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Holiday Cash


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Old 12-01-2006, 02:03 PM   #1
Ade
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Holiday Cash

All this talk of holidays, made me wonder what monetary arrangements you make when going abroad (specifically SA)
Which of the following provides the best value for money ( )
1. Buy Rands over here
2. Take pounds and buy Rands over there
3. Buy travellers cheques
4. Use you credit card
5. Use your debit card
6. something else

Personally I never do 3. 'cos it's too expensive and if I'm daft enough to lose my cash it's my own stupid fault! so I use a mix of 1 and 4.
What about the rest of you?
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Old 12-01-2006, 03:52 PM   #2
mcamp999
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Quote:
Originally Posted by Ade
All this talk of holidays, made me wonder what monetary arrangements you make when going abroad (specifically SA)
Which of the following provides the best value for money ( )
1. Buy Rands over here
2. Take pounds and buy Rands over there
3. Buy travellers cheques
4. Use you credit card
5. Use your debit card
6. something else

Personally I never do 3. 'cos it's too expensive and if I'm daft enough to lose my cash it's my own stupid fault! so I use a mix of 1 and 4.
What about the rest of you?
Your combination of 1 and 4/5, with 4/5 being the selected option where possible depending on cash charges.
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Old 12-01-2006, 04:14 PM   #3
dudette
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We have an account over there still so we transfer money before we leave and then withdraw as and when we need it. (mostly every time we go out! )
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Old 12-01-2006, 05:02 PM   #4
Ade
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When I came over in85, I remember going into a bank and asking the rate for SA Rands, she replied (something like 4.5) and when I pulled out some travellers cheques she said, "Oh, in that case it's 3.7"
Something to do with commercial and non-commercial exchanges rates...
Do you know anything about this, MCamp, or is it no longer applicable?
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Old 12-01-2006, 06:36 PM   #5
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Quote:
Originally Posted by dudette
We have an account over there still so we transfer money before we leave and then withdraw as and when we need it. (mostly every time we go out! )

ditto, we do the same....
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Old 12-01-2006, 06:46 PM   #6
dudette
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Quote:
Originally Posted by Ade
When I came over in85, I remember going into a bank and asking the rate for SA Rands, she replied (something like 4.5) and when I pulled out some travellers cheques she said, "Oh, in that case it's 3.7"
Something to do with commercial and non-commercial exchanges rates...
Do you know anything about this, MCamp, or is it no longer applicable?
The banks have 3 rates when buying foreign exchange from you... for money coming in via tele transfers and the like; travellers cheques, drafts and foreign cheques; and notes.

Perhaps the rate she gave you was their selling rate, which is different from that as well, and is usually the highest.
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Old 12-01-2006, 06:49 PM   #7
Ade
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Quote:
Originally Posted by dudette
We have an account over there still so we transfer money before we leave and then withdraw as and when we need it. (mostly every time we go out! )
It cost me about £35 last time I made a swift transfer to SA (£18 on this side and £17 on that side)...is there a cheaper way?
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Old 12-01-2006, 09:51 PM   #8
dudette
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Last I heard, Natwest only charge £9/10 for a swift transfer ... unfortunately I don't think you'll be able to avoid the charges on the South African side ... both Standard and Absa charge. Perhaps the smaller banks charge less?
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Old 12-01-2006, 10:06 PM   #9
Joan
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Quote:
Originally Posted by Ade
It cost me about £35 last time I made a swift transfer to SA (£18 on this side and £17 on that side)...is there a cheaper way?
Has anyone ever tried http://www.easyexchange.co.uk/
They charge £8.00 per transaction, I decided too late, but if they are kosher, we will use them in future as we also have an active bank account in South Africa


Please let me know what you think about this service!
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Old 13-01-2006, 08:38 AM   #10
mcamp999
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Quote:
Originally Posted by Ade
When I came over in85, I remember going into a bank and asking the rate for SA Rands, she replied (something like 4.5) and when I pulled out some travellers cheques she said, "Oh, in that case it's 3.7"
Something to do with commercial and non-commercial exchanges rates...
Do you know anything about this, MCamp, or is it no longer applicable?
Yep Ade, that used to be the case, now the travellers cheques tend to be at th same exchange rates. The Post Office often offer the best rates.
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