Euros. (1 Viewer)

[xsparks]

Generally speaking do you buy your Euros before you travel, and run the risk of not having sufficient or, perhaps returning with excess. Or do you exchange or withdraw whilst away? For most of my expenses I use my Halifax Clarity card, but for day to day expenses I use cash so try to calculate what may be required to take.

 

[Phill D]

load our Caxton card through the year when the exchange rate is good. then have a free holiday when we go. always bring a few back for pocket money on first day next time.

 

[icantremember]

I agree with @Phill D ..... We buy and load Caxton card when rate is favorable so we have plenty to withdraw as required while traveling. If necessary you can top the card up on line from abroad.

PS We always take 2-300€ in cash.

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[Brisey]

load our Caxton card through the year when the exchange rate is good. then have a free holiday when we go. always bring a few back for pocket money on first day next time.

Likewise here.

 

[Reallyretired]

doesn't matter if you have some left over, they don't go out of date.

 

[Robert Clark]

We have a pre paid Euro card from Easyjet
You can top up online when travelling and use for card payments or withdraw cash as required

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[jonsea]

we also load up when the rate is good

 

[Langtoftlad]

How can you tell the rate is good .

 

[Chockswahay]

I simply draw cash from a machine using my Halifax Clarity card then pay it back via internet same day........ best rate and no fees

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[Techno]

I changed from Caxton to Revolut which is very much more flexible and gives you the interbank rate on up to 90 currencies. You can also carry 3 currencies at once just now and even change euros back to sterling potentially making a profit.

 

[Deleted member 29692]

Currency cards. Usually have a couple, currently Caxton and Revolut. The exchange rates are usually better than a no fee credit card and even if they weren't I couldn't be bothered with having to make a payment before or immediately after withdrawing cash.

 

[xsparks]

Thanks for all the great input, quite a number ideas to consider . xsparks.

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[Deleted member 29692]

Halifax Clarity card then pay it back via internet same day........ best rate

Sorry you're wrong.

It's never ever the best rate.

Every single currency card will beat it every single time.

EDIT: With Halifax Clarity you get the MasterCard rate of the day, not the inter bank spot rate. Just looked and as it happens right now (Friday 21:40) they are the same. That's unusual. Normally the MasterCard rate is several cents lower.

 

[Techno]

How can you tell the rate is good .

You can download apps for them and revolut is always at least three points better than Caxton
I bought at 1:43 the other week

 

[lorger]

I simply draw cash from a machine using my Halifax Clarity card then pay it back via internet same day........ best rate and no fees

Same here.

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[Chockswahay]

Sorry you're wrong.

It's never ever the best rate.

Every single currency card will beat it every single time.

EDIT: With Halifax Clarity you get the MasterCard rate of the day, not the inter bank spot rate. Just looked and as it happens right now (Friday 21:40) they are the same. That's unusual. Normally the MasterCard rate is several cents lower.

Really? It has always comes up best in the reviews I may be out of touch now. Perhaps I am thinking of the exchange rate for card transactions? Either way I like using it and I would imagine the difference is only pennies

 

[Chockswahay]

@xsparks This link might be of interest to you

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

 

[Deleted member 29692]

Really? It has always comes up best in the reviews I may be out of touch now. Perhaps I am thinking of the exchange rate for card transactions? Either way I like using it and I would imagine the difference is only pennies

Yes it isn't usually much unless you're making a huge purchase but it isn't the same as the spot rate.

I have a Clarity card that I use for purchases but there's no way I could be bothered with having to make a payment every time I withdraw cash so I use currency cards for ATM withdrawals . By monitoring the rate and buying Euros when the rate is favourable you can sometimes make a worthwhile saving.

Example: It's already been mentioned but I have some Euros at the moment on a card that I bought at 1.43. The MasterCard rate now is 1.35. Withdraw €200 and I would be £6 better off. That's 2 pints here or several glasses of wine in France

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[Chockswahay]

I use currency cards for ATM withdrawals

But don't they charge a withdrawal fee? I used to use FairFX for cash and they charge €1.50 per withdrawal, which is why I ended up using the Clarity card for free cash withdrawal.......

 

[Techno]

NO

 

[Deleted member 29692]

But don't they charge a withdrawal fee? I used to use FairFX for cash and they charge €1.50 per withdrawal, which is why I ended up using the Clarity card for free cash withdrawal.......

I use Caxton, have used UKash and now have Revolut. None of them charge any fees ever for anything.

Never used FairFX so can't comment on that one.

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[Chockswahay]

A few disadvantages? (I am not suggesting one over the other by the way)

Disadvantages
The main disadvantages of a prepaid card are:

• The costs and fees associated with using them. For more information on the types of fees, please see the section Fees and charges for prepaid cards.
• You will not earn interest on any money that you pre-load on the card.
• Some cards may offer less protection than others. Cardholders should refer to the terms and conditions to confirm the level of protection and any liability.
• Prepaid cardholders should be aware of any particular limitations on the use of their card. For example, someprepaid cards cannot be used for particular types of transaction such as online gambling, or cannot be used in certain places such as on planes or trains. Again, any restrictions will be detailed in the terms and conditions and should be contained within the summary box.
• Prepaid cards can often also have various restrictions on the maximum or minimum value that may be loaded on to a card, either at the outset or when topping-up, the maximum total balance that can be held on a card, the maximum amount that may be withdrawn daily, or the minimum available balance required to maketransactions in certain retail sectors such as self-service petrol stations. This information will be contained in the terms and conditions.
• In some circumstances, a prepaid card may not be the most appropriate. For example, in an emergency situation where you may need access to funds greater than available on your card. In these situations a creditcard may provide a convenient form of short-term borrowing.
• There is no fraud protection from your card issuer, so any money used in a fraudulent transaction will not be reimbursed.
• Unlike credit cards, you do not get the same level of protection when using prepaid cards (see Section 75 of the Consumer Credit Act).

Above text from HERE which looks an informative site for @xsparks

(by the way chaps, please don't flame me, I am just adding to the debate )

 

[Techno]

I would turn your attention to the FAQ of Revolut. It just blows that lot (most of) out of the water. I can also draw sterling in UK with no charges as well as Euros in Europe.
Loading more Sterling on my card takes only 5 seconds for confirmation. Buying foreign currency is instant.

 

[Deleted member 29692]

A few disadvantages? (I am not suggesting one over the other by the way)

Disadvantages
The main disadvantages of a prepaid card are:

• The costs and fees associated with using them. For more information on the types of fees, please see the section Fees and charges for prepaid cards.
• You will not earn interest on any money that you pre-load on the card.
• Some cards may offer less protection than others. Cardholders should refer to the terms and conditions to confirm the level of protection and any liability.
• Prepaid cardholders should be aware of any particular limitations on the use of their card. For example, someprepaid cards cannot be used for particular types of transaction such as online gambling, or cannot be used in certain places such as on planes or trains. Again, any restrictions will be detailed in the terms and conditions and should be contained within the summary box.
• Prepaid cards can often also have various restrictions on the maximum or minimum value that may be loaded on to a card, either at the outset or when topping-up, the maximum total balance that can be held on a card, the maximum amount that may be withdrawn daily, or the minimum available balance required to maketransactions in certain retail sectors such as self-service petrol stations. This information will be contained in the terms and conditions.
• In some circumstances, a prepaid card may not be the most appropriate. For example, in an emergency situation where you may need access to funds greater than available on your card. In these situations a creditcard may provide a convenient form of short-term borrowing.
• There is no fraud protection from your card issuer, so any money used in a fraudulent transaction will not be reimbursed.
• Unlike credit cards, you do not get the same level of protection when using prepaid cards (see Section 75 of the Consumer Credit Act).

Above text from HERE which looks an informative site for @xsparks

(by the way chaps, please don't flame me, I am just adding to the debate )

That lot are a trade body for UK card issuers of which "traditional" credit cards by far make up the majority so I humbly suggest that they aren't necessarily objective on this topic.

Also I think that that advice refers to prepaid UK credit cards not currency cards so for the most part isn't relevant. When thinking about prepaid Sterling credit cards I agree with most of it.

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[Chockswahay]

I would turn your attention to the FAQ of Revolut. It just blows that lot (most of) out of the water. I can also draw sterling in UK with no charges as well as Euros in Europe.
Loading more Sterling on my card takes only 5 seconds for confirmation. Buying foreign currency is instant.

I just had a quick butchers .............. it does indeed look good

 

[Chockswahay]

That lot are a trade body for UK card issuers of which "traditional" credit cards by far make up the majority so I humbly suggest that they aren't necessarily subjective on this topic.

Also I think that that advice refers to prepaid UK credit cards not currency cards so for the most part isn't relevant. When thinking about prepaid Sterling credit cards I agree with most of it.

Agreed

 

[Techno]

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[Chockswahay]

I do like the look of the Revolut, but can't really see what it will do for me. At the moment I get up to 8 weeks interest free spending with Halifax plus consumer protection where relevant. I have also never had an issue with Halifax whereas I did have one or two with FairFX.

It's Horses for Courses I guess

 

[Deleted member 29692]

View attachment 87088

I think, but can't be arsed to look it up, that the £30k/£5k thing is something to do with money laundering regs and pretty much applies across the board to all cards.

 

[xsparks]

Tried and tested priceless info ,where else would it be so readily available?

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