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jennyp19
19-12-2013, 11:54
Another dumb question

Converting currency

While we have been away, I have used credit card from Nationwide conversion rate has been 1.18 Euro to £1 roughly
Also used Tesco Credit Card conversion rate 1.14 Euro to £1 roughly

Which was the best to go with - brain dead at the moment - as Harry Hill says, fight - in other words, should I have used my Nationwide or Tesco Visa - taking into account Clubcard Points as well.

To any no-it-all out there or trolls :p , No need for lecture on using Credit card - its set up to be paid off each month, so I'm not paying interest

Siimplyloco
19-12-2013, 12:00
Just a suggestion, and not a dictate.......
We've used these for the past two years. One each and one for shopping!
Brilliant, and we only carry small cash these days.
John
https://www.fairfx.com

antiquesam
19-12-2013, 12:04
Generally the view is Debit Card for cash from machines and Credit Card for purchases. I had a Post Office Card at one time because they had no charges, but they wanted me to phone them twice weekly while in South Africa. I didn't keep the card.

jennyp19
19-12-2013, 12:13
Wouldn't even think of getting cash from a Credit Card, but I get your point.

snowbirds
19-12-2013, 12:32
Hi jenny,

We used a currency card this year as Santander were charging £1.25p for each transaction.I took out a Caxton FX card on line,they charge you £10 to set it up and you get it back on the card as soon as you top it up.The rate is good and they email you with new rates every couple of weeks.I topped up with £750 before leaving the UK in September to try it out then just loaded it when it was getting low.There was only two fuel stations that would not accept it in the three months we were away, and both were 24 hour ones, but we were very happy with it.We are keeping an eye on the rate and will top it up when the rate goes up for next year as the saving rates in the bank are still poor.

Snowbirds.





Another dumb question

Converting currency

While we have been away, I have used credit card from Nationwide conversion rate has been 1.18 Euro to £1 roughly
Also used Tesco Credit Card conversion rate 1.14 Euro to £1 roughly

Which was the best to go with - brain dead at the moment - as Harry Hill says, fight - in other words, should I have used my Nationwide or Tesco Visa - taking into account Clubcard Points as well.

To any no-it-all out there or trolls :p , No need for lecture on using Credit card - its set up to be paid off each month, so I'm not paying interest

francophile1947
19-12-2013, 13:23
While we have been away, I have used credit card from Nationwide conversion rate has been 1.18 Euro to £1 roughly
Also used Tesco Credit Card conversion rate 1.14 Euro to £1 roughly

Which was the best to go with

Nationwide:cool:

maxi77
19-12-2013, 13:44
Just a suggestion, and not a dictate.......
We've used these for the past two years. One each and one for shopping!
Brilliant, and we only carry small cash these days.
John
https://www.fairfx.com


Another vote for FairFX we have used it for about 5 years now, including nearly 3 years full time in the Algarve. Consistantly good rates if not absolutely the best every time. Our cards were free but they charge a token fee now though replacements are free is you use it a lot. You can also make direct bank payments using their system for much less than most banks charge

Frances
19-12-2013, 13:51
I think Tesco only give you one clubcard point per £2 spend so Nationwide based on what you state. Are there any other fixed charges though?

Pauljenny
19-12-2013, 14:05
Another dumb question

Converting currency

While we have been away, I have used credit card from Nationwide conversion rate has been 1.18 Euro to £1 roughly
Also used Tesco Credit Card conversion rate 1.14 Euro to £1 roughly

Which was the best to go with - brain dead at the moment - as Harry Hill says, fight - in other words, should I have used my Nationwide or Tesco Visa - taking into account Clubcard Points as well.

To any no-it-all out there or trolls :p , No need for lecture on using Credit card - its set up to be paid off each month, so I'm not paying interest


If you have been a Nationwide flex account member and pay £1000 a month into it ,you can upgrade it to a Flex direct a/c this will allow you a Select Credit card... Charge free purchases in the €zone and the commercial exchange rate . Halifax do a similar Mastercard ,too . Great for the big expenses like a full tank of fuel .

Cash ...? We are lucky to have a bank account in Portugal . Our State Pensions go into it for a few months ,each year , giving us a debit card for cash in € . Again fee-free and full FX rate .

jennyp19
19-12-2013, 14:40

Solwaybuggier
19-12-2013, 15:07
Just a suggestion, and not a dictate.......
We've used these for the past two years. One each and one for shopping!
Brilliant, and we only carry small cash these days.
John
https://www.fairfx.com

Just a couple of thoughts:
FairFX may be fine in some circumstances, but having got dollar ones for a long, non-MH trip to Vietnam a couple of years ago we felt they were a waste of time & money. In fairness they were essentially a back up & got little use - but they were then difficult and expensive (on small amounts) to get refunds on.

Not all credit cards charge from day 1 for cash advances abroad - we use Saga cards, which only charge interest on cash advances the same as for purchases - ours are set up to pay balance in full every month. Of course, you have to be eligible for Saga!

Luckheart
19-12-2013, 15:27
There's a place local to me converts cash to cider. :cheers:

Sorry

steco1958
19-12-2013, 15:43
For many years I used CC for all my purchases abroad, I have since seen the light and use a pre-pay card.

I have a caxton (Visa), and Fairfx(Mastercard) cards.

The main card I use is the Caxton, slightly lesser exchange rate, however there is no charge for ATM usage.

I have CC's as backup if there is a problem, again both variants.

This allows me most flexability for getting money in the Eurozone.

Steve

Siimplyloco
19-12-2013, 16:49
On the subject of FairFX ATM usage, we can draw €800 in one go, and it costs €1.50: all other transactions are free. Try doing that with a UK bank card!
John

maxi77
19-12-2013, 17:12
Just a couple of thoughts:
FairFX may be fine in some circumstances, but having got dollar ones for a long, non-MH trip to Vietnam a couple of years ago we felt they were a waste of time & money. In fairness they were essentially a back up & got little use - but they were then difficult and expensive (on small amounts) to get refunds on.

Not all credit cards charge from day 1 for cash advances abroad - we use Saga cards, which only charge interest on cash advances the same as for purchases - ours are set up to pay balance in full every month. Of course, you have to be eligible for Saga!

FairFX can only operate under the prevalent rules in the actual country, in France some card systems have problems with non frog cards due to differences in the system rather than deliberate obstruction, here in Portugal there is a universal charge for using cash machines no matter whose card you use and a 200 limit on transactions and only 2 transactions a day. I had exactly the same charges and limitations when I had a Portuguese bank account. Despite this I have used the FairFX card as my only means of changing pounds to euros and paying many bills. I certainly do not expect to need any other means of getting cash or paying bills whilst I am here.

Siimplyloco
19-12-2013, 17:44
FairFX can only operate under the prevalent rules in the actual country, in France some card systems have problems with non frog cards due to differences in the system rather than deliberate obstruction, here in Portugal there is a universal charge for using cash machines no matter whose card you use and a 200 limit on transactions and only 2 transactions a day. I had exactly the same charges and limitations when I had a Portuguese bank account. Despite this I have used the FairFX card as my only means of changing pounds to euros and paying many bills. I certainly do not expect to need any other means of getting cash or paying bills whilst I am here.

I'm glad to be able to tell you that the FairFX rate seems to be universal in Europe!
John
e.g.:

2013-05-10 €200.00 Fin: Marina de Lagos ,LAGOS
2013-05-10 €1.50 Comm: ATM / cash withdrawal

2013-06-11 €250.00 Fin: BANCOSABADELL 11141,RIHUETE, EL
2013-06-11 €1.50 Comm: ATM / cash withdrawal

Stanski
19-12-2013, 21:10
To the original poster - As already answered Nationwide is best option.

Excellent advice and information from others, including the cider pun. An amazing apple crop this year.

Which? did a review on exchange costs last year which made interesting reading. I recall that bank charges are often not shown within the rate it identified.

I had to get cash using Barclaycard last year when an error on my planning caused an overdraft complication, was a little shocked by finding out that ontop of the 5% charge, interest rate of 21% quickly added extra charges of over £50 in 2 months.

An idea! - Could a finance forum be set-up for quick refewerence so allowing people to put knowledge which has been offered on to it?

Kontiki
20-12-2013, 20:52
Its been discussed a few times before, using the Halifax Clarity credit card in Europe you can get cash out at the interbank rate with no currency surcharge. Although it says you can't pre load the card in practice you can or you can clear the balance if you get internet access, the interest charged is 12.7% so approx. 1% a month. They also pay £5 reward if you spend £300 in a month (cash withdrawls don't count)
We both have a Halifax card in our own names & tend to se one for cash withdrawls which we clear as soon as we get cash out & the other card for buying anything else. Found that they accept cards for even small amounts in the supermarkets.

http://www.moneysavingexpert.com/travel/cheap-travel-money


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