From: "Andy Pandy" 
Newsgroups: uk.finance
Subject: Re: Options for using money abroad
Date: Mon, 15 May 2006 21:16:32 +0100


"Tom Anderson"  wrote in message
news:Pine.LNX.4.62.0605151942440.30836@urchin.earth.li...
> Hello,
>
> I'm going to the Netherlands in a few days, and will need to spend money
> while i'm there. Any thoughts on the best way to do that (as in the best
> way to carry money, rather than what to spend it on - although suggestions
> are welcome there too)?
>
> Options that spring to mind are:
>
> - Buy cash here

Not usually a good option. You'll be carrying loads of cash around so there's a
security risk, and you'll pay around 4-6% to change it.

> - Buy traveller's cheques here

Too much hassle, and they'll be about as expensive as cash.

> - Use my UK debit card there

Probably the best option. You should be able to use it in ATM's abroad too, but check
what your bank charges (it'll be in the T&C's somewhere).

> Is there anything i'm missing?
>
> The debit card is far and away the easiest, and i assume Visa Delta will
> be widely supported over there (it was in Spain), but i hear not so good
> things about the exchange rate you get with cards. Any idea how bad it
> really is?

Generally better than changing cash/TC's - typically banks charge 2.75% but this'll
be on the VISA rate or the interbank rate, not the so called "tourist rate" which has
a built in 4-6% commission.

If you abroad a lot open a Nationwide flex account and get their credit card - I
think they're the only high street bank/bs who don't mark up the exchange rate.

--
Andy