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snuggels
960 Posts |
 Posted - 03 Aug 2009 : 23:24:08
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When other ATM,s were broken or out of cash. Not sure of the name or the location name but the one i used to use was turn left at the traffic lights at Kariba Avenue about a mile on the left was a ATM
Dont know if its still there? |
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Nokia Man
United Kingdom
44 Posts |
Posted - 04 Aug 2009 : 00:01:22
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Maestro cards are accepted equally as much as Visa because these are the card you receive if your account doesn't have a credit facility, such as your first bank account or for someone with low credit history.
Quite simply these are the easiest card to get because you don't need any positive credit history, just not BAD credit history.
ATM's across the globe are popular with Maestro cards because its banked cash.
Visa Electron is the next step up the ladder from Maestro and is when you have access to lending facilities at your bank, or in other words your credit rating is going up and the bank are accrediting you this rating by keeping your account in order.
After a period behaving yourself with Visa Electron you should be then offered a credit card and which is where it all goes wrong, when the bank blame you for having debts far beyond your means even though they set the limit beyond your means 
Pre loaded cards are well known in the UK to be the most expensive way of obtaining plastic money, period. In fact I'd rather take cash than use a pre loaded card.
I'll always use travellers Cheques because of the guarantee if you loose them or if stolen. Try and get that with cash!! I'll put up with TC's lower rates and consider the loss my insurance contribution for the service they give.
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Edited by - Nokia Man on 04 Aug 2009 00:02:58 |
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snuggels
960 Posts |
Posted - 04 Aug 2009 : 00:36:53
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Nokia Man
I think it all depends on your personal circumstances. The average person takes 2 to 4 weeks anual holiday So what ever method you choose be it Travelers Cheques or credit cards it dosnt necessarily add up to a lot of money unless you are realy cost consciouse and want to save money.
As Im retired I go away in the winter from 2 to 4 months. Many retirees go for 6 months as I have on occations and obviousely over that periode of time spend a lot of money. So its crucial to get the best deal going. So for me the way to go is the pre-loaded cash card
At the moment FairFx being the best
This is fair comment
"I'll always use travellers Cheques because of the guarantee if you loose them or if stolen. Try and get that with cash!! I'll put up with TC's lower rates and consider the loss my insurance contribution for the service they give."
"Pre loaded cards are well known in the UK to be the most expensive way of obtaining plastic money, period."
Not so
It is widely acknowledged that credit and debit cards being used at ATM,s or what ever are a rip off with thier high charges and interest rates
Prepaid cards do exactly what they say on the tin; you load cash onto one, and then it can be used in shops and restaurants just like a debit or credit card.
they’re currently only available denominated in Euros or Dollars.
Their big advantage over cash is if you lose your card, for a fee of around £10 most providers will replace it, with all the funds in tact. Lose a wallet of Dollar bills in Times Square and it's gone for good.
Prepaid cards have a variety of different charges, but the two top cards keep these to a minimum.
The Best Card. FairFX.
The FairFX* prepaid card, which must be applied for online, charges no spending or foreign 'loading' fee, and can be topped up for free by debit card or bank transfer. The only cost is €1.50/$2 to withdraw cash from an ATM, for what ever amount upto the amount loaded
which is less than most credit or debit cards. You get FairFx's own exchange rate, which changes daily but generally beats all the other prepaid cards, and the best exchange rates
Next best is Caxton FX*, again available online, which also has no
spending or foreign load fees and can be topped up online or over the phone for free by debit card. You get Caxton’s exchange rate, though this is usually worse than FairFX's. There's no ATM withdrawal charge.
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Edited by - snuggels on 04 Aug 2009 01:56:50 |
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toubab1020
12314 Posts |
Posted - 04 Aug 2009 : 10:39:12
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There simply is no contest as Nokia man says,
"I'll always use travellers Cheques because of the guarantee if you loose them or if stolen. Try and get that with cash!! I'll put up with TC's lower rates and consider the loss my insurance contribution for the service they give."
Snuggles points out that other cards are available,it maybe you prefer to use one of those, in The Gambia though only VISA is any use or pocket loads of cash which is not a wise thing to carry anywhere.
It is quite surprising I think for a country that wants to become part of the "financial world" The Gambia has so few "financial products" available from the many banks there,I suppose the answer is that the Central Bank of The Gambia has limited amounts of Hard Currencies availabe to it,I would find it interesting if reserve figures of hard curriencies held by The Central Bank were available.
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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snuggels
960 Posts |
Posted - 04 Aug 2009 : 11:01:36
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| Yep I agree for Gambia you aint got much choice it has to be travelers cheuques or its rip of credit/debit cards. So in that instance it has to be the former. As Lamby pointed out it appears you cant use preloaded cash cards in Gambia. Which are the best for a good rate of exchamge in most other countries |
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snuggels
960 Posts |
Posted - 04 Aug 2009 : 11:32:32
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As I only got the FX card this year as im going away for a long time to variouse countries and spending a lot of money for me the cash card is the way to go.
But for Gambia there is another way. I gave up taking Travelers Chuques a long time ago as I had mine stolen from my room and was destitute untill I got replacements which took quite a time. To be honest then I used my visa card to get by.
So at that time I opened a bank account and when I go to Gambia for the winter I take cash and on arrival put it into my account and get the full international exchange rate on the day
The reason being is at that time I was told by Western Union you can not send money to your self abroad |
Edited by - snuggels on 04 Aug 2009 11:51:06 |
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lamby
United Kingdom
16 Posts |
Posted - 04 Aug 2009 : 14:31:52
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| hi,all,re-fx cards,i found a solution when in Gambia,i,ll take a trip to Senegal,they take mastercards!!i can re- fuel there.They seem to be more helpfull than the Gambian banks to the needs of travellers. |
bss. |
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toubab1020
12314 Posts |
Posted - 04 Aug 2009 : 15:05:25
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quote:
Originally posted by lamby
hi,all,re-fx cards,i found a solution when in Gambia,i,ll take a trip to Senegal,they take mastercards!!i can re- fuel there.They seem to be more helpfull than the Gambian banks to the needs of travellers.
As you say Lamby in your last sentence.Anywhere is more helpful than a Gambian Bank,the counterstaff seem to be unable or unwilling to make any decision without passing it right up the chain of command ! the customer appears to be an unfortunate irritant to their day at work in Gambia. |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Nokia Man
United Kingdom
44 Posts |
Posted - 07 Aug 2009 : 00:14:33
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Originally posted by toubab1020the customer appears to be an unfortunate irritant to their day at work in Gambia.
If ever there was a truer word spoken eh? Well said!
Snuggels I can see where you're coming from with the pre paid card but that charge every time you use the card you'd need to take into consideration every time you use it. Like I say I can see where you're coming from so I'm not attempting to rub you up the wrong way, but as far as I'm aware I've never ever been charged for cashing a travellers cheque anywhere in the world, the commission is always at the point of purchase and where the exchange of cash for the service takes place. Sure I've seen many people give different rates of exchange for either cash, cards or TCs but when they want your business you can always get cash rates.
With this said and considering I've already paid my commission/guarantee with TCs I make sure to get them all in small denominations. This way I cash the TCs according to what I forecast the days expenses to be but as ever no day is the same as the next. Because of this if I used a pre-pay I'd either end up withdrawing more cash than I can forecast to avoid the withdrawal commission of a second draw and end up with excess cash available at the end of that period. Or maybe I'd unexpectedly spot something I wanted out of my pocket that would incur a charge by going to draw the cash?
I understand that if going for 4-6 months and not on a tourist stint forecasting ones outgoings can be more closely moderated, but for the sake of a tourists dilemma reading this it should be said that the very nature of a Gambian holiday having more than a few surprises they really ought to look at being able to access their funds at a fluctuating rate throughout their short stay and at the minimum commission but maximum security they can obtain.
Also I know travellers cheques can take a few days to replace but on the two times I've had them stolen (airport luggage handlers non Gambia) the TC company spoken to my hotel and we were granted a cash advance both times until the cheques arrived. Maybe looking into what you would get with loosing a pre paid card would be wise?
I still can't get a picture out of my head regarding Gambian bank staff. The smiling coast must seem many miles away to them |
Edited by - Nokia Man on 07 Aug 2009 00:18:05 |
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toubab1020
12314 Posts |
Posted - 07 Aug 2009 : 01:13:08
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quote:
Originally posted by Nokia Man
quote:
Originally posted by toubab1020the customer appears to be an unfortunate irritant to their day at work in Gambia.
If ever there was a truer word spoken eh? Well said!
I make sure to get them all in small denominations. This way I cash the TCs according to what I forecast the days expenses to be but as ever no day is the same as the next.
Going on from this have you noticed that the people who issue TCs are reluctant to give you small denomination ones at one time you could get £10 TCs now the minimium is £20 and unless you specifically ask for £20 TCs you get £50 or worse £100,on several occasions, I have been told "I am very sorry but we dont have any more £20s" which I find hard to believe,presumably the larger TCs are a way of getting you to give the TC issuer more money,any comments on that one?
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Nokia Man
United Kingdom
44 Posts |
Posted - 07 Aug 2009 : 02:16:30
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quote:
Originally posted by toubab1020 ..at one time you could get £10 TCs now the minimium is £20 and unless you specifically ask for £20 TCs you get £50 or worse £100,on several occasions, I have been told "I am very sorry but we dont have any more £20s" which I find hard to believe,presumably the larger TCs are a way of getting you to give the TC issuer more money,any comments on that one?
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