Best Way To Pay A Monthly International Loan

Whitesands

I currently make a $634.47 monthly payment from my UK HSBC Advance account to the United States to pay off a loan for our part in Disney Vacation Club (a holiday timeshare company) - the loan is directly with DVC themselves.

Every month HSBC send my payment in sterling at the Visa exchange rate (so I've recently sent (depending on the rate)...£483.06, £477, £461.76, £456.90, £453.3 and they charge me between £12-£15 in fees.

Over the years this is going to vastly add up, please could anyone share their advice on the best way to deal with a payment like this to:

(a) get a good exchange rate and
(b) avoid (all) fees if possible.

I've looked into other accounts, credit cards, but if I'm being really honest, I'm absolutely lost, I would really appreciate any advice,

Thank you ever so much xx

sourcrates

Hi,

Everyone will charge fees.

PayPal charge you a cross border fixed fee of between (£1.99/£3.99) per transaction.

Cheaper than what you pay now.

TrickyDicky101

I'm intrigued - what do you get from this arrangement? Presumably a/more than one holiday(s) out of it?

What does it cover (just accommodation or food/drinks/more)?

Are you locked in for any particular period of time (one year/two years/forever)?

abuttyout

Get the Revolut app and make an account.


You can send money anywhere at the best rate with no fees.


I use it to pay for things abroad all the time, plus you can send money to anybody, fee free.


Just go on their site and take a look

jonesMUFCforever

Have you considered opening a US dollar account in the USA?
Then send enough to cover 3/6 months a time which will reduce your monthly fees.

Or, will Disney accept card payments?
If so get a Clarity card which will give you transactions without any fees.

Whitesands

TrickyDicky101 wrote: »

I'm intrigued - what do you get from this arrangement? Presumably a/more than one holiday(s) out of it?

What does it cover (just accommodation or food/drinks/more)?

Are you locked in for any particular period of time (one year/two years/forever)?

if you visit the Disney Vacation Club website they've got all the breakdowns on there (as a new member it won't let me post any links!!) xx