Bureau or Cred/Deb Card Withdrawal On My Travels?

[Deleted User]

Hey one and all!

I'm getting in touch on a bit of a whim here.

I travel to the Dominican in 2 weeks time and I'm trying to work out the best way to get some Pesos! Then, hopefully, that will clear my mind for when I need some Euros a month later :rotfl:

I have a First Direct Current Account, a Co-op Platinum Card and a Barclaycard Cashback Card. I'm trying to work out if it's better to withdraw cash abroad using one of my cards (I'm not looking at getting any more, not even the Clarity card... sorry!) or just Bureau it. For the record, the CCs are nil balance.

I get paid whilst I'm out there, you see. So I'm just trying to weigh up my options in case I need more money while I'm out there (should it be that a Bureau is my best bet).

Would anyone waive the associated fees when withdrawing money abroad?!

The First Direct card has a 2.75% transaction fee and 2% cash fee. This is the same for the Co-op Platinum card. There is only a 2.99% flat rate for foreign transactions or withdrawals with Barclays.

Would it be better to take cash from the Bureau? Or, rather, from the Barclaycard and transfer the balance immediately from my First Direct account?

Any advice is greatly appreciated!

[Deleted User]

I've done the maths.

If I withdraw money with my AMEX Barclaycard at a rate of 1:67.69231707 and subtract the 2.99% fee, for £400 I'll get 26267.33 Peso

If I get money from my local Bureau, for £400 I'll get 24292.00 Peso.

Online, I can easily get 24,635.04 Peso.

Is there any repercussions of using a credit card abroad? I've read the 60-second article on MSE and it states that future lenders could see this as a blip?

agrinnall

I can never understand why people come on here to ask this question but don't bother to take the time to read the MSE guide on travel money, which generally answers all but the most specific issues.

http://www.moneysavingexpert.com/travel/cheap-travel-money?_ga=1.180219364.1706339514.1392649330

[Deleted User]

I'm sorry you feel that way about my post. However, I do believe my situation is rather specific.

The link you provided promotes the use of a credit card for withdrawals abroad. Although, the 60-second article I previously mentioned states the opposite. I was throwing a discussion to the masses regarding this.

My Barclaycard is a bit of a special one in a sense that I have an interest-free period of up to 56 days with it on foreign cash withdrawals. This 'benefit' isn't mentioned or weighed up in any of the existing articles, as far as I can see.

Please - as you can see by my post count - I tend to find most answers out there on the web already. Long time lurker and all that. I wouldn't want to waste your precious time asking repetitive questions, honestly.

redux

You might apply for a Kalixa prepaid debit card.

This has no loading in any currency.

Vortigern

Don't rely one just one method of getting cash - it might not work when you need it.

It's a while since I last went to the Dominican Republic. I don't recall seeing any ATMs in the resort. Are you sure you'll be able to find one?

[Deleted User]

Vortigern wrote: »

Don't rely one just one method of getting cash - it might not work when you need it.

It's a while since I last went to the Dominican Republic. I don't recall seeing any ATMs in the resort. Are you sure you'll be able to find one?

To be honest, no!

I can definitely take cash. I'm just eagerly seeking advice for a backup alternative. Would card payments be feasible in DR, rather than withdrawals, based on your recollection?

This might be best posted in a travel forum now...

benjus

There's a separate branch for this: http://forums.moneysavingexpert.com/forumdisplay.php?f=193

I don't really see that your situation is particularly unique. For big currencies like USD and EUR you should be able to get good deals for cash exchange, especially if you can get to London. For less common currencies you're unlikely to get a good rate at a Bureau so you might as well use cards even if you don't want to get any new ones - if there will be ATMs available at your destination.

System

Since your just using your existing cards then you don't need 'us' to do the card calculations - excel or a calculator is all that's required.

As for advice about the Dominican Republic - you'd be better asking in the travel section TBH as the most you'll probably get in here is general advice from someone who has visited the country and this may not be relevant to your circumstances or hotel/resort.

[Deleted User]

Thanks for the feedback, folks. I'll chase it up in travel.