Cheap Travel Money Discussion Area

KTF · 20 May 2011 at 4:57PM

Have a read of this: http://www.moneysavingexpert.com/travel/cheap-travel-money

cepheus · 21 May 2011 at 7:28PM

Has anyone ever used this Sainsbury's/Travelex option? What precisely do they mean at the same rate, do they buy it back at the same rate they sold it without the spread?

Buy Back Plus - we'll buy back your unused currency at the same rate you paid for it, within 31 days of purchase (£3.99 fee applies per currency.

http://www.sainsburysbank.co.uk/travel/travelmoney_termsandconditions.shtml

Baldur · 22 May 2011 at 11:54AM

cepheus wrote: »

Has anyone ever used this Sainsbury's/Travelex option? What precisely do they mean at the same rate, do they buy it back at the same rate they sold it without the spread?

That's what the full Ts & Cs say - http://www.travelex.co.uk/sainsburys/buybackterms.aspx

You are paying £3.99 for the privilege, though.

If you are returning from your journey within 31 days of your original purchase, Travelex will buy back your foreign currency bank notes and Travellers Cheques commission free at the original exchange rate you bought them from us. Secure the value of your currency for your own peace of mind for only £3.99 per currency.

alan_p_brown · 22 May 2011 at 11:22PM

Have used the Travelex buy-back scheme in the past. Was handy on a holiday where I wasn't sure how much cash I would need. Bought quite a lot.... and brought most of it back, so it worked well for me then. Does what it says on the tin, the use the same rate as you bought it at, no spread, no additional charges (just make sure you have the receipt that you bought it with).
Don't do it this way anymore... my Barclays debit card incurs a penalty charge for Travelex purchases and that charge for the scheme. My current preference is to use Halifax Clarity; buy what I can as card purchase, but also use it for ATM cash abroad. The ATM cash has interest charges from day one, however, even if I waited for the statement, these would be no worse than what Barclays debit card charges for Travelex, but I minimise it by paying off the Clarity card on-line as soon as I get home.

cepheus · 23 May 2011 at 7:48AM

This seems an incredibly good deal if they are excluding the spread, just seems far too good to be true. £3.99 is proportionately miniscule for large amounts.

I suppose you are buying it at a poor rate to start with. However what nakes this attractive to me is that you can take enough cash as a backup, in case various cards don't work when you get there, without the cost of paying the enormous spread on return.

Sainsbury's is also accesible to non Londoners and big town travellers, unlike most of the facilities often mentioned. The exchange place at Waterloo is great providing you are travelling to Waterloo!

Iand1 · 24 May 2011 at 2:16PM

Caxton v FairFX cards -

On the article, it states that the FairFX card is better due to a better exchange rate. Just looked at both for Euro's, Caxton quoting 1.1220, and FairFX quoting 1.1265

So not much in it, when I look at it along with the fact you can withdraw cash from ATM's for no fee with the Caxton one, it seems Caxton are the top card.

Or am I missing something???

DCFC79 · 24 May 2011 at 10:06PM

Is there a general rule of thumb with regards to how much cash to order for a week, going away end of next month and want to take some euros also is it a good idea to buy stuff eg food on debit card or should i try and get a card that doesnt charge a fee. I was thinking of ordering 200 - 300 euros but is this enough, it would only be used for nights out and eating out.

Ive got a pre paid card which i can load with cash as a reserve say.

Sorry if its in the wrong section, ill re ask elsewhere if need be

park_gate · 25 May 2011 at 12:23AM

Iand1 wrote: »

Caxton v FairFX cards -

On the article, it states that the FairFX card is better due to a better exchange rate. Just looked at both for Euro's, Caxton quoting 1.1220, and FairFX quoting 1.1265

So not much in it, when I look at it along with the fact you can withdraw cash from ATM's for no fee with the Caxton one, it seems Caxton are the top card.

Or am I missing something???

But the rate should have been 1.14 so it costs about £11 to change 700 euros. Only use a pre-pay card if you can't get one of the good credit Cards or a Santander Zero Debit Card.

Terry

Baldur · 25 May 2011 at 6:03AM

park_gate wrote: »

......or a Santander Zero Debit Card.

.....or Metro Bank/Cumberland Building Society/Norwich & Peterborough Building Society Debit Cards, which also all give fee-free access to funds abroad.

ashlyn123 · 25 May 2011 at 6:10AM

This thread is a wonderful pool of information, I got many things which I was not aware earlier.

You know even I faced the same problem when I first traveled outside my country. That time I carried the travelers Cheque and sufficient amount of cash, as I was not much aware about the banking and available options with the banks. But from then I learned from each of my experience how to manage the things.

Did any body have idea which is the most reliable bank for this service?

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