Buy Euro's in the UK or cash point abroad?

worried_jim

adonis10 wrote: »

This looks too good to be true.

As i interpret it, it works as follows:

Load with, say, £500. Convert that to € all at once at, say, 1.15 so the card now holds €575. Withdraw €200 at no charge so now have €375. Use it in a restaurant for €40, now have €335 and so on. So it's basically like using my debit card here, simply taking out what you have in with no charges or % fees.

If that is what it is, I can't see why anyone would go with any competitor.

Not quite, load it with £500 (or whatever amount) you don't convert it but just spend on it and get the Mastercard rate of exchange or as I do, just withdraw local currency from an ATM. As long as you don't withdraw more than £500 per calendar month there is no fee and there are no fees or limits for using the card in shops etc. Simples.

eDicky

You can do either - exchange GBP/EUR/USD whenever (you think) it's a good rate, or just let it convert when you pay/withdraw.

Effervescent

I recently used Halifax Clarity card at ATM in Ibiza and got a better rate than either changing money in the UK before I left and exchanging Sterling at the hotel.

ktjackson

I always use my Clarity card when I go away. Good rates and no ATM charges.

adonis10

Think I'll just stick with the Revolut card. Don't see any downsides; no fees or charges and get the bank rate at time of conversion. Win win.

leylandsunaddict

Clarity card all the way. Not used anything else for several years.

adonis10

What is the advantage of the Clarity card over Revolut? Is it the same as in no fees?

leylandsunaddict

adonis10 wrote: »

What is the advantage of the Clarity card over Revolut? Is it the same as in no fees?

I don't know much about the Revolut card, but the Clarity is just a standard credit card that has no foreign usage fees. It's the same credit card as we use at home. No special card needed just for travelling, and no need to top up. I think the Revolut charges 2% if you withdraw over £500 a month in cash. Given that we would only want it for cash withdrawals while on holiday/travelling that would defeat the object. Plus with a Clarity you get Section 75 cover on purchases.

adonis10

leylandsunaddict wrote: »

I don't know much about the Revolut card, but the Clarity is just a standard credit card that has no foreign usage fees. It's the same credit card as we use at home. No special card needed just for travelling, and no need to top up. I think the Revolut charges 2% if you withdraw over £500 a month in cash. Given that we would only want it for cash withdrawals while on holiday/travelling that would defeat the object. Plus with a Clarity you get Section 75 cover on purchases.

Ah ok, that's very good. I assumed there would be a transaction % fee or a lower exchange rate. If it's at the bank rate with no fees, definitely a card worth getting.

So far, so good with revolut; hotels will be paid for on card, as will the odd restaurant meaning €500 cash withdrawal in July and €500
In Aug will see us right with no fees.