Foreign Currency: How to get the cheapest article discussion area

Twigletto

Hi we are off to Morrocco, I understand that one can't take money out, so do we then have to run the risk of the airport?

eloisewl

I am so confused. I am going to Hong Kong in 19days for nearly 2 months and do not know what is the best way to take my money..I applied for a Nationwide Flexaccount and was declined one (am looking into why because have had no problems with my Natwest as far as i know) and although I can appeal it will probably take too long and so I am left with the only choices of either taking a lot of cash to get the best exchange rate in HK (which is risky), taking money out of ATM but saw that Natwest are one of the worst banks for their expensive charges, or take traveller's cheques...

Does anyone know the best place to go for travellers cheques and will they come in sterling (as ive seen on many sites ive been searching) or HK dollars?

I'm also planning on travelling to thailand and tokyo in these 2 months so I really don't know what the best solution is in order to get the best deal.

Help?!

dzug

eloisewl wrote: »

I am so confused. I am going to Hong Kong in 19days for nearly 2 months and do not know what is the best way to take my money..I applied for a Nationwide Flexaccount and was declined one (am looking into why because have had no problems with my Natwest as far as i know) and although I can appeal it will probably take too long and so I am left with the only choices of either taking a lot of cash to get the best exchange rate in HK (which is risky), taking money out of ATM but saw that Natwest are one of the worst banks for their expensive charges, or take traveller's cheques...

Does anyone know the best place to go for travellers cheques and will they come in sterling (as ive seen on many sites ive been searching) or HK dollars?

I'm also planning on travelling to thailand and tokyo in these 2 months so I really don't know what the best solution is in order to get the best deal.

Help?!

Despite the charges the ATM is still likely to be the best route. Remember that 'commission-free' currency and TCs typically have a hidden 5% exchange rate fee built in.

You may find $HK TCs if you hunt around - but Thos Cook and the Post Office don't do them so you'd be stuck with sterling.

hushpuppy

Hi all,

Need some advice. In a couple of weeks time a bunch of us are driving from UK to Corfu via the former Yugoslavia (charity event).

I am the appointed treasurer so will be paying for all petrol/food/etc expenses.

I have a Nationwide CC that I was going to use, but I now wonder if I will be able to do so in all the Petrol Stations/Restaurants/B&B's etc. Also I am really concered about Fraud/Cloning especially as some of the countries I will be driving through have a terrible reputation for this

So someone suggested taking Euros and US$ instead. Or do I just use my Nationwide CC and withdraw money as I need it from ATM's?

Can anyone please advise as to the best/safest thing to do?

Regards

femigirl

Can anyone beat the US dollars exchange rate of $1.92,please let me

Poison_Ivy_3

dzug wrote: »

You don't know what the specific exchange rate will be, other than that it will be very close to the interbank rate. That rate will be 5 or 6% better than buying €€ cash or TCs in the average UK High Street outlet.

The flexicard rate will be the same for either cash or spending

As to getting cash locally, I don't know specifically about Crete but I doubt you can better NW. If you can get a better rate than that there then the shopkeeper is making a loss when he converts it himself - makes you wonder why he would do it if that is the case.

It's not a high inflation economy, so he won't want to hang onto the ££ to change later, and I wouldn't have thought there was a black market where he can get a better rate. Money laundering maybe?

No need to take any €€ but if you are worried about arriving without any and having to find an ATM in a hurry get a few for comfort.

We are heading to Cyprus on Wed 28th May for first trip abroad with kids. Opened Flexacount for this purpose planning to take small amount in euros, so far so good. But my parents saw a programme saying MAJOR problems occuring with cards being refused abroad, blocked by UK banks even when people informed banks beforehand they were going!! Mother in law also saw programme, now husband freaking out and wants to take all our money with us in euros in case we are stuck out there for a fortnight with two kids and no money. Can someone help - I don't know what to do

ps. I can see where the problem with telling banks you are going doesn't get communicted properly as I work in a bank and there are some real numptys in them, both branch and call centres. I wouldn't trust just telling them you are going abroad.

osmodia

In Cartagena, Spain last week. Barclays offered me 72 Euros for £60. About right I thought till they said there would be a commision of 9 Euros! Is that about 12.5% ?
Banco de Valencia a few doors down offered the same rate with ZERO commision. Bl++dy Barclays!