Spending Abroad

Lanzarote_1

Hi     Need some advice, we go abroad for a month in the winter as I cannot stand the cold (disabled).
    Our port of call is Lanzarote (home from home, been that many times know it like the back of my hand) I normally use a multicurrency travel card that I top up whenever I need to, the recent one being Fairfx, which was very good for fees etc but now when I have checked up on it I seem to get scam warnings all over the internet, so have decided to go for a new one.
     Basic needs :- don't like getting ripped off with inactivity fees
                             don't mind paying ATM fees provided they are not searching the bottom of my                                     pockets
                             exchange rates as low as possible
                             would like to load up with as much as I can per month before we go away but not                               be limited by how much
                             would like to use ATM's without incurring huge fees, also maximum withdrawls                                   without incurring fees
got my eye on Revolute any idea's
                  All help greatly appreciated.

                                    Ken

bagand96

Have you considered not using a travel card and just getting a current account that doesn't charge for foreign spending or cash withdrawals.  Starling Bank or Chase are the normal ones recommended here.

You don't need to switch banks or anything or use it as your main bank account.  Just open the account, keep a token amount of money in there and add to it when you need to for your travels.  When abroad use the debit card just like home, no fees, they convert the Euro to GBP at the Mastercard rate on the day of transaction. This is very near the interbank rate and better than any forex company will give you.  Can be used in an ATM the same (although in Spain most of the banks there charge their own ATM fees so be careful - I think Banca March are still free and have a few ATMs in Lanzarote).

Starling and Chase are both app based, you can be up and running the same day with your debit card a few days later.

JGB1955

We were in Lanzarote earlier this year and used Starling for all purchases other than the buses.  Exchange GBP to €100 in cash  before you go (we used Sainsbury's) and you will be avoiding ATM fees totally.

NoodleDoodleMan

Where in Lanzarote ?

If you want currency and are near a branch of Banco Santander with ATMs then a UK Santander debit card is the best deal in my experience for withdrawing Euros - no fees  at all.

As above, Chase or Starling for goods and services at hotels, bars and restaurants etc.

Always elect to settle bill Without Conversion when the hand held machine is presented.

400ixl

Please don't go anywhere near Revolut.

Personally I would have a travel credit card like the Halifax clarity for most purchases and you can pay it off in chucks as you go or when you get back.

I would then have a couple of debit cards that do not charge exchange fees like Starling and Chase where I couldn't use the credit card.

Cash, I would take some local currency exchanged before I went and only if really necessary use it to the extent that I needed to use and ATM.

Doshwaster

I use Starling as a debit card and Clarity as a backup credit card (also useful for deposits on hotels, car hire etc). Also have a couple of other cards as backups to the backups. Whatever you do don't just take one card and don't keep them all in the same place.

At home I just use Starling as a savings account to build up money for overseas spending.

I leave my usual UK cards at home to avoid any risk of losing them of getting them cloned. 

LinLui

I agree with the Clarity card,  but also check out Currensea ( I got one after seeing it on MSE a couple of years ago). It's neither a Debit card nor a credit card.  It links directly to your bank account,  can be used to purchase goods or take cash at an ATM - but at very competitive rates and no fees. 

eDicky

As above, best to forget about 'loading up' any prepaid card, put your money in a real bank account with a debit card that converts your funds at the time of transaction with no fees and no margin on the ideal MasterCard or Visa rate. Then you also have no leftover foreign currency with even more cost and hassle to exchange back to GBP.

Mr.Generous

Has to be Chase for Playa Blanca

Bigphil1474

I got a Revolut card a couple of years ago for a trip to Sweden. I use it as my daily use card now. I think it's great. Never paid a penny in fees, and I can transfer money in and out to my normal current account very easily. Not sure how competitive the exchange rates are today, but they've always been pretty good when I've used them. The basic account costs £5 up front, then nothing. They only charge if you exchange currency outside of office hours.

NoodleDoodleMan

Mr.Generous said:

Has to be Chase for Playa Blanca

If the OP wants cash at anytime, there is a branch of Banco Santander in Playa Blanca - Plaza Nuestra Senora Del Carmen, just up from the seafront promenade.

No fees for ATM withdrawals using a Santander debit card such as issued with the UK Everyday Current Account.

https://www.bancosantander.es/en/buscador-oficinas-cajeros

If/when I want readies a BS branch it's my "go to" choice - with the Edge current account card - which is also fee free for bars and restaurants etc.