 Poster: A snowHead
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Just been looking for airbnbs for January, asking prices are up quite a bit on last year. Seems like property owners have got the inflation message. Of course price hikes will hit the French, Italians etc worse with their lower disposable incomes compared to the Brits.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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£ = $1.20 & €1.16
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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The old winter question. At what point do we pull the trigger on converting currency?
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You need to Login to know who's really who.
You need to Login to know who's really who.
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| brianatab wrote: |
| The old winter question. At what point do we pull the trigger on converting currency? |
No idea. But using something like Halifax Clarity, or other FX card, will put you 3% ahead. Which is probably all you'll get by timing it right.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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| brianatab wrote: |
| The old winter question. At what point do we pull the trigger on converting currency? |
Why would you want to or need to convert ahead of time?
I haven't converted currency for years. Pretty much had the same Euro's in my purse for a decade.
Just use Halifax Clarity CC for pretty much everything.
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You'll need to Register first of course.
You'll need to Register first of course.
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@Layne said
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use Halifax Clarity CC for pretty much everything.
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I've been using "Clarity" for many years which has no charges etc, but infact still uses the Mastercard exchange rate,
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| You won't be charged any foreign transaction fees. Any money spent abroad will be set by the Mastercard exchange rate on that day. |
I'm now using Revolut which gives you the the actual interbank FX rate, so a slightly better rate. This can be significant for large items like hotel bills & lift passes 
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| geoffers wrote: |
@Layne said
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use Halifax Clarity CC for pretty much everything.
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I've been using "Clarity" for many years which has no charges etc, but infact still uses the Mastercard exchange rate,
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| You won't be charged any foreign transaction fees. Any money spent abroad will be set by the Mastercard exchange rate on that day. |
I'm now using Revolut which gives you the the actual interbank FX rate, so a slightly better rate. This can be significant for large items like hotel bills & lift passes |
The new chase account does the same & online banking Monzo.
Worth having a few accounts because they all have different limits.
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I was thinking more along the lines of where the exchange rate was going in the next couple of months.
I've got Revolut, which works ok, so it's just a case of guessing the best time to convert. However, I got stung last year when I took some cash out, so won't be doing that again. (the charges more than wiped out the rate gain).
I always prefer to have a fair amount of Euros in cash with me, so will be looking for the best time to get some.
I'll take a look at clarity and Monzo.
Barclays have just brought in a charge of £1.50 for UK transactions in Euros, so won't be using that account to pay for transfers etc again.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Are we at parity yet Nigel?
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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@brianatab, I already have a clarity MasterCard which I have used on many trips abroad. Barclays are doing a reward credit card that is slightly better and it's also VISA which helps diversify. I also have a platinum reward debit card with NatWest with no charges. Once I almost learnt the hard way that it's a good idea when I was driving from Nice to Paris on a Sunday and the autoroute services were all out of fuel and had to pull off into a village. I only had a Maestro or MasterCard on me no VISA and the self service pump only accepted VISA. We sat in the garage for about 15 min wondering what to do when a Frenchman turned up and insisted on filling our tank and refused to swap details so I could refund him.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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Use revolut and pay for a metal card. £12.99 a month. Can withdraw cash commission free, have VIP help if needed online, includes wintersports insurance, includes equipment insurance and the FX rate is the interbank rate. Also get discount on airport lounges and 20% off hotels if you need one the night before a flight etc. You get cashback too.
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You know it makes sense.
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@Macker13,
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Use revolut ...., includes wintersports insurance
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Was using Revolut premium for the insurance perks, but have just downgraded back to the basic "Standard" after reading the insurance small print -some of the limits make it pretty much worthless (height limits on hiking, cycling etc mean it's no use in the Alps etc etc  )
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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| geoffers wrote: |
@Macker13,
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Use revolut ...., includes wintersports insurance
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Was using Revolut premium for the insurance perks, but have just downgraded back to the basic "Standard" after reading the insurance small print -some of the limits make it pretty much worthless (height limits on hiking, cycling etc mean it's no use in the Alps etc etc ) |
as long as you are on piste you are covered.I checked with them
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Poster: A snowHead
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@Macker13,
Absolutely no point in paying £13 a month for an account unless you are using it on a very regular basis, or large sums.
I only use my Revolut on holidays to pay for occasional meals and transfers etc, so more for convenience that anything else.
I prefer cash for small transactions.*
I took out 2x 250 Euros last year. One for pocket money, the other to pay Admin for my lift pass. Got stung for charges on the second one that took 2 points off the exchange rate I got. Might as well have exchanged cash at the Post office before I left.
*There is a good reason for not using card for lots of small transactions. Many retailers pay a fixed fee, plus commission. On small transactions, the fee can seriously diminish the profit margin, damaging the business, or forcing price increases.
However, all small businesses feel obliged to accept such small payments, because that's what the younger generation have been persuaded to do. The banks reap the profits.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| Macker13 wrote: |
| geoffers wrote: |
@Macker13,
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Use revolut ...., includes wintersports insurance
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Was using Revolut premium for the insurance perks, but have just downgraded back to the basic "Standard" after reading the insurance small print -some of the limits make it pretty much worthless (height limits on hiking, cycling etc mean it's no use in the Alps etc etc ) |
as long as you are on piste you are covered.I checked with them |
I have other off-piste insurance, so was more concerned about the stringent limits imposed on other aspects of the insurance - much better deals elsewhere
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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| brianatab wrote: |
@Macker13,
Absolutely no point in paying £13 a month for an account unless you are using it on a very regular basis, or large sums.
I only use my Revolut on holidays to pay for occasional meals and transfers etc, so more for convenience that anything else.
I prefer cash for small transactions.*
I took out 2x 250 Euros last year. One for pocket money, the other to pay Admin for my lift pass. Got stung for charges on the second one that took 2 points off the exchange rate I got. Might as well have exchanged cash at the Post office before I left.
*There is a good reason for not using card for lots of small transactions. Many retailers pay a fixed fee, plus commission. On small transactions, the fee can seriously diminish the profit margin, damaging the business, or forcing price increases.
However, all small businesses feel obliged to accept such small payments, because that's what the younger generation have been persuaded to do. The banks reap the profits. |
in your opinion.
In my opinion £13 a month is a bargain for car hire excess insurance, contents insurance, Mobile insurance, wintersports insurance, travel insurance plus the amount I travel I get 50% off lounges in airports and 20% of hotels. Plus 30% cashback in various restaurants. The travel insurance was brilliant customer service when covid cancelled a holiday of mine. I was paid back in 5 working days.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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@Macker13, I did say "unless you are using it on a very regular basis, or large sums".
You do, it works for you. I don't. To me, it's a convenience account for holidays, so it's not cost effective for me to pay for premium.
Many people in between can decide on their own circumstances.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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You'll need to Register first of course.
You'll need to Register first of course.
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@brianatab, if you bank with HSBC they have just launched an account which has killed (basic) Revolut for me. Basically the same deal as rev but without the stupid £200 per month cash limit.
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@Timmycb5, Thanks for that. Just in the process of opening a business account with them, and was going to look at current accounts when it's sorted. (waiting to save on the duplication of proving id etc...)
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@brianatab, no probs. It's called the Global Money Account. It's only available on the app and only to those who also have an HSBC current account, so if you're opening a current account anyway, this could be a useful addition.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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@Timmycb5, how do you mean, no fx fee if we buy something in eur on the card? Do you know the name of the account type?
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I use Halifax Clarity MasterCard credit card, Barclays reward VISA credit card and NatWest platinum reward current account debit card. All give fee free interbank rates on transactions and withdrawals.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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@noodlehat, you can transfer between currencies at the exact same rate as revolut, and can hold up to (IIRC) 20 currencies concurrently and it will charge to the appropriate holding depending on where you use it. It's called the Global Money Account. If you don't have HSBC, then it might be more hassle than it's worth opening a current account to get access to this, but if you already have a current account, it takes about 30 seconds to set it up on the app.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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@Timmycb5, that sounds very handy for hedging against currency movements once holiday is booked. It might well be be worth the hassle to open if things continue to be as unsettled as they have been this year.
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@Timmycb5, I’ve got an HSBC French current a/c - (I’m uk based, British citizen) wondering if the Global Money Account is open to me. Thoughts?
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You know it makes sense.
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@Arctic Roll, I’m fairly sure my brother (lives in France) has access to the same account. I think he has a U.K. account though. Probably worth looking on the app to see if it’s an option to open one!
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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@Timmycb5, thanks for the info. Will look into it.
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Poster: A snowHead
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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@Glosterwolf,
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Halifax Clarity MasterCard credit card, Barclays reward VISA .... give fee free interbank rates
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Not quite correct - they have their own FX rates which aren't quite as good as the interbank, which you can get with Revolut, Monzo etc
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| In relation to your credit and debit card, when you make a payment abroad, Visa and Mastercard are a currency retailer – giving currency to the shop or restaurant abroad and charging sterling from your card account. So, Visa and Mastercard have their own retail exchange rate |
https://www.yourmoney.com/credit-cards-loans/60-second-readinterbank-exchange-rate-vs-mastercard-visa/
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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@Timmycb5, looks great, i've been super lazy last few trips abroad and didnt use my revolut so been stung for £100s in fx fees in total especially on big items like ski accommodation!
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You need to Login to know who's really who.
You need to Login to know who's really who.
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Late to this discussion but Wise (formerly Transferwise) has a fee free prepaid debit card which works really well for me. Between my Wise card, my wife’s Wise card and my Revolut we’re good for £600 a month cash withdrawals before any fees kick in, which is usually plenty!
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FAQ
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