Travel Money Maximiser Discussion Area

lswwong

Big thanks to MSE again for a great tip and free tool!

Discovered that there is a branch of Thomas Global Exchange near where I live (central London). Nipped in this morning to buy some Euros (with £ cash) and got a great deal.

I have seen the shop before but it never occured to me that they are that good. Thanks to MSE for pointing it out.

dzug

charlieheard wrote: »

The mother-in-law showed me a brochure yesterday from the Post Office about their credit card, which has a fee of 0% for foreign transactions. Funnily enough, she said the lady behind the counter at the PO recommended it :rolleyes:

No idea what the loading is on the exchange rates, but is this a suitable card?

Yes it is. The 0% IS the loading on foreign transactions. (This refers to their Mastercard - not the prepaid card which is an entirely different product)

Stuart_R_2

I always spend a great deal of time completing research to ensure I obtain the best possible rate of exchange for my travel money, I have found a company that seems to beat them all.

http://www.travelmoneyservices.co.uk/index.asp

If you are in a position to buy your travel money well in advance you get great rates of exchange, I bought USD for use in April, I ordered these in November and got the rate of 2.14, this is great compared with todays rate.

Well worth a look if your funds allow.

charlieheard

dzug wrote: »

Yes it is. The 0% IS the loading on foreign transactions. (This refers to their Mastercard - not the prepaid card which is an entirely different product)

Thanks - I meant the spread between the bid and offer prices - is this any different to normal M/C rates to recoup some of the costs?

dzug

charlieheard wrote: »

Thanks - I meant the spread between the bid and offer prices - is this any different to normal M/C rates to recoup some of the costs?

The rate is set by Mastercard - so no, it's no different

NessyNoo_3

Hey all,

Can anyone tell me my best option for travel money when I go to New York in February. I tried to open a Nationwide current account for their debit card but got declined!! I am going with my bf and we will be taking at least £2000- what's the smartest way of doing this? I'm a little lost!

dzug

NessyNoo wrote: »

Hey all,

Can anyone tell me my best option for travel money when I go to New York in February. I tried to open a Nationwide current account for their debit card but got declined!! I am going with my bf and we will be taking at least £2000- what's the smartest way of doing this? I'm a little lost!

Do you have ANY credit or debit card?

If so, use your credit card for as many purchases as possible and pay it off when you get home.

For cash, it's a bit more complicated. Your debit card will be the best bet IF it only charges the 2.75% exchange rate loading with no additional fee. If it charges an extra fee, cash at Marks and Spencer is probably the best bet - at least amongst those places easily accessible.

NessyNoo_3

dzug wrote: »

Do you have ANY credit or debit card?

If so, use your credit card for as many purchases as possible and pay it off when you get home.

For cash, it's a bit more complicated. Your debit card will be the best bet IF it only charges the 2.75% exchange rate loading with no additional fee. If it charges an extra fee, cash at Marks and Spencer is probably the best bet - at least amongst those places easily accessible.

Thanks for your help. As you can see from my siggie- a credit card is out of the question. I have an Abbey debit card and a new A&L debit card. Do you happen to know which one is better? Or would it work out cheaper as you say to get cash at M&S. I'm a bit dubious at carrying that amount of cash though?

dzug

Both the Abbey and the A&L charge a fee.

Maybe travellers cheques are the safer answer in your circumstances - at M&S they will cost a trivial amount less than cash. Don't buy more than you will spend - they cost a bomb to change back.

Pay for them with cash - not your card.

It's not the ideal solution - but probably the best for you.

Delphi_2

Need US dollars and the best rate on the checker was Thomas Global Exchange $1.945 / £1 but only available if you can collect from West End of London - I can't as I dont live there !!

Bought at Travelex to pick up at the airport for $1.915 / £1 (used correct card so no %'s to pay). If you check Travelex's small print they do a price match gaurantee !! Claimed the difference between Thomas Global Exchange and Travelex and 5 days later a cheque for £16.05 arrived through the post from Travelex's customer services dept.

Best rate and I can pick up from the airport on the day - no hassle !