Euro (€) Currency Thread

hammy_the_hammer

pandora205 wrote: »

I'd never noticed but on Martin's advice section on this site it mentions 2% charge by LloydsTSB for using a debit card to purchase currency or is this just with them (ie via Lloyds bank).... ah yes it would be?!

Sorry, I'm being very dense. If I use my debit card at the Post Office which is one of the better rates I think I wouldn't be charged for the card would I?

So have I got it right? If I order from the Post Office via quidco I would get a goodish rate and no charge for use of a debit card? If not, can someone explain please????????

When you use your Lloyds TSB debit card to buy foreign currency or traveller’s cheques

From Lloyds TSB branches
Free
From any other banks, travel agents, Bureau de Change and other outlets displaying the Visa sign.
1.5 % of the amount with a minimum transaction charge of £2 and a maximum charge for each transaction of £4.50.

dzug1

If you use your Lloyds TSB card AT the Post Office you can avoid the Lloyds fee by doing a cash withdrawal to pay for it rather than paying direct. Max is £200 or maybe £250.

But ordering online where I presume you have to pay when ordering then you can't avoid the fee. (Or do you pay on pickup?)

pandora205

Thanks I think I understand now. I'm wondering whether I can pay cash when I pick up if I order online too. I'll have a look at the website and report back!

pandora205

I've checked and they ask for a card number, so this would cancel out the discount if Lloyds TSB charge 1.5%.

I think I'll just withdraw cash and take it in to collect the currency. I was obviously getting a bit too MSE there, as a 0% commission with 1.5% cashback would mean they would be paying me to use their service!

mouthscradle

Hi all,

I've read all Martin's guides about travel money, I'm going to be opening a Nationwide account for use of the debit card whilst on holiday in Majorca in September.

The only thing I'm confused about is, am I better off getting no foreign currency at all before I travel, and then using the NWide card in an ATM when I get there to withdraw some euros, or would for example the Travelex rate be better than this if I order it online and collect at the airport?

Thank you in advance, want to get the most euros for my pounds as I'm not exactly rolling in it :rolleyes:

Amanda65

My parents have just returned from France and used an ATM to withdraw cash on Nationwide card and dad said he wished he'd got all his money there as the rte he got was 1.26

dzug1

mouthscradle wrote: »

Hi all,

I've read all Martin's guides about travel money, I'm going to be opening a Nationwide account for use of the debit card whilst on holiday in Majorca in September.

The only thing I'm confused about is, am I better off getting no foreign currency at all before I travel, and then using the NWide card in an ATM when I get there to withdraw some euros, or would for example the Travelex rate be better than this if I order it online and collect at the airport?

Thank you in advance, want to get the most euros for my pounds as I'm not exactly rolling in it :rolleyes:

The Travelex rate will be worse than you would get at an ATM using your Nationwide debit card - by 2 or 3%.

mouthscradle

Thanks both, just been reading another topic about this same question and that definitely seems the case yes I think I will put money into my Nationwide and use that one then at ATM's as and when I need.

Is it likely that the actual ATM's themselves will carry any charges?

dzug1

pandora205 wrote: »

I've checked and they ask for a card number, so this would cancel out the discount if Lloyds TSB charge 1.5%.

I think I'll just withdraw cash and take it in to collect the currency. I was obviously getting a bit too MSE there, as a 0% commission with 1.5% cashback would mean they would be paying me to use their service!

0% commission yes - but at least 5% exchange rate spread for the 1.5% cashback to come out of.

And I missed a point - you can both get cash with your Lloyds debit card over the counter at a Post Office AND cash a Lloyds cheque there up to your guarantee card limit, this doubling the amount you can get per day.

hammy_the_hammer

mouthscradle wrote: »

Thanks both, just been reading another topic about this same question and that definitely seems the case yes I think I will put money into my Nationwide and use that one then at ATM's as and when I need.

Is it likely that the actual ATM's themselves will carry any charges?

the atm's don't charge a fee but you need to be wary of dynamic currency conversion (please search on here for full details ) basically when it asks you whether you would like the transaction worked out in GBP or euros ....you want it in euros.
now as memory serves me it is NO you should press but being as these things tend to morph i'd read the message on the screen carefully (as i'm sure some bank will think to change the wording so yes might be the right answer. )