Tuesday, July 11, 2006

BBC Radio Swindon Travel Money

Going on holiday can be expensive, however here are some tips to make your money go furrther abroad.

Cash vs Credit cards vs Traveller’s Cheques

Traveller’s cheques are safe & secure but the exchange rateis poor compared to the other two


In the UK, most places now offer to buy back your unused notes.

Two places which offer competive rates are the Post office and Marks & Spencer. You can order currency at sub Post offices & the money will be there the next day

Credit Cards

In theory credit cards, should offer the best deal however only really with a couple of cards

The best card to use is probably Nationwide’s. There is no charge for using it abroad. Most cards will charge you 2.75% of the amount .

Saga for the over 50s offers a % charge in Europe but 1% outside Europe

If you withdraw it cash using a credit card, standard charges are 2% with a minimum of £2.

Note: if you have a Nationwide Flexaccount Debit card, there are no charges for purchases or for making cash withdrawls.


Anonymous said...

Can recommend the Nationwide Flexaccounts and also the Nationwide credit card. I saved reasonable amount of money on a recent trip to the States using these for food, lodging etc. No charges made for using either and the credit card gives a good rate of interest - they don't try to claim the lack of fixed charges back through poor conversions. Ensure you have a plan b though just in case your cards are lost/stolen.

Sean Wilson said...

Thanks for your comments & field testing the cards