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Money Money Money - Travel Forums - TravBuddy
Hi,
I just wanted to ask what is the best way to take money around the world?
debit card?
credit?
Cash?
I'll be going to a fair few countries, and I was wondering if you need a special debit card to get cash from ATM's.
HSBC do travel debit cards?
Would it be a good idea to get one of these or is there some other way i've completely overlooked
thanks
p.s I'm from the UK.
Lucas
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Open up a Nationwide Flex Account with a VISA debit card and just use that in ATM machines whenever you need cash.
They don't charge you the 2.5% loading + 2% transaction fee like other banks.
And (in my opinion) you get a better exchange rate using VISA than you do with Travelex/Forex, if you consider their processing fees, etc.
Check http://corporate.visa.com/pd/consumer_s … _rates.jsp for actual card rates and add this to your mobile bookmarks - http://visa.via.infonow.net/mobile/ Trust me, I'm tight.
Forgot to mention that the Flex account does pass on the VISA charge for some foreign transactions, its 0.84% but its only applied in some countries...
Full explanation here - http://www.nationwide.co.uk/current_acc … ctions.htm
Last edited by jockchristie (7-14-2009 10:44 AM)
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Agreed, Nationwide is by far the best.
Not only are there minimal or no service charges, the exchange rate is always bang on the money.
Oh and they gave me 2000quid back when some internet fraudster robbed my account - thank God!
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Cash and credit card as the likes of Mastercard and Visa automatically insure your money against fraud.
Debit cards can be used but the charges attached to them are just stupid.
I refuse to pay a fee for getting at my money.
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I have just (and I mean just) set up a Nationwide account, if you go with their "Flex Account" you get a card, cheque book and cheque guarantee limit tied to the card - this is through Visa - whilst Natwest themselves do not charge for cash withdrawals or over the counter payments Visa do, this is charged at 1% outside the "Visa Europe Zone".
If you set up a "Cash Card" with Natwest, it is run through Matercard instead of Visa, whilst you cannot pay for goods over the counter, nor do you recieve a cheque book or cheque guarantee limit with this card - there is no charge AT ALL from either Mastercard or Natwest wherever you use it.
Guess which I have gone for?!
Happy travels...
Last edited by dave_cambodia (7-15-2009 2:54 AM)
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Well i have a natwest cashcard alreay, looks like I won't need anything else.
cheers mate
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I have natwest and they DO charge me for every withdrawal.
ALSO, Natwests exchange rate is SHITE!
Seriously, every 100quid i withdraw i lose a couple of quid on the exchange rate alone.
So even if Natwest have dropped their withdrawal charge (which i never heard about) then they still charge more than Nationwide due to the exchange
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I always had either credit card or travelers cheques, just in the event of lost or stolen, it was not a complete loss, just a little time to cancel the card or get new cheques.
I do however always carry some cash (small bills) for tipping, taxis etc.
I usually take US currency as it seems to be accepted in all countries, but if in the UK i have pounds.
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So are we saying the nationwide debit card, a credit card, some travellers cheques and a bit of cash?
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To my knowledge the best current account with debit card is the Nationwide Flex Account and if you want a credit card, I've heard the best one to go for is the Santander Zero credit card.
I've never bothered with travellers cheques or credit cards, I just use my nationwide account to withdraw £50ish local currency and keep that in my wallet for beer/food, then take out more when that runs out.
I wouldn't recommend this practice on a card that charges you!
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Depends where you are going,on why you are travelling and how much you are intending to take, but I usually take a mixture of sorts.
Couple of hundred in local currency for on arrival :-)
2 x Credit Card,and pay it off when I get home.
I've got a Post Office one and there are no foreign currency charges on it, so you get a better exchange rate on it.
Past few trips I've tried to steer towards it for that reason, paying for almost anything I can on it.Don't have to have any account with them to get one.
Take my bank credit card as well as back up, as banks are getting quite reckless in freezing your cards while abroad as it shows up on some computer programme as suspicious activity.
Know folk that have been stuck with their cards blocked over a weekend, as it is up to you to get in touch with the bank, and it's a real problem,especially at the weekends and if there is a significant time delay.
Travel Money Card - favoured for going away on football trips.
Preload the money onto the card, saves you carrying a wad about with you when you are out on the p1ss.Will be replaced if you lose it.
Costs nothing to use it as a debit card, and only a couple of € to get more beer vouchers out of an ATM.
It can also be topped up from the UK while you are away if you start to get a bit skint :-)
Travellers Cheques - not keen on them, though having to use them this time because of currency restrictions.
However even going to Euroland it's worth getting one €50 AMEX Travellers Cheque, because once you've got it AMEX cover you for getting your passport and bank cards replaced if they are lost or stolen.
Sterling - always handy to carry some on your tail jsut in case, and always easiest to get exchanged.
Debit Card - only for extreme emergencies because of the charges.
Probably just added to your confusion :-)
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If you're staying in one particular country or region for a long time, it pays to check out whether your local bank has any international deals with other local banks in different countries.
As a Canadian, I use Scotiabank and HSBC.
I'm able to use HSBC atms in Australia and transfer funds between my Canadian account to my new Australia account free of charge.
My other option is to use my Scotiabank debit card on the Westpac atms here.
Scotiabank and Westpac have an agreement for atm use.
I don't remember if it's free or if there's a minimal charge though cuz I primarily use my HSBC now.
But if I were to use my Scotiabank card now, I'd definitely use a Westpac atm cuz it would be cheaper than using any other atm.
My emergency stash of cash is usually USD cuz it's widely accepted.
That I keep well hidden though.
My hiding place was so good that it actually got missed by a thief who managed to rummage through my main pack while on an overnight bus in Thailand.
Some other little things were stolen but he missed my main emergency stash.
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Quote: : Well i have a natwest cashcard alreay, looks like I won't need anything else.
cheers mate
I said NATIONWIDE cash card, not a debit card, you want the most basic Nationwide account, its a cash card, you cannot use it online or in shops, only ATM's - the exchange rate is pretty much bang on and there is no withdrawal fee or fee's of any kind....
I'll be taking the card, $1000 in T/C's and about £250 in cash
Last edited by dave_cambodia (7-16-2009 1:48 AM)
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Quote: : Quote: : Well i have a natwest cashcard alreay, looks like I won't need anything else.
cheers mate
I said NATIONWIDE cash card, not a debit card, you want the most basic Nationwide account, its a cash card, you cannot use it online or in shops, only ATM's - the exchange rate is pretty much bang on and there is no withdrawal fee or fee's of any kind....
I'll be taking the card, $1000 in T/C's and about £250 in cash
ha, ok mate.
I've just orderd my nationwide cash card.
Cheers.
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