[Closed] Using credit cards abroad -vs- travellers cheques

I know a few financially astute travellers who use [url= http://www.caxtonfxcard.com/ ]caxtonfxcard[/url]

I don't think I could be arsed with Traveller's Cheques - even if anyone still accepts them (which I bet they don't) it means wandering around to find someone open to exchange them for you. And of course you still get charged (the exchange rates are usually rubbish in resort so you pay te exchanger through inferior rates rather than the fixed fees you get via a bank).

With cards you have access to your money 24 hours a day.

Travellers cheques? Yeah, use them but keep them safe along with your letters of safe conduct

CaxtonFX card here only costs a fiver to get one I think.

for the last little trip (long weekend in the med) it was cheaper to just draw cash out from a cash machine on arrival than any exchange rates I could get on the high street

Worth letting your bank or credit card company know you'll be out of the country
Not totally necessary most times but for the sake of an email, it could save embarrassment

My mum & dad are off to America in a week or so and were recommended to get a pre-paid debit card. Sounds like quite a good idea.

We have just got back from Turkey & it seems to be all Euro's now. We took Lira and most places had to re-calculate to give us a Lira price. This was always rounded up, so Euro would have been a better bet.

For the last few years we've just taken cash, split it between us & on occasion used the safe in the room.

uplink - Member
Worth letting your bank or credit card company know you'll be out of the country
Not totally necessary most times but for the sake of an email, it could save embarrassment

Do this too, if I were you.
I'd be tempted to tell them you are back a day earlier than you actually are though.
I rang HSBC, told them when we were due back and used my card on the day of my return.
My card was cancelled & I received a call from the fraud department explaining that my card had been used fraudulently. All of the 'fraudulent' transactions were transactions I had made on the day of my return.....

fairfx - preloaded, presumably like the caxton one

you can get 2 sorts, either dollars if you onyl want US or a sterling card that you preload & use a a debit card in any country and it converts at that day's exchange rate (their rates are pretty decent IMO). They'll also post cash to you at decent rates, though they charge delivery unless you buy quite a lot

(edit - there's usually a deal for getting a free one - maybe even quidco, or else I can give you a link that gives you a free card and also gives both of us £2.50 if you put more than £250 on 1st time round)

Thomas Cook also do a version of a debit card for abroad

I normally just use a credit or Debit card. You do end up paying fees but it is normally peanuts in terms of what you are spending on the holiday. For the security and convenience it's a cost I'm happy to take.

Don't like having loads of cash on me and travellers cheques seem a bit of a faff.

Tell your bank you're going as otherwise they may cancel the card. I can do this online.

Go and look at moneysavingexpert rather than asking on here. This time last year the recommendation was a Halifax credit card - no fees, proper commercial FX rate but you pay interest on the cash withdrawals. However, this worked out cheaper than any other way of getting cash.

It's certainly easy - only drawback is that it's a Mastercard which are less easy to use in some countries.

Do this too, if I were you.
I'd be tempted to tell them you are back a day earlier than you actually are though.
I rang HSBC, told them when we were due back and used my card on the day of my return.
My card was cancelled & I received a call from the fraud department explaining that my card had been used fraudulently. All of the 'fraudulent' transactions were transactions I had made on the day of my return.....

Worked for both RBS and lloyds tsb we don't keep a record of this if you ring, dont waste you're time the fraud checks are automatic, you can have you're card stolen on holiday and then maxed out, so just telling us you are going to the USA wont stop us blocking you're card when you try to use it there, just make sure you have the banks number so you can ring them, do the security checks and unlock it. .

everyone suggesting that he gets this card or that probably missed the bit where he's leaving in a week

jumpupanddown - Member

Worked for both RBS and lloyds tsb we don't keep a record of this if you ring, dont waste you're time the fraud checks are automatic, you can have you're card stolen on holiday and then maxed out, so just telling us you are going to the USA wont stop us blocking you're card when you try to use it there, just make sure you have the banks number so you can ring them, do the security checks and unlock it.

I was told by HSBC to let them know when I was going abroad to stop my card being cancelled. Perhaps they were lying, but that is what I was told by the bank.
Realistically I don't think it makes any difference. I have had my card cancelled twice when coming back from holiday & I think it is more to do with a computer somewhere noticing that the card has had a week of no transactions, followed by several transactions on one day, upon my return from holiday.

uplink - Member
everyone suggesting that he gets this card or that probably missed the bit where he's leaving in a week

I don't know how good they are in terms of exchange rate, but I think the Thomas Cook one can be sorted out in store if you take ID with you.

Yup - we fly out next thursday morning.

I'll apply for the CaxtonFX card anyway - if it arrives in time, then good. If not, then I'll use the debit card as previously.

The problem is that (according to moneysavingexpert) Lloyds charge a fortune - a percentage of the total, plus a fixed fee - per transaction.

I'm not a skin-flint, but I don't want to give the banks any more than I already do.

Get a halifax clarity card. No fees on using it abroad and excellent exchange rate

I don't know how good they are in terms of exchange rate, but I think the Thomas Cook one can be sorted out in store if you take ID with you.

Get a halifax clarity card. No fees on using it abroad and excellent exchange rate

Be wary of cards that get bounced overseas. Nearly came a proper cropper in August when all my cards got rejected, been there a few times so always have a plan B

your looking at about 2-3 weeks to get the card through.

To be honest I always take cash, but I'm travelling for business usually so feel fairly well protected should it go AWOL. Big purchases like hotel bills go on CC, taxis and meals go on cash.

Thanks for all the info folks, much appreciated.

Been to Turkey recently and used cards. Much easier and TBH with teh right card, no significant extra expense over any other method that I found.

Being a pair of luddites, we still take travellers cheques, mainly as a useful way to gauge how much we're spending.

I gather these prepaid cards don't have any protection (if you loose them) nor can they tell you how much you have left on them?

I'm also surprised Stumpy had to do Euro conversions in Turkey cos we were out there two weeks ago and we either did Sterling or Lira.

I get the impression that many Turks don't want to join the single European currency.

Anyhoo, back to the OP. I'd get a load of lira cash beforehand plus take sterling (TC's or cash). Travelex generally offer the best rates plus you can preorder and pick up when you actually travel. - Definitely DON'T change money at the airport on the day as you'll get spanked

Prepaid Credit card from Post Office ...

I'm also surprised Stumpy had to do Euro conversions in Turkey cos we were out there two weeks ago and we either did Sterling or Lira.

We could pay (and did) in Lira, but ALL the menus etc. were in Euro's so they'd convert the Euro price & then round it up.

Where were you Stumpy? A large or small resort?

Titreyengol, near Side & Manavgat.

Side is the nearest resort I guess and it is pretty small.

[url= http://www.tripadvisor.co.uk/Hotel_Review-g297967-d638287-Reviews-Seven_Seas_Imperial-Manavgat_Turkish_Mediterranean_Coast.html ]We Stayed Here[/url]

Prepaid credit is the way to go. Co-Op had good rarws in early summer. Really easy to use & get cash from.
Get them in euro but sterling & US dollar available.
Can be charged up to use in future & excellent resoonse if you lose it with $600 on it.....