UK to Texas - what's it really like?
Aug 17th 2016, 7:40 pm
#271
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: UK to Texas - what's it really like?
According to the visa gift card site, you can pay at the pump but it will block off a certain amount on the card - just like a normal visa card. If your gift card balance is too low to do this then you're right, you would need to go to the cashier.
Aug 17th 2016, 7:46 pm
#273
Forum Regular
Thread Starter
Joined: Feb 2009
Posts: 199
Re: UK to Texas - what's it really like?
No company credit card I'm afraid, just expenses to be claimed afterwards, and only for hubby of course... Usually if we travel we pre-order our foreign currency from I think Travelex and then take with us however much we think we'll need on the day. Never had a problem with that so far but I think we'll do the credit card thing for this trip.
10 days to go! I'm sure we'll take a few days to adjust, jet lag and cultural differences and all that but I seriously can't wait! Gotta still finalise out to-do lists etc, very exciting!
10 days to go! I'm sure we'll take a few days to adjust, jet lag and cultural differences and all that but I seriously can't wait! Gotta still finalise out to-do lists etc, very exciting!
Aug 17th 2016, 7:48 pm
#274
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: UK to Texas - what's it really like?
Just for my own interest...
Barclaycard and First Direct Visa will both charge 2.99% on all non-sterling transactions. First Direct had a £3 minimum transaction fee for cash machines.
Using the Visa European processing site (linked to from First Direct Visa) https://www.visaeurope.com/making-pa...exchange-rates
Spending $100 would cost you £80.07 at today's rate and including the 2.99% fee.
Using Travelex at the airport to get cash $100 would cost you £69.84.
Both Barclaycard and First Direct visa wrote on their sites that the 2.99% transaction fees are waived only if you have a promotional offer on the credit card. The details for foreign transactions can be found on the back of the statements apparently.
Barclaycard and First Direct Visa will both charge 2.99% on all non-sterling transactions. First Direct had a £3 minimum transaction fee for cash machines.
Using the Visa European processing site (linked to from First Direct Visa) https://www.visaeurope.com/making-pa...exchange-rates
Spending $100 would cost you £80.07 at today's rate and including the 2.99% fee.
Using Travelex at the airport to get cash $100 would cost you £69.84.
Both Barclaycard and First Direct visa wrote on their sites that the 2.99% transaction fees are waived only if you have a promotional offer on the credit card. The details for foreign transactions can be found on the back of the statements apparently.
..... They ain't gonna stay in business very long at thay rate given that the mid sterling-dollar rate is about $1 for every 76p ($1.30/£1). 
..... I suspect that she has used the rate at which they will take dollars and give you pounds, so if the spread is symmetrical around the mid market rate, they'll give you $1 for roughly every 85p ($100 for £85), or about 5/80ths (6.25%) greater cost that using a credit card. 
Last edited by Pulaski; Aug 17th 2016 at 7:58 pm.
Aug 17th 2016, 7:58 pm
#275
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: UK to Texas - what's it really like?
Good catch!I used the wrong travelex site...
using the UK site (!!) https://checkout.travelex.co.uk/gb
exchange rate is 1.2689 USD U.S. Dollar = 1 GBP
Visa site:
Currencies fluctuate every day. The rate shown applies to transactions processed by Visa Europe on 17 August 2016 with a currency conversion fee of 2.99%
100.00 United States Dollar = 80.07 Pound Sterling
* * * * *
1 United States Dollar = 0.8006685843 Pound Sterling
- Or -
1 Pound Sterling = 1.2489562094 United States Dollar
Aug 17th 2016, 8:06 pm
#276
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Joined: Feb 2015
Location: New Jersey, USA
Posts: 566
Re: UK to Texas - what's it really like?
On a side note, MasterCards tend to give a slightly better foreign exchange rate than Visa (or Amex) but the difference is minimal and it can be worse at times too.
Aug 17th 2016, 8:09 pm
#277
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: UK to Texas - what's it really like?
My husband was back in the UK for work last week, used our Chase cards (which have no foreign transaction fee) and the rates were within 0.5% of the mid-market rate - what were you seeing? Either way it's a lot cheaper and less hassle than exchanging cash!
On a side note, MasterCards tend to give a slightly better foreign exchange rate than Visa (or Amex) but the difference is minimal and it can be worse at times too.
On a side note, MasterCards tend to give a slightly better foreign exchange rate than Visa (or Amex) but the difference is minimal and it can be worse at times too.
Aug 17th 2016, 8:10 pm
#278
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: UK to Texas - what's it really like?
Exactly! People often get hung up on the fees and charges for using a credit card overseas, but overlook the fact that the underlying exchange rate is often extremely close to the mid rate.
Aug 17th 2016, 8:14 pm
#279
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Joined: Feb 2015
Location: New Jersey, USA
Posts: 566
Re: UK to Texas - what's it really like?
Ignoring the convenience factor, using a credit card with no foreign transaction fees is the cheapest way to spend money abroad.
I can't be doing with cash, I think I was given $80 last Christmas and most of it is still in my wallet!
I can't be doing with cash, I think I was given $80 last Christmas and most of it is still in my wallet!
Aug 17th 2016, 8:16 pm
#280
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: UK to Texas - what's it really like?
so is it close? I've just posted the visa rate for today. I chose First Direct and Barclays just because they are accounts I am familiar with but both are charging 2.99% transaction fees as a norm.
Aug 17th 2016, 8:18 pm
#281
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: UK to Texas - what's it really like?
Until little Miss P was old enough to receive pocket money I used to make $20 last about 3 months, and mostly I gave it away $2-$4 at a time in cash tips for lunch or at cafeterias or buffet restaurants.
Aug 17th 2016, 8:20 pm
#282
Austin. TX.
Joined: Sep 2013
Posts: 5,930
Re: UK to Texas - what's it really like?
Aug 17th 2016, 8:28 pm
#283
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: UK to Texas - what's it really like?
If the spread is 8%, and the midrate is $1.30, then you get $1.20 for every £1. Or $1 costs you 83p
If the spread is say 1%, and you pay a 3% fee then you get $1.25 for every £1, or $1 costs you 80p.
(All numbers rounded to the nearest 1p.)
It's worth checking what your bank charges for foreign cc transactions, but in my experience both British and US credit cards are a pretty good deal when compared to obtaining and/or carrying cash. The safety and protection of using a card is a welcome bonus.
Aug 17th 2016, 8:42 pm
#284
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Re: UK to Texas - what's it really like?
When in the UK earlier this year, I used my VISA debit card to withdraw cash from an ATM. The exchange rate was within 1c of the mid-rate but MY bank charged me $5 ATM fee. Worked out around 7% for a £50 withdrawal. When I used the card for purchases, I was charged 3%. I made a total of 5 transactions, 2 of which were in Toronto airport on my way home.
Aug 18th 2016, 2:55 am
#285
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Location: Houston, TX - Officially Not Shit since 2009
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