Tips for America Part 2

Following on from my first post on the subject (now have the TU O2 app!) wanted to ask about money.

Upcoming trip to Vegas, best way to take money over there? Going to be setting myself a budget each day that I hope to stick too? What's the most cost effective way of doing it, most of my spending will be cash items, drinks, meals and some time at the tables. Thinking best would be to have a prepaid card to take out cash from ATMs. Also spending in shops, should I just use my UK Credit Cards, in local currency, so I earn points as well.

Previously have used traveller cheques and also ATM withdrawals using UK cards (sure that is a poor way of doing it?)

Thanks

TBH I'd forget about travellers cheques. They were popular once but much less so now. Some shops won't take them at all and if they do won't accept the higher value ones. I remember once in New York where I had to tell the assistant what to do with them in terms of signatures etc.

As you have credit cards then you can probably forget about using the prepaid cards - they still have fees for withdrawals on them. Unless you have very low credit limit of course in which case they might work for you. Again I once used one of the prepaid cards but thought 'what was the point' as I had my credit cards and could get cash with my ATM.

Ditto your debit cards will work in the ATMs - just tell your bank you'll be abroad so they expect some foreign transactions - you'll get a better conversion rate too even accounting for the bank fees. There is one bank that offers fee free foreign transactions but I can't remember which one.

[Neil]

I guess everyone is different and has their own way of managing their money.

I'm a massive fan of taking mainly cash, and I just split it over the amount of days I am there. We don't have a strict limit on what we can spend, and some days we spend more than others depending on what we are going.

When in Vegas I do have a gambling limit, only because it is really easy to get drawn in to the whole culture especially if you win a little bit.

I have a foreign currency fee free card for any main spends we will have while away.

Neil

We are going next week and have just ordered some currency as we are using a car and I do not like leaving or giving my card to any cashier, so we pay cash for that and any out of the way place. also for some tipping for meals, in the big supermarkets WAL-Mart etc and shopping malls I use my Lloyds rewards card no fees or usage costs and you get the bank exchange rate its £24 a year but the no transaction fees out way this.

Always accept credit card bills in local currency. If the merchant refuses local currency write on the receipt that you refuse to accept this charge, and dispute it when you get home. I have not heard of this happening in USA only Europe. But always pay in the local currency.

I take cash and a credit card that doesn't charge for currency conversion. It doesn't give me miles either so I tend to only use it for fuel and cash most of the time.
Dick D

[mitchja]

Another vote for avoiding those currency cards.

Whilst they are OK for spending in stores etc, virtually every ATM will charge you a fee to withdraw cash from them.

Cash and credit cards are by far the easiest is the US.

I always take some cash - normally what I think I will need for "cash items" like drinks at theme parks / car parking at parks etc. Any meals / shop purchases all go on a credit card, which I settle in full on my return. I have the Post Office Mastercard which does not impose any foreign transaction fees (& has no annual fee either).

I also take a backup credit card "just in case". Back in May, I used the PO card to settle a bill for pre-dinner drinks in Outback Steakhouse (they could not transfer the tab to the table as that would mean the barman losing out on his tip). Tried to pay for the dinner with the PO card and it came back declined. Paid with backup card. Credit to PO card fraud dept - by the time I got back to where we were staying, they had texted me to alert me to multiple attempted use of my card in the same place & asked me to reply with a text of "MINE" if I had tried to make the transaction. Replied and got a text straight back saying the card was unblocked.

So my advice would be: enough cash to cover what you think you will need in case (to avoid ATM fees). Main credit card (ideally with no foreign transaction fee) & a backup card. Also tell your card issuers where+when you will be away so they can note this on their anti-fraud systems. Cards can be stopped + replaced if lost / stolen, cash cannot.

This is my new arrangement - I got myself a Lloyds avios card (the £24 version, through topcashback it effectively made it £4), as it offers transaction free foreign spending, as well as 1.25 avios per £1 spent on the Amex (and doubled in the first 6 months). However, this doesn't provide free cash withdrawal.

Mr w and I have also recently opened a joint account with nationwide flex plus. The debit card not only offers free foreign cash withdrawal (but not spending on card), it gives other perks like worldwide mobile phone insurance, travel insurance (a comprehensive cover for the family), UK and Europe break down cover, and a few others. The account costs £10 a month, which I think is really good value but of course depending on your circumstances YMMV.