Buying from US sites or buying in $ or going to USA. How to get the best exchange deal & not pay charges. - HotUKDeals
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Buying from US sites or buying in $ or going to USA. How to get the best exchange deal & not pay charges. £9.95

kingy58 Avatar
8y, 3m agoPosted 8 years, 3 months ago
This deal is not for everyone and it is not the only Travel card on the market, but it is a very useful way of getting the best exchange rate if you are buying from an American website and dont want to get hit with transaction fees and lousy exchange rates from your normal credit card company.
Travel cards work by you loading money onto them before you set off (either in $ or Euro) and it then reduces down every time you use the card but you pay NO transaction fee for using them except at ATM's ($2). If you can afford to tie the money up in advance and buy when the rate is good you will get the best advantage.
If you look at FairFX's daily exchange rate it is always much higher than a bank's.
Now there has been a terrific deal floating around this week for plane tickets to America and I have just booked flights for next year but I paid for them using this card and transferring the money I needed from my bank account first at $1.81/£ (you have to wait 2 hrs for the funds to be available) but my UK credit card company are using an exchange rate around $1.7/£ at the moment.
We just returned from a holiday in USA, (courtesy of a British Airways deal via Expedia from HUKD @ £279 return - and we even had an upgrade to Business Class!!) and I used this card for all my purchases/restaurants/cash withdrawls having loaded it when the rate was $2.050/£ and it worked flawlessly.
There's also £8.20 Quidco just for signing up.
Paragraphs added!!
Matalan have a promotion where you can get the card without paying the initial fee.


http://www.fairfx.com/travelcards
kingy58 Avatar
8y, 3m agoPosted 8 years, 3 months ago
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#1
Soz to be negative, but I tried to read that and gave up after the 1st line, paragraphs are nice :)
#2
if you go through the matalan website you can get the card free.:thumbsup:
#3
good concept.. I like using my nationwide cc good rates and no fees either for uses abroad.


Edit: Card Issue Fee £9.95 includes purchase and activation on orders over £500

if you go through matalan you wont get quidco right??
#4
Correct, no Quidco via Matalan, and no fee if you load more than £500 initially but the £8.20 cashback (which I received within 2 months) covers most of the £9.95 fee.
#5
I use a Nationwide card so there are no transaction charges. Not sure about the exchange rate though.
#6
littld;2855744
I use a Nationwide card so there are no transaction charges. Not sure about the exchange rate though.

I would be very surprised if it was as good as FairFX's. I did a lot of homework before ordering mine and their rate was always considerably higher than any of the other Travel cards on the market. For example the Post Office were giving $1.89/£ when FairFX were doing $2.05/£. Big difference.
#7
Another option, again not for everyone is the Abbey Zero Credit Card for use purchasing abroad, plus security that you get with buying on Credit Cards. Really good if you clear your balances as not the lowest APR after the introductory period.

0% balance transfer fee
0% foreign exchange fee
0% cash advance fee*
£0 annual fee
0% on balance transfers for 6 months**
0% on purchases for 6 months
Up to 56 days interest-free credit.
Standard typical rate of 18.9% APR (variable).

*Some independent ATM providers may charge you a fee for cash withdrawals.

** To benefit from the promotional rate of 0% you must make your balance transfer(s) within one month of opening your account. You cannot transfer balances from other Abbey accounts (including Cahoot).
#8
Prepaid cards are useless on the whole - just read on moneysavingexpert about why they're one of the least efficient methods of spending abroad. There was a similar deal on here not that long ago, people who signed up soon found out that the 'fantastic too good to be true' exchange rate was exactly that, as it vanished as soon as they started topping up the card.

Nationwide cards are the way forward - 0% commission and the interbank rate for exchange rates.

This is freezing.

EDIT: It costs $2 every time you make an ATM withdrawal too.
banned#9
Nationwide Debit card gives you the BEST rates available & NO hidden charges whatsoever.
You can also use internet banking to make sure you have enough in your current account.

Nationwide CREDIT card (don't use in hole in wall- never use a credit card in these!) gives you exactly the same rate & NO charges iwhatsoever if you use it to buy goods or services
#10
rubbish
just use nationwide
#11
nationwide all the way !
[admin]#12
[B]Moved this to misc, it's not really a deal, more a tip :)

Thaniks
[/B]
#13
moob;2855821
Prepaid cards are useless on the whole - just read on moneysavingexpert about why they're one of the least efficient methods of spending abroad. There was a similar deal on here not that long ago, people who signed up soon found out that the 'fantastic too good to be true' exchange rate was exactly that, as it vanished as soon as they started topping up the card.

Nationwide cards are the way forward - 0% commission and the interbank rate for exchange rates.

This is freezing.

EDIT: It costs $2 every time you make an ATM withdrawal too.

I agree the Nationwide card is excellent, but what you say about the exchange rate isn't correct. It goes up and down with the markets but the rate these people offer is usually better than you find elsewhere and for buying from US websites its considerably better than using a normal UK credit card.
HSBC charge considerably more than $2 for an overseas cash withdrawl so this card is better.
My post was to show how people can get better deals when using these cards compared to using normal credit cards, not to say this particular card is the best.
#14
get the abbey "zero" credit card - no foreign exchange fees, no cash withdrawal fee, 6mth 0% balance transfer with no BT fee
#15
kingy58
I agree the Nationwide card is excellent, but what you say about the exchange rate isn't correct. It goes up and down with the markets but the rate these people offer is usually better than you find elsewhere and for buying from US websites its considerably better than using a normal UK credit card.
HSBC charge considerably more than $2 for an overseas cash withdrawl so this card is better.
My post was to show how people can get better deals when using these cards compared to using normal credit cards, not to say this particular card is the best.



Fair enough, but these cards do have charges, unnecessary ones at that too - any benefit you're supposedly gaining from these rates you're quoting will be swallowed up by these fees.

BTW - from their website, this is the current rate they apply to the dollar:
FairFX Currency Card 1.7950

The current wholesale rate applicable to Nationwide transactions is 1.82160 - significantly better.

I take it the rates were significantly better when you loaded your card - therefore the same follows for the wholesale/interbank rate above.

So, in essence, this card has absolutely zero benefits over the Nationwide Card, whether it be the Debit or Credit card, in fact, it's much worse.
#16
I suppose now would be a good time to get a prepaid card, as the pound appears to be in freefall against the dollar?:x
banned#17
littld;2855744
I use a Nationwide card so there are no transaction charges. Not sure about the exchange rate though.

Same here and their exchange rates are second to none as they use the intra-bank exchange rates, not tourist rates (I got €1.31 to the £ on a recent trip to Crete).

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