Best UK high street place to get some Euros from ?
May 22nd 2004, 10:31 am
#1
Guest
Posts: n/a
Best UK high street place to get some Euros from ?
Hi,
I'm off to France in July / Aug. The first time out as a full family hol for
3weeks
What is the best UK organisation to get some Euros from without being ripped
off on commissions.
If I used the Visa card for fuel , restuarants will Visa rip me off as well.
Is there a different rate from cash if I wanted to get maybe £600 in
travellers cheques ?
I haven't travelled on the continent ( on vacation ) for a long time
I'm off to France in July / Aug. The first time out as a full family hol for
3weeks
What is the best UK organisation to get some Euros from without being ripped
off on commissions.
If I used the Visa card for fuel , restuarants will Visa rip me off as well.
Is there a different rate from cash if I wanted to get maybe £600 in
travellers cheques ?
I haven't travelled on the continent ( on vacation ) for a long time
May 22nd 2004, 10:34 am
#2
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
On Sat, 22 May 2004 23:31:48 +0100, "Ebodsky" <had.enuf-of@spam>
wrote:
>What is the best UK organisation to get some Euros from without being ripped
>off on commissions.
Your bank account via an ATM in france.
>If I used the Visa card for fuel , restuarants will Visa rip me off as well.
They'll take a cut, but it'll be a little one - check with your bank
though, nationwide is best.
>Is there a different rate from cash if I wanted to get maybe £600 in
>travellers cheques ?
Forget travellers cheques, and forget taking euros.
Jim.
wrote:
>What is the best UK organisation to get some Euros from without being ripped
>off on commissions.
Your bank account via an ATM in france.
>If I used the Visa card for fuel , restuarants will Visa rip me off as well.
They'll take a cut, but it'll be a little one - check with your bank
though, nationwide is best.
>Is there a different rate from cash if I wanted to get maybe £600 in
>travellers cheques ?
Forget travellers cheques, and forget taking euros.
Jim.
May 22nd 2004, 6:58 pm
#3
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"Ebodsky" <had.enuf-of@spam> wrote in
news:[email protected]:
> Is there a different rate from cash if I wanted to get maybe £600 in
> travellers cheques ?
Yes there is. Cash transactions have the worst exchange rate. All other
methods have a better rate (usually the same in the same bank). But there's
another cost factor, commission. Traveller cheques are bad there. So:
Don't bring cash (except perhaps small amounts for the first hour), and
don't bring traveller cheques (except perhaps some 100 or 200 as backup)
As the other poster said, use bank machines as your main money source.
Credit cards are also a good idea.
Regards
--
Excessive verbing weirds the language.
<[email protected]>
http://www.wschwanke.de/ usenet_20031215 (AT) wschwanke (DOT) de
news:[email protected]:
> Is there a different rate from cash if I wanted to get maybe £600 in
> travellers cheques ?
Yes there is. Cash transactions have the worst exchange rate. All other
methods have a better rate (usually the same in the same bank). But there's
another cost factor, commission. Traveller cheques are bad there. So:
Don't bring cash (except perhaps small amounts for the first hour), and
don't bring traveller cheques (except perhaps some 100 or 200 as backup)
As the other poster said, use bank machines as your main money source.
Credit cards are also a good idea.
Regards
--
Excessive verbing weirds the language.
<[email protected]>
http://www.wschwanke.de/ usenet_20031215 (AT) wschwanke (DOT) de
May 22nd 2004, 7:55 pm
#4
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"Ebodsky" <had.enuf-of@spam> wrote:
>Hi,
>I'm off to France in July / Aug. The first time out as a full family hol for
>3weeks
>What is the best UK organisation to get some Euros from without being ripped
>off on commissions.
>If I used the Visa card for fuel , restuarants will Visa rip me off as well.
>Is there a different rate from cash if I wanted to get maybe £600 in
>travellers cheques ?
>I haven't travelled on the continent ( on vacation ) for a long time
I usually get 50 euros from a UK local post office and then
use ATM's abroad drawing 200 euros at a time on a HSBC
'Switch' card.
--
Mike, G4LTI
QSL manager for ZD8I
http://www.zd8i.net
>Hi,
>I'm off to France in July / Aug. The first time out as a full family hol for
>3weeks
>What is the best UK organisation to get some Euros from without being ripped
>off on commissions.
>If I used the Visa card for fuel , restuarants will Visa rip me off as well.
>Is there a different rate from cash if I wanted to get maybe £600 in
>travellers cheques ?
>I haven't travelled on the continent ( on vacation ) for a long time
I usually get 50 euros from a UK local post office and then
use ATM's abroad drawing 200 euros at a time on a HSBC
'Switch' card.
--
Mike, G4LTI
QSL manager for ZD8I
http://www.zd8i.net
May 22nd 2004, 9:00 pm
#5
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
On Sun, 23 May 2004 08:58:17 +0200, Wolfgang Schwanke <[email protected]>
wrote:
>Don't bring cash (except perhaps small amounts for the first hour),
I wouldn't even recommend this, you have to be pretty unlucky to find
a broken-working ATM and no exchnage counter. At Genoa once I landed
and the ATM was broken, there was an exhange desk so I could've
changed some of the sterling I had with me (or probably a Maestro
withdrawal aswell) but as it was a RyanAir flight I just walked into
town until I found one.
> and
>don't bring traveller cheques (except perhaps some 100 or 200 as backup)
Is it really worth paying 5 or 10 euro as insurance in case they get
stolen when you could just carry 75 Sterling say , no commission
costs, and you'll be able to use it when you get home.
>As the other poster said, use bank machines as your main money source.
>Credit cards are also a good idea.
Not for cash though unless you can avoid cash-advance fees.
Jim.
wrote:
>Don't bring cash (except perhaps small amounts for the first hour),
I wouldn't even recommend this, you have to be pretty unlucky to find
a broken-working ATM and no exchnage counter. At Genoa once I landed
and the ATM was broken, there was an exhange desk so I could've
changed some of the sterling I had with me (or probably a Maestro
withdrawal aswell) but as it was a RyanAir flight I just walked into
town until I found one.
> and
>don't bring traveller cheques (except perhaps some 100 or 200 as backup)
Is it really worth paying 5 or 10 euro as insurance in case they get
stolen when you could just carry 75 Sterling say , no commission
costs, and you'll be able to use it when you get home.
>As the other poster said, use bank machines as your main money source.
>Credit cards are also a good idea.
Not for cash though unless you can avoid cash-advance fees.
Jim.
May 22nd 2004, 9:04 pm
#6
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
Thanks Wolfgang, this is far easier than I thought.
Wheneve I go on the continent though business, I always get Euros handed to
me and I return the remainder with an expenses claim form.
I've bought small items like alcohol etc on my visa.
But I've never actually attempted to approach an ATM machine with my visa ,
or switch/maestro card. . If I was to use eg a HSBC ATM machine in Paris or
the Loire, would I get a totally French language menu or would it know my
card is English ?
I'm sure I could eventually find my way through the menus in French, but it
might be a bit frustrating for the people queing behind me !
But more importantly are we all concluding that the best & cheapest method
to manage finances is to start with about ?100 for necessities & road tolls,
but do the rest via my normal 'current account' debit card ?
thx
"Wolfgang Schwanke" <[email protected]> wrote in message
news:[email protected]...
> "Ebodsky" <had.enuf-of@spam> wrote in
> news:[email protected]:
> > Is there a different rate from cash if I wanted to get maybe £600 in
> > travellers cheques ?
> Yes there is. Cash transactions have the worst exchange rate. All other
> methods have a better rate (usually the same in the same bank). But
there's
> another cost factor, commission. Traveller cheques are bad there. So:
> Don't bring cash (except perhaps small amounts for the first hour), and
> don't bring traveller cheques (except perhaps some 100 or 200 as backup)
> As the other poster said, use bank machines as your main money source.
> Credit cards are also a good idea.
> Regards
> --
> Excessive verbing weirds the language.
> <[email protected]>
> http://www.wschwanke.de/ usenet_20031215 (AT) wschwanke (DOT) de
Wheneve I go on the continent though business, I always get Euros handed to
me and I return the remainder with an expenses claim form.
I've bought small items like alcohol etc on my visa.
But I've never actually attempted to approach an ATM machine with my visa ,
or switch/maestro card. . If I was to use eg a HSBC ATM machine in Paris or
the Loire, would I get a totally French language menu or would it know my
card is English ?
I'm sure I could eventually find my way through the menus in French, but it
might be a bit frustrating for the people queing behind me !
But more importantly are we all concluding that the best & cheapest method
to manage finances is to start with about ?100 for necessities & road tolls,
but do the rest via my normal 'current account' debit card ?
thx
"Wolfgang Schwanke" <[email protected]> wrote in message
news:[email protected]...
> "Ebodsky" <had.enuf-of@spam> wrote in
> news:[email protected]:
> > Is there a different rate from cash if I wanted to get maybe £600 in
> > travellers cheques ?
> Yes there is. Cash transactions have the worst exchange rate. All other
> methods have a better rate (usually the same in the same bank). But
there's
> another cost factor, commission. Traveller cheques are bad there. So:
> Don't bring cash (except perhaps small amounts for the first hour), and
> don't bring traveller cheques (except perhaps some 100 or 200 as backup)
> As the other poster said, use bank machines as your main money source.
> Credit cards are also a good idea.
> Regards
> --
> Excessive verbing weirds the language.
> <[email protected]>
> http://www.wschwanke.de/ usenet_20031215 (AT) wschwanke (DOT) de
May 22nd 2004, 9:09 pm
#7
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
On Sun, 23 May 2004 10:04:49 +0100, "Ebodsky" <had.enuf-of@spam>
wrote:
>But I've never actually attempted to approach an ATM machine with my visa ,
>or switch/maestro card. . If I was to use eg a HSBC ATM machine in Paris or
>the Loire, would I get a totally French language menu or would it know my
>card is English ?
It'll either be straight to English or give you a choice, depending on
if it recognises it as an English card or just a "foreign" one.
>But more importantly are we all concluding that the best & cheapest method
>to manage finances is to start with about ?100 for necessities & road tolls,
>but do the rest via my normal 'current account' debit card ?
I wouldn't bother starting with the 100, unless someone can say
categorically that there are no ATM's in which ever point of entry
you're using.
Jim/
wrote:
>But I've never actually attempted to approach an ATM machine with my visa ,
>or switch/maestro card. . If I was to use eg a HSBC ATM machine in Paris or
>the Loire, would I get a totally French language menu or would it know my
>card is English ?
It'll either be straight to English or give you a choice, depending on
if it recognises it as an English card or just a "foreign" one.
>But more importantly are we all concluding that the best & cheapest method
>to manage finances is to start with about ?100 for necessities & road tolls,
>but do the rest via my normal 'current account' debit card ?
I wouldn't bother starting with the 100, unless someone can say
categorically that there are no ATM's in which ever point of entry
you're using.
Jim/
May 22nd 2004, 9:31 pm
#8
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
Check with your bank, but you will probably be able to use your
ordinary cashcard in cash machines on the continent - I've used mine
in France, Spain, the Netherlands, Germany, Australia, Canada. You can
also get cash on your credit card, but would have to pay the normal
cash withdrawal charge - in which case you would be well advised to
get a fair amount to last a while.
The main advantage is ease of use - I suspect any variations in
exchange rates would be more than made up for by not having to hunt
around finding somewhere, comparing rates, queueing and all the rest
of it. Plus, of course, credit card bills take a while to come
through..
I haven't used traveller's cheques in years.
If you need some Euros for reassurance before you leave, try the Post
Office - but you might find your own bank putting on an extra charge
for not buying the foreign currency from them.
PJW
On Sat, 22 May 2004 23:31:48 +0100, "Ebodsky" <had.enuf-of@spam>
wrote:
>Hi,
>I'm off to France in July / Aug. The first time out as a full family hol for
>3weeks
>What is the best UK organisation to get some Euros from without being ripped
>off on commissions.
>If I used the Visa card for fuel , restuarants will Visa rip me off as well.
>Is there a different rate from cash if I wanted to get maybe £600 in
>travellers cheques ?
>I haven't travelled on the continent ( on vacation ) for a long time
ordinary cashcard in cash machines on the continent - I've used mine
in France, Spain, the Netherlands, Germany, Australia, Canada. You can
also get cash on your credit card, but would have to pay the normal
cash withdrawal charge - in which case you would be well advised to
get a fair amount to last a while.
The main advantage is ease of use - I suspect any variations in
exchange rates would be more than made up for by not having to hunt
around finding somewhere, comparing rates, queueing and all the rest
of it. Plus, of course, credit card bills take a while to come
through..
I haven't used traveller's cheques in years.
If you need some Euros for reassurance before you leave, try the Post
Office - but you might find your own bank putting on an extra charge
for not buying the foreign currency from them.
PJW
On Sat, 22 May 2004 23:31:48 +0100, "Ebodsky" <had.enuf-of@spam>
wrote:
>Hi,
>I'm off to France in July / Aug. The first time out as a full family hol for
>3weeks
>What is the best UK organisation to get some Euros from without being ripped
>off on commissions.
>If I used the Visa card for fuel , restuarants will Visa rip me off as well.
>Is there a different rate from cash if I wanted to get maybe £600 in
>travellers cheques ?
>I haven't travelled on the continent ( on vacation ) for a long time
May 22nd 2004, 9:41 pm
#9
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"Ebodsky" <had.enuf-of@spam> wrote in news:_F_rc.15$VP5.0@newsfe4-win:
> But I've never actually attempted to approach an ATM machine with my
> visa , or switch/maestro card.
The Maestro card is probably preferrable, because Visa could ask for higher
commission. If you can, bring both, and try Maestro first. If that fails
you can still use the Visa.
> If I was to use eg a HSBC ATM machine
> in Paris or the Loire, would I get a totally French language menu or
> would it know my card is English ?
It'll probably first show a language choice menu.
Press the British flag. :-) Practically all ATMs have this option.
> But more importantly are we all concluding that the best & cheapest
> method to manage finances is to start with about ?100 for necessities
> & road tolls, but do the rest via my normal 'current account' debit
> card ?
Yup
Regards
--
Excessive verbing weirds the language.
<[email protected]>
http://www.wschwanke.de/ usenet_20031215 (AT) wschwanke (DOT) de
> But I've never actually attempted to approach an ATM machine with my
> visa , or switch/maestro card.
The Maestro card is probably preferrable, because Visa could ask for higher
commission. If you can, bring both, and try Maestro first. If that fails
you can still use the Visa.
> If I was to use eg a HSBC ATM machine
> in Paris or the Loire, would I get a totally French language menu or
> would it know my card is English ?
It'll probably first show a language choice menu.
Press the British flag. :-) Practically all ATMs have this option.
> But more importantly are we all concluding that the best & cheapest
> method to manage finances is to start with about ?100 for necessities
> & road tolls, but do the rest via my normal 'current account' debit
> card ?
Yup
Regards
--
Excessive verbing weirds the language.
<[email protected]>
http://www.wschwanke.de/ usenet_20031215 (AT) wschwanke (DOT) de
May 23rd 2004, 12:44 am
#10
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"Ebodsky" <had.enuf-of@spam> wrote in message
news:[email protected]...
> Hi,
> I'm off to France in July / Aug. The first time out as a full family hol for
> 3weeks
> What is the best UK organisation to get some Euros from without being ripped
> off on commissions.
> If I used the Visa card for fuel , restuarants will Visa rip me off as well.
You've got a while before you go, so open a Nationwide flex account. Put your
holiday spending money into this and withdraw from ATM's abroad. Nationwide
charge no exchange rate markup, you'll get a rate very close to the interbank
rate. You could also take a Nationwide credit card for purchases as they don't
mark up the VISA exchange rate (which is about 0.5% off the interbank rate in
Europe) so again you'll get a good rate.
Most other UK banks/bs's charge an exchange rate markup (usually 2.75%), some
also charge a cash withdrawal fee of around 1.5% so you lose over 4% every time
you make a withdrawal. Most UK foreign exchange places have a 3-5% exchange rate
markup hidden in their rate, and some charge "commission" on top of this.
When paying by card, make sure you get billed in the local currency as there's a
new way to rip off card customers called dynamic currency conversion, where the
currency is converted to pounds at the point of sale - but using a rate which
includes a big exchange rate markup (see the recent thread in this group). But
you have the right to insist on being billed in the local currency.
--
Andy
news:[email protected]...
> Hi,
> I'm off to France in July / Aug. The first time out as a full family hol for
> 3weeks
> What is the best UK organisation to get some Euros from without being ripped
> off on commissions.
> If I used the Visa card for fuel , restuarants will Visa rip me off as well.
You've got a while before you go, so open a Nationwide flex account. Put your
holiday spending money into this and withdraw from ATM's abroad. Nationwide
charge no exchange rate markup, you'll get a rate very close to the interbank
rate. You could also take a Nationwide credit card for purchases as they don't
mark up the VISA exchange rate (which is about 0.5% off the interbank rate in
Europe) so again you'll get a good rate.
Most other UK banks/bs's charge an exchange rate markup (usually 2.75%), some
also charge a cash withdrawal fee of around 1.5% so you lose over 4% every time
you make a withdrawal. Most UK foreign exchange places have a 3-5% exchange rate
markup hidden in their rate, and some charge "commission" on top of this.
When paying by card, make sure you get billed in the local currency as there's a
new way to rip off card customers called dynamic currency conversion, where the
currency is converted to pounds at the point of sale - but using a rate which
includes a big exchange rate markup (see the recent thread in this group). But
you have the right to insist on being billed in the local currency.
--
Andy
May 23rd 2004, 12:47 am
#11
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"P J Wallace" <[email protected]> wrote in message
news:[email protected]...
> If you need some Euros for reassurance before you leave, try the Post
> Office - but you might find your own bank putting on an extra charge
> for not buying the foreign currency from them.
How could your own bank charge you for buying currency at a post office??
--
Andy
news:[email protected]...
> If you need some Euros for reassurance before you leave, try the Post
> Office - but you might find your own bank putting on an extra charge
> for not buying the foreign currency from them.
How could your own bank charge you for buying currency at a post office??
--
Andy
May 23rd 2004, 12:55 am
#12
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"Wolfgang Schwanke" <[email protected]> wrote in message
news:[email protected]...
> "Ebodsky" <had.enuf-of@spam> wrote in news:_F_rc.15$VP5.0@newsfe4-win:
> > But I've never actually attempted to approach an ATM machine with my
> > visa , or switch/maestro card.
> The Maestro card is probably preferrable, because Visa could ask for
higher
> commission. If you can, bring both, and try Maestro first. If that fails
> you can still use the Visa.
Get a Nationwide card: no charges above what you would pay in the UK.
news:[email protected]...
> "Ebodsky" <had.enuf-of@spam> wrote in news:_F_rc.15$VP5.0@newsfe4-win:
> > But I've never actually attempted to approach an ATM machine with my
> > visa , or switch/maestro card.
> The Maestro card is probably preferrable, because Visa could ask for
higher
> commission. If you can, bring both, and try Maestro first. If that fails
> you can still use the Visa.
Get a Nationwide card: no charges above what you would pay in the UK.
May 23rd 2004, 1:47 am
#13
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
in article [email protected], Jim Ley at
[email protected] wrote on 05/23/2004 10:00 AM:
>> As the other poster said, use bank machines as your main money source.
>> Credit cards are also a good idea.
>
> Not for cash though unless you can avoid cash-advance fees.
However, one way to get around this 'fee' is to simply deposit money into
your credit card account before you leave your own country, in roughly the
amount that you anticipate that you're going to spend on the trip through
ATM withdrawals. Then use your credit card at the ATM machine to withdraw
from the cash that you have on deposit with your credit card company. That
way, there'll be no fees for _either_ cash-advances _or_ for using an ATM
not authorized by your bank.
HH
[email protected] wrote on 05/23/2004 10:00 AM:
>> As the other poster said, use bank machines as your main money source.
>> Credit cards are also a good idea.
>
> Not for cash though unless you can avoid cash-advance fees.
However, one way to get around this 'fee' is to simply deposit money into
your credit card account before you leave your own country, in roughly the
amount that you anticipate that you're going to spend on the trip through
ATM withdrawals. Then use your credit card at the ATM machine to withdraw
from the cash that you have on deposit with your credit card company. That
way, there'll be no fees for _either_ cash-advances _or_ for using an ATM
not authorized by your bank.
HH
May 23rd 2004, 4:50 am
#14
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"Hawth Hill" <[email protected]> wrote in message
news:BCD66A08.3A9DA%[email protected]...
> >> As the other poster said, use bank machines as your main money source.
> >> Credit cards are also a good idea.
> >
> > Not for cash though unless you can avoid cash-advance fees.
> However, one way to get around this 'fee' is to simply deposit money into
> your credit card account before you leave your own country, in roughly the
> amount that you anticipate that you're going to spend on the trip through
> ATM withdrawals. Then use your credit card at the ATM machine to withdraw
> from the cash that you have on deposit with your credit card company. That
> way, there'll be no fees for _either_ cash-advances _or_ for using an ATM
> not authorized by your bank.
That won't work if you make any purchases before your cash advances - any
purchases will gobble up your advance payments too. Also it depends on your
credit card rules - some have a cash withdrawal fee which you are charged
whether or not you are in credit. In any case you'll get hit with any foreign
exchange markup your credit card charges.
--
Andy
news:BCD66A08.3A9DA%[email protected]...
> >> As the other poster said, use bank machines as your main money source.
> >> Credit cards are also a good idea.
> >
> > Not for cash though unless you can avoid cash-advance fees.
> However, one way to get around this 'fee' is to simply deposit money into
> your credit card account before you leave your own country, in roughly the
> amount that you anticipate that you're going to spend on the trip through
> ATM withdrawals. Then use your credit card at the ATM machine to withdraw
> from the cash that you have on deposit with your credit card company. That
> way, there'll be no fees for _either_ cash-advances _or_ for using an ATM
> not authorized by your bank.
That won't work if you make any purchases before your cash advances - any
purchases will gobble up your advance payments too. Also it depends on your
credit card rules - some have a cash withdrawal fee which you are charged
whether or not you are in credit. In any case you'll get hit with any foreign
exchange markup your credit card charges.
--
Andy
May 23rd 2004, 5:31 am
#15
Guest
Posts: n/a
Re: Best UK high street place to get some Euros from ?
"Andy Pandy" <[email protected] > wrote in
message news:[email protected]...
> "Ebodsky" <had.enuf-of@spam> wrote in message
> news:[email protected]...
> > Hi,
> >
> > I'm off to France in July / Aug. The first time out as a full family hol
for
> > 3weeks
> >
> > What is the best UK organisation to get some Euros from without being
ripped
> > off on commissions.
> >
> > If I used the Visa card for fuel , restuarants will Visa rip me off as
well.
> You've got a while before you go, so open a Nationwide flex account. Put
your
> holiday spending money into this and withdraw from ATM's abroad.
Nationwide
> charge no exchange rate markup, you'll get a rate very close to the
interbank
> rate. You could also take a Nationwide credit card for purchases as they
don't
> mark up the VISA exchange rate (which is about 0.5% off the interbank rate
in
> Europe) so again you'll get a good rate.
> Most other UK banks/bs's charge an exchange rate markup (usually 2.75%),
some
> also charge a cash withdrawal fee of around 1.5% so you lose over 4% every
time
> you make a withdrawal. Most UK foreign exchange places have a 3-5%
exchange rate
> markup hidden in their rate, and some charge "commission" on top of this.
> When paying by card, make sure you get billed in the local currency as
there's a
> new way to rip off card customers called dynamic currency conversion,
where the
> currency is converted to pounds at the point of sale - but using a rate
which
> includes a big exchange rate markup (see the recent thread in this group).
But
> you have the right to insist on being billed in the local currency.
> --
> Andy
Good advice. I used my Nationwide Debit card in Spain and at the same time
used my HSBC Debit card in a 'hole in the wall'.
There really is a difference ! Enough to buy a few more rounds of drinks.
message news:[email protected]...
> "Ebodsky" <had.enuf-of@spam> wrote in message
> news:[email protected]...
> > Hi,
> >
> > I'm off to France in July / Aug. The first time out as a full family hol
for
> > 3weeks
> >
> > What is the best UK organisation to get some Euros from without being
ripped
> > off on commissions.
> >
> > If I used the Visa card for fuel , restuarants will Visa rip me off as
well.
> You've got a while before you go, so open a Nationwide flex account. Put
your
> holiday spending money into this and withdraw from ATM's abroad.
Nationwide
> charge no exchange rate markup, you'll get a rate very close to the
interbank
> rate. You could also take a Nationwide credit card for purchases as they
don't
> mark up the VISA exchange rate (which is about 0.5% off the interbank rate
in
> Europe) so again you'll get a good rate.
> Most other UK banks/bs's charge an exchange rate markup (usually 2.75%),
some
> also charge a cash withdrawal fee of around 1.5% so you lose over 4% every
time
> you make a withdrawal. Most UK foreign exchange places have a 3-5%
exchange rate
> markup hidden in their rate, and some charge "commission" on top of this.
> When paying by card, make sure you get billed in the local currency as
there's a
> new way to rip off card customers called dynamic currency conversion,
where the
> currency is converted to pounds at the point of sale - but using a rate
which
> includes a big exchange rate markup (see the recent thread in this group).
But
> you have the right to insist on being billed in the local currency.
> --
> Andy
Good advice. I used my Nationwide Debit card in Spain and at the same time
used my HSBC Debit card in a 'hole in the wall'.
There really is a difference ! Enough to buy a few more rounds of drinks.
