Exchanging money

[summerlovin12]

Hi travelling to Spain and going self catering so will be eating out a lot etc. My bank charges 2.75% to withdraw or use card for purchases abroad. However the exchange rate looks better in Spain for pound that in UK. What works out better value, exchange more beforehand or use card more abroad? Thanks

i Haven’t exchanged money for years it’s a terrible idea

get a card like revolut or Monzo and take cash out of the atm in Spain. Or just pay with card

I didn’t use cash once in Spain on holidays in may everywhere accepted card.

You may need some cash for tipping. The local cafes and bars on our holiday in Spain can't or don't accept tips on card.

Monzo, I can invite you if you need a link.

I just opened a Monzo account for exam this reason! Used it for last 2 weeks in Greece, everywhere takes card payments. The card appears in your apple wallet immediately so you don't even need to wait for the real card to arrive (although mine only took 1 day).

Don't exchange! Get a prepaid currency card and maybe also a credit card without fx charges.ie Halifax Clarity or I think the Post Office does one...?

I use my Revolut card in France and Turkey, it's brilliant.

We have starling accounts, then it's free to withdraw. Really easy to set up quickly online.

Monzo. I've just come back from Spain and didn't use any cash at all. I haven't exchanged cash for holidays for years.

Happy to be corrected but I think I saw that prepaid cards were not accepted on planes - so make sure to have another debit/cc with you.

Thanks everyone, just had a look at the Monzo account. Do you have to put £500 per month in to get the best rate or min £500 the 35 days before you us it (ie just before you go holiday) to get the 0% charge rate?

Halifax Clarity or Barclaycard Rewards credit cards. No fees on overseas spending.

I have a Halifax clarity card for shops and starling current account for cash withdrawals. Both will use interbank rates and no overseas charges. You just need to look for credit and debit cards with no overseas transaction fees. I now use starling as my main current account because I much prefer it to my normal bank. (Still get my salary pays to my main bank as I can’t be bothered with switching that. But set up a standing order to transfer money each month).