Cash?

rod... · Post by **rod...** » Tue Jun 10, 2008 1:53 pm

Right oh! A Nationwide Flex account it is, though that will have to wait until next time, as I'm a bit late to get it up and running for tomorrow night.

I should have posted this the other week. I'll learn.

Graham · Post by **Graham** » Tue Jun 10, 2008 2:10 pm

Hi fmm - I just looked it up and right now it would cost £200.40 with fairfx for E250 - that seems to be a good 5% better than ASDA - where did you get your £210 from?

fmm · Post by **fmm** » Tue Jun 10, 2008 3:21 pm

If you purchase less than £500 you have to pay £9.95 with fairfx - therefore this adds to the cost.

Graham · Post by **Graham** » Tue Jun 10, 2008 3:29 pm

True - unless you get the card through matalan.co.uk in which case it is free.

It would seem to me that whilst it is easy to compare actual costs per transaction (i.e. atm fees and credit card charges) when using plastic abroad, it is not very easy to compare the exchange rates that they use since they are not published.

My research is that fairfx, because they are using very close to the banks 'spot rates' are between 3% and 6% better than a visa/mastercard transaction. This would appear to be in itself quite a good saving.

I have now applied for one and will look closely to see how it compares
as time goes on.

PS It seems very easy to 'refill' the card - you can move money by bank transfer or just use your debit card on the website, therefore meaning that you do not necessarily need to 'overfill it'

PPS I also like the fact that if my wife nicks it she can't spend more than I put on there in the first place!

fmm · Post by **fmm** » Tue Jun 10, 2008 3:34 pm

Your PPS is very valid!
I just like having the money easily availble and I tend to use the nationwide to pay all my bills etc for the apartment, so it is easier for me to see at the end of the year exactly how much the apartment has cost to run (and enjoy!).

It will be interesting to see how much is saved - I agree that it is difficult to know in advance as it is almost impossible to get up to date rates. All I do is check my statement when it comes in to see how it matches to everything else.

SAM SPARKLE · Post by **SAM SPARKLE** » Tue Jun 10, 2008 3:35 pm

Graham wrote:True - unless you get the card through matalan.co.uk in which case it is free.

It would seem to me that whilst it is easy to compare actual costs per transaction (i.e. atm fees and credit card charges) when using plastic abroad, it is not very easy to compare the exchange rates that they use since they are not published.

My research is that fairfx, because they are using very close to the banks 'spot rates' are between 3% and 6% better than a visa/mastercard transaction. This would appear to be in itself quite a good saving.

I have now applied for one and will look closely to see how it compares
as time goes on.

PS It seems very easy to 'refill' the card - you can move money by bank transfer or just use your debit card on the website, therefore meaning that you do not necessarily need to 'overfill it'

PPS I also like the fact that if my wife nicks it she can't spend more than I put on there in the first place!

I've had a look at this as well Graham, and will also give it a go as I'm in and out of euroland all the time., a lot easier than opening a Nationwide a/c

Graham · Post by **Graham** » Tue Jun 10, 2008 3:42 pm

fmm - the last thing I want to know is how much the place has cost me each year, and I really do not want to know how much I have spent playing golf and eating out - I think the shock would be too much for me!

Avidblue · Post by **Avidblue** » Wed Jun 11, 2008 4:07 pm

Hiya,
We have decided to take all euros out with us and we got our from the post office, you can either get it delivered to your home address or you can collect it from any post office, and it is also commision free.

Or if u don't like taking all cash with you they do a card type thing... but don't know the details

Above all though, enjoy your holiday

nickbatch · Post by **nickbatch** » Sat Jun 14, 2008 11:03 pm

Have used Nationwide for some time, good rate and no charges.

See

http://corporate.visa.com/pd/consumer_s ... _rates.jsp

for rate used that day.

Beats any UK exchange seller I have found.

djprescott · Post by **djprescott** » Tue Jun 17, 2008 7:08 am

Sharen Crane wrote:Get a Nationwide Flex account! You don't pay interest charges when you withdraw cash abroad and you get that day's exchange rate!

I know regular posters I am becoming a bore over the whole Nationwide Flex account but really it is the best way to get cash if you are on holiday!!!!

Sharen, do you get a fair exchange rate on this account? Sometimes you find that when there is no charges they make up for this by using an inferior exchange rate. Also, can you apply on line for the account?

Thanks

Dave

Edit: Sorry didn't read the previous post - that answers my first question!