Got something to say or just want fewer pesky ads? Join us... 😊

[Finance] How do you pay for things abroad?



Icy Gull

Back on the rollercoaster
Jul 5, 2003
72,015
Does anyone still take travellers cheques? Can’t even cash them in banks in the States without a US bank account I believe? I have given up on them and use a card now.

Taking cash is a mugs game as you get crucified on rip of rates buying here or exchanging abroad in my experience and you can pay for most things on a card so only need limited foreign currency anyway.

Most UK credit and debit cards add a foreign transaction fee which can add up

Personally found that Monzo (now with a non chargeable £200 a month limit for cash withdrawals I think?) or Caxton are the best for use abroad but am wondering if someone knows better?

Monzo seem to give a better rate than Caxton and I do have a Nationwide card that only charges for cash withdrawals and also give a good rate. Don’t think the charge free payments work outside of Europe on Nationwide.

Waits to hear of a better way to do it......
 


dazzer6666

Well-known member
NSC Patreon
Mar 27, 2013
52,011
Burgess Hill
I'm a bit lazy to be honest - not cost-efficient I know but I usually take a bit of currency with me, get some cash from an ATM locally for smaller purchases if I need more and use a credit card for the rest. Overall the charges rarely to add up to much compared with the overall cost of the holiday and it keeps things simple.
 




happypig

Staring at the rude boys
May 23, 2009
7,935
Eastbourne
I have Revolut and Starling accounts.

Can manage them from the phone, pay and withdraw from ATM in local currency (ie without conversion so Revolut/Starling do the conversion at a better rate).
 


Shropshire Seagull

Well-known member
Nov 5, 2004
8,477
Telford
I got a Halifax VISA credit card a few years back - all exchange rates done at standard commercial [not tourist] rates - no transaction fees + best of all, you can make a cash withdrawal from an ATM abroad and first month is interest free. So used for a bit of pocket-cash, bought everything else on the card. Best rate / low cost option I could find - no idea if the same deal is still available - I think it was called the "Classic".

I have a Nationwide one as backup - that is also commercial, not tourist rate exchange but doesn't have the interest free cash option.
 






Bozza

You can change this
Helpful Moderator
Jul 4, 2003
55,575
Back in Sussex
I'm a bit lazy to be honest - not cost-efficient I know but I usually take a bit of currency with me, get some cash from an ATM locally for smaller purchases if I need more and use a credit card for the rest. Overall the charges rarely to add up to much compared with the overall cost of the holiday and it keeps things simple.

I’ve always been the same, just using my regular day-to-day card as it’s the most convenient and had the same mindset as you re: charges.

However I totted up the forex charges after three weeks in California last Summer and even though quite a few holiday elements had been pre-booked and paid in advance, I still incurred £150 in extra charges.

I’m now using some form of MBNA card that has no foreign transaction charges. So I still use a card, just not my regular one which I use for rewards.
 


TWOCHOICEStom

Well-known member
Sep 22, 2007
10,546
Brighton
Tranferwise is a fantastic way of using card abroad if you were to go to somewhere like Sweden where spending cash is very very VERY difficult.

Lets you hold money in different currencies, transfer and convert easily and the fees are lower than anything else I've tried.


Here's a referral link if anyone is interested ;)
https://transferwise.com/u/thomasc430
 




surrey jim

Not in Surrey
Aug 2, 2005
18,085
Bevendean
Revolut account, someone on here recommended a while back, have used in Turkey and EU without issue. You load with funds then convert GBP to the local currency you wish, after that all payments made on card abroad debit your foreign currency balance.
 




Gazwag

5 millionth post poster
Mar 4, 2004
30,093
Bexhill-on-Sea
I did use my Lloyds Amex Avios or MasterCard Avios both of which were free for foreign payments, they have just stopped though so lost my Amex and now have a normal MasterCard. I have therefore now got a post office mastercard which has no foreign charges, you can also get foreign cash on it at a post office with no charges.
 




Bob!

Coffee Buyer
Jul 5, 2003
11,062
I got a Halifax VISA credit card a few years back - all exchange rates done at standard commercial [not tourist] rates - no transaction fees + best of all, you can make a cash withdrawal from an ATM abroad and first month is interest free. So used for a bit of pocket-cash, bought everything else on the card. Best rate / low cost option I could find - no idea if the same deal is still available - I think it was called the "Classic".

I have a Nationwide one as backup - that is also commercial, not tourist rate exchange but doesn't have the interest free cash option.

I have the Halifax Clarity card as above. Usually take a few euros for tips etc. after finding the best local rate.
 








Paulie Gualtieri

Bada Bing
NSC Patreon
May 8, 2018
9,056
Just back from Menorca, took a small amount of euros but mostly used my Starling bank card, it was 0.1p on the best exchange rates at the time, convenient and liveable


Sent from my iPhone using Tapatalk
 


Peteinblack

Well-known member
NSC Patreon
Jun 3, 2004
3,583
Bath, Somerset.
Caxton Card every time.

Top it up online direct from my bank account, and then either use it to pay-as-I-go like a normal Debit card, or make cash withdrawals in the local currency.
 


BNthree

Plastic JCL
Sep 14, 2016
10,778
WeHo
Take some cash, use my Monzo card or use a FairFX card which is a prepaid debit card that normally has better exchange rate than high street/bank cards.
 


Publius Ovidius

Well-known member
Jul 5, 2003
45,919
at home
Halifax transaction charge free credit card.

No transaction fees
No currency conversion fees

Spot on!
 






The_Viper

Well-known member
Oct 10, 2010
4,345
Charlotte, NC
Credit card get one with a fee free abroad deal and you're gold. Mainly because if shit was to hit the fan and someone was to get your details sorting out CC fraud is dead easy.
 



Paying the bills

Latest Discussions

Paying the bills

Paying the bills

Paying the bills

Albion and Premier League latest from Sky Sports


Top
Link Here