Travel Money & Foreign Exchange Tips guide

EssexExile

southportman wrote: »

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

The UK isn't in the Eurozone.
If the UK votes to leave the EU then the rate will probably go up or down, but not necessarily.

ionh

I'm sure this is a standard question that's been addressed dozens of times, but i'm blowed if i can see an answer here...

I'm going to Portugal and will need best part of 1000 euros cash to pay for assorted bits and pieces. Looking at all the options, the cheapest i can come up with is:

(i) Preload my Clarity card account with (say) £500

(ii) Make ATM cash withdrawals when overseas

Anybody know better?

eDicky

ionh wrote: »

(i) Preload my Clarity card account with (say) £500

(ii) Make ATM cash withdrawals when overseas

?

Withdrawing cash euros from ATM with your Clarify card will give you the best possible exchange rate. Contravening the card's T&Cs by 'pre loading' it would be at your own risk of any consequences.

DrowninginDebt

Hi, 2 years ago, after completing an IVA early, I obtained a credit card (Aqua), paying in full each month to rebuild my credit score. However, for the past 10 months I have been working in Spain and have used this card only to withdraw cash at the ATMs. Ouch! I now hear you say as I now learn that this destroys your credit score!! I am due to work abroad again - could you please advise on the best credit or preloaded card just to use for withdrawing cash in Spain. Cheers!

eDicky

DrowninginDebt wrote: »

Ouch! I now hear you say as I now learn that this destroys your credit score!!

It causes no destruction, the effect on your credit history is relatively minimal if there is no related indication of bad financial management. The 'Ouch!' for me is the thought of the fees you were paying to use the card for withdrawals. If it is the Aqua 'Reward' card it is fee free for foreign purchases (only).

Some (or all?) Santander debit and credit cards can be used without fees for withdrawals from Santander ATMs in Spain. Their 1|2|3 credit card is fee free for overseas use until the end of this year.

The Revolut prepaid MasterCard has no fees except for ATM withdrawals in excess of €650 per month.

In the London area you can obtain a Metro Bank debit card with no fees for use throughout Europe, issued immediately when you open an account with them in branch.

MSE info: http://www.moneysavingexpert.com/credit-cards/travel-credit-cards

LeeTaylor1

Hi
I'm off to Malta with my family at the end of July. I was told by a friend to take about £300 in Euros and the rest in £ Stirling as you get a better rate. Is this true, or would it be better to get a prepayment card I can use back in The UK if there is any surplus?

Rosie.b

IF you have a Santander 123 current account and you are depositing £500 per month you can withdrawn cash from a Santander ATM in Spain without charge

DrowninginDebt

Thank you so much for all your helpful advice - head is clearer now!

RachaelPJam

I think the Escape travel card might be useful to you. You load it with sterling and use it like a debit card in whichever country you go to. Then if you've got money left over it's in sterling so you don't have to convert back.

NiftyDigits

RachaelPJam wrote: »

I think the Escape travel card might be useful to you. You load it with sterling and use it like a debit card in whichever country you go to. Then if you've got money left over it's in sterling so you don't have to convert back.

Oh please....Rachel one post. This is a money saving forum. The exchange rate matters.