Good Tip....??

[jocap]

On 3/30/2021 at 8:12 PM, iancal said:

We have a pouch that we keep.  Currently is has Euros, GBP, USD, Mex Pesos, Cuban Conv. pesos,  and Thai bhats.  We just hold on to them.

Be careful with the UK's ££ notes- £5, £10 and £20 have been replaced with polymer ones, and the latest, the £50, will appear this June. There's usually a period when paper notes will still be accepted, but the first two have been around for a while now. 

[iancal]

9 minutes ago, jocap said:

Be careful with the UK's ££ notes- £5, £10 and £20 have been replaced with polymer ones, and the latest, the £50, will appear this June. There's usually a period when paper notes will still be accepted, but the first two have been around for a while now. 

Thanks.  We went the same way in Canada to polymer.  I have a feeling that our Cuban convertable pesos may be out of date but we only have a minimal amount.

[Toofarfromthesea]

21 hours ago, electro said:

It does seem much easier to get foreign currency in Canada than in the US.

I lived in Colorado for 4 years and it was a real PITA to get currency for a trip. Went to my bank and said I want to buy some Euros and their response was "we don't do that" . I was like, what do you mean you don't do that, your a bank! I never had that happen in Canada.

Wow, I've never had a problem getting foreign currency in Colorado.  Euros, Pounds, and Pesos were generally "in stock".  Less common currencies like the Zloty or Forint had to be ordered ahead.  This was Wells Fargo.

[lissie]

33 minutes ago, jocap said:

Be careful with the UK's ££ notes- £5, £10 and £20 have been replaced with polymer ones, and the latest, the £50, will appear this June. There's usually a period when paper notes will still be accepted, but the first two have been around for a while now. 

Oooh - i didn't know that - I think I still have a few small GBP notes in my travel drawer 

[clo]

7 hours ago, cb at sea said:

I would NEVER use a debit card internationally....heck, I don't use one at all!  Credit cards offer MUCH better protection!

We use ours at ATMs. We're not going to pay a fee to get a cash advance on our credit card.

[c-boy]

26 minutes ago, clo said:

We use ours at ATMs. We're not going to pay a fee to get a cash advance on our credit card.

the fees and interest. 

[clo]

1 minute ago, c-boy said:

the fees and interest. 

So do they charge interest on top of the fee even if you pay in full every month?

[c-boy]

Just now, clo said:

So do they charge interest on top of the fee even if you pay in full every month?

clo, you are of the 1.27% that pay the entire amount off monthly. 

[clo]

Just now, c-boy said:

clo, you are of the 1.27% that pay the entire amount off monthly. 

ABSOLUTELY!!!!! 100% of the time. Always and forever. Did you make up that %???

[nascarcruiser]

On 3/25/2021 at 4:53 AM, wowzz said:

Does anyone actually use cheques anymore? I haven't written one for at least 7 years. 

We do for certain things. The little town we live in you have to pay the water bill by check.  Can't do it online 

[neverbeenhere]

53 minutes ago, clo said:

ABSOLUTELY!!!!! 100% of the time. Always and forever. Did you make up that %???

 Different stat but 45ish% of Americans carry a monthly balance on cards. I'm guessing those over 18. Maybe also: those with cards. And maybe: those that use the cards monthly.

[Mary229]

1 hour ago, clo said:

ABSOLUTELY!!!!! 100% of the time. Always and forever. Did you make up that %???

It is actually 42%.  Americans, though not perfect, are not as bad with their money as the headlines scream. 

[Philob]

1 hour ago, clo said:

So do they charge interest on top of the fee even if you pay in full every month?

The fees and interest begin on the day you take a Cash Advance from your credit card. 

[clo]

6 minutes ago, Philob said:

The fees and interest begin on the day you take a Cash Advance from your credit card. 

Thanks. Since we've never done that, I didn't know.

[iancal]

We often take cash advances on our no admin fee FX credit card.

 

The trick is to build up a credit balance on the card.   So, from time to time we go on line and transfer money from our bank account to our card.   That way, when we get a cash advance there is NO interest charge.  We will typically have a $1500 credit balance on the card as we leave home.

 

Doing this on our credit card is often more advantageous than doing it with our ATM card.  Our bank charges us a $5. fee plus their exchange is very poor, as in 3-5 percent  poor.  

 

We have been doing that for a number of years.  It is fairly easy to manage as we travel. Our cash withdrawals are usually in the $500-600 range.  We keep track of credit card card charges as we travel.   Never an issue in nine years.

Edited April 1, 2021 by iancal

[ontheweb]

1 hour ago, clo said:

ABSOLUTELY!!!!! 100% of the time. Always and forever. Did you make up that %???

Same here, and I would not be surprised if that percentage is made up.

[clo]

37 minutes ago, iancal said:

We often take cash advances on our no admin fee FX credit card.

 

But why not just a plain debit card. As stated it's used ONLY at ATM machines.

 

37 minutes ago, iancal said:

Our cash withdrawals are usually in the $500-600 range. 

Holey moley. What do you pay for with that kinda cash? We don't want much, if any, foreign currency left over. And if it's chargeable we charge it. Love those points 🙂

[ISLABONITA]

On 3/24/2021 at 4:07 PM, mom says said:

What dumb*** recommended that? All of the reliable travel experts I've read say just the opposite.  What they do say is to use only your debit card for ATM cash withdrawals, and for extra protection, use a card that is only attached to an account used only for travel purposes.  Use local cash, or a credit card for most purchases.  Preferably a card with no conversion fees.

I have been doing this for years for all of the above reasons. I go to my bank ask for a second debit card and put X amount of money in it just for ATM cash withdrawals, everything else I put on a credit card with no foreign exchange fees. 

 

Edited April 1, 2021 by ISLABONITA

[clo]

37 minutes ago, ISLABONITA said:

. I go to my bank ask for a second debit card and put X amount of money in it just for ATM cash withdrawals

You actually go to your bank? Wow. When the expiration date nears they send us a new card and we go online to activate it.

[ISLABONITA]

10 minutes ago, clo said:

You actually go to your bank? Wow. When the expiration date nears they send us a new card and we go online to activate it.

I close it after returning from our trip, there's a recurring fee if kept open longer than 3 mos .

[K32682]

15 hours ago, jocap said:

Be careful with the UK's ££ notes- £5, £10 and £20 have been replaced with polymer ones, and the latest, the £50, will appear this June. There's usually a period when paper notes will still be accepted, but the first two have been around for a while now. 

 

The UK seems to change notes more often than other countries but the Bank of England will exchange them no matter how old they are.

 

https://www.bankofengland.co.uk/banknotes/exchanging-old-banknotes 

[iancal]

12 hours ago, clo said:

But why not just a plain debit card. As stated it's used ONLY at ATM machines.

 

Holey moley. What do you pay for with that kinda cash? We don't want much, if any, foreign currency left over. And if it's chargeable we charge it. Love those points 🙂

It is not unusual for us stay in places where cash is requested.  Often the case in SE Asia-Thailand and Vietnam.   Sometimes there is a premium added for credit card payments-3 to 5 percent.   

 

In Europe it is not unusual for us to obtain a lower price/discount when we pay with cash.  Our last trip to Greece prior to covid one stay was 350E with credit card, through a third party.  Direct with the owner it was 250E cash.  Those cash transactions a few times and it adds up.

 

We always use our credit card when it is to our advantage.  Not going to concern ourselves with credit card points if we can secure a good discount for cash.

 

We plan our cash so that we do not return with an excessive amount of foreign currency.

Edited April 1, 2021 by iancal

[Philob]

In a few years it won't be the question of using a debit or credit card, it'll be which pay app to use 😎

[clo]

12 hours ago, ISLABONITA said:

I close it after returning from our trip, there's a recurring fee if kept open longer than 3 mos .

I can't remember paying our bankS any fees for any things. If they tried that we'd change banks.

[clo]

1 hour ago, iancal said:

It is not unusual for us stay in places where cash is requested.  Often the case in SE Asia-Thailand and Vietnam.   Sometimes there is a premium added for credit card payments-3 to 5 percent.   

 

In Europe it is not unusual for us to obtain a lower price/discount when we pay with cash.  Our last trip to Greece prior to covid one stay was 350E with credit card, through a third party.  Direct with the owner it was 250E cash.  Those cash transactions a few times and it adds up.

 

We always use our credit card when it is to our advantage.  Not going to concern ourselves with credit card points if we can secure a good discount for cash.

 

We plan our cash so that we do not return with an excessive amount of foreign currency.

Thanks for explaining. We tend to stay in places that cost around 30E 🙂