Martyn22 Posted January 20, 2017 Share Posted January 20, 2017 when using credit cards abroad, what is best practice when asked to use which to use sterling or euros? and whyto use Link to comment Share on other sites More sharing options...
Derek Uzzell Posted January 20, 2017 Share Posted January 20, 2017 Your Sterling or Euros questions are (I think) covered in the following link’s final section "Watch out for dynamic currency conversion”. https://www.moneysupermarket.com/travel-money/using-credit-cards-abroad/ (Basically - if there’s a choice - choose to pay in Euros.) Link to comment Share on other sites More sharing options...
Martyn22 Posted January 20, 2017 Author Share Posted January 20, 2017 Thanks Derick, di not know which was the best way, in the past I have chosen sterling, but did not see anything on bank statements to give me a worry Link to comment Share on other sites More sharing options...
StuartO Posted January 20, 2017 Share Posted January 20, 2017 As I understand it if you have the right sort of card, you should always pay in local currency, i.e. euros. This is because if you pay in Sterling the local processor, the store or bank, which offers the conversion, would take an extra bite itself on the conversion rate. I got 300€ out of a cash machine using a Barclays debit card and was offered the Sterling option but I'm pretty sure it was a mistake; the screen displayed the amount in Sterling but when I saw by Barclays statement, £15 odd had been added to what was taken from my account by Barclays. I usually take enough euros for minor purchases and pay most things with my Post Office credit card, which charges no fees. If I draw cash again I'll use the debit card from our Nationwide account and select the euro option, which I'm pretty sure would cost less. Link to comment Share on other sites More sharing options...
Guest pelmetman Posted January 20, 2017 Share Posted January 20, 2017 Derek Uzzell - 2017-01-20 2:26 PM (Basically - if there’s a choice - choose to pay in Euros.) Ditto ;-) ....... Link to comment Share on other sites More sharing options...
Brian Kirby Posted January 20, 2017 Share Posted January 20, 2017 We use Nationwide issued Visa credit cards. There is no fee - but you need a Nationwide current account to get this. They are only used for purchases, never to draw cash. I invariably opt for Sterling where a choice is offered. The conversion rate applied to purchases has, to date, been the Visa rate of exchange as published on their website, which is substantially better than any tourist rate I have been able to find for cash withdrawals. For cash (drawn in advance), I have been using the Currency Club (previously used the Post Office, but their rates are less good), whose rates are at least competitive (though not as favourable as the Visa rate), and whose service is quick and reliable. We don't take that much cash, since the card is used in preference wherever possible. One debit card is carried for cash back-up if necessary, but we have never yet needed to do this, and do not use it for purchases as there is no guarantee of reimbursement on debit cards, any fraudulent use tending to be treated by the issuers as the users fault. It is reportedly very difficult to convince them otherwise. The risk, once the card is stolen, is that the entire balance of your account is at risk until you report the card lost/stolen. Link to comment Share on other sites More sharing options...
silverback Posted January 20, 2017 Share Posted January 20, 2017 we use halifax clarity card buy everything with that and pay in local currency cos better rate Jonathan Link to comment Share on other sites More sharing options...
Guest pelmetman Posted January 20, 2017 Share Posted January 20, 2017 silverback - 2017-01-20 7:21 PM we use halifax clarity card buy everything with that and pay in local currency cos better rate Jonathan Ditto :D .......... Link to comment Share on other sites More sharing options...
davidmac Posted January 20, 2017 Share Posted January 20, 2017 Hi I don`t know where you are thinking of traveling to but visa and master card are sometimes a problem in Germany. Some supermarkets will not accept them and smaller traders i.e campsites,independent shops do not either. Talking to a campsite owner it takes a long time for visa/ master card to process payment and with the charges imposed it is not a profitable option for them. If this is where you are likely to be heading I suggest you take a little extra cash with you. Regards David Link to comment Share on other sites More sharing options...
Derek Uzzell Posted January 21, 2017 Share Posted January 21, 2017 This link may be worth reading http://www.moneysavingexpert.com/travel/cheap-travel-money We use a Nationwide no-commission credit card for purchases overseas and a Santader “Zero” credit card to obtain euros. The “Zero” card is no longer offered by Santander and the ’trick’ is to pay off on-line the amount withdrawn from the ATM as soon as possible after the withdrawal has occurred. The “Zero” card has no up-front charges for overseas cash withdrawals but interest will begin to be applied until the ‘debt' is paid off. Clearing the debt very rapidly prevents interest being added. (I believe that it’s possible to do the same thing with a Halifax “Clarity” credit card.) Link to comment Share on other sites More sharing options...
Robbo Posted January 21, 2017 Share Posted January 21, 2017 davidmac - 2017-01-20 7:33 PM Hi I don`t know where you are thinking of traveling to but visa and master card are sometimes a problem in Germany. Some supermarkets will not accept them and smaller traders i.e campsites,independent shops do not either. Talking to a campsite owner it takes a long time for visa/ master card to process payment and with the charges imposed it is not a profitable option for them. If this is where you are likely to be heading I suggest you take a little extra cash with you. Regards David It always amazes me why Germany is so cash oriented. They probably have the strongest economy in the EU but don't seem to have fully embraced electronic transactions. I had a satellite system installed in Germany, albeit 15 years ago, and the only payment option was CASH. Perhaps things have improved a tad recently ??? Link to comment Share on other sites More sharing options...
malc d Posted January 21, 2017 Share Posted January 21, 2017 Robbo - 2017-01-21 3:00 PM It always amazes me why Germany is so cash oriented. They probably have the strongest economy in the EU but don't seem to have fully embraced electronic transactions. Maybe they've decided that you can lose a lot more money, more quickly and much more easily. from an 'electronic robbery' than you do from a good old fashioned cash heist ? Maybe they will be more keen when electronics are more secure. ( Or maybe they just get a lot of power cuts.) ;-) Link to comment Share on other sites More sharing options...
thebishbus Posted January 21, 2017 Share Posted January 21, 2017 When abroad we prefer to use pre-loaded euro cash card. Load it when the exchange is favourable .No commision on purchases ,no charge at ATM 's and of cause you are paying in euros. Brian B. Link to comment Share on other sites More sharing options...
Derek Uzzell Posted January 21, 2017 Share Posted January 21, 2017 Isn’t a downside of pre-paid currency cards that they won’t work at automated fuel-stations? Link to comment Share on other sites More sharing options...
Brian Kirby Posted January 21, 2017 Share Posted January 21, 2017 davidmac - 2017-01-20 7:33 PM Hi I don`t know where you are thinking of traveling to but visa and master card are sometimes a problem in Germany. Some supermarkets will not accept them and smaller traders i.e campsites,independent shops do not either. Talking to a campsite owner it takes a long time for visa/ master card to process payment and with the charges imposed it is not a profitable option for them. If this is where you are likely to be heading I suggest you take a little extra cash with you. Regards David Agreed, though I have not yet had any problems buying fuel. Link to comment Share on other sites More sharing options...
Brian Kirby Posted January 21, 2017 Share Posted January 21, 2017 Robbo - 2017-01-21 3:00 PM It always amazes me why Germany is so cash oriented. They probably have the strongest economy in the EU but don't seem to have fully embraced electronic transactions. I had a satellite system installed in Germany, albeit 15 years ago, and the only payment option was CASH. Perhaps things have improved a tad recently ??? A little, yes, but it depends where you are, and what sort of place you're visiting. For historic reasons, the Germans have a deep stated aversion to credit, and this is reflected in their attitude to credit cards. Not sure this, is, overall, a bad thing. For a country with a visibly high standard of living, it is surprising how relatively cheap food, accommodation, meals out, etc. (even motorhomes! :-)). can be. Link to comment Share on other sites More sharing options...
Wirralian Posted January 21, 2017 Share Posted January 21, 2017 We use a pre loaded Caxton card which is non commission for cash withdrawals, always opting for euros. For all purchases we use a Nationwide credit card, believing that that it was non commissioning. But this year I have found a small amount of loading on its use. When we were first here in the autumn my statement from Nationwide showed for the first few purchases an interest for 'non stirling transactions' but this has not appeared on any subsequent statements. So, I have on ocassions since made a note of the stirling cost of purchase based on the the bank rate for the day. My last check showed that the statement difference was just 20p on £18. Mathmaticians among you will be able to work out what the exact percentage this is. John L Link to comment Share on other sites More sharing options...
Derek Uzzell Posted January 22, 2017 Share Posted January 22, 2017 John L There are currently five Nationwide credit-cards, three of which are closed to new business. For each Nationwide card the fees for use abroad can be established via this webpage http://www.nationwide.co.uk/support/travel/fees-charges Information about the conversion process from (say) an in-euros purchase-transaction abroad to the in-sterling amount that appears on the credit-card statement can be found here http://www.nationwide.co.uk/support/support-articles/faqs/using-cards-abroad Link to comment Share on other sites More sharing options...
thebishbus Posted January 22, 2017 Share Posted January 22, 2017 Yes Derek. You are correct, we have had two different euro cash cards,neither would work at automated filling stations, but no problems at manned filling stations. Brian B. Link to comment Share on other sites More sharing options...
derek pringle Posted January 22, 2017 Share Posted January 22, 2017 hi, we have a pre-paid card from ASDA, think its a travelex and we have definitely had the odd problem when using it, again, all problems in Germany. cheers derek Link to comment Share on other sites More sharing options...
PJay Posted January 22, 2017 Share Posted January 22, 2017 We had a prepaid card from Tesco. Did find some problems, with it. one being unable to get a balance. Have now not bothered with getting another one. Take some cash and use nationwide CC, you always get a good rate of exchange, as it uses the commercial rate, I personally find nationwide had to beat , we get a better deal on this account than on our Nat west one. PJay Link to comment Share on other sites More sharing options...
starvin marvin Posted January 22, 2017 Share Posted January 22, 2017 Derek Uzzell - 2017-01-21 8:03 AM This link may be worth reading http://www.moneysavingexpert.com/travel/cheap-travel-money We use a Nationwide no-commission credit card for purchases overseas and a Santader “Zero” credit card to obtain euros. The “Zero” card is no longer offered by Santander and the ’trick’ is to pay off on-line the amount withdrawn from the ATM as soon as possible after the withdrawal has occurred. The “Zero” card has no up-front charges for overseas cash withdrawals but interest will begin to be applied until the ‘debt' is paid off. Clearing the debt very rapidly prevents interest being added. (I believe that it’s possible to do the same thing with a Halifax “Clarity” credit card.) Derek, have you thought about a Nationwide Flex Plus a/c. This allows fee free cash withdrawals, which you can clear be DD. We use this card all over the world for cash withdrawals and then let the DD take care of it. If of course you're in Spain a lot a Santander debit card is fee free for cash withdrawals. Link to comment Share on other sites More sharing options...
Derek Uzzell Posted January 22, 2017 Share Posted January 22, 2017 We’ve already got three Nationwide bank accounts and three Santander bank accounts, so I don’t think I want another. ;-) Link to comment Share on other sites More sharing options...
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