Managing money France/Spain

[sian_5062266]

I'm going over for the winter, October to March, what's the best way to deal with banking ie getting cash etc. My bank (barclays) say they will charge each time I use my debit card abroad and that there are restrictions on how much I can take from my uk bank accounts. All usual bills gas,elec,phone,c tax etc are already paid by DD, so all I need is to get my hands on cash for daily living, any suggestions gratefully accepted.

 

[Angus1]

I opened an account with the Nationwide (never used it yet though) as they say that they don`t charge for using your current account abroad.

I gather their interest rates if your flush enough not to have an overdraft are better, and they don`t charge a fee for the priviledge of banking with them.

Apparently all their call centres are in Britain so you also have a fighting chance of making yourself understood if you ring them (a BIG positive in my book) and none are in Liverpool so you don`t have translation issues!

 

[Rioja]

"Apparently all their call centres are in Britain so you also have a fighting chance of making yourself understood if you ring them (a BIG positive in my book) and none are in Liverpool so you don`t have translation issues!"

Och aye that's rich with a name like Angus !

 

[RodG]

Hi Sian

We are also going to Spain, Oct - March at La Manga, I believe the best way to draw cash if the bank does charge is to draw the maximum as you only pay for the one transaction. The other thing to consider if your house is unocupied is to speak to your energy supplier and reduce your monthly payment, also tv licence as you don't need to pay while you are away and the phone can also be reduced. I have spoken to my suppliers and they are all prepared to do this.

Regards

Rod G.

 

[Graham_374228415]

We always use the Nationwide flex account debit card and draw money out when we need to. There is no charge on each transaction and a better rate than almost any other bank.

We are just back from a trip around Europe and we got 1.48 euros per pound.

 

[BeemerMal]

sian.....We visit Spain for 3 months each year and I always pay for most things, campsites, diesel, supermarkets, eating out etc with my mastercard.

I set up a variable direct debit with my bank and this is paid off in full every month, so I avoid any credit card interest charges. Also, I have set up online accounts with my bank so I can track my current account and my credit account expenditure.

I have found the exchange rate very favourable using my credit card and we only pay cash for small items so usually a few hundred pounds in cash is all we take with us plus we take our debit cards just in case for emergencies only but to date have not used them.

 

[sian_5062266]

thanks everyone, by the way Rod G - maybe see you in Spain, I'm going to La Manga myself!!

 

[RodG]

Sian

Hope so,look for black Santa Fe & Coachman 462( or Elddis 544 ) if I manage to sell my van before we go.Will have a glass waiting.

Regards Rod & Jenny G

 

[sian_5062266]

Great, I'll keep my eyes out, I'll be in a new Wyoming (hopefully) and a black Landcruiser!!

 

[RayS]

I use nationwide and find them pretty good. you can register for internet banking (even with just a card account) and check it from time to time over there although I don't advise doing this from internet cafes.

The other no-penalty card at the moment is issued by Civil Service Motoring Association - CSMA - which you can join if you or any member of your family works or has worked for any gov. department or offshoot like post office, police, BNFL, etc. etc.

This card used to be from Frizzell but is being handed over to Egg (I think). Currently they have promised to honour the present terms, but not sure how long this will last. Last year it stopped being world-wide and becoame only EEC.

It's better to draw cash on a debit card, or you will find the interest on a credit card starts when you take the money out, not at the statement day, and since any direct debit payments you make are delayed usually two weeks from the statement date, it will take some months for the interest to actually get paid off, giving an overall rate quite a lot more than the published rate.

There are also new cards you can "load" with money before you go - I think directly into euros - and then withdraw cash without any further charge _ don't take this as gospel as i have not done my homework on them yet.

 

[Guest]

Then 'load up' cards are fine, but can be expensive. Check the small print carefully.

There is one other way to get money abroad if you are planning to stay for some time and that is to open a Euro account with a foreign bank. Mine allows me to withdraw 300 Euros per day without charge anywhere in Europe that uses Euros. They do charge me to deposit money, so get their bit that way.