Euro's or Sterling ?

What is best to take to Tenerife ? ? ?:

An ATM card, a PIN with four digits (not more or letters) and the
realization that travelers' checks have gone the way of the Spruce Goose now
that cashpoints are on every street corner. If you choose your card provider
wisely, you'll get decent exchange rates and no- or low-fee transactions.

"Mark Hewitt" wrote
Do banks usually charge a fee for withdrawing Euro's abroad?

I know to avoid ATM's in hotels etc, they always charge a silly fee.

Shortly after the introduction of the euro the european commission
took action so that those silly fees disappear, since some banks were
continuing to charge for a non-existent service... It concerned only
countries that had adopted the euro though. There is still a
commission to pay if your banking account is in GBP.

"Mark Hewitt" wrote
Do banks usually charge a fee for withdrawing Euro's abroad?

I know to avoid ATM's in hotels etc, they always charge a silly fee.

Shortly after the introduction of the euro the european commission
took action so that those silly fees disappear, since some banks were
continuing to charge for a non-existent service... It concerned only
countries that had adopted the euro though. There is still a
commission to pay if your banking account is in GBP.

On Mon, 20 Sep 2004 07:49:25 -0400, "Fustanella"
wrote:

What is best to take to Tenerife ? ? ?:

An ATM card, a PIN with four digits (not more or letters) and the
realization that travelers' checks have gone the way of the Spruce Goose now
that cashpoints are on every street corner. If you choose your card provider
wisely, you'll get decent exchange rates and no- or low-fee transactions.

And keep in mind that if ther's a two pound transaction charge on
a withdrawal of two hundred pounds, that's only 1%, which is a
lot better than most exchange rates.

I don't know about UK banks but many American banks are charging
one or two percent extra on top of the roughly 1% conversion rate
used by the internatioal ATM system, which is still better than
trying to convert cash, but it grates since the bank does nothing
to earn that added fee.

************* DAVE HATUNEN ) *************
* Tucson Arizona, out where the cacti grow *
* My typos & mispellings are intentional copyright traps *

Neither. Take your bank cashcard - check with your bank first (also
have a look on the back to see if it has a Cirrus or Maestro symbol),
but you will almost certainly be able to use it in Spanish cash
machines.

PJW

On Mon, 20 Sep 2004 09:21:13 +0000 (UTC), TomT
wrote:


What is best to take to Tenerife ? ? ?:

Sterling Travellers Cheques and convert them thier..

OR

Euro Travellers Cheques purchased over here (UK)...

Thanks

Neither. Take your bank cashcard - check with your bank first (also
have a look on the back to see if it has a Cirrus or Maestro symbol),
but you will almost certainly be able to use it in Spanish cash
machines.

PJW

On Mon, 20 Sep 2004 09:21:13 +0000 (UTC), TomT
wrote:


What is best to take to Tenerife ? ? ?:

Sterling Travellers Cheques and convert them thier..

OR

Euro Travellers Cheques purchased over here (UK)...

Thanks

"Hatunen" wrote in message
...
An ATM card, a PIN with four digits (not more or letters) and the
realization that travelers' checks have gone the way of the Spruce Goose now
that cashpoints are on every street corner. If you choose your card provider
wisely, you'll get decent exchange rates and no- or low-fee transactions.

And keep in mind that if ther's a two pound transaction charge on
a withdrawal of two hundred pounds, that's only 1%, which is a
lot better than most exchange rates.

I don't know about UK banks but many American banks are charging
one or two percent extra on top of the roughly 1% conversion rate
used by the internatioal ATM system, which is still better than
trying to convert cash, but it grates since the bank does nothing
to earn that added fee.

Yup. Most UK banks add an exchange rate markup of about 2.5 - 3%. Some charge a
fee on top.

Nationwide are the best, no exchange rate markup (you get a rate very close to
the interbank rate) and no fee for current account withdrawals.

Their credit card does have an ATM fee but with no exchange rate markup, so it's
better than most bank's ATM cards, and the best one for credit card spending
abroad.

--
Andy

"Hatunen" wrote in message
...
An ATM card, a PIN with four digits (not more or letters) and the
realization that travelers' checks have gone the way of the Spruce Goose now
that cashpoints are on every street corner. If you choose your card provider
wisely, you'll get decent exchange rates and no- or low-fee transactions.

And keep in mind that if ther's a two pound transaction charge on
a withdrawal of two hundred pounds, that's only 1%, which is a
lot better than most exchange rates.

I don't know about UK banks but many American banks are charging
one or two percent extra on top of the roughly 1% conversion rate
used by the internatioal ATM system, which is still better than
trying to convert cash, but it grates since the bank does nothing
to earn that added fee.

Yup. Most UK banks add an exchange rate markup of about 2.5 - 3%. Some charge a
fee on top.

Nationwide are the best, no exchange rate markup (you get a rate very close to
the interbank rate) and no fee for current account withdrawals.

Their credit card does have an ATM fee but with no exchange rate markup, so it's
better than most bank's ATM cards, and the best one for credit card spending
abroad.

--
Andy

"Miss L. Toe" wrote in message
...
Do banks usually charge a fee for withdrawing Euro's abroad?


Some do and some don't and those that don't often use a different exchange
rate so they get you anyway !

The bank will state what exchange rate markup it adds in the T&C's somewhere.
They vary greatly.

My First Direct account has a 2.75% markup to the interbank rate, and charges a
1.5% fee. My Nationwide account has a 0% exchange rate markup and a 0% fee.

--
Andy

"Miss L. Toe" wrote in message
...
Do banks usually charge a fee for withdrawing Euro's abroad?


Some do and some don't and those that don't often use a different exchange
rate so they get you anyway !

The bank will state what exchange rate markup it adds in the T&C's somewhere.
They vary greatly.

My First Direct account has a 2.75% markup to the interbank rate, and charges a
1.5% fee. My Nationwide account has a 0% exchange rate markup and a 0% fee.

--
Andy