travel money

[drab]

Is this now an outdated concept? Unless you're going to somewhere where bank machines are rare and they don't accept credit cards I don't really see much point anymore.

The last few times I've been away I've ran out of money and taken more out while I was there, and the exchange rate I got from the ATM was no different than using a bureau de change here.

[a311]

Yes, more so travelers cheques.

You can still get hammered if you use the wrong credit/debit card for foreign withdrawals/transactions, but there are now plenty where charges are nil or minimal. I guess there's still some argument for some destinations to get a little currency rather than trying to find or not being an ATM after a long flight.

[boxst]

It depends. You will get charged fees in most instances (it depends on the bank), so although the exchange rate is usually good the fees make it go back down to terrible. Especially if you take low amounts.

Ordering money online before you go and then getting it delivered to the airport (or post office) and paying with debit card seems to be the way to get the best exchange rate.

[BertB]

The Halifax clarity card seems to be very popular for this, it doesn't charge for a cash advance and you get good exchange rates when you take cash out on it.

[Old Merc]

Who needs lots of cash?.Like most people almost all of our holiday expenses are paid for before we leave.I use a Nationwide Gold card to settle room account,hire car etc.(no transaction fee,good exchange rate).Never use a ATM abroad. Take with me a small amount of local currency for tips,bars,odds and ends.

[a311]

boxst said:

It depends. You will get charged fees in most instances (it depends on the bank), so although the exchange rate is usually good the fees make it go back down to terrible.

Again it's all down to the fees/bank. I have a Santander Zero Credit card-think there are slightly better nowadays but I've had it for years and can't be arsed getting another card. The important thing with credit cards is to get the balance paid off within a month or you will get hammered.

I'm just back from Austria and Germany. Took a few cash withdrawals out

30 Euro was £21.62 so I was given a rate of 1.387 that day. The official exchange rate is 1.39 as of today so not bad.

Today Travelex are giving a rate of 1.36

Post office 1.33

It's the by back rate where they really bend you over, but as someone else says it's unusual to need a lot of cash and anything left over with the Euro in particular you're best holding onto for next time.

[tex200]

Depends on where you are going.

If visiting Japan take a load of cash with you - it's very much still a cash society and you can struggle to find an ATM that accepts non Japanese cards.

Restaurants expect cash.

Many smaller hotels will not accept credit card payment.

Also debit cards are not accepted for card purchases.

[chopper602]

tex200 said:

Depends on where you are going.

Yes, although Germany is very much a modern country, they are very backwards about credit cards. Supermarkets and fuel stations fine, but often smaller traders in towns don't want to know.