Travel Money & Foreign Exchange Tips guide

adindas

Kernow666 wrote: »

i have used my clairty card when i was last in the US , i did find some free to use ATMS in las vegas & LA but yes the majority still charge $1-$3 per transaction so i ended up taking out $500 then using the card for larger purchases , even when with paying the interest when i got back home i was still 5cents a dollar better off

This is nothing to do with Halifax clarity. In some countries like US, Thailand and few other countries in Asia, there is always unavidable charge you for using their ATM. So whatever non US/Local cards you are using to withdraw cash there is no way you could avoid this fee when using their cash machines. But you still get the best conversion rate done by Master card (+ no avaidable ATM usage fee).

The fee for this ATM usage fee is flat per transaction (e.g does not depend on the amount you withdraw). So the trick in dealing with this is when withdrawing cash, draw the maximum you could up to your daily withdrawal limit. Doing this even after adding the tiny cash witdrawal fee you coudalways be miles bettern rather then using the money changer.

BaldacchinoR

I wonder if anyone does what I do when abroad? I pay for friends or relatives bills, e.g supermarket shopping typically, with my credit card, and they give me the money in local currency. That way, if you use a card which charges any fees for drawing cash, it saves you going to the bank - its like getting cashback in the supermarket - and you avoid the fees.


I use my Santander Zero mastercard but this is no longer available. I also have the Post Office mastercard credit card and the Saga Platinum visa credit card. The last two cards are suggested by MSE for use abroad. Each charges fees/interest for cash transactions but not for payments to retailers.

stevemarr_2

had my doubts as had never heard of this,so authenticated that they are full members of mastercard,and tested card in uk before risking it abroad,works at all merchants and atms accepting card but must be with your pin,cannot be used over telephone.card can be loaded with pounds minimum load £50 and max £1000 in any one day,you then can xchange into several currencies,i used euros,at immediate,1 -3 days or 7 days to wait.whilst it saves tiny commission i heavily recommend the immediate swap as saves worrying about delays,and normally converts within 5 minutes.on return from holiday had few euros left so converted back to pounds and can spend on petrol,shopping etc in uk no problem.very easy to get card dont think any credit checks received in about 2 days,so allow at laest 7 days to get card and check works and load up before travelling.

busiscoming2

I have a Halifax Clarity card. Is it better to take cash out abroad (Spain) from an ATM with the card or to exchange cash for euros before I go?

eDicky

Use the Clarity to withdraw your euros in Spain.

Tragen

If I use my halifax clarity to withdraw euros abroad (Cyprus), I understand that I should pay it off the same day to avoid interest.

Should I just guess how much to pay off or will the ATM provide an amount?

eDicky

Tragen wrote: »

If I use my halifax clarity to withdraw euros abroad (Cyprus), I understand that I should pay it off the same day to avoid interest.

Should I just guess how much to pay off or will the ATM provide an amount?

Better to wait a day or two until 'settlement' and the transaction amount shows in your account. To 'pay off' before that will put your account into positive balance, which is against T&Cs for the credit card. Even if not paid off for a few days the interest accrued will be relatively miniscule.

The ATM will not show the GBP amount - assuming that you don't make the mistake of selecting 'Conversion' if a choice is offered, allowing the ATM to make the exchange at a lousy rate, instead of MasterCard.

Snapelover

Going on holiday to Rhodes in May and no idea what is best to go for with holiday money.

I have done travellers cheques years gone by and I like the idea of taking a set amount of money on holiday and exchanging whilst abroad. I don't want to use a credit card, I prefer to pay for things in cash.

What is my best bet these days?

Thanks.

Kernow666

Snapelover wrote: »

Going on holiday to Rhodes in May and no idea what is best to go for with holiday money.

I have done travellers cheques years gone by and I like the idea of taking a set amount of money on holiday and exchanging whilst abroad. I don't want to use a credit card, I prefer to pay for things in cash.

What is my best bet these days?

Thanks.

http://www.moneysavingexpert.com/travel/cheap-travel-money

southportman

if uk votes to leave the eurozone what effect will that have on the pound/euro exchange rate. will it go up or down?