michele Posted November 21, 2007 Share Posted November 21, 2007 Last week the new St Pancras Eurostar station officially opened for business. If you’re keen to give the new route a test run, there are a whole host of ways to cut the cost. Big savings if you’ve Tesco Clubcard points Tesco shoppers who've stored up their Clubcard points or vouchers have a way to get cheap Eurostar tickets. Spend Tesco Clubcard vouchers on goods or services listed in its Deals brochure and you get up to four times their face value. One of the Deals currently offered in the brochure is standard select return to Paris, Brussels and Lille. While you can sometimes get tickets for £58; Tesco has put down a list price of £100, meaning you pay £25 in Clubcard vouchers; still its way less than half price. To book call 08457 660421, at least 28 days in advance (not valid for day return or first class tickets, read full T&CS). For more details on maximising the use of Tesco points read the full Loyalty Schemes article Get 2for1 Eurostar tickets at Kent's Bluewater Shopping Centre For those living in travelling distance to Kent's massive Bluewater shopping centre, buy anything there and you get a 2for1 Eurostar voucher, letting you buy two tickets for as little as £58. The offer’s valid for a standard return from Ebbsfleet International to either Paris, Brussels or Lille; or from Ashford International to Paris. To grab your 2for1 tickets, buy anything at Bluewater – chewing gum counts – and take the receipt down to the Eurostar shop inside the shopping centre. You'll be given a voucher with a code. To book, go to eurostar.com/ebbsfleet and enter the code. You have to get the voucher and book your tickets before 30 Nov, and the offer’s valid for travel between 19 November 2007 and 28 February 2008. Free train travel for Eurostar travellers to Ebbsfleet & Ashford Anyone with a Eurostar ticket can travel free to and from Ebbsfleet International or Ashford International, on that day. You can do it on all Southeastern train services – all you need to do is show your ticket and passport. Read more about it in the Eurostar website. This makes the Bluewater 2for1 offer even better value, because if even if you don't live nearby, you can travel part of the way for free if you don't mind the extra journey time. Grab tickets with Nectar points While not the best deal out there, if you've got unused Nectar points, you can also spend these on Eurostar tickets. Standard select returns cost 11,000 or 12,000 points (roughly £60 worth of points), depending on availability, to Paris, Brussels and Lille. Call Nectar to redeem this on 0870 4 100 100. Bookings must be made 14 days in advance – see full details. For more tricks to get more from your loyalty points read the full Loyalty Schemes article Grab French bargains while you’re there Once you’ve crossed the channel, there are some great value things to buy when you get there; as well as the usual cigarettes and alcohol. The Great ‘What to buy on a day trip to France’ Hunt has masses of MoneySavers' top tips on shopping continental style. Look out for special offers The Telegraph newspaper often runs 2for1 Eurostar offers. . Link to comment Share on other sites More sharing options...
michele Posted November 21, 2007 Author Share Posted November 21, 2007 It's much cheaper to use the right card than grab foreign exchange or travellers cheques; though the wrong card is much more expensive. So if you're off to an exotic destination where cards aren't viable, or you feel safer with some notes in your pocket when you land, or you don't have time to get the right card, read the how to get the Cheapest Overseas Currency article which includes the Travel Money Maximiser. Abroad range of charges Spend in a foreign currency on your plastic and there's a raft of different charges: A 'Load' on top of the Exchange Rate (Debit and Credit Cards). While exchange rates change daily, what you get always depends on the ‘Visa/Mastercard wholesale rate'. It's about the best exchange rate possible, as it reflects currencies' real interchange value. This should mean more Euros, Dollars or Costa Rican Colons per pound, but unfortunately almost all cards secretly add a ‘load', an extra charge usually of 2.75%. So the higher the ‘load' the worse the exchange rate you get. This means £100 worth of Euro spending costs you £102.75. Worse still, it isn't broken down on statements so you won't notice (Nerdy MoneySavers find out more about loading technicals). Cash Withdrawal Charges (Debit and Credit Cards). Withdraw money from an overseas cash machine and the card provider will add a fee, usually around 2.5% of the amount withdrawn with a minimum of £2.50. Many people are aware of this charge for credit cards, but it's important to note it applies to most debit cards too. Many overseas banks, especially in the USA, also charge an additional fee for withdrawing cash. Little can be done about this, except trying a few different banks to find the cheapest. Thus taking larger amounts out to cover a longer period is cheaper than lots of small withdrawals, though do ensure your cash is stored securely. A Penalty for Spending (Debit Cards only). Rather sadly, a few card providers have decided to take profiteering from holidaymakers up a level. Spend on a Halifax, IF, RBS, NatWest or Lloyds TSB debit card and you'll pay a fee each and every time, e.g. Halifax adds £1.50 per transaction. This means that the normal ‘paying on the card's cheaper than making withdrawals' rule is defeated for these cards, so withdraw a large cash lump instead as it's cheaper. Unexpected Interest Charge (Credit Cards only). Normally repay a credit card in full at the end of the month and you don't pay any interest. Yet withdraw cash and even if it's paid off in full, many providers still charge interest, often at a higher rate than spending e.g. Halifax's One card charges 9.9% for spending, but 22.9% for withdrawing cash. While this isn't exclusive to withdrawing cash abroad, in the UK it's rarely noticed as credit card cash withdrawals aren't common. Those who don't pay off in full will, of course, always be charged interest. The Hall of Shame: What not to use Let's make this plain - do not use the following cards for spending overseas; and it may surprise you to learn the worst offenders are all debit cards. Halifax Debit Card Spending penalty: £1.50. Exchange load: 2.75%. Cash Withdrawal fee: £1.50 Lloyds Debit Card Spending penalty: £1. Exchange load: 2.75% (2.99% from 30/7/07). Cash Withdrawal fee: 1.5% min £2 max £4 IF Debit Card Spending penalty: £1.50 Exchange load: 2.25%. Cash Withdrawal fee: £1.50 or 1.5% RBS Debit Card Spending penalty: £1.25. Exchange load: 2.75%. Cash Withdrawal fee: 2% min £2 max £5 NatWest Debit Card Spending penalty: 75p. Exchange load: 2.65%. Cash Withdrawal fee: 2.25% max £4 See a full list of charges for major UK credit and debit cards. What should I do if I've got one of these cards? It's the penalty for spending that makes these cards so much worse than others. For example, Halifax charges £1.50 per transaction; so buy something worth a fiver and it'd cost you £6.50 and that's before the exchange rate loading. Over a holiday lots of small purchases could add up to a huge sum. So here's a checklist of things you can do in order of preference. Apply for the right card and use it when you're overseas. Pick the right plastic (see below) and even if you don't use it the rest of the year, just get it out when you're on holiday. Though it will take up to four week's to get one of those cards. Take foreign currency with you. If it's too late to get a card, then using foreign currency is better than using one of these cards. The Travel Money Maximiser, will find you the best deal. Take cash out rather than spend. If you're abroad, don't have currency, and this is the only card you have; rather than paying with the card, take cash out of the cash machine and spend in cash (the opposite logic to other cards). This can make a big difference; e.g. on Halifax you'd pay a cash withdrawal fee of £1.50 for taking out £200 worth of foreign currency, but 20 transactions adding up to £200 would have a penalty of £30. The top cards for overseas spending With so many charges it may seem like plastic should be avoided for foreign currency transactions, yet the right cards are cheaper than any other method. However, only choose plastic for overseas spending if you pay no interest (i.e. you pay credit cards off in full every month). Otherwise concentrate on reducing your interest payment (see Credit Cards, Which One Is Right For Me?). For most people, the easy route to a cheap way to spend overseas, is to apply for a credit card that you only every use for overseas spending; with a Direct Debit set up so that it's paid off in full each month. The Top Credit Cards The outright winner is the Post Office* card which has no foreign exchange loading anywhere in the world, and charges £2 or 2% for withdrawing cash from an ATM. The Nationwide also has no load fee, but you'll pay 2.5% (min £3) for withdrawing cash from ATMs. Sadly, both levy interest on cash withdrawals even when fully repaid although again Nationwide has a higher rate (see table). The only other card of note is the Saga card, for over-50s, which matches the above cards in Europe, but does add a load to the exchange rate by 1% outside. It's not worth getting, but if you have it and stick in Europe it's fine. The Top Debit Card The Nationwide's Flexaccount Visa Debit card trumps all the other cards as it doesn't load anywhere in the world, is free of interest (unless you're overdrawn) and doesn't charge for withdrawing cash. To get it you need Nationwide's bank account, and while its account isn't bad, it's not the best buy (see the Best Current Account article). For the money savvy willing to play, it's possible to set it up as a second current account and just pre-load it for spending before travelling abroad. Then again, there is one other reason to stick with a credit card rather than debit card overseas, thanks to ‘Section 75' consumer protection. If something goes wrong with goods bought on the card (costing over £100), legally credit card (but not debit card) providers are jointly liable with the retailer, so you can complain to them and they'll refund you directly. The Court of Appeal recently ruled this applies to overseas spending too. Fantastic news as tracking down overseas retailers to complain is notoriously tough (read the Consumer Rights article for more details). See a full list of charges for major UK credit and debit cards. Battle of the top 'overseas use' cards Nationwide Debit Card Post Office Credit Card Nationwide Credit Card Saga Credit Card Typical Debit Card Typical Credit Card Load in Europe None None None None 2.75% 2.75% Load Worldwide None None None 1% 2.75% 2.75% Fee on spending None None None None Some cards up to £1.50 None Cash withdrawal fee None £2 or 2% £3 or 2.5% £2 or 2% £2 or 2% £2 or 2% Cash w/d interest, if fully repaid N/A 13-15% 16-18% 21.9% N/A Up to 22% KEY Good OK Poor Always try to pay in the overseas currency not in Pounds. There's a growing trend when spending abroad for the retailer to do the conversion to Pounds itself, giving you a poor exchange rate you've no control over. Always check that you won't be charged in pounds. That way, assuming you're using one of the top cards, you'll get the best exchange rate possible. Link to comment Share on other sites More sharing options...
Guest Tracker Posted November 21, 2007 Share Posted November 21, 2007 With all that research and experience Michele, I guess that makes YOU the REAL Euro Star! Well done and thank you. Link to comment Share on other sites More sharing options...
handyman Posted November 21, 2007 Share Posted November 21, 2007 wheres the info cut and pasted from? Link to comment Share on other sites More sharing options...
michele Posted November 21, 2007 Author Share Posted November 21, 2007 My head :D Link to comment Share on other sites More sharing options...
Guest Tracker Posted November 21, 2007 Share Posted November 21, 2007 Wasn't that an old Monty Python trick? To slice open a head and remove anything of value? Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted November 21, 2007 Share Posted November 21, 2007 A colleague went on this the first day. traveled out from waterloo and back next day on first train into Kings X. it was £3 for a croissant offer - you paid for croissant and trip was free.... Link to comment Share on other sites More sharing options...
twooks Posted November 21, 2007 Share Posted November 21, 2007 If you want a Nationwide Debit card and therefore have to open one of their Flexaccounts you can also open an e-savings account 'off' the flexaccount so you just keep minimum funds in the Flex current account - the e-savings was fairly good value when it started - not checked it since - and you can do all your banking on line. B-) Link to comment Share on other sites More sharing options...
carioca Posted November 21, 2007 Share Posted November 21, 2007 michele - 2007-11-21 2:55 PM It's much cheaper to use the right card than grab foreign exchange or travellers cheques; though the wrong card is much more expensive. So if you're off to an exotic destination where cards aren't viable, or you feel safer with some notes in your pocket when you land, or you don't have time to get the right card, read the how to get the Cheapest Overseas Currency article which includes the Travel Money Maximiser. Abroad range of charges Spend in a foreign currency on your plastic and there's a raft of different charges: A 'Load' on top of the Exchange Rate (Debit and Credit Cards). While exchange rates change daily, what you get always depends on the ‘Visa/Mastercard wholesale rate'. It's about the best exchange rate possible, as it reflects currencies' real interchange value. This should mean more Euros, Dollars or Costa Rican Colons per pound, but unfortunately almost all cards secretly add a ‘load', an extra charge usually of 2.75%. So the higher the ‘load' the worse the exchange rate you get. This means £100 worth of Euro spending costs you £102.75. Worse still, it isn't broken down on statements so you won't notice (Nerdy MoneySavers find out more about loading technicals). Cash Withdrawal Charges (Debit and Credit Cards). Withdraw money from an overseas cash machine and the card provider will add a fee, usually around 2.5% of the amount withdrawn with a minimum of £2.50. Many people are aware of this charge for credit cards, but it's important to note it applies to most debit cards too. Many overseas banks, especially in the USA, also charge an additional fee for withdrawing cash. Little can be done about this, except trying a few different banks to find the cheapest. Thus taking larger amounts out to cover a longer period is cheaper than lots of small withdrawals, though do ensure your cash is stored securely. A Penalty for Spending (Debit Cards only). Rather sadly, a few card providers have decided to take profiteering from holidaymakers up a level. Spend on a Halifax, IF, RBS, NatWest or Lloyds TSB debit card and you'll pay a fee each and every time, e.g. Halifax adds £1.50 per transaction. This means that the normal ‘paying on the card's cheaper than making withdrawals' rule is defeated for these cards, so withdraw a large cash lump instead as it's cheaper. Unexpected Interest Charge (Credit Cards only). Normally repay a credit card in full at the end of the month and you don't pay any interest. Yet withdraw cash and even if it's paid off in full, many providers still charge interest, often at a higher rate than spending e.g. Halifax's One card charges 9.9% for spending, but 22.9% for withdrawing cash. While this isn't exclusive to withdrawing cash abroad, in the UK it's rarely noticed as credit card cash withdrawals aren't common. Those who don't pay off in full will, of course, always be charged interest. The Hall of Shame: What not to use Let's make this plain - do not use the following cards for spending overseas; and it may surprise you to learn the worst offenders are all debit cards. Halifax Debit Card Spending penalty: £1.50. Exchange load: 2.75%. Cash Withdrawal fee: £1.50 Lloyds Debit Card Spending penalty: £1. Exchange load: 2.75% (2.99% from 30/7/07). Cash Withdrawal fee: 1.5% min £2 max £4 IF Debit Card Spending penalty: £1.50 Exchange load: 2.25%. Cash Withdrawal fee: £1.50 or 1.5% RBS Debit Card Spending penalty: £1.25. Exchange load: 2.75%. Cash Withdrawal fee: 2% min £2 max £5 NatWest Debit Card Spending penalty: 75p. Exchange load: 2.65%. Cash Withdrawal fee: 2.25% max £4 See a full list of charges for major UK credit and debit cards. What should I do if I've got one of these cards? It's the penalty for spending that makes these cards so much worse than others. For example, Halifax charges £1.50 per transaction; so buy something worth a fiver and it'd cost you £6.50 and that's before the exchange rate loading. Over a holiday lots of small purchases could add up to a huge sum. So here's a checklist of things you can do in order of preference. Apply for the right card and use it when you're overseas. Pick the right plastic (see below) and even if you don't use it the rest of the year, just get it out when you're on holiday. Though it will take up to four week's to get one of those cards. Take foreign currency with you. If it's too late to get a card, then using foreign currency is better than using one of these cards. The Travel Money Maximiser, will find you the best deal. Take cash out rather than spend. If you're abroad, don't have currency, and this is the only card you have; rather than paying with the card, take cash out of the cash machine and spend in cash (the opposite logic to other cards). This can make a big difference; e.g. on Halifax you'd pay a cash withdrawal fee of £1.50 for taking out £200 worth of foreign currency, but 20 transactions adding up to £200 would have a penalty of £30. The top cards for overseas spending With so many charges it may seem like plastic should be avoided for foreign currency transactions, yet the right cards are cheaper than any other method. However, only choose plastic for overseas spending if you pay no interest (i.e. you pay credit cards off in full every month). Otherwise concentrate on reducing your interest payment (see Credit Cards, Which One Is Right For Me?). For most people, the easy route to a cheap way to spend overseas, is to apply for a credit card that you only every use for overseas spending; with a Direct Debit set up so that it's paid off in full each month. The Top Credit Cards The outright winner is the Post Office* card which has no foreign exchange loading anywhere in the world, and charges £2 or 2% for withdrawing cash from an ATM. The Nationwide also has no load fee, but you'll pay 2.5% (min £3) for withdrawing cash from ATMs. Sadly, both levy interest on cash withdrawals even when fully repaid although again Nationwide has a higher rate (see table). The only other card of note is the Saga card, for over-50s, which matches the above cards in Europe, but does add a load to the exchange rate by 1% outside. It's not worth getting, but if you have it and stick in Europe it's fine. The Top Debit Card The Nationwide's Flexaccount Visa Debit card trumps all the other cards as it doesn't load anywhere in the world, is free of interest (unless you're overdrawn) and doesn't charge for withdrawing cash. To get it you need Nationwide's bank account, and while its account isn't bad, it's not the best buy (see the Best Current Account article). For the money savvy willing to play, it's possible to set it up as a second current account and just pre-load it for spending before travelling abroad. Then again, there is one other reason to stick with a credit card rather than debit card overseas, thanks to ‘Section 75' consumer protection. If something goes wrong with goods bought on the card (costing over £100), legally credit card (but not debit card) providers are jointly liable with the retailer, so you can complain to them and they'll refund you directly. The Court of Appeal recently ruled this applies to overseas spending too. Fantastic news as tracking down overseas retailers to complain is notoriously tough (read the Consumer Rights article for more details). See a full list of charges for major UK credit and debit cards. Battle of the top 'overseas use' cards Nationwide Debit Card Post Office Credit Card Nationwide Credit Card Saga Credit Card Typical Debit Card Typical Credit Card Load in Europe None None None None 2.75% 2.75% Load Worldwide None None None 1% 2.75% 2.75% Fee on spending None None None None Some cards up to £1.50 None Cash withdrawal fee None £2 or 2% £3 or 2.5% £2 or 2% £2 or 2% £2 or 2% Cash w/d interest, if fully repaid N/A 13-15% 16-18% 21.9% N/A Up to 22% KEY Good OK Poor Always try to pay in the overseas currency not in Pounds. There's a growing trend when spending abroad for the retailer to do the conversion to Pounds itself, giving you a poor exchange rate you've no control over. Always check that you won't be charged in pounds. That way, assuming you're using one of the top cards, you'll get the best exchange rate possible. bl**dy h**l michele information overload i think you should take the rest of the night off (lol) :$ (lol) :$ Link to comment Share on other sites More sharing options...
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