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  • FIRST POST
    • MSE Helen Saxon
    • By MSE Helen Saxon 12th May 15, 9:36 PM
    • 75Posts
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    MSE Helen Saxon
    0 WOW
    Travel Money & Foreign Exchange Tips guide
    • #1
    • 12th May 15, 9:36 PM
    0 WOW
    Travel Money & Foreign Exchange Tips guide 12th May 15 at 9:36 PM
    Hi!

    This is the discussion thread for the



    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.


    Thanks folks,
Page 3
    • NiftyDigits
    • By NiftyDigits 1st Sep 16, 5:28 PM
    • 10,287 Posts
    • 4,379 Thanks
    NiftyDigits
    Can i ask a question about the metro debit card? I have recently noticed that their exchange rate doesnt match the mastercard on the day exchange rate when i withdrew cash?

    Is this something common? has anyone else noticed it? Am i to start strictly using my clarity credit card? I was using the debit as it was more convenient.
    Originally posted by MiraculousM
    Which country? Post the rates. Together with time and date of transaction. That way we can see if DCC may have taken place.
    SEPA only of course.

    When we refer to Europe we regard the countries which are part of the Single European Payments Area (SEPA).

    19 EU Euro countries - Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain
    8 EU non-Euro countries - Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden
    2 non-EU, Euro countries – Monaco, San Marino
    4 non-EU, non-Euro countries - Iceland, Liechtenstein, Norway, Switzerland
    • trevjl
    • By trevjl 4th Sep 16, 3:56 PM
    • 52 Posts
    • 24 Thanks
    trevjl
    Cash exchange
    I need to change £8K into Euros in a week or so. Take that as read, I need the cash to pay various bills for a group of us going away. Last time a couple of years ago I used moneycorp at the airport pre ordered and got a decent rate at the time. I had to do half and the wife half as they wouldn't do it in one hit.
    This time, it appears that Currencyclub or currencyonlinegroup are best.
    As somebody who exchanged a similar amount with Crown Currency 3 weeks before they went bust, I am cautious about using these firms i have never heard of. Is there a way I can check them out
    • eDicky
    • By eDicky 4th Sep 16, 6:44 PM
    • 4,929 Posts
    • 3,031 Thanks
    eDicky
    I need to change £8K into Euros in a week or so. Take that as read, I need the cash to pay various bills for a group of us going away.
    Originally posted by trevjl
    Are these bills only payable in cash, not by card or bank transfer?
    • trevjl
    • By trevjl 4th Sep 16, 7:32 PM
    • 52 Posts
    • 24 Thanks
    trevjl
    yes, far too much hassle to pay by card, just have to take my word for it. Nothing underhand, just a large group of people to collect from and pay for.
    • Bigbob999
    • By Bigbob999 12th Jan 17, 4:55 PM
    • 1 Posts
    • 0 Thanks
    Bigbob999
    Honeymoon
    Long time reader, first time commenter

    I am going away for 3 weeks on my honeymoon. Mainly Germany.

    At the moment i do not have any travel cards. I was thinking of getting a travel credit card and take cash for smaller shops etc. But would you advise taking less cash and using credit card to withdraw at ATMs anyway. I will have access to wifi so can pay it off as required.

    I just see fee when withdrawing but i see alot of comments on here saying its not much.

    Will be looking at spending £3-4000

    Cheers
    • eDicky
    • By eDicky 12th Jan 17, 7:28 PM
    • 4,929 Posts
    • 3,031 Thanks
    eDicky
    I just see fee when withdrawing but i see alot of comments on here saying its not much.
    Originally posted by Bigbob999
    The recommended credit cards for travel have no fee, there's just the interest incurred daily after withdrawing. It stops as soon as that withdrawal is paid off, and is an insignificant amount if paid within a few days or so.

    The exchange rate you get by using such cards to withdraw foreign cash is always better than buying it from an exchange bureau (on the same day)
    Last edited by eDicky; 12-01-2017 at 7:34 PM.
    Evolution, not revolution
    • FedUpWithHikes
    • By FedUpWithHikes 23rd Jan 17, 7:25 PM
    • 37 Posts
    • 24 Thanks
    FedUpWithHikes
    I don't know why Martin doesn't mention the CaxtonFX prepaid card.. it's Mastercard, and doesn't have fees (cash or purchases). If you load euros or US$, you get the exchange rate when you load it, and it you need a different currency (like Czech koruna), load with GBP and get the exchange rate when you spend or withdraw cash.
    40
    • eDicky
    • By eDicky 23rd Jan 17, 9:39 PM
    • 4,929 Posts
    • 3,031 Thanks
    eDicky
    I don't know why Martin doesn't mention the CaxtonFX prepaid card.. it's Mastercard, and doesn't have fees (cash or purchases). If you load euros or US$, you get the exchange rate when you load it, and it you need a different currency (like Czech koruna), load with GBP and get the exchange rate when you spend or withdraw cash.
    40
    Originally posted by FedUpWithHikes
    The exchange rates are worse that those of the prepaid cards currently listed in the article. It was listed in the past, and it's not the worst possible choice, reliability and customer service relatively good.
    • FedUpWithHikes
    • By FedUpWithHikes 24th Jan 17, 1:11 PM
    • 37 Posts
    • 24 Thanks
    FedUpWithHikes
    The exchange rates are worse that those of the prepaid cards currently listed in the article. It was listed in the past, and it's not the worst possible choice, reliability and customer service relatively good.
    Originally posted by eDicky
    Thanks. It usually beats the rates I see for getting cash, and for the relatively small amounts I spend, the rates are OK. ATM fees are a bigger factor as I tend to make plenty of small cash withdrawals. It's a bit annoying that ATM receipts don't show the available balance, but the app covers that.
    I'll have another look at the others.
    32
    • debtdalek
    • By debtdalek 25th Jan 17, 8:22 AM
    • 201 Posts
    • 716 Thanks
    debtdalek
    Not impressed with MSE comparison tool or No1 Currency
    Beware when using the comparison tool for your foreign exchange. I used it last week to check out Swiss Francs. Rate advised was 1.618 with No 1 Currency.
    Ordered online and went to collect on the Saturday morning and the rate I actually got had been dropped when I ordered - but I hadn't noticed, to less than the comparison tool was still showing the two following days.
    Anyway when I first got there she first told me that they had sent Chilean money - obviously not au fait with the three letter code being CHF.
    After that panic was sorted, I discovered that they had also sent a third of my money in 50 swiss franc notes after the branch had assured me when I called them that they would send a message to ask for no greater than 20's.
    As there was no answer on Saturday, I have been trying to sort it all out since Monday, with no promised call back from them.
    Doesn't help either that I collected from Cash Generator and of course it's two different companies and they just order in your money so unlike a bureau du change, have no notes to swap them with.
    Will be back to the Post Office next time!
    • eDicky
    • By eDicky 25th Jan 17, 8:54 AM
    • 4,929 Posts
    • 3,031 Thanks
    eDicky
    Will be back to the Post Office next time!
    Originally posted by debtdalek
    Why punish yourself even further? Forget about losing money every time you buy cash - use a suitable fee-free credit card or prepaid card at perfect rates instead..!
    Evolution, not revolution
    • gillybusybee
    • By gillybusybee 22nd Mar 17, 10:42 AM
    • 2 Posts
    • 1 Thanks
    gillybusybee
    gillybusybee
    We use our Halifax Clarity Card in Auchan, Calais in February, for a £100 spend. THe shop assistant charged us £5 for the privilege. Does this happen in other shops?
    • Debris62
    • By Debris62 22nd Mar 17, 7:58 PM
    • 2 Posts
    • 4 Thanks
    Debris62
    Hi
    My 17 year old is going to Europe for a month this summer-any suggestions on best way for her to take/spend money as I understand pre-paid cards are for over 18's only - is the right?
    • eDicky
    • By eDicky 22nd Mar 17, 9:10 PM
    • 4,929 Posts
    • 3,031 Thanks
    eDicky
    My 17 year old is going to Europe for a month this summer-any suggestions on best way for her to take/spend money as I understand pre-paid cards are for over 18's only - is the right?
    Originally posted by Debris62
    Soldo provides supplementary cards for under-18s and good value for overseas use. Monthly fee begins after three months. Please let us know how it goes if you try it.

    https://family.soldo.com/en-uk/c/family/
    • maz100
    • By maz100 29th Mar 17, 1:36 PM
    • 3 Posts
    • 1 Thanks
    maz100
    Halifax Clarity card - Felt Misguided
    I used the Travel Money Max via MSE to look for a good Euro rate. It did give me the best rates for cash at various pickup locations.

    I also obtained a Clarity credit card from the Halifax, because there are no interest charges when buying goods using it - and the exchange rate is the true market rate as it's a Mastercard.

    However, I called Halifax to obtain Euro's via a Branch using my Clarity card. But they do do that service. (Although they tell you you could on the phone).

    I felt I was a little misguided as I thought I would get the Mastercard exchange rate (at least 2 cents above the best cash rate on MSE collection places), using at ATM at the Airport. But that rate was 1 Euro for £1. So I declined. I did get 1.086 at an ATM in Spain and NO fees. (Halifax will charge £1.56 for every £100 cash withdrawn)

    I would have been better just buying Euro's at Heathrow at 1.14 - having shown the rate to the teller via my phone, as I have done this before.
    Well, at least my purchases will be at 1.16 rate from Clarity

    I think MSE should mention and Clarify (excuse the pun) that UK Airport ATM's are a rip off - at the very beginning if the rates listed and especially where the Clarity card is shown.
    • eDicky
    • By eDicky 29th Mar 17, 2:13 PM
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    • 3,031 Thanks
    eDicky
    However, I called Halifax to obtain Euro's via a Branch using my Clarity card. But they do do that service. (Although they tell you you could on the phone).

    I felt I was a little misguided as I thought I would get the Mastercard exchange rate (at least 2 cents above the best cash rate on MSE collection places), using at ATM at the Airport. But that rate was 1 Euro for £1. So I declined. I did get 1.086 at an ATM in Spain and NO fees. (Halifax will charge £1.56 for every £100 cash withdrawn)
    Originally posted by maz100
    The MSE article is misleading for some, but the MasterCard exchange rate using Clarity is only available for purchases and cash withdrawals, and only if you ensure that you pay in the foreign currency, or select the 'Without Conversion' option when using an ATM. The latter is important, any exchange rate for pounds displayed on-screen is what the ATM will give you instead of the MasterCard rate unless you decline it. It sounds like you fell for this in Spain.

    As for airport ATMs, of course their purpose is for legally fleecing the unwary passenger. But in fact you can obtain the MasterCard rate with Moneycorp multicurrency ATMs (Stansted, Gatwick, Southend) using a fee-free credit or prepaid card such as Clarity, by taking care to select 'Without Conversion' when the choice is offered, in the same way as overseas. This does not work with Travelex or any other ATMs in the UK.
    • zagfles
    • By zagfles 29th Mar 17, 2:20 PM
    • 14,608 Posts
    • 13,050 Thanks
    zagfles
    We use our Halifax Clarity Card in Auchan, Calais in February, for a £100 spend. THe shop assistant charged us £5 for the privilege. Does this happen in other shops?
    Originally posted by gillybusybee
    I've used my Clarity in hundreds of shops, restaurants, petrol pumps and ATMs all over France and never been charged.

    I guess there might be some places that charge extra for credit card purchases, just like there are here. But I've never come across any in France and I'm a regular traveller.
    • zagfles
    • By zagfles 29th Mar 17, 2:41 PM
    • 14,608 Posts
    • 13,050 Thanks
    zagfles
    I used the Travel Money Max via MSE to look for a good Euro rate. It did give me the best rates for cash at various pickup locations.

    I also obtained a Clarity credit card from the Halifax, because there are no interest charges when buying goods using it - and the exchange rate is the true market rate as it's a Mastercard.

    However, I called Halifax to obtain Euro's via a Branch using my Clarity card. But they do do that service. (Although they tell you you could on the phone).
    Originally posted by maz100
    I never trust anything bank staff tell me on the phone. I've been told utter rubbish too many times.
    I felt I was a little misguided as I thought I would get the Mastercard exchange rate (at least 2 cents above the best cash rate on MSE collection places), using at ATM at the Airport. But that rate was 1 Euro for £1. So I declined.
    Which airport? I mean UK or foreign? Most UK airport ATMs will convert the currency at a ridiculously bad rate - far worse than even changing cash on the high street!

    Wait till you're at the foreign airport and use an ATM there. As eDicky says make certain you do not let the ATM do the conversion. Take the "without coversion" option. Sometimes it will ask you if you're sure. It may warn you that you won't know what the exchange rate will be. This is true. One thing you do know, it'll be a hell of a lot better than the rate the ATM was offering you.
    I did get 1.086 at an ATM in Spain and NO fees.
    That sounds like you let the ATM do the conversion. The reason for having a Clarity is it gives excellent currency conversion rates. But you lose all that if you let the ATM do the conversion!! Foreign ATMs will always ask you before converting. Always say no.
    (Halifax will charge £1.56 for every £100 cash withdrawn)
    You mean as interest? Pay it off as soon as you can as you'll pay much less than that. Don't wait for the statement.
    I would have been better just buying Euro's at Heathrow at 1.14 - having shown the rate to the teller via my phone, as I have done this before.
    Well, at least my purchases will be at 1.16 rate from Clarity

    I think MSE should mention and Clarify (excuse the pun) that UK Airport ATM's are a rip off - at the very beginning if the rates listed and especially where the Clarity card is shown.
    The key thing to remember is that whenever using the Clarity is don't let the ATM do the conversion.

    Similarly you sometimes get retailers who'll try to convert the currency because they usually get a kickback of the rip-off rate they'll use. So when paying for stuff I find it safest to tell them to charge it in Euros (or whatever the local currency is).
    • PeacefulWaters
    • By PeacefulWaters 29th Mar 17, 4:02 PM
    • 8,316 Posts
    • 10,685 Thanks
    PeacefulWaters
    Halifax will charge £1.56 for every £100 cash withdrawn
    That would be if you wait a month.

    5p per £100 per day. So pay fast and smile.
    • maz100
    • By maz100 30th Mar 17, 11:27 AM
    • 3 Posts
    • 1 Thanks
    maz100
    Yes, I did fall for that in Spain. Next time it will be the "Without Conversion" option !!

    Yes the customer services at Halifax were in conflict at procedures at their own bank. I was told "Yes they do" give you cash when you present your Clarity credit card at branch - No we don't was the branch's reply"
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