I want to take some cash on holiday to avoid getting stung unnecessary bank charges when using my card abroad. Last year the charges came to £50+ which I felt was a bit silly. Anyway, I've had a nose around and can only find relevant information taking cash outside/into the EU. I'm travelling only within EU countries for my upcoming holiday, but cannot find any official 'legal' amounts. Does anyone know?
Taking cash abroad
- Thread starter regulus
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![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Use a credit card with favourable foreign exchange rates. A Halifax Clarity card will charge you 0% fee on purchases AND 0% fee on cash withdrawls and the exchange rate is at the Visa Wholesale rate - one of the best rates you can get.
The exchange rate benefit alone makes it a far far far better bet than taking cash.
The only catch is that with a cash withdrawl you pay interest from the dayou you take the money out but that works out at about a 1% charge if you pay it off within a month. The saving you'll make from not being ripped off by currency exchange places is far far in excess of this 1%.
Plus its totally secure as well, no need to carry loads of cash around.
The exchange rate benefit alone makes it a far far far better bet than taking cash.
The only catch is that with a cash withdrawl you pay interest from the dayou you take the money out but that works out at about a 1% charge if you pay it off within a month. The saving you'll make from not being ripped off by currency exchange places is far far in excess of this 1%.
Plus its totally secure as well, no need to carry loads of cash around.
Or just someone being helpful?
Anyway, thanks for the tip Fox. Will swing past Halifax tomorrow and see how quickly they could get me up and running. I was looking at carrying at least 5k on me. I hasten to add that it would not all be spent on R&R, but on some other occasions as well.
My old man travels often, and often carries at least £5k in Sterling, Dollars and Euros as well as a few hundred quid in other currencies. I wouldn't worry about it, it's not that uncommon. But then again, I've always wondered if he's a spy or a drug dealer... Thinking about it, he's a bloody idiot.
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Anyway, thanks for the tip Fox. Will swing past Halifax tomorrow and see how quickly they could get me up and running. I was looking at carrying at least 5k on me. I hasten to add that it would not all be spent on R&R, but on some other occasions as well.
You are going to save a FORTUNE doing it the way I've suggested then.
I'll calculate for you.
£5000 at a high street bureau de change, ie the post office, would get you €5,721.50
£5000 spent on a Halifax Clarity card, lets say it's £1000 in cash and £4000 in card purchases, would get you €5896.79.
Therefore, you'd be €175 (£150) richer, and you'd pay 1% on your £1k (£10) provided you paid it back within a month.
So, by using the card, you save £140 and get the massively increased convenience of just having a card with you not £5k in cash.
I cannot understand why you'd do that in this day and age. Cash is not king. Card is king. Heck most places in the USA wont rent you a car or give you a hotel room without a card..
[TW]Fox;18024018 said:
Yeah, I do kinda agree with you and I've asked him why he carries a lot of cash with him and he states that a lot of the time there aren't card facilities and feels safer using cash. Plus, it's rare for officials to take card
. (He's in the oil industry, and frequently travels to deepest darkest Russia/Kazak/Nigeria/etc.)I guess it all depends where in the World you're going.
Disguised sarcasm?
Welcome to 1989
Before my time.
Well your numbers are slightly wrong Fox. Here is more competive exchange rate.
http://travelmoney.moneysavingexpert.com/holiday-money/#results
That is e5832 so there is a e60 difference. In most Cities the card rules, outside its cash all the way. In Netherlands you will be hammered for not having a maestro card and using visa credit card. So in reality its probably best to mix the two as cash is still very useful.
http://travelmoney.moneysavingexpert.com/holiday-money/#results
That is e5832 so there is a e60 difference. In most Cities the card rules, outside its cash all the way. In Netherlands you will be hammered for not having a maestro card and using visa credit card. So in reality its probably best to mix the two as cash is still very useful.
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*Hugs his Santander Zero card*
What is wrong with my numbers?
I took the exchange rate from the Post Office, a typical high street retailer. The other rate is VISA wholesale.
What is wrong there? None of the collection rates (I was comparing against collecting currency from a retailer) are anywhere near the deal you'd get just using the card and thats BEFORE you even think about the convenience aspect. Carrying £5k in cash is just stupid.
Even by ordernig the currency online with your figures its STILL more expensive than using the card. And ask all the people who bought currency from the online retailer who went bust if they'd recommend doing that!
Yes, and by taking my advice you CAN have cash - simply withdraw it at a cashpoint!
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