Best bank for holiday money

Cazzamiller78

Hi, I'm after a Bank account my husband & I can use for holiday money. We both share costs equally so would like an account the we can both put our spends into when we go away, so it's separate from our own individual accounts and we know how much we have left. We don't want a credit card, just an account we can put money into when we go away. Doesn't need to be a joint account, it can be in just one name but it's just to keep holiday money separate. Can anyone recommend something? Thanks

2childmum2

We wanted a basic bank account as a back up account and wanted to be able to use a branch so we opened a joint account with Metro, which has two branches near us. I would suggest a joint account would be better so you can both access the money.

flaneurs_lobster

Are the holidays likely to be overseas? Be good to have an account where the debit card(s) use will not attract foreign currency transaction fees.

daveyjp

Starling has worked as our Forex debit card account for many years. Easy to open accounts, simple to use and fee free cash withdrawals if required.

dcs34

A joint account with a bank or building society convenient for you (maybe a different bank to your main accounts, so if they have issues, you can still access other money). Joint accounts allow you to set rules about what individual holders can do and what must be authorised by both parties.

Just in case you later decide you don't trust your husband! 😂

lr1277

Personally I would want a bank that is easily contactable if things go wrong, especially when abroad. I have limited experience of chatting in apps and no experience of contacting a bank by email.

I bank with First Direct and they are contactable 24 hrs a day. Also their debit card is fx fee free.

I know much can be done in apps these days but if you have an unusual situation, (or there is no internet data service) in my view nothing beats a phone call.

Rob5342

Starling or Monzo would be good,.as they let you split money into as many spaces/pots as you want which is very useful for separating money for different purposes. Starling let you have virtual cards attached to spaces which you can add to Apple Pay or Google wallet which makes things very simple.

penners324

Starling or chase if going somewhere where cash is prevalent. Add Monzo to the list if if just card payments are fine

Cisco001

Joint current account at First direct

Debit card with no oversea transaction fee and ATM withdraw fee.

First direct has a 7% regular saving account. £250 per month max. Good for saving holiday fund.

Not recommend Starling as it restricted cash withdrawals with max six/day, max £300/day

No for Monzo as well. Their unlimited fee-free withdrawals in the European Economic Area (EEA) only, and up to £200 every 30 days anywhere else. After that, we'll charge 3%.

Barkin

Not recommend Starling as it restricted cash withdrawals with max six/day, max £300/day

I'd guess that, for an overwhelming majority, this is a total non-issue.

Cisco001

https://forums.moneysavingexpert.com/discussion/comment/82015443#Comment_82015443

£300 could be an issue. I just don't like restriction if there are better option.

There was time I spent over £300 cash a day in HK. Mainly buying electronic stuff + local cash only cafe.

Some smaller gadgets shops offer lower price on a price comparison website. That advertised price only valid if you pay by cash.