Using a Travelex ATM that offers multicurrency

[JonathanC]

Hello all, I need to get hold of some USD cash for exchange on some travel at end of next month.
I’m travelling via T2 and don’t have any flights before then.

If anyone has used one of these ATMs to withdraw USD / Euros cash, how do they charge your card (excluding a fee the ATM itself imposes, and what you may get charged by your card issuer depending on what type of card you’re using), does it mandate that your account be debited in Sterling, or does it give the choice to be charged for what you’re withdrawing ?

Also how good are the exchange rates, I was outside a post office a few days ago, and they were selling USD at $1.14 per £1 and quick check on xe showed the then current rate at $1.21, I’ve got no idea what sort exchange rate you get or how much you get for your money when using these specialist ATMs

I’ve got a Halifax Clarity credit card so I don’t need to worry about fees from the card issuer end when using it to withdraw foreign cash

[Froggee]

I would imaging that one of these machines will be about the most expensive way to get FX.

Just don’t do it!

If you need FX, avoid walking up anywhere at an airport.

I’d suggest starting by doing a search at the below link and seeing what the best rate offered for the amount of currency you are after is. Assuming you’re in London some of the physical currency exchanges can offer reasonably competitive rates but compare to the best online rates before exchanging!

https://travelmoney.moneysavingexpert.com/

[JonathanC]

Thanks, that’s almost certainly the best route, M&S and Tesco being the best options for me without going out of my way to collect, the other option is about £1 cheaper, but when you’ve got to go out your way, not worth bothering with

Does anyone know a points earning tactics when buying currency like this ?

Can you pay for the currency using gift cards ?

[BuildBackBetter]

If you can wait until you land, Chase offers you fee free withdrawals. Chase, Starling and Monzo get good rates on atm withdrawal or spending abroad.
I used curve (not in US) and atm withdrawals worked fine and decent rates. Much better than getting currency cash in UK.

[Lady London]

I looked at the rate on a Travelex machine once at the airport and I think they were offering something like 1.03 when the bank rate was about 1.18. Definitely only for use if you’re stranded at the airport and must pay cash you don’t have, for a taxi.

[JonathanC]

I’m going to Beirut, getting my hands on local money is best using USD cash and not using official exchange rates !

I generally use an ATM when I arrive wherever I’m going, apart from places like Lebanon and countries where using official exchange rates isn’t the best idea