my card in the terminal and asked for my Euros and I got them and for some reason as it's classes as buying money they're allowed to charge... I digress!)

When I was actually in Europe (Rep of Ireland) I used an ATM and got a fantastic exchange rate and was only charged £3 commission and £2.50 for using my card abroad.
This £5.50 was a huge saving on what the Post Office took from me with their lousy exchange rate.

I feel I should point out that all "commission free" places have lousy exchange rates not just the Post Office - in fact theirs was the best deal in my area.

In conclusion - take your debit card abroad with you and withdraw as much as you can as infrequently as you can.

benjus

Chickabiddybex wrote: »

My advice is to use an ATM.
I'm with Natwest and I went to the postoffice to get some Euros.
Not only did I lose money on their lousy exchange rate but Natwest actually charged me for it (I put my card in the terminal and asked for my Euros and I got them and for some reason as it's classes as buying money they're allowed to charge... I digress!)

When I was actually in Europe (Rep of Ireland) I used an ATM and got a fantastic exchange rate and was only charged £3 commission and £2.50 for using my card abroad.
This £5.50 was a huge saving on what the Post Office took from me with their lousy exchange rate.

I feel I should point out that all "commission free" places have lousy exchange rates not just the Post Office - in fact theirs was the best deal in my area.

In conclusion - take your debit card abroad with you and withdraw as much as you can as infrequently as you can.

Debit cards typically take a cut of 3% - 5% from the spot exchange rate, which is generally better than the Post Office's walk-in rate. However, you can get the cut down to 1.49% with very little effort and forward planning by getting the TravelEx Cash Passport Globe card, and if you're a frequent traveller it's worth getting a special debit card which can get the cut right down to 0%.

There are some "Commission Free" Bureaux de Change that offer decent rates (around 1.5% cut - see the Travel Money Maximiser on this site) so not all "Commission Free" places are bad. The problem is that "Commission Free" is totally meaningless, as pretty much nobody charges commission for changing money and it's no guarantee of a good exchange rate.