Euro Question

Who would ever change money at a travel agent ?
Asking for trouble.

Any bank that gives you the current market cross rate on any currency exchange is making their money elsewhere.

Nationwide do it because they want themselves to be seen as fair - it wins them business. From people like me who once I had an account with them, also got my mortgage with them.

They campaigned for the abolition of ATM fees in Britain so I wouldn't necessarily be suspicous of that.

It's all very complicated, and the banks seem to change the rules fairly frequently.

I take about 100 pounds in euros for cash and then use my Visa debit card.

Ally

Thanks, I go into town and pick some Euros up

corrasello wrote:You guys must use even more money grabbing b*****ds banking companies than me as I can assure you of my previous posts.I use a Halifax card cash visa electron,the same one that Ryanair dont charge for using and the very reason(the only reason)I opened this account for.You dont get charged for using an ATM at home and its the same abroad,apart from the handling fee of £1.50.I suggest you get one before your next trip.

From Halifax web site

"Buying goods and services in a foreign currency

When you use your debit card abroad to pay for goods or services, or to withdraw cash at cash machines, the exchange rate we use will be the Visa Reference Exchange Rate. We will charge a conversion fee of 2.75% of the amount of the transaction and a fee of £1.50 for each payment."

I have a Halifax Electron and a NatWest Visa Debit card both of which feature in the top 5 Martin Lewis card from hell list :(

Just a quick heads up on the electron card with Ryanair as of 1 jan 2010 you'll be charged to use this card to pay for flights, only way to avoid a card charge with them now is to use a prepaid MasterCard ...

I have just checked what I was charged on my Lloyds visa debit card in Tignes at the end of October.

The 3% currency charge on purchases abroad with the card must be built in to the currency exchange rate, because it's not itemized, but assuming I did pay it, even with this charge the currency exchange rate is better than I would have got at home changing pounds for euros. And then on top of this they have charged me a £1 transaction charge.

So, I'm not really bothered. Even if I spend £500 on purchases when I'm on my next holiday that only makes £15 plus the £1 fee for each one. For me, the most important thing is that my card works. Twice now, on holiday my sister-in-law has found that one of her cards won't work. That is really awkward if you have no other way of paying for things or obtaining cash.

I always take 2 different debit cards with me, just in case!

Ally

I do pretty much the same as you Ally, I take a few euros cash for the journey/first day and then use my debit card for the rest of my stay. HSBC plus account does not charge a transaction fee but a 2.75% currency charge does apply.

I think it's worth opening a Nationwide account just for their lack of ATM charges. We always use the card. When I've slipped up and used another debit card the difference is infuriating. The conversion rate used by nationwide isn't always the same as XE but it does work out far better than any other card I've come across.