| Author |
 Topic  |
|
snuggels
960 Posts |
 Posted - 01 Aug 2009 : 23:25:39
|
Even in to day’s market with the credit crunch and with the bank rate at a historical low of 0.5% here in the UK the banks are still ripping us of. On your credit card you can be charged any where up to 35% for amounts outstanding. So it pays to shop around for the best credit card even more so when traveling aboard traditionally you would take the currency of the country you were going to plus travelers cheuques. And yes your credit cards. But this is not neccessaly the best way to go.
1/ Not good to have lots of cash on you
2/ You don’t get a good exchange rate on Travelers cheuques
3/ Use your credit card at a ATM
a/ You get charged by the ATM provider
b/ You don’t get a good exchange rate from your bank
c/ You get charged a for using the card at an ATM also high interest rate by your bank for the money drawn, In some cases all this can add up to £10 for every £100 with drawn from an ATM. abroad
So what to do? Just take enough cash to get you by. There are cards on the market that do not charge for using an ATM a couple of which are Nationwide, Abbey Zero However the exchange rates are still not that good. There are others like the Post office where you load up the card with money before you go but again whilst the exchange rate is better than some it’s still not the best. The best card I have found and use is FairFx.com pre-loaded card. The exchange rate you get is better than all the other cards I have found to date. You load the card in sterling and by Dollars or Euros they have 2 types of cards for this. I have both as when I go away in the winter months I go to various countries.
The reason for having both cards is as has happened in the past with me is you lose your wallet or things are stolen. Keeping one card in a secure place I can then transfer money from one to the other
Yes if you lose travelers cheuques you will get replacements but your bank will not send you money or the credit card companies will not send replacements abroad.
Hope this is of help and interest
|
|
|
toubab1020
12314 Posts |
Posted - 02 Aug 2009 : 18:56:52
|
| Agreed Snuggles BUT dont forget that in The Gambia only ONE card is even recognised at most places that is VISA and at the ATMS I have tried they were either "broken" or suffered other problems travellers cheques are inconvienent and dont get offered good rates but if they are stolen then they are replaces, cash? NO Credit cards, nightmare replacing and waiting to see if they have been used,so on the whole I prefer travellers cheques. |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
|
 |
|
|
snuggels
960 Posts |
Posted - 02 Aug 2009 : 19:56:59
|
And yes you are right in Gambia I myself have experienced broken ATM.s Its inconvenient but when this has happend i have useally found another that works and usuing your visa card at an ATM you pay through the nose for it and useing travelers chueques as you say the rate you get is not the best rate of exchange.
With the FairFx cards I use very good rate of exchange and they do not charge me for useing an ATM
At the end of the day Its horses for corses you pays your money and takes your choice |
Edited by - snuggels on 02 Aug 2009 19:58:53 |
|
|
|
toubab1020
12314 Posts |
Posted - 02 Aug 2009 : 21:24:41
|
| FairFx cards, tell me about them can they be used to get money from a Gambian ATM ? |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
|
|
|
|
snuggels
960 Posts |
Posted - 02 Aug 2009 : 21:52:35
|
| Yes. You can find all the info on fairfx.com |
Edited by - snuggels on 02 Aug 2009 21:55:17 |
|
|
|
lamby
United Kingdom
16 Posts |
Posted - 02 Aug 2009 : 22:15:45
|
| hi,snuggels,re-FairFx cards,i tried two banks in gambia,one at the Shell,traffic lights,& one at the Strip,both would,nt accept theFx cards.as Touboub says,only VISA,-NATWIDE,BUT any Visa card, but not Mastercard that,s what Fx is,so the FX OFFICE told me.if you can confirm any Gambia bank that accepts FX, i would be grateful,because they are best deal for foreign exchange. |
bss. |
|
|
|
toubab1020
12314 Posts |
Posted - 02 Aug 2009 : 22:49:44
|
Pleased you joined is as that's what I thought, what about it Snuggles,over to you  |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
|
|
|
|
snuggels
960 Posts |
Posted - 03 Aug 2009 : 02:05:34
|
Thats interesting.In the past I have used both Visa and Maestro in Gambia. I have spent many english winters in Gambia but last year spent 2 months in Asia then 2 months in Gambia but not this year.
I only joined FairFX this year on a recommendation of the website moneysupermarket.com as the card had the best exchange rates.
The other reason was that this year im going to variouse countries this winter from America Asia and Australia and places inbetween so having the FairFx card would save the hassle of having to change money in to lots of different currencies and just use the card at point of destination
At the time of joining Fairfx I was told the card was valid through out the world. So I will contact them and ask the question Why its not valid in Gambia and if so what other countries is it not valid in. You have got me worried now!! So thanks for the input Lamby. I,ll check it out |
Edited by - snuggels on 03 Aug 2009 02:28:51 |
|
|
|
turk
USA
3356 Posts |
Posted - 03 Aug 2009 : 05:54:04
|
| Travelex Cash Visa Card works in Gambia. |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
|
|
|
toubab1020
12314 Posts |
Posted - 03 Aug 2009 : 11:44:01
|
quote:
Originally posted by turk
Travelex Cash Visa Card works in Gambia.
Thanks for that it appears that only VISA cards work,are Travelex rates better than other Visa cards for cash at ATMS ? |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
|
|
|
|
snuggels
960 Posts |
Posted - 03 Aug 2009 : 12:32:32
|
Anyone found other cards that dont work?
The other cards I previousely mentioned where you dont get ripped of at an the ATM was Nationwide and Abbey Zero also the Post Office pre loaded card anyone used these at all? |
Edited by - snuggels on 03 Aug 2009 12:44:44 |
|
|
|
snuggels
960 Posts |
Posted - 03 Aug 2009 : 17:13:42
|
I have now had feed back from FX
If you click on the link below it lists all the countries
that you can use the card and Gambia is not listed.
Thanks for the input Lamby So theres a lesson learnt.
I also looked at Travelex and again Gambia is not listed. But as its a Visa card as against Mastercard I assume its ok.
How does Travelex cash card compair against other Cash cards as previoly mentioned
"Currently, we only offer Euro or USD Currency Cards. But the FairFX
Currency Cards are MasterCard® Prepaid Cards.
The FairFX MasterCard® Prepaid Card can be used wherever there is a
MasterCard® acceptance mark, including shops, restaurants, online or on the telephone. Your PIN will allow you access to ATM's, Chip & PIN
retailers and you can also use your MasterCard® Prepaid Card overseas.See this link for ATM locations;"http://www.mastercard.com/us/personal/en/cardholderservices/atmlocations/index.html
|
Edited by - snuggels on 03 Aug 2009 17:49:30 |
|
|
|
Momodou
Denmark
11828 Posts |
Posted - 03 Aug 2009 : 19:08:55
|
I tried to use MasterCard a few days ago at SCB (westfield junction) but the card was not recognised. The exchange rate of the maximum amount of D4000,00 per day withdrawn with visa card was competitive but the fee was about D145,00 each time. A real rip off. |
A clear conscience fears no accusation - proverb from Sierra Leone |
|
|
|
toubab1020
12314 Posts |
Posted - 03 Aug 2009 : 19:33:58
|
| Visa works then Momodou by SCB I take it you mean Stanbdard Charted Bank,There are LOTS of banks (?) in The Gambia now,how many do you think actually give money from VISA I think its only SCB ? or do some of the others give out cash on a card? |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
|
|
|
|
Momodou
Denmark
11828 Posts |
Posted - 03 Aug 2009 : 19:36:08
|
quote:
Originally posted by toubab1020
Visa works then Momodou by SCB I take it you mean Stanbdard Charted Bank,There are LOTS of banks (?) in The Gambia now,how many do you think actually give money from VISA I think its only SCB ? or do some of the others give out cash on a card?
Yes, Standard Chartered Bank. I don't know how many banks have ATMs accepting VISA but Trust Bank does too.
I have seen bill boards advertising VISA (I think by a bank called ACCESS). |
A clear conscience fears no accusation - proverb from Sierra Leone |
|
|
|
lamby
United Kingdom
16 Posts |
Posted - 03 Aug 2009 : 20:45:41
|
| very interesting re- gambian banks ATM,s visa cards seem to be KING in gambia,no luck regarding mastercard,which is a pity. has anyone got information about another bank which has opened ATM,s in gambia,one in the airport,and another one just before westfield,and one in the strip,i think it,s called EURO bank,i believe the nigerian banks have interests in the said bank. |
bss. |
|
|
|
Topic |
|
Topic Locked
