Travel Money Maximiser Discussion Area

rebl43

Hello, I am getting a bit confused (again!) about the method of payment I should use for my holiday to New York, so I have a few questions:
I am going in June and am just about to book the hotel via hotelconnexions and read somewhere that it was best to use a Nationwide card. Why is this? Is it a debit card or credit card?
Also, should I take cash or pay with my credit or debit card?
I have so much to learn!!

rebl43

rebl43 wrote: »

Hello, I am getting a bit confused (again!) about the method of payment I should use for my holiday to New York, so I have a few questions:
I am going in June and am just about to book the hotel via hotelconnexions and read somewhere that it was best to use a Nationwide card. Why is this? Is it a debit card or credit card?
Also, should I take cash or pay with my credit or debit card?
I have so much to learn!!

Anyone? Sorry to bump this but I really want to get the hotel booked!:o

kaydee

[FONT=&quot]I was looking for foreign exchange on the site and was also googling about when I found these people -[/FONT]

[FONT=&quot]http://www.travelmoneyservices.co.uk/content/euros.asp[/FONT]

[FONT=&quot]They only deal in Euros, dollars – US, Canadian, Aus and NZ!![/FONT]
[FONT=&quot]Their euro rate today is 1.3225 which is a whole .0025 better than the ‘best’ figure you show![/FONT]
[FONT=&quot]They have a minimum of £500 but that includes ‘free’ Royal Mail Special Delivery, so could well be of use to people who can’t get into London for the other best rates.[/FONT]

shoppaholic_returns

yes I m looking for the cheapest place non london based to buy £600 approx euros from/ maybe more ?? any more ideas as martins calculator is down for most companies, thanks

M4RKM

rebl43 wrote: »

Anyone? Sorry to bump this but I really want to get the hotel booked!:o

hotelconxions charge in US$ rather than £.. so nationawide and postoffice cards don't charge an exchange rate fee. thus making it slightly cheaper (by about 2.75%)

M4RKM

https://www.no1currency.co.uk - some of the best exchange rates around, beats post office, and marks and spencer..

the local "cheque centre" is where they are based, and there are plenty around the UK

kaydee

Sorry Markymoo - there are only 2 offices in the London area, 2 in the South East and 4 in the whole East Anglia - not quite 'plenty'!.
TravelMoneyServices www.travelmoneyservices.co.uk are still a better rate than no1currency at the moment -
1.3225 against 1.302 for Euros, 1.9205 against 1.895 for US Dollars,
and that includes secure signed for delivery to your door, and it's a Freephone call!
OK there is a £500 minimum, but any left overs still keep to the next holiday!!

ps And by the way I don't work for them or get commission!!

Anne_Elize

Does anyone know if there is there a site anywhere that lets you find out how much host countries charge for ATM withdrawals or do you need to contact the overseas banks individually? Even with a Nationwide debit card ATM costs could mount up.

jago25_98 wrote: »

Share your experiences with foreign withdrawals worldwide.

How do people buying houses abroad generally transfer money - BACs? If so how is that rate governed?

An simpler way to compare is to just see how much you spend and how much you get.

I will be applying for a Nationwide account purely for foreign spending when I get back. I think I better close an account when I get back though as that would mean 3 current accounts otherwise; bit of a liability!

M&S CreditCard & M&S Bureau combo should be highlighted. I still perfer to take a little foreign cash before leaving.

kaydee

Anne_Elize wrote: »

Does anyone know if there is there a site anywhere that lets you find out how much host countries charge for ATM withdrawals or do you need to contact the overseas banks individually? Even with a Nationwide debit card ATM costs could mount up.

If you read this release below, Nationwide are saying that the charges will not mount up.

This is copied from a very recent Nationwide release -
WINTER HOLIDAYMAKERS URGED NOT TO BE LEFT IN THE COLD WHEN USING CARDS ABROAD
Over £70 million lost by holidaymakers in unnecessary bank charges last winter
Nationwide Building Society is urging winter holidaymakers not to make the same mistake as last year and to instead avoid unnecessary bank charges. Last winter over £70 million* was paid to card providers in foreign usage fees. People heading abroad for a city break or a skiing trip should make the switch to one of Nationwide’s credit or debit cards, that all offer free card use abroad, and enjoy savings of up to £81** on the average holiday.
Nationwide’s free card use abroad has already saved holidaymakers millions of pounds. Last summer, Nationwide credit card customers alone were nearly £6.5 million better off.
Nationwide’s credit and debit cards save people money and are a convenient way of spending abroad. There are now more than 20 million VISA outlets across the globe, including shops, restaurants, hotels and car hire companies.
With 24 hour access to over 855,000 VISA ATMs worldwide, Nationwide’s cardholders have easy access to their money. Holidaymakers do not have to exchange money prior to travelling and can avoid the hassle of exchanging travellers’ cheques. Nationwide is the only current account provider not to charge its customers for using their debit cards in ATMs abroad and therefore offers a free and easy way of withdrawing cash.
Jeremy Wood, divisional director at Nationwide, said: “Whilst recovering from the big Christmas spend, those planning to go abroad this winter should be aware of the hidden charges that most card providers impose which people can ill-afford at this, or anytime of the year. Anyone using a Nationwide FlexAccount debit card or credit card will not be charged any foreign usage fees and will have extra money to enjoy while on holiday.”
* ONS release, Overseas travel and tourism, dated 10 May 2006, stated that £8,090 million was spent by UK visitors in December 2005 to February 2006. If a third of the overseas winter spend was spent using a credit or current account debit card charging a foreign currency loading fee of 2.75%, approximately £73.3 million would have been paid to card providers.
**Cost of various purchases totalling £1,000 and two £100 cash withdrawals with a debit card overseas


See www.nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=934
for the full release and a compartson chart.

dzug

Anne_Elize wrote: »

Does anyone know if there is there a site anywhere that lets you find out how much host countries charge for ATM withdrawals or do you need to contact the overseas banks individually? Even with a Nationwide debit card ATM costs could mount up.

You shouldn't (and that's shouldn't, not won't) have to pay a fee as a foreigner to use a bank owned cash machine anywhere in the world. That is Visa's policy. The only charges allowed are those levied by your own bank.

The only exceptions I know of are some dozen US states which have passed 'anti-competition' legislation forbidding Visa to enforce such a policy. In those states you may be charged a fee, but it won't be every bank, only those that choose to.

The states are :

Alabama, Arkansas, Georgia, Idaho, Louisiana, Maine, Mississippi, Nevada, Tennessee, Texas, Utah and Wyoming.

That list is rather old, so it is possibly incomplete - and Visa may have relaxed their stance (but I haven't seen anything to say so)