Currency - is it best value to get cash?

[RoseBug]

Just looking at getting our currency because... we go in 3 weeks!!!!!!!

The PO seems to have a good exchange rate, but not sure what to do with regards getting it changed. We've saved up quite a bit, we've budgeted 600E for food over the 4 days (character meals each day and a CS, and a few glowtinis!) and this will leave our spending money. Do I just take cash for everything? This seems like a silly idea safety wise, but I'd prefer to just have the cash.

Does anybody bank with Natwest and know about charges/exchange rates if you just use your debit card?

Rosebug is very excited now, and is telling everybody she is now big enough to go to Disneyland and is going to see Snow White and the Seven DWERPS!!! She cannot pronounce dwarves no matter how hard she tries!

 

[donna307]

I'm facing the same dilemma. Was thinking just to exchange maybe 200 to take. I don't think it's wise carrying a lot of cash either in your hand luggage or hold luggage. I was planning to wait until we get there, take out 500 from the ATM machine in the village on the way back to the hotel on the first night and keep it in the safe, taking out a set amount each day from the safe?

 

[cmwade77]

Guest relations at the parks will exchange currency, at least they did last time I needed to exchange currency from another country and they offered the best rates. If you are going to Universal Studios, they also exchange.

Since I am from the U.S. I am not positive that they still do this, so you may want to confirm, but it's a thought.

 

[tennisfan]

Just looking at getting our currency because... we go in 3 weeks!!!!!!!

The PO seems to have a good exchange rate, but not sure what to do with regards getting it changed. We've saved up quite a bit, we've budgeted 600E for food over the 4 days (character meals each day and a CS, and a few glowtinis!) and this will leave our spending money. Do I just take cash for everything? This seems like a silly idea safety wise, but I'd prefer to just have the cash.

Does anybody bank with Natwest and know about charges/exchange rates if you just use your debit card?

Rosebug is very excited now, and is telling everybody she is now big enough to go to Disneyland and is going to see Snow White and the Seven DWERPS!!! She cannot pronounce dwarves no matter how hard she tries!

From the Natwest site:

Foreign currency withdrawal from cash machines 2% (minimum £2, maximum £5)
Transactions abroad 2% (minimum £2, maximum £5)
Cash withdrawals 2% (minimum £2, maximum £5)

Purchase of currency or traveller's cheques using a Visa Debit card 2% (minimum £2, maximum £5)
Point of sale transactions: £1.25 per transaction

Exchange Rate Transaction Fee
Any transaction in a foreign currency is converted into sterling at our prevailing exchange rate and a transaction fee of 2.75% is subsequently applied for debit card transactions. This fee is known as the Exchange Rate Transaction Fee (ERTF).

I tend to take a bit in cash then charge everything on my credit card, I do have one that is commission free and I get business exchange rate.

We go to France a few times a year so whatever Euros we have left we keep

 

[Ware Bears]

I tend to take a bit in cash then charge everything on my credit card, I do have one that is commission free and I get business exchange rate.

That's what we do too as I don't like to take everything in cash. We had to take mostly cash to Rome last year as it's notorious there for 'the machine's not working' when it's time to pay the bill but I prefer to take some cash for drinks, ice-creams, small purchases etc and paying the shuttle to and from the airport, and then put our meals and major shopping on a fee free credit card.

 

[elstoleno]

I've been watching the exchange rate like a hawk!
Mainly because it got to a good rate then I got greedy and it fell dramatically

Anyway, its been on the rise again steadily until yesterday when it dropped a bit. For around £200 you can get €250. Not sure the POs rate, but I tend to get mine from Thomas cook, Asda and Tesco have a better rate than TC but none of my local ones have a currency booth, which is a shame since I work in asda atm -.-

If you look on the Martin Lewis site they have a tool gives you a rate comparison.
Remember to prebook your currency online for a better rate!

We usually take just over enough in cash for our food, but we tend to only eat counter service.

Have a nice trip


Update: The rate is rising again today. Thomas cook has the rate at 1.2460, so for £200.64 you would get €250

 

[HFJohnson]

I'd really recommend getting a Halifax Clarity Credit Card which I read about on Martin Lewis' site. It doesn't charge any transaction fees and you get the best exchange rate. It was really hassle free and we didn't have to think about how much cash to take, when to exchange etc. You can apply online so you might be able to get one before you go.

 

[RoseBug]

I'd really recommend getting a Halifax Clarity Credit Card which I read about on Martin Lewis' site. It doesn't charge any transaction fees and you get the best exchange rate. It was really hassle free and we didn't have to think about how much cash to take, when to exchange etc. You can apply online so you might be able to get one before you go.

I don't want to apply for any credit cards etc. especially not for a few days holiday. Thanks though, brilliant suggestion.

Exchange rate is very good atm, so need to figure out quickly what I want to do!

Thanks everyone!

xxx

 

[lush]

To be honest I've always taken the cash because I find it easier to keep track of what I'm spending and don't have a bill when I get home! I wouldn't recommend using your debit card as the charges can be high.

I used to work for amex foreign exchange and I can tell you now that the post office will most certainly NOT be the best rate you can get. In my experience they've always been one of the worst. Try m&s, Tesco or if you preorder from travelex and collect at the airport you'll get a preferential rate. Shop around and don't be afraid to barter, you'll be amazed how quickly they'll be willing to change the rate if you tell them you can it better two doors down.

With regards to the card vs cash debate - do also bear in mind that if a machine swallows your card or your card becomes damaged somehow and is therefore unusable you could be stranded with no way of getting at your cash. Worse case scenario I know but you'd be surprised how often I heard it!

 

[Ware Bears]

I can tell you now that the post office will most certainly NOT be the best rate you can get. In my experience they've always been one of the worst.

I would have agreed with you up until a couple of years ago but the last few times we've bought currency their rate has been one of the best from what I call 'safe' places to buy, especially if paid with their own card (avoiding cash advance fees) and ordered through a cashback site such as Quidco. I've always ordered it online though, it's a much poorer rate walking in off the street.

With regards to the card vs cash debate - do also bear in mind that if a machine swallows your card or your card becomes damaged somehow and is therefore unusable you could be stranded with no way of getting at your cash. Worse case scenario I know but you'd be surprised how often I heard it!

Good point I refuse to put any of my cards in an ATM abroad for this very reason!!

 

[netimka]

i was buying some Euro at Sainsbury and for E100 i paid £81.44 so think its good and you can get some nectar points...

also when i was waiting i picked up the leaflet for prepaid travel money card and was thinking that would be just for you RoseBug, the cashier was telling it very good as you can keep save for holidays for keep adding some funds and as long as you only use it with euros you wont pay a fee... you will be able to pick it up from lots places so there should be one near you...

http://www.travelex.co.uk/uk/cash-passport.aspx

hth