Virgin Money Debit Card In Eu

[carosio]

1 hour ago, Mossway said:

If you are drawing money and are offered options in the EU  on a Bank Screen don't use DCC (Dynamic Currency Conversion) - use whatever the other option is. DCC is a rip off ! Google it.

Noted!

57 minutes ago, S35_2o21 said:

Have you looked at the Money Saving Expert website? There is some good advice on there about the options. If you are wanting to use cash, the exchange rate can between the providers. 

yes, it's a tricky area to the unwary is  currency conversion, and I will note any advice there.

[HeHasRisen]

1 hour ago, Mossway said:

If you are drawing money and are offered options in the EU  on a Bank Screen don't use DCC (Dynamic Currency Conversion) - use whatever the other option is. DCC is a rip off ! Google it.

Same applies if offered a choice on a card machine. 

[Mossway]

Thread drift-

If you're going to France don't use the machines at Credit Agricole Bank as they have a €5 surcharge for using them ! (I'm in France à ce moment)

[Chekhov]

On 25/04/2023 at 16:46, ECCOnoob said:

I find one of the best things to do is get yourself a prepaid currency card from one of the exchange places like the Post Office, travelex or Sainsbury's travel money.  You can load them up with a set amount of foreign currency and then use it just like a regular bank card abroad either by using a ATM or contactless with no fees.  When you come home, any leftover for currency can then be withdrawn from the card back into cash sterling.

When you swap back again is the exchange rate worse or the same ? That's where they get you, the buy and sell rates are usually different.

Also, can these cards also be used in NZ,  AUS and South Korea ?

 

This is the problem with cards, foreign exchange fees and such, I can remember when we had to use a card to buy bus tickets in Utrecht because they would not take cash. I was pretty annoyed because I knew we'd get ripped off for the fees. This is why we always try to use cash on holiday but more and more places will not take cash, plus we do not know how many years it will be till we could use any NZD (or AUSD or Won) next !

 

[Annie Bynnol]

2 hours ago, Chekhov said:

When you swap back again is the exchange rate worse or the same ? That's where they get you, the buy and sell rates are usually different.

Also, can these cards also be used in NZ,  AUS and South Korea ?

This is the problem with cards, foreign exchange fees and such, I can remember when we had to use a card to buy bus tickets in Utrecht because they would not take cash. I was pretty annoyed because I knew we'd get ripped off for the fees. This is why we always try to use cash on holiday but more and more places will not take cash, plus we do not know how many years it will be till we could use any NZD (or AUSD or Won) next !

    Cash has never been an efficient way of using money in most foreign countries people visit. The exception was buying with $US.

    Most cards exchange rates are far more favourable than buying/selling cash,

    You have to choose between the cards, some are single currency, some are liked to your account, some are prepaid, some are debit, credit or both. Some need to be applied for and you can be refused.  All have different fees and charges.

     Your own  bank can be best but Post Office Travel Money Card allows you to use an app to hold and transfer between the following countries: euro, US dollar, Australian dollar, UAE dirham, Canadian dollar, Swiss franc. Chinese yuan, CZK, Danish Krone, Pound!,Hong Kong dollar, Hungarian forint, Japanese yen, Norwegian krone, New Zealand dollar, Polish zloty, Saudi riyal, Swedish Krona, Singapore dollar, Thai baht, Turkish lira and South African rand.

 

More info

[HeHasRisen]

2 hours ago, Chekhov said:

 

 

This is the problem with cards, foreign exchange fees and such, I can remember when we had to use a card to buy bus tickets in Utrecht because they would not take cash. I was pretty annoyed because I knew we'd get ripped off for the fees. This is why we always try to use cash on holiday but more and more places will not take cash, plus we do not know how many years it will be till we could use any NZD (or AUSD or Won) next !

 

Times have changed. I went to Spain recently. I was getting 1.13 to the pound all week on a forex and fee free debit card whilst the best rate I saw in a change shop was 1.08.  There are loads of these cards on the market now, do some research. 

 

If you want to diddle yourself out of a few percent each time, you crack on with the "cash is king" mantra. 

Edited May 7, 2023 by HeHasRisen

[Chekhov]

6 hours ago, HeHasRisen said:

Times have changed. I went to Spain recently. I was getting 1.13 to the pound all week on a forex and fee free debit card whilst the best rate I saw in a change shop was 1.08.  There are loads of these cards on the market now, do some research. 

If you want to diddle yourself out of a few percent each time, you crack on with the "cash is king" mantra. 

Sainsbury's is selling Euros for 1.106 per pound, or AUSD  = 1.81, as we speak.

RBS for purchases on a Debit card is 1.11 per pound (though this is subject to change), or AUSD = 1.82 , but that is plus a foreign currency fee, i.e. overall it's significantly worse. In fact for small purchases it's terrible.

For those who have the time to check up on all the latest deals on a load of cards and in fact hold more than one card I am sure one could do better, but most people do not have the time or inclination. Life is complicated enough.

 

[Annie Bynnol]

Platting fog- one card, several currencies, transfers, top ups organised anywhere in the world, up front costs, safe and secure and invariably cheaper. Please don't make this one of your crusades.

 

[Chekhov]

I have just had a shock and a half....

I paid for NZ our camper van with my RBS Mastercard credit card and, since I always pay off the balance on the statement, did not expect any fees or interest.

Err, no.

My bank statement reveals I was stung for a £71 foreign transaction fee !

On phoning them I was told "that's an old product but we do a card with no foreign transaction fees."

I asked what it was called and they said "The Royal Bank Credit Card"

"That's what I've got" I said.

"No sir you have a Royal Bank of Scotland Platinum card, we do 6 different credit cards, all with slightly different names".

Do these people seriously think most people know all this, and or have the time to research it ?

Is it any wonder people are so cynical about banks ? And indeed many businesses these days....

 

Applying was a complete joke.

They asked me loads of questions they didn't even need to (I have been banking with them for about 18 years), but I could just put what figures I wanted to in anyway. Then they required me to "read" all their terms and conditions, reams of it. I'll bet only 1% of people would do that.

Total cobblers.

Edited May 15, 2023 by Chekhov

[HeHasRisen]

If you are making transactions in foreign currency, especially large ones, and don't spend at least 5 minutes checking the terms, more fool you. 

 

Not quite sure why a camper van is attracting a foreign transaction fee though. What has New Zealand got to do with it, have you forgotten to type a word or two? 

Edited May 15, 2023 by HeHasRisen