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The best way to spend in any foreign currency, whether in person or via the web, etc., is to use a fee-free credit card (such as Post Office, Halifax Clarity, SAGA etc) for all transactions. Have it set up to repay in full by Direct Debit. Keep funds in your account to fund the direct debit. Full repayment will avoid interest charges on purchase transactions.
If you really need cash (for incidentals) then get it from an ATM when you arrive. Use the same card BUT note that this will accrue interest - which is mostly avoidable as follows:
- set up online access to your card and to your bank account
- after you draw cash, watch for the transaction to actually appear on your account (note - not the pre-authorisation, pending transaction; you must wait till you can see the actual amount posted)
- as soon as it does, make an in-payment from your bank account to cover it. Exactly, or the next round figure above it - whichever you prefer.
The in-payment will be applied FIRST to the cash withdrawal; therefore, interest will only accrue for maybe a couple of days, and will typically amount to a few pennies only. |
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2-12-2019 22:30:49
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