Travel Money Issues in the U.K.
Planning for a trip to England
From credit cards, cash, and ATMS to VAT refunds, travelers checks, and customs limits
Just use ATMs and banks, carefully count your change until you get used to the local cash, and stay away from gray market money changers
Credit cards (no foreign fees) links- Findabetterbank.com - Site to find credit unions and other local banks. These often have low or no foreign transaction fees on their credit cards and ATM fee–refund policies.
- Capitalone.com - Offers cards with no foreign transaction fee, and chip-and-signature enabled (making it easier to use in Europe).
- Bankofamerica.com - Offers cards with no foreign transaction fee, and chip-and-signature enabled (making it easier to use in Europe).
- Madfientist.cardratings.com - Good simple search engine to find travel-worthy cards, from no foreign fees to the ones with the best points.
Banks with low fees links- Ally.com - Online-only bank (and the one I use), with ATM feee refunds and no foreign transaction fees. Sadly, no credit cards (yet)—though you can use your MasterCard-branded bank card as a debit card.
- Usaa.com - Online-only bank open to current and former U.S. military personnel and their families; ATM fee refunds, and credit cards with only 1% foreign transaction fees.
- Schwab.com - This famous brokerage firm also offers online-only checking and savings accounts with ATM fee refunds.
- Asmarterchoice.org - Credit union–finding site. Credit unions often have low or no foreign trasnaction fees on their credit cards, ATM fee–refund policies, very few fees, and interest-bearing checking accounts. In other words: What a bank should be.
- Findabetterbank.com - Site to find credit unions and other local banks. These often have low or no foreign transaction fees on their credit cards and ATM fee–refund policies.
- Ncua.gov - All about credit unions.
- Credituniondb.com - Bare-bones credit union-finding database.
Traveler's checks links- Aaa.com - Your local AAA auto club will sell members AMEX-branded traveler's checks at no fee.
- Americanexpress.com - The most widely accepted checks. They will also sell checks to holders of most types of American Express cards at no commission.
- Thomascook.com - Britain's mighty financial and tourism operator issues MasterCard traveler's checks.
- Citi.com
Wiring money links- Xoom.com - This newer entrant the the money-transfer game is all online and is now owned by PayPal. You can send up to $2,999 at a time for instant pickup at tens of thousands of locations around the globe for just $5 (though note that cash pickup is available only in some countries; for others, you may only wire funds into an existing bank account). Limit: $2,999.00.
- Westernunion.com - The old standby of Western Union offers one benefit over MoneyGram (below): in addition to online or in person from a Western Union office, the sender can do it over the phone (800-CALL-CASH, which is 800-225-5227), allowing your newest favorite uncle to bail you out from the comfort of his own home and send the quick cash to offices in any of 190 countries. For immediate transfers, you must pay with a credit card or debit card ($12–$145 fee), or you can draw from a bank account ($5, but takes 3 days). Limit: $2,999.00 (though you can sign up for a service that lifts that ceiling—but transfers will not be instantaneous).
- Moneygram.com - Money zips over the wires to offices in 155 countries worldwide in about ten minutes, for the privilege of which the sender, standing at his local MoneyGram branch office, gets to pay a fee of $12–$145 (depending on the amount sent), or just $5 if they draw directly from a bank account and you can wait 3 days. Plus the sender gets to include for free a 10-word message that arrives along with the funds, perhaps something along the lines of "When you get home I'm gonna tear you a new..." Limit: $2,999.00.
Travel money issues links
- Cbp.gov - Everything the American traveler needs to know about what you are allowed to bring back into the U.S. and how much you can bring in tax-free.
- Travel.gc.ca - Everything the Canadian traveler needs to know about what you are allowed to bring back into Canada how much you can bring in tax-free.
- Smartraveller.gov.au - Includes links to the various agencies that control what you can and cannot bring (and how much of it) into Australia upon your return
- Customs.govt.nz - Everything the Kiwi traveler needs to know about what you are allowed to bring back in New Zealand and how much you can bring in tax-free.
Planning for a trip to England
From credit cards, cash, and ATMS to VAT refunds, travelers checks, and customs limits
Just use ATMs and banks, carefully count your change until you get used to the local cash, and stay away from gray market money changers
Credit cards (no foreign fees) links
- Findabetterbank.com - Site to find credit unions and other local banks. These often have low or no foreign transaction fees on their credit cards and ATM fee–refund policies.
- Capitalone.com - Offers cards with no foreign transaction fee, and chip-and-signature enabled (making it easier to use in Europe).
- Bankofamerica.com - Offers cards with no foreign transaction fee, and chip-and-signature enabled (making it easier to use in Europe).
- Madfientist.cardratings.com - Good simple search engine to find travel-worthy cards, from no foreign fees to the ones with the best points.
Banks with low fees links
- Ally.com - Online-only bank (and the one I use), with ATM feee refunds and no foreign transaction fees. Sadly, no credit cards (yet)—though you can use your MasterCard-branded bank card as a debit card.
- Usaa.com - Online-only bank open to current and former U.S. military personnel and their families; ATM fee refunds, and credit cards with only 1% foreign transaction fees.
- Schwab.com - This famous brokerage firm also offers online-only checking and savings accounts with ATM fee refunds.
- Asmarterchoice.org - Credit union–finding site. Credit unions often have low or no foreign trasnaction fees on their credit cards, ATM fee–refund policies, very few fees, and interest-bearing checking accounts. In other words: What a bank should be.
- Findabetterbank.com - Site to find credit unions and other local banks. These often have low or no foreign transaction fees on their credit cards and ATM fee–refund policies.
- Ncua.gov - All about credit unions.
- Credituniondb.com - Bare-bones credit union-finding database.
Traveler's checks links
- Aaa.com - Your local AAA auto club will sell members AMEX-branded traveler's checks at no fee.
- Americanexpress.com - The most widely accepted checks. They will also sell checks to holders of most types of American Express cards at no commission.
- Thomascook.com - Britain's mighty financial and tourism operator issues MasterCard traveler's checks.
- Citi.com
Wiring money links
- Xoom.com - This newer entrant the the money-transfer game is all online and is now owned by PayPal. You can send up to $2,999 at a time for instant pickup at tens of thousands of locations around the globe for just $5 (though note that cash pickup is available only in some countries; for others, you may only wire funds into an existing bank account). Limit: $2,999.00.
- Westernunion.com - The old standby of Western Union offers one benefit over MoneyGram (below): in addition to online or in person from a Western Union office, the sender can do it over the phone (800-CALL-CASH, which is 800-225-5227), allowing your newest favorite uncle to bail you out from the comfort of his own home and send the quick cash to offices in any of 190 countries. For immediate transfers, you must pay with a credit card or debit card ($12–$145 fee), or you can draw from a bank account ($5, but takes 3 days). Limit: $2,999.00 (though you can sign up for a service that lifts that ceiling—but transfers will not be instantaneous).
- Moneygram.com - Money zips over the wires to offices in 155 countries worldwide in about ten minutes, for the privilege of which the sender, standing at his local MoneyGram branch office, gets to pay a fee of $12–$145 (depending on the amount sent), or just $5 if they draw directly from a bank account and you can wait 3 days. Plus the sender gets to include for free a 10-word message that arrives along with the funds, perhaps something along the lines of "When you get home I'm gonna tear you a new..." Limit: $2,999.00.
Travel money issues links
- Cbp.gov - Everything the American traveler needs to know about what you are allowed to bring back into the U.S. and how much you can bring in tax-free.
- Travel.gc.ca - Everything the Canadian traveler needs to know about what you are allowed to bring back into Canada how much you can bring in tax-free.
- Smartraveller.gov.au - Includes links to the various agencies that control what you can and cannot bring (and how much of it) into Australia upon your return
- Customs.govt.nz - Everything the Kiwi traveler needs to know about what you are allowed to bring back in New Zealand and how much you can bring in tax-free.
