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Travel Money

Kailash

Well-known Member
any recommendations for travel money, best rates...
i've heard of these pre paid cards, are they any good?
can you take the money out from a cash machine in the country and not be charged etc?

also, do you get a better rate the more you change or do some places just give you an offer if you change more
thanks
 

MarkyPancake

Distinguished Member
I take cash for everyday things and use my Nationwide credit card for other things, as there's no conversion charge for foreign transactions.

I shop around for the best cash exchange rate, both online and in stores. I have noticed some places do offers on certain currencies, such as change a minimum of X GBP and get Y USD rate.
 

Kailash

Well-known Member
Revolut card is great. Limited on number of free withdraws but just use like a CC with some of the best rates. Easy to top up and instant app updates when used show costs and balance.

so is everything done through the app? all purchases would need to be contactless and the like?
 

Abbeygoo

Distinguished Member
Another vote for Revolut here. Just used for a holiday in Orlando and really easy. Convert to US dollars before you go, use anywhere the MasterCard symbol is shown - get notifications on the app - simple.
 

Kailash

Well-known Member
ended up with cash but wanted to have revolut as a backup
i wasnt going to order a card but that would mean contactless only and limited to £30 spends or ...?
 

LV426

Administrator
Staff member
I don't for the life of me understand why people are so desperate to hand a huge sum of their money over to a third party before they travel.

I prefer to pay as I go, not beforehand. That way, I have no initial outlay; no estimating (and getting it wrong) as to how much I'll spend; no money to change back afterwards, and so on.

Small amount of cash for incidentals; fee-free CREDIT card for everything else, paid off in full when due. It depends on the country being visited of course; credit card acceptance is patchy in some places, but for the civilised world..........
 

Bilimoria

Active Member
@Kailash go for it, Yes it's fiver for delivery but it's worth it. Also you don't have to transfer money before you leave the country. You can transfer money anytime either from app or online banking. You can enable/disable or restrict functionality of the card from app. e.g. restrict use on ATM.
 

Kailash

Well-known Member
@Kailash go for it, Yes it's fiver for delivery but it's worth it. Also you don't have to transfer money before you leave the country. You can transfer money anytime either from app or online banking. You can enable/disable or restrict functionality of the card from app. e.g. restrict use on ATM.

and can you withdraw cash at an ATM with no charges?
 

LV426

Administrator
Staff member
@Kailash No I do not. As I say, I can't see why I should give my money away to someone (eg Revolut) before I spend it, when I can keep it in my bank account until after I've spent it, and then pay it off afterwards, with no fees (not even a fiver), no interest, no hidden costs or anything. With nothing left over to change back, and no need to scurry about doing top-ups if I've under-estimated.
 

Bilimoria

Active Member
and can you withdraw cash at an ATM with no charges?
Free ATM withdrawals to the equivalent of GBP £200 per calendar month. After that 2% fee.
There are couple of credit card they don't charge fee and give you good rate. e.g Nationwide, John Lewis (I think), etc.

Edit:
Or use Revolut as credit card if you have balance. I don't think there is limit to use as credit card. You can restrict spending on card as security measure using app, which you can change yourself.
 

LV426

Administrator
Staff member
There are several card issuers that offer fee-free (for travel) credit cards. Halifax Clarity, Post Office, SAGA (if you qualify) are examples. For these, you get the wholesale exchange rate at the time of transaction; no commission or fee; no annual fee; no charge for the card itself; and, as long as you pay it off IN FULL when due (you can set up a direct debit to ensure this) zero interest on purchase transactions. In other words, it is a wholly free way to spend foreign currency. Cash withdrawals DO attract interest, but even that can be almost completely avoided (with online access) - my last one cost me 11p.

Most high street banks' credit cards are NOT free to use in this way; many do add exchange fees and/or shade the rate used in their favour.

I would always, though, suggest more than one card. You use one and keep the other safe and separate, both as you travel and whilst in resort. Then, if you lose it (or suffer some other calamity) you have a backup.
 

mjn

Distinguished Member
Another Revolut user here. You can use automatic topup if you wish to keep no money on your card :)
 

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