Travel money cards...

[carreauchompeur]

I am off to Hong Kong then Vietnam next week... 3 week holiday. It appears that I'm cutting this magnificently fine, however what are people's experiences of the pre-loaded cards?

I have obtained £250 (cash) in a mixture of Hong Kong dollars, US dollars and Vietnamese Dong which should keep me going for a reasonable length of time, I'm intending to put most of the spending on credit card but obviously need cash for beer and hookers

I'm wondering whether it will be substantially beneficial to get a pre-loaded card rather than using my LTSB debit card to withdraw cash from ATMs in Vietnam... Nonplussed about traveller's cheques because you get charged twice... I know that LTSB is supposedly one of the more expensive cards to use abroad. Last time I was forced to use my credit card which was seriously painful WRT fees!!

Any ideas?

[carreauchompeur]

Added to this, given that they don't do it in Vietnamese Dong, is there any advantage to having a US dollar one, or just convert from pounds?

[T5R+]

Superb way of doing things.

Can secure best conversion rate before you travel.

Issued with a PIN and if you lose the card, you know money is safe.

DRAWBACKS
ATM cannot give you an accurate balance.
Website tracking of spend is excellent but accurate balance numbers can lag due to retailers.
If card is lost - you will not be able to get replacement "there and then".

Recently started using these on business trips and am now a convert

[5potTurbo]

Carreauchomper: I would go for USD in Vietnam

Enjoy the, err, "local sights".

[carreauchompeur]

Thanks, I'm currently trying to decide what to do... I notice in the small print that whilst the initial load is without commission, at the prevailing conversion rate, it is converted to the local currency at mastercard rate plus 5.75%, which might not make it substantially better than withdrawing cash on my Visa debit card...

[T5R+]

Ensure you check with other suppliers.

I use somebody that sounds like "mytravelcash" and they are excellent. Only thing that I get charged is ATM fee whenever in the US of A.

Am aware that some companies charge all sorts of silly fees, so good to check smallprint.

[carreauchompeur]

T5R+ said:

Ensure you check with other suppliers.

I use somebody that sounds like "mytravelcash" and they are excellent. Only thing that I get charged is ATM fee whenever in the US of A.

Am aware that some companies charge all sorts of silly fees, so good to check smallprint.

Unfortunately I have run out of time. The only "Instant" option I know of is from Travelex... Departing on Weds.

[Tuscanless Ali]

I've been given an escape card from phones 4 U. Not used it yet but think you only get charged for withdrawing cash, purchases there is no charge. Have a google see what u think.

[carreauchompeur]

Tuscanless Ali said:

I've been given an escape card from phones 4 U. Not used it yet but think you only get charged for withdrawing cash, purchases there is no charge. Have a google see what u think.

Sorry, not instant... No can do!

[Gareth79]

It's too late to apply now, but for next time the Santander Zero or Halifax Clarity are completely free of charges for foreign spending and ATM withdrawls. You will pay immediately pay interest on the withdrawls until they are paid off, but you can pre-load the account with a positive balance to minimise this (technically against the T&C's but they seem to overlook it).

[5potTurbo]

Post Office travel card?

[Vipers]

carreauchompeur said:

Nonplussed about traveller's cheques because you get charged twice

Dont understand that bit, there is no charge to cash in travellers cheques, if you have $200 US in travellers cheques, you get $200 when you cash them in, of course the rate will flucturate.

Not sure what the currency rate is, but last time I was in Vietnam, I was a millionair, something like 22,500 VND to the pound, so when I put my cash card in the ATM, and took out 50 quid, got just over a MILLION Dong......

[carreauchompeur]

Vipers said:

carreauchompeur said:

Nonplussed about traveller's cheques because you get charged twice

Dont understand that bit, there is no charge to cash in travellers cheques, if you have $200 US in travellers cheques, you get $200 when you cash them in, of course the rate will flucturate.

Not sure what the currency rate is, but last time I was in Vietnam, I was a millionair, something like 22,500 VND to the pound, so when I put my cash card in the ATM, and took out 50 quid, got just over a MILLION Dong......

Exchange rate still much the same- I got out fifty quid which turned into about 1.4 million dong. Not sure how on earth I'm actually going to work it out...


What I meant about travellers cheques is that I would have to convert twice, with the attendant losses- If I could spend in USD that would be a different matter!

[mcflurry]

I saw one in my local travel agent. IIRC it's free when you load up $500.

[carreauchompeur]

mcflurry said:

I saw one in my local travel agent. IIRC it's free when you load up $500.

It's great loading it up- No commission for USD and a fairly keen exchange rate. However there is then a 5.75% loading on the Mastercard rate when you withdraw money abroad if it requires a "conversion" which it will. And from personal experience a lot of foreign ATMs add a charge at point of withdrawal, which then starts to make it a slightly less attractive proposition. Having said that, though, my debit card will charge me £1.50 per withdrawal and has a 3pc loading so it's all swings and roundabouts.