Travel money tips
Discussion
Me and my missus are going to Tenerife in March for a lazy week, and will be taking around £1200 spending money.
Any tips on handling the travel money? My thoughts are splitting between low denomination travellers cheques, cash, and some money left in the bank accessible using our debit card.
The last time i went to Tenerife my ex missus got her debit card stolen and cleared the bank account, and i don't want the same thing happening again.
Any tips on handling the travel money? My thoughts are splitting between low denomination travellers cheques, cash, and some money left in the bank accessible using our debit card.
The last time i went to Tenerife my ex missus got her debit card stolen and cleared the bank account, and i don't want the same thing happening again.
Have you thought about a currency card? Good rates of exchange (locked in as soon as you load the card), no fees for using in the right currency zone (in ATM's or shops!), and you could get a spare card incase one gets stolen.
Usage wise its just the same as a debit card - can be used anywhere that takes Visa.
And if you run out of money, you can easily transfer more to the card from your bank account using a text message (or going online). So you could just load the card with whatever you want each day, leaving your bank debit card untouched... that way, if the cards get stolen, you still have your debit card available, and have only lost however much was loaded on the card
I've got one from CaxtonFX - costs a tenner to buy, but this is credited to your account, so its effectively free.
Usage wise its just the same as a debit card - can be used anywhere that takes Visa.
And if you run out of money, you can easily transfer more to the card from your bank account using a text message (or going online). So you could just load the card with whatever you want each day, leaving your bank debit card untouched... that way, if the cards get stolen, you still have your debit card available, and have only lost however much was loaded on the card
I've got one from CaxtonFX - costs a tenner to buy, but this is credited to your account, so its effectively free.
Truckosaurus said:
I've recently got a CaxtonFX pre-paid currency credit card.
They claim to offer a better exchange rate than if you just use your normal card, and if it is stolen then worst case is they only steal what's loaded on the card.
FairFX is a similar deal, I believe.
Sounds interesting, i'll look into this. Thanks.They claim to offer a better exchange rate than if you just use your normal card, and if it is stolen then worst case is they only steal what's loaded on the card.
FairFX is a similar deal, I believe.
Traveller's cheques will indeed be a nightmare. The best answer is to use the debit card - how did the thief manage to empty the account without the PIN number? - but to take sensible precautions. The best one is to simply not look like a tourist.
This may sound stupid, but when you are abroad I bet you don't dress as you would at home. Shorts and sandals single you out as a tourist - dress like the locals (i.e. exactly the same as you would at home) and you'll get a lot less attention.
For the ladies, keeping everything of value in pockets rather than in a handbag makes it much harder for a thief. try and spread important and valuable things around the pockets to avoid having everything taken in one go if you are pickpocketed.
This may sound stupid, but when you are abroad I bet you don't dress as you would at home. Shorts and sandals single you out as a tourist - dress like the locals (i.e. exactly the same as you would at home) and you'll get a lot less attention.
For the ladies, keeping everything of value in pockets rather than in a handbag makes it much harder for a thief. try and spread important and valuable things around the pockets to avoid having everything taken in one go if you are pickpocketed.
Not quite shure how they emptied the account, but i know it was before the days of chip and pin. Sounds like one of these travel cards is the way forward, with some ready cash also for tipping, taxis etc.
One more thing, related slightly, not worth a new thread..... is it possible to hire a car without a credit card? I've seen deals where you pay before hand which is ideal, but then mention of a credit card swipe as security. Am i correct in assuming a debit card would be acceptable?
One more thing, related slightly, not worth a new thread..... is it possible to hire a car without a credit card? I've seen deals where you pay before hand which is ideal, but then mention of a credit card swipe as security. Am i correct in assuming a debit card would be acceptable?
AndyT77 said:
One more thing, related slightly, not worth a new thread..... is it possible to hire a car without a credit card? I've seen deals where you pay before hand which is ideal, but then mention of a credit card swipe as security. Am i correct in assuming a debit card would be acceptable?
I've used a debit card to swipe when collecting the car abroad before, when the car's been prepaid in the UK. It didn't block anything out as everything had been prepaid. Some hire companies have policies on this and some leave it up to the individual location.I got/used a Halifax Clarity credit card when I went abroad before. The rate of exchange seems to be only a few pence off that on the website xe.com and seems quite favourable. No fees on it either.
You do have to let them know what country your going to before it will work though. I found out in a bakery in Greece that I had forgotten this stage
You do have to let them know what country your going to before it will work though. I found out in a bakery in Greece that I had forgotten this stage
rcspeirs said:
Travellers Cheques are ancient history. They'll be more trouble to you than they are worth.
Why do you say that? We always use them in the US - usually use $100 cheque to pay for a typical meal and then the change is OK for bits & pieces. They take a photo driving licence as ID.I know you can just put everything on credit cards, indeed we do that for some shopping, but you come back to a big bill then.
Obviously the big benefit is if they get nicked, they get replaced. You could easily have a few hindred loaded onto a pre-pay card unless you're going to faff around every couple of days, so you could lose quite a bit if it was nicked.
Accepting the risks I usually take mostly cash. Just been skiing so able to keep my wallet well tucked away all day so unlikely to get pockets picked. The point of my post is that I am staggered by the variation in exchange rates for currency. I work in a touristy part of central London above a Post Office which houses a Travelex branch. They were changing £ for Eu at 1.11 when I was buying a month ago. The shabby forex kiosk across the road offered 1.18 with better deals available for larger sums!
I also notice that some credit card issuers are consistently better than others with rates.
I also notice that some credit card issuers are consistently better than others with rates.
ChasW said:
The point of my post is that I am staggered by the variation in exchange rates for currency. I work in a touristy part of central London above a Post Office which houses a Travelex branch. They were changing £ for Eu at 1.11 when I was buying a month ago. The shabby forex kiosk across the road offered 1.18 with better deals available for larger sums!
Not surprised, the big corporation needs more money on their expensive brainwash campain along the lines ("We won't be beaten"). Their airport rates are most shocking though, although I think online is not too bad.When I last went to Tenerife a couple of years ago, I had no trouble getting a better rate than Thomas Cook's High St rate in any exchange place. I tend to take it all in Euros but then we rent villas where security is less of an issue.
Don't do what I did one year and hide it, only to find that less than 3 hours later, you can't remember where. We eventually found it in a box of biscuits after a couple of hours searching, thinking we'd been turned over, which just shows how much of a genius I was in theory.
Don't do what I did one year and hide it, only to find that less than 3 hours later, you can't remember where. We eventually found it in a box of biscuits after a couple of hours searching, thinking we'd been turned over, which just shows how much of a genius I was in theory.
The Moose said:
To be honest, I always just take cash with a couple of credit cards as backup, but them I'm reasonably cautious I feel and don't mind carrying around cash.
Same here, I got to tenerife every year in the winter to grab a quick sun fix before christmas with the kids. I just take around 1000 Euros in cash then bung it in the apartment safe. If I run out (if the Mrs goes clothes shopping) I just stick my Visa Debit card in the cashpoint and grab a few hundred more. I buy the Euros online before I go and get a much better rate than the high street. For the few hundred I may need from cashpoints its such a small amount I dont worry about the exchange rate.
Weirdly, when on holiday I only use cash and dont like using my cards in shops/restaurants. But when travelling in Europe on business I happily use my cards. Go figure.
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