@MrOneLung that's a great perk. Used to be like that at Barclays when I started in the late 80s, but they shut that benefit down years ago. A shame as the spread we have on Euros now is disgraceful.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
@MrOneLung that's a great perk. Used to be like that at Barclays when I started in the late 80s, but they shut that benefit down years ago. A shame as the spread we have on Euros now is disgraceful.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
thats interesting. I used Transferwise for the first time a couple of weeks back, and was quite impressed. They take their fee from the transaction which is otherwise done at interbank rate. Is that how these guys take their cut too?
The card is interesting too, although my personal account is nifty because it is multi currency so if I use the card in Germany it goes back to the Euro segment of my account. But periodically I have to convert other currencies into euros to feed that part of the account and that is done with a bank forex spread.
@MrOneLung that's a great perk. Used to be like that at Barclays when I started in the late 80s, but they shut that benefit down years ago. A shame as the spread we have on Euros now is disgraceful.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
@MrOneLung that's a great perk. Used to be like that at Barclays when I started in the late 80s, but they shut that benefit down years ago. A shame as the spread we have on Euros now is disgraceful.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
thats interesting. I used Transferwise for the first time a couple of weeks back, and was quite impressed. They take their fee from the transaction which is otherwise done at interbank rate. Is that how these guys take their cut too?
The card is interesting too, although my personal account is nifty because it is multi currency so if I use the card in Germany it goes back to the Euro segment of my account. But periodically I have to convert other currencies into euros to feed that part of the account and that is done with a bank forex spread.
Hi @PragueAddick haven't worked out how they do it yet, but Martin Lewis rates them & states that they give "perfect interbank rates" on all bar a couple of currencies at the moment.
@MrOneLung that's a great perk. Used to be like that at Barclays when I started in the late 80s, but they shut that benefit down years ago. A shame as the spread we have on Euros now is disgraceful.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
@MrOneLung that's a great perk. Used to be like that at Barclays when I started in the late 80s, but they shut that benefit down years ago. A shame as the spread we have on Euros now is disgraceful.
I'm using an app called Revolut, which gives me free international transfers, FX at interbank rates for £, $ and € and a Visa card which allows me those rates on purchases and cash withdrawals with no fees. GBPEUR currently 1.1534
Easy to set up and the card is an option. I ordered one and it was delivered the next day. Very handy.
thats interesting. I used Transferwise for the first time a couple of weeks back, and was quite impressed. They take their fee from the transaction which is otherwise done at interbank rate. Is that how these guys take their cut too?
The card is interesting too, although my personal account is nifty because it is multi currency so if I use the card in Germany it goes back to the Euro segment of my account. But periodically I have to convert other currencies into euros to feed that part of the account and that is done with a bank forex spread.
Hi @PragueAddick haven't worked out how they do it yet, but Martin Lewis rates them & states that they give "perfect interbank rates" on all bar a couple of currencies at the moment.
It seems that if you take more than £500 in one month they will charge you 2% for subsequent withdrawals, and I guess that most people on a 14 day holiday would fall into that net. But I think the bank cards charge that 2% anyway, and then a worse exchange rate, so these guys would still be a better deal. Interesting.
Had a look at the Halifax card T&Cs. Looks like a good product. However, there's one odd clause. You are not allowed to put the card into credit. So, you can't pre-load it with anticipated expenditure if you might go over your limit or if you expect the payment date to coincide with being away.
I have two euro accounts with different banks. Neither charge the dreaded handling fee for ATM withdrawals on my Visa debit cards nor for paying for goods & services. One (Cater Allen) has a peculiar feature which is that it is a "deferred" debit card. That is, I spend the money but they don't take it off my account until the statement is made up. That doesn't apply on cash withdrawals though. :-(
No not taxed. It is a capped amount per annum so probably not much of a saving for tax purposes. I suppose they can say they can sell the currency at whatever price they like.
Just got back from hols. £6.20 for a beer and a wine. This country, £9. Don't worry if a month ago it cost £5.50, it's still a lot cheaper so chill and enjoy
Had a look at the Halifax card T&Cs. Looks like a good product. However, there's one odd clause. You are not allowed to put the card into credit. So, you can't pre-load it with anticipated expenditure if you might go over your limit or if you expect the payment date to coincide with being away.
I have two euro accounts with different banks. Neither charge the dreaded handling fee for ATM withdrawals on my Visa debit cards nor for paying for goods & services. One (Cater Allen) has a peculiar feature which is that it is a "deferred" debit card. That is, I spend the money but they don't take it off my account until the statement is made up. That doesn't apply on cash withdrawals though. :-(
Easiest thing is to set up a payment in full agreement with issuer, so that minimal interest is acrued. Alternatively if your really savvy, you can work out how much youve spent and make a payment as soon as your holiday ends.
My bank here in Dubai sent me an email this morning offering loans up to 1m (200k gbp) to specifically take advantage of the low pound with free transfer costs to my UK bank account.
We've (I work for them) have been saying that for a while @Big_Bad_World but we've had to push the forecast out several times already. I have asked our traders if they'll sell me Euros at 1.42 now, for a premium, but they haven't taken me up on it yet!!
We've (I work for them) have been saying that for a while @Big_Bad_World but we've had to push the forecast out several times already. I have asked our traders if they'll sell me Euros at 1.42 now, for a premium, but they haven't taken me up on it yet!!
Appreciate that. Hopefully it wont need to be pushed out again and everyone can enjoy buying up the Disney Dollar looking currency for their holidays.
Another shout for the Halifax Clarity card. Been using it for years and I always pre-load to avoid interest charges totally (they charge interest from day 1 - no interest-free period).
Never had an issue pre-loading despite the T&C's.
The exchange rate always beats the exchange booths/banks too.
Another shout for the Halifax Clarity card. Been using it for years and I always pre-load to avoid interest charges totally (they charge interest from day 1 - no interest-free period).
Never had an issue pre-loading despite the T&C's.
The exchange rate always beats the exchange booths/banks too.
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The card is interesting too, although my personal account is nifty because it is multi currency so if I use the card in Germany it goes back to the Euro segment of my account. But periodically I have to convert other currencies into euros to feed that part of the account and that is done with a bank forex spread.
http://www.moneysavingexpert.com/credit-cards/prepaid-travel-cards
I have a separate bank account I use just for traveling, it let me withdraw money once a day, for free, anywhere in the world.
Their interests rates are very, very competetive too!
Thanks HuaXia! I don't know if they have any branches in London, but for people who travel a lot, it might be worth checking out!
You are not allowed to put the card into credit. So, you can't pre-load it with anticipated expenditure if you might go over your limit or if you expect the payment date to coincide with being away.
I have two euro accounts with different banks. Neither charge the dreaded handling fee for ATM withdrawals on my Visa debit cards nor for paying for goods & services. One (Cater Allen) has a peculiar feature which is that it is a "deferred" debit card. That is, I spend the money but they don't take it off my account until the statement is made up. That doesn't apply on cash withdrawals though. :-(
https://www.poundsterlinglive.com/eur/5334-gbp-to-eur-conversion-forecast-barc-343
I chose to pay in local currency when we arrive (pre Brexit)
Bugger
Never had an issue pre-loading despite the T&C's.
The exchange rate always beats the exchange booths/banks too.