Saving for holiday

LeroyBoyce

Hello all,

My partner and I wish to try to put some money away for a holiday next year.

I was wondering if there is such thing as a debit/credit card that you can "charge", by us both setting up a standing order to add money to it each month.

We can then spend it on the holiday but also on the spending money, which we'd like to be abroad, if we can.

We are both in our 40s, and we do not live together.

All advice welcome.

Thanks.

L

RobM99

https://www.postoffice.co.uk/travel-money/card

How about this for a starter?

LeroyBoyce

Yes, that's the sort of thing!

Thanks.

(I didn't find it in the "credit card" section...

NoodleDoodleMan

If it suits your needs, an alternative - TUI will allow customers to pay up a booked holiday by regular Direct Debits over several months.

Others likewise I believe, however I have no experience of them.

eskbanker

https://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards/

eDicky

RobM99 said:

https://www.postoffice.co.uk/travel-money/card

How about this for a starter?

The PO card is probably the worst choice for anyone to use, with its fees and adverse exchange rates, even worse for exchanging back any unused currency.

I would open a Starling Bank account for your purpose, they provide joint accounts, ideal MasterCard exchange rates without fees for overseas card use, a real bank where your holiday funds will be safe.

RobM99

eDicky said:

RobM99 said:

https://www.postoffice.co.uk/travel-money/card

How about this for a starter?

The PO card is probably the worst choice for anyone to use, with its fees and adverse exchange rates, even worse for exchanging back any unused currency.

I would open a Starling Bank account for your purpose, they provide joint accounts, ideal MasterCard exchange rates without fees for overseas card use, a real bank where your holiday funds will be safe.

I accept your point, this is something I (obviously) know little about so, as I said, my post was just a starter. It seems to be  the sort of thing the OP was after, so with your help, mission accomplished?
 (I will now self-destruct in three seco

phatbear

Get a chase account which come with a debit card which doesnt charge for foreign transactions and you will get inter bank transfer rates too.

the account comes with a savings account which will give you 2.1% on any balance, which is paid monthly.

then when you are ready to spend your money move your money from your savings too your debit account.

as far as standing orders go you can set up regular payments from your day to day account into your chase savings account 

Doshwaster

I use my Starling card for this. Just transfer money onto it from my main account once a month - or whenever I've got some spare cash and then use it for holiday spending. 

Voyager2002

The most money-saving way to do this would be to open a joint regular savings account. That way, you earn a decent (or at least half-decent) rate of interest on the money you have saved; you are making payments each month into the savings account and you cannot withdraw the money until the account matures. So arrange a holiday booking so that the main payment would be due just after the account matures. Any extra funds could be transferred into something like Starling so they would be easily available for holiday spending money.

Sncjw

Could you decide where you want to go and pay the deposit and then pay the holiday off in instalments..also put.money aside in a savings account that you can set a direct debit front your.main bank accounts.