Getting cash out abroad

[bec1973]

I'm about to go on a round the world trip but need to know whats the best way to go about getting my money out while abroad. I'll take enough in cash/travellers cheques to cover the first bit of time but obviously can't take the whole lot, my bank is charging 4% everytime i draw cash out....is there a better way, better bank???   thanks muchly

[bouffant]

I'm also off round the world and found that Nationwide does the best deal. They don't charge you anything to withdraw money from ATM's. However, when I signed up they said I wouldn't get my visa debit card (the one you need to take cash out abroad) until the account had been active for 3 months. This may be because I didn't transfer all my salary and direct debits and stuff to them as i wanted to keep my lloyds account but i'm not sure.

Suppose it depends how long you've got before you're off, I've only got 4 weeks so i'm stuck!

[BenDToy]

I agree with bouffant. I have a NW Visa card which I keep for using abroad only. They don't charge a foreign currency transaction, and you end up with a much better exchange rate than cash or cheques. (As with all credit cards but without the tx charge). They have a small cash advance charge for ATMs and lifting cash.(not sure how much, but less than most). I even use it to lift cash at banks and currency exchanges. I recommend you have more than one card with you, and also let them know you are travelling, otherwise one of them may block your card as a "security measure" based on "unusual spending patterns"!

[bec1973]

thanks for the info. i've only got a few weeks to go too.

 

[ian.miller]

4% sounds high, is it a debit or credit card?

When i travelled my 3 accounts all charged �2.50 or 2.5% whichever was higher. But considering the spread in exchange rates when buying currency, it still worked out cheaper than cheques or cash as long as I took out at least �100 equivalent at the same time.