FD debit card or Travelex Cash passport?

pimento

We're going on holiday to New Zealand in a couple of weeks. I was intending to buy a Travelex Cash Passport and load it with NZ$ and also take my VISA credit card with me BUT, I have just been pointed at a review site which gives the Cash Passport a terrible set of reviews from a customer service point of view and how hard they are to get hold of on the phone if you have a problem.

I called my bank (First Direct) to see what they would charge for using my debit card to withdraw cash and they said 2% with a minimum of £1.75 and a maximum of £5.00

Is that reasonable? I think it means I'd be better off making fewer and bigger withdrawals. I asked about the exchange rate for converting the NZ$ back to £ and they tried to put me through to the Foreigh Department but as it's a Sunday they were really busy and I was on my home phone on an 0845 number so I hung up.

What should I do? What's the best way of getting foreign cash? I don't really want to carry loads of dosh with me but £5 per withdrawal is quite a lot of money. I only have a fortnight so applying for a different card might not be possible.

Here is the link to the reviews. Most of them are scathing.

http://www.reviewcentre.com/reviews140874.html

Help!

benjus

First Direct didn't tell you the whole story - you will also pay about 2.5-3% on the exchange rate for all transactions, purchases and cash withdrawals.

I would recommend the TravelEx Cash Passport Globe card - this is a bit different to the other TravelEx cards - you load it up with pounds rather than foreign currency, and it converts as you use it - so it's much the same as using your debit card, but with lower charges (a flat charge of 1.49% on the exchange rate).

If you live near London you could also consider opening a Metro Bank current account, as this has no charges at all. You have to open the account in a branch, but you will walk out with the account fully active and the debit card in your pocket and ready to use.

pimento

What about their rubbish customer srvice if I have a problem with the card?

I don't want to move my bank account to Metro Bank. I'm happy with First Direct. Can I open an account with Metro without moving all my DDs and salary?

apt

Yes you can open a Metro Bank account without moving anything else or making regular monthly payments into the account. However, you do have to open an account in branch and they are all in and around London as the previous poster states.

pimento

.. and I'll walk out with a debit card that I can use that will cost no money to withdraw funds and all I will pay is the exchange rate?

Hmmm...

zagfles

pimento wrote: »

.. and I'll walk out with a debit card that I can use that will cost no money to withdraw funds and all I will pay is the exchange rate?

Hmmm...

Yes. And free dog biscuits apparently.

pimento

I've come to the sorry conclusion that one way or another, however you get your holiday money, they all charge about the same whether they make their profit in the commission or the rate or a combination of the two.

I'll be taking a wedge of currency and will use my credit card wherever I can. If I get stuck, I will use my debit card for more cash.

Thanks for all your suggestions.

zagfles

pimento wrote: »

I've come to the sorry conclusion that one way or another, however you get your holiday money, they all charge about the same whether they make their profit in the commission or the rate or a combination of the two.

Your "sorry conclusion" is very sorry, in fact completely wrong. They don't charge the same. nowhere near. MetroBank will save you almost 5% over First Direct. Halifax Clarity will save almost as much. Even the Travelex whatsit card will be under half the cost of FD. How do you think they pay for their excellent CS Still if you want to reward them with 5% of your holiday spends they won't object! I've had a FD account for over 20 years and haven't once used it abroad (in probably 40-50 trips) because they're a rip-off. But a handy backup if really desperate.

I'll be taking a wedge of currency and will use my credit card wherever I can. If I get stuck, I will use my debit card for more cash.

Thanks for all your suggestions.

Have a good holiday! You'd better do because you probably won't be able to afford another;)

pimento

What if I have a problem with the Travelex card? If I load it with New Zealand dollars and when I get to New Zealand it doesn't work, I'm stuffed. There would be no way of testing it before I go, would there?

I don't want to open a current account with Metro Bank because I assume they will do a credit check and I don't want one done.

I already have a credit card and I don't have time to apply for another even if I wanted or needed another (which I don't).

Can I trust the Travelex card? Would you?

zagfles

pimento wrote: »

What if I have a problem with the Travelex card? If I load it with New Zealand dollars and when I get to New Zealand it doesn't work, I'm stuffed. There would be no way of testing it before I go, would there?

I don't want to open a current account with Metro Bank because I assume they will do a credit check and I don't want one done.

I already have a credit card and I don't have time to apply for another even if I wanted or needed another (which I don't).

Can I trust the Travelex card? Would you?

I would never trust any one form of payment. I tend to use my Halifax Clarity for cash, my Nationwide CC for spending, with backup of a couple of other CCs and my FD and NW current accounts both of which have a big overdraft facility for emergencies.

benjus

pimento wrote: »

What if I have a problem with the Travelex card? If I load it with New Zealand dollars and when I get to New Zealand it doesn't work, I'm stuffed. There would be no way of testing it before I go, would there?

I don't want to open a current account with Metro Bank because I assume they will do a credit check and I don't want one done.

I already have a credit card and I don't have time to apply for another even if I wanted or needed another (which I don't).

Can I trust the Travelex card? Would you?

If you get a TravelEx GLOBE card ( http://www.travelex.co.uk/uk/cash-passport-globe.aspx ), as recommended above, you would be putting Pounds on it, not New Zealand $. So you could quite easily test it in the UK before you left, as long as you don't mind paying their small fee for UK transactions.


I don't know how these things are organized, but looking at the brochures for the TravelEx Globe card and TravelEx Currency Cards, it looks like the contact details for the two are different, so maybe they are handled by different customer service teams.


My ex-wife and children are overseas at the moment, and I've been using a TravelEx cash passport Globe card in her name to pay maintenance money. I load it onto her card via bank transfer, she spends/withdraws it. No problems so far.