Where is the best place for rate of exchange

[Arthritic Toe]

Not in my experience, as long as the cash issuing bank is with your debit card supplier i.e. maestro or visa, then that is part of the service of having that associated with your card. I would always check with your bank, but whenever I've withdrawn abroad, it's always on my statement with the exhange rate only, no additional charges.

http://www.natwest.com/personal/current-accounts/g4/cards/abroad.ashx

Mate, check out your own link! (see 'important information') Debit cards are just about the worst way to get cash because of the transaction charges. (Nationwide being an exception - although they now have a small charge too).

Transaction charges
Any transaction in a foreign currency is converted into sterling at our prevailing exchange rate and a transaction fee of 2.75% is subsequently applied for debit card transactions. This fee is known as the Exchange Rate Transaction Fee (ERTF).
The following charges are payable for the three different types of transaction carried out in a foreign currency or in Sterling:
Cash withdrawals - 2% (minimum £2, maximum £5) Purchase of currency or travellers' cheques using a Visa Debit card - 2% (minimum £2, maximum £5) Point of sale transactions - £1.25 per transaction

Using your Natwest debit card in a foreign ATM, you therefore pay 2.75% transaction fee + 2% cash withdrawal fee. At least Dick Turpin wore a mask.

 

[glos seagull]

Get a FairFX card - can save you loads - we used one in France this summer.

Travel Money Card - Best Exchange Rates - FairFX Currency Card

 

[Bold Seagull]

Mate, check out your own link! (see 'important information') Debit cards are just about the worst way to get cash because of the transaction charges. (Nationwide being an exception - although they now have a small charge too).

Not true. You do need to ensure your bank pays the transaction in the currency of your destination. For example, you can request your card is charged in Euro's and therefore you are not charged the loading fee. Retailers are advised to do this, but often don't as they make more from the transactions. On my HSBC account it is always cheaper to use the ATM than to exchange before travelling. Safer too. Travel with a wedge in your pocket, get mugged and that's that. I prefer to travel with the minimum I need to get by for say a couple of days.

 

[Arthritic Toe]

Not true. You do need to ensure your bank pays the transaction in the currency of your destination. For example, you can request your card is charged in Euro's and therefore you are not charged the loading fee. Retailers are advised to do this, but often don't as they make more from the transactions. On my HSBC account it is always cheaper to use the ATM than to exchange before travelling. Safer too. Travel with a wedge in your pocket, get mugged and that's that. I prefer to travel with the minimum I need to get by for say a couple of days.

You seem to be in denial here. You provided a link to the Natwest site that clearly describes the charges, but for some reason, you dont think they apply to you. I'm mystified.

 

[Bold Seagull]

You seem to be in denial here. You provided a link to the Natwest site that clearly describes the charges, but for some reason, you dont think they apply to you. I'm mystified.

I could be in denial about a lot of things I can assure you, but money exhange rates is not one of them!

I was wrong to post the Natwest link, it came up first in the google search, not a bank I'm with. But there are banks and debit cards out there that do offer you very good rates, and ultimately convenience.

 

[Shropshire Seagull]

If you use a Nationwide card [debit or credit], you get the commercial rate [always slightly better than tourist rate] AND no charges - of course if you use a credit card you will be charged interest from day one but that is peanuts if you settle when you get back.

 

[scooter1]

There's a small place opposite Canhams Butchers on Church Road Hove , which always seems to have the best rates when I've looked round .

Is the best place i've seen, and they give a decent rate when changing it back too