Spending Overseas: The cheapest way to pay Article Discussion Area

dzug

Well you are going to lose the spread on the current exchange rate as soon as you put money on the Post Office card - I don't know what it is, but I'd guess 5% in line with their normal cash/TC rates. Plus the ATM fee when you use it.

That's a pretty big exchange rate movement for 2 months. I'd stick with the Nationwide

AndyMan

I bought my dollars ready to go to the USA, through Saga, good rate.

Long story, but I didn't go, now I'm holding loads of unspent dollars, losing through the exchange rate. Who offers the best exchange rate to change them back into pounds? Appreciate if anyone knows the answer? If I sell them back to Saga, I have to pay registered post, there's no site for the exchange rate back into pounds.

Thanks all

Andyman

Anaprop

I've recently had severe problems with using my Cahoot (on-line branch of The Abbey) debit and credit cards in the US. During my last 3 trips (from the summer onwards) I have frequently had my cards declined. I travel light, and only maintain one debit and one credit card. The credit card is only used for overseas business travel, mostly to the US.Initially Cahoot could not see a problem, but most recently they have conceeded that they no longer permit "signature authorisation". Given that chip-&-pin is not used in the US that means I am stuffed! So a change of cards is on the cards (pun intended)...

bai41

I am going to the USA in January can and i am looking to get a credit card for the trip. can anyone

a) say if it is better to have a Visa or Matercard

b) suggest the best card

c) say if it is worth opening a nationwide account just for the trip

many thanks:T

alanco_2

Does anyone know if its cheaper to take Sterling out here and use M&S to convert to Euros or to wait until I'm abroad and use my Nationwide card to withdraw from an ATM abroad?

I realise it all depends on the exchange rates offered, but am wondering if you generally get a better rate with Nationwide from an ATM abroad than for, say, Marks and Spencer's foreign exchange?

luci

You will definitely get a better rate from the N/W by using an ATM abroad.

diablodaz

What interest free credit cards have people used when they have gone travelling, I am after one preferably a 6 month or longer.

Thanks

Darren

Tarquinius

Hi,

Although I'll be making most of my purchases abroad (Euros) on my Nationwide Credit Card, I will need some cash, and I'm trying to figure out the cheapest way...

I could use my First Direct debit card to withdraw cash - I pay 1.5% cash withdrawal fee. But if I use it to withdraw cash, then do I also pay the 2.75% loading fee? i.e. am I in effect being charged 4.25% (1.5 + 2.75) if I use to withdraw cash? Or is it just the 1.5% (does the loading apply only to purchases?)

My other alternative is to use my Nationwide credit card for cash withdrawals. With that card I pay no loading, but I pay 2% cash withdrawal fee plus interest on the cash advance (which I estimate to be around 1% if I pay it off within 2 weeks). So that would mean a total fee of 2% + 1% = 3%.

Finally, I wonder if I could escape the interest charge on the cash advance by pre-loading my Nationwide credit card (i.e. paying money into the card before I withdraw it, to create a credit balance), but I'm not sure if they'll let me do this?

Any idea what I should do?

Thanks

dzug

Yes you would pay the 2.75% loading (it's 'commission' on the foreign exchange) as well as the 1.5%.

It's probably your best bet - you will pay about 5% to get cash here to take with you (yes there are cheaper places but they require you to visit a certain place to pay in cash or to pay with your debit card - which will incur the charges you are trying to avoid in the first place)

Sorry don't know about loading your NW CC in advance

hitsuzendo

Hi - I need to have approx £3,000 worth of yen in cash whilst in Japan, I'm going middle of next week. I have accounts with Lloyds so their debit card isn't a good solution with local ATMs, particularly as I'd have to make quite a few withdrawals given the card limit. Was looking at travelex but they are limited by card level as well. So is looking like the bank as their rate is better than the post office. Any ideas as to any better way to do this?

many thanks