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Forgive me if this is a stupid question but how is a cash loaded card better than just withdrawing money of my account through an ATM?? Is it the exchange rate that makes it a better option or???
But then likewise, if the original dollar should sky-rocket you lose out on the extra .....Hi, not a stupid question at all. The exchange rate fluctuates severely for some countries. Once I have the euros on my pre-loaded cash card, I know I have X euros to spend. If I relied on my ATM card, and the exchange rate plummets, my Rands may last for only half the trip
I'm considering getting one of these cards. If it is lost or stolen then I am only out the amount on the card. There is no chance that a dishonest person can drain my checking account or run up charges on a credit card.Forgive me if this is a stupid question but how is a cash loaded card better than just withdrawing money of my account through an ATM?? Is it the exchange rate that makes it a better option or???
My bank guarantees against this type of fraud.There is no chance that a dishonest person can drain my checking account or run up charges on a credit card.
But don't you need an ATM anyway, to get the cash?they would have to have a significant value on them for it to be of benefit (so I don't have to access ATMs)
I understand that. I mean to use my credit card just to get cash from the ATM, instead of using a bank debit cards. I'll prepay it to avoid the interest normally charged immediately on cash withdrawals on a credit card.Cash is king on the camino. We find that the credit card is only useful in larger towns or cities. Even then small businesses take credit cards with reluctance.
But then likewise, if the original dollar should sky-rocket you lose out on the extra .....
This year we found that the ATMs had a €300 withdrawal limit, with a €1.50 charge per withdrawal. One bank allowed a much larger withdrawal. I could never remember which it was. As I'm going back in September I'd love to use the same bank again. Does anyone know?
Ive been using Santander (the red and white bank) and have taken up to 300€ out using my Aussie cash card many times. Its the only bank ive found so far that i dont get a withdrawal fee (i use the option 'withdraw without conversion' - as the money is alreay in euros). I got a deal with my cash card that i dont have a withdrawal fee in Europe either. (Ive been in South of Spain for 5 months now without issues using my cash card.)Cash is king on the camino. We find that the credit card is only useful in larger towns or cities. Even then small businesses take credit cards with reluctance.
This year we found that the ATMs had a €300 withdrawal limit, with a €1.50 charge per withdrawal. One bank allowed a much larger withdrawal. I could never remember which it was. As I'm going back in September I'd love to use the same bank again. Does anyone know?
The Thomson Mastercard comes with a 'spare' card which can be activated if the first card is lost. We also carry our credit card in case of need (eg for accomodation in a hotel) We try never to use the card in a bank which is closed and also to use an internal ATM not an external 'hole-in-the-wall'.If a pre-loaded cash card is lost, forgotten, stolen, broken or cracked, swallowed by the ATM on a Friday or a long weekend-its gone! Two credit cards from two different companies say Visa and Mastercard carried in two separate places solve this for me and your money remains accessable..
I am going to check with my bank on Monday. It may be worthwhile to set up a special account for this trip if it will decrease the fees that I pay. Either way the bank is going to get its share ..... one way or another !!I don't know if this is the situation with all atm cards, but mine charges a withdrawal fee (a percentage of the transaction) for the facility of using the card outside the uk.
Oh yes and there's no fee to get one...For what it's worth I've just ordered a FAIRFX Mastercard. It was recommended on the Martin Lewis Moneysaving website. It charges €1.50 per ATM withdrawal; has a decent exchange rate when you load it; gives you an extra £8 if you load £500 or more and, if you haven't used all the money when you get home, you can use it in the UK to spend what's left on it.
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