Cash or Card?

crispybug2

Off to France this weekend, just wondered whether it is more cost effective to change money into Euros or use my Visa card?

Which one has the higher charges for use?

Only a Ginger

Depends if your bank charges you for using your card?

My Nationwide Credit Card worked out a much better exchange rate when I went (last year).

RideOnTime

card Card CARD

pblakeney

Cash for pocket money, small items and bills.
Card for larger bills.

orraloon

Take your cash out of the ATM in France. Don't change £ notes to € at bureau this side, you'll be shafted on exchange rates. Minimise the number of withdrawals to reduce effect of transaction fees.

VTech

Only a Ginger wrote:

Depends if your bank charges you for using your card?

My Nationwide Credit Card worked out a much better exchange rate when I went (last year).

As above, depends on your card. I travel a lot so have different cards for different regions. If you want security use a card but do check the rates as many cost you so much more than you would think.
An example from my accounting.

My personal Lloyds CC spent $800 on a jacket in vegas in november which translated to £500
Actual cost was £548 + £28.16 fee from bank and £1.75 transaction fee.

Lloyds Business Card spent $1016 on a meal in vegas, translated fee is £635 with actual charge of £642.00

hamish_mctavish

The cheapest way to buy things abroad is by using a card with low or no fees. Have a look at this article for more info.

BelgianBeerGeek

If you must exchange into Euro here the Post Office is good (or used to be - worth checking)
As above, check with your card provider. Some have no commission abroad, some do. If you are somewhere and paying by card and the store asks if you want to pay in Euro or Sterling, bear in mind the £ is usually in their rate, and can be a rip-off. They are banking on you opting for £ without thinking.

ddraver

orraloon wrote:

Take your cash out of the ATM in France. Don't change £ notes to € at bureau this side, you'll be shafted on exchange rates. Minimise the number of withdrawals to reduce effect of transaction fees.

That's what I do...

If you travel a lot consider looking into a card with no fees or an internet FX account (e.g. I use Skrill when I'm back home in the UK)

orraloon

crispybug2 wrote:

Off to France this weekend

As an aside, if you visit Majestic stores in Calais for your booze cruise top up, found it best to pay in sterling by UK cheque. That way you get their £ quoted prices without taking a hit on exchange rates. Nor pick up the foreign transaction fee from the bank. I use Nationwide Flex account for that and for cash withdrawals in Europe.

CiB

Thomas Cook do a travel card that you load up with cash (GBP converted to target currency) at this end and then use it abroad as you would your own card in the UK; no fees except where the ATM charges anyway, and these are clearly marked usually. When you get back close the card and get any remaining money back.

Used the service a few times and it works well.

laurentian

I occasionally hear that Money Saving Expert chap (Martin Lewis??) on the radio and have heard him talk about this a few times. I'm sure there are a couple of cards with no fees in Europe (Halifax have one from memory) - I dare say you can find out on the website moneysavingexpert.com

Anonymous

Pre-buying cash at Moneycorp gives quite competitive rates as well.

veronese68

laurentian wrote:

I occasionally hear that Money Saving Expert chap (Martin Lewis??) on the radio and have heard him talk about this a few times. I'm sure there are a couple of cards with no fees in Europe (Halifax have one from memory) - I dare say you can find out on the website moneysavingexpert.com

Agree with this. We have a Halifax card we only use on holiday. Also check his website for the cheapest place to get cash as it's always good to have some cash as well.