Euro (€) Currency Thread

patgc

I want to buy my currency over here before we go (hubby's choice) with a company using Martins Money Maximiser. If I buy it on my NWide CC or Debit card I wont be charged anything by NWide. If I can persuade hubby to come into the 21st century and I buy it in Madeira, I need to use the Nwide Debit card and so avoid all charges. If I use the CC I will get charges as per a normal cash withdrawal from the day I withdraw it but no other extra for using it abroad. Can you just confirm that I have now got this right. Sorry to be so dense.

simongregson

patgc wrote: »

I want to buy my currency over here before we go (hubby's choice) with a company using Martins Money Maximiser. If I buy it on my NWide CC or Debit card I wont be charged anything by NWide. If I can persuade hubby to come into the 21st century and I buy it in Madeira, I need to use the Nwide Debit card and so avoid all charges. If I use the CC I will get charges as per a normal cash withdrawal from the day I withdraw it but no other extra for using it abroad. Can you just confirm that I have now got this right. Sorry to be so dense.

If you buy the currency on your nationwide credit card you will be charged a cash advance fee and interest, don't do this. Pay with your nationwide debit card.

However, you would get a far better rate using your nationwide card in cash machines abroad, so why not compromise and get a little currency before you go then the rest when you are there from a cash machine? I never understand why people take huge quantities of cash abroad, I mean you wouldn't in the UK!

Remember to select that you want the card billed in Euros if the cash machine offers you the option of billing in pounds, that way you will get the nationwide visa rate rather than the one the cash machine provider gives.

juliejim

Hi

I'm going to Ibiza in a couple of weeks - DH has just applied for a PO credit card to use to buy things over there but we wanted some Euros as well. What's the best was to do it bearing in mind our debit cards are Lloyds TSB which according to what Martin says I will get charged twice on if I use that to draw money out over there!

Thanks

patgc

Simon
So if I use my NWide CC to buy currency here in UK, over the internet or the PO or such ,it will still be be classed as a cash advance and will incur the charges from that date ?. Its not classed as buying an object or the cost of a meal ?

simongregson

patgc wrote: »

Simon
So if I use my NWide CC to buy currency here in UK, over the internet or the PO or such ,it will still be be classed as a cash advance and will incur the charges from that date ?. Its not classed as buying an object or the cost of a meal ?

Exactly, because you are getting cash, just not pounds sterling :-). Note most debit cards would also charge a fee to buy currency in the UK, there are a few exceptions including your nationwide debit card.

waynehayes

Oh dear. GBP down to 1.1024

inspector_monkfish

mng all

currently trading at 1.1155 in the markets

patgc

Somon,
Many thanks for that, I think I've now got my head around it.

MEMBER02

inspector_monkfish wrote: »

mng all

currently trading at 1.1155 in the markets

and dropping rapidly

inspector_monkfish

MEMBER02 wrote: »

and dropping rapidly

1.1125 trading now
GBP has taken an even bigger hit against USD, so could have been worse!!