Hi all,

been a while since I went back to the UK and on previous trips we always had a healthy stash of pounds waiting for us in UK bank accounts. This trip though will be the first time that we have insufficient pounds waiting for us, so just wondering what the smartest thing to do is in terms of having access to funds in the UK?

Does it make sense to work out what I'll need and just do one big transfer from our Aus bank account to the UK via ozforex or someone like that? Or should I use one of these preloaded Travel cards? And load that up with currency? I have a Qantas Cash card tied to my frequent flyer, which would be the logical choice, with the bonus of earning points when I spend in the UK, but I don't know if that's the best way to go, or just one transfer and then just use UK bank cards?

Thanks in advance.

Personally, I'll try to load up with a credit card - provided the exchange rate is not too far off the benchmarks that banks/money-changers would offer. The credit card allows for 4x the points or something like that for overseas spending, so in a way, we get cash-back for our expenses.

Talking about loading up a credit card. My UK credit card kept having any credit balance transferred back to my standard bank account at the end of each month.
The HSBC say it is now policy to not allow a credit balance on a credit card!

So load up on a credit card and then pay it back when you get back to Aus? Won't I be stung on each and every credit card transaction though when in the UK? Adding up to a lot of fees and charges. Whereas if I make one transfer before I go, there's one lot of fees and that's it.

Fair point - regulations may have changed since the last I used it. If that's the case, no need to front load it - just use the card & pay the conversion (usually charged at an unjustifiably exorbitant premium) when you get back.

i move money back with Tranzfers (Ozforex) then use my UK account.

That's the way we're doing it. Can't remember the difference, but we were well ahead by transferring with OzForex rather that using our MasterCard.

If you can get Premier status with HSBC then you can have accounts in both countries and then transfers between those accounts are "seamless" (zero cost and instantaneous). Very decent at converting currencies too.