 Poster: A snowHead
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so financial gurus shoudl i wait until next week to buy, or just us ethe pastic in europe ? I was planning to go to M&S tomorrow but might wait ?
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| Red Leon wrote: |
| rayscoops wrote: |
| ECB interest rates are a real difficult one with differeing needs of the various countries ! |
Really? Well, who could have predicted that, say, 10 years ago?? The ECB & € were a bad idea from the beginning - doomed to fail from the moment it started 
Come on, sterling!! |
Yep, one interest rates for 27 wildly differing economies. Its a wonder it has held together this long.
Thinking about it, its no wonder at all. It only stays together because all countries, from Greece to France, routinely break its rules and no action is taken against them.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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| sev112 wrote: |
| so financial gurus shoudl i wait until next week to buy, or just us ethe pastic in europe ? I was planning to go to M&S tomorrow but might wait ? |
There are fundamentals behind the movement. I'm buying tomorrow but only because I am off on Sunday. I would buy when its at 1.14 (market price). It may well get to 1.15 but that would factor in all of current expectations on interest rates.
M&S are 1.08 today. Tesco are 1.10.
* I am no financial guru and this advice is worth what you have paid for it.
** Using cash cards abroad is just about the worst deal you can get.
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You need to Login to know who's really who.
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| Quote: |
Using cash cards abroad is just about the worst deal you can get.
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unless you get a pre-paid currency card e.g. fairfx - load up at a set exchange rate which are usually more favourable than high street rates and use it as a credit card in resort (same as a maestro card so accepted almost everywhere) or to get cash at atms (charge for this but less than most credit cards charge) and you know what exchange rate you have got so no nasty surprises. I have just orderd one - just loaded £10 for now - you can top up online as and when the rates seem favourable or just before your hols, plus if you lose it they re-imburse your outstandign credit for only a small charge (as opposed to a lost wallet load of folding) - well hoping its as good as it sounds anyway 
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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lib-banana, I think if you add up the cost of loading money on, the rate at which you can buy and the cost of taking money out, it is not the 'free lunch' that it appears.
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You'll need to Register first of course.
You'll need to Register first of course.
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| Quote: |
** Using cash cards abroad is just about the worst deal you can get.
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Even using my Barclays debit card is better than changing euros in the UK. Best of all of course is a Nationwide debit card, bank rate and no charges in Europe.
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| Helen Beaumont wrote: |
| Best of all of course is a Nationwide debit card, bank rate and no charges in Europe. |
I am currently trying to resurrect a nationwide account I haven't touched for 20 years just to get the card.
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tiffin, good luck.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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bar shaker,
No I know its not the only game in town but looking at teh moneysaving expert review of all of this it comes out pretty well with some fairly practical advantages too I felt - it comes out well when compared to the best credit card deals for overseas spending and at least you know in advance what rate you are spending at! Admittedly not as good as a nationwide debit card though!
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Do you need an account that existed before 199X to get the Nationwide card? That is the exception and is a good deal.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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| bar shaker wrote: |
| Do you need an account that existed before 199X to get the Nationwide card? That is the exception and is a good deal. |
No I could open a new account 
But if possible I would like to use the old one as:
a: There was a little money in there
b: I don't have to pay my salary in or take another product as you do with new accounts
c: I think some of their other products give preferential rates to long term members.
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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bar shaker, you now need to be a Nationwide customer to apply for a Flex Account, unless you choose to use it as your main current account. I didn't have an account with them at all before I got mine, but that was a few years ago. I don't use it as my main account, just for paying for stuff on holiday. There is a regular sum goes in though. http://www.nationwide.co.uk/current_account/apply.htm gives the current criteria for acceptance. Looks like the easiest way is to open an e-savings account.
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Yup, you can get an e-saving account and just bung £1 in to qualify
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You know it makes sense.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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1.13 (88.4p)
Creeping up at the moment due to the forecast inflation fig looking to be around 2.5% for December (up from 1.9% in Nov) so market thinks there may be an extra .5% in interest rate at the next BoE shin-dig.
Remember that even though 2.5% (which is really just 2.2% when the political rubbish is taken out) is higher than BoE's 2% target. This is the 1st time the rate has gone higher than the target since last may. As the only real tool the BoE has is the interest rate they "may" put em up to halt the inflationary rise. Higher rates mean the big banks and insurance co's get more so the pound goes up in value (well not really but near enough)
As the pound is now only a small player (Euro/Dollar) at the moment the slight rise in value is really the euro going down, not the pound going up – but who cares as long as the beer is cheaper.
So if you're going skiing over HT - best wait a while to see what rate you can get on your holiday spends
And for anyone living south of Birmingham don’t worry.
Your Mini-Demi-Semi-Quasi-1 bedroom flat will soon be worth a £Billion again 
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Poster: A snowHead
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Wayne, Don't forget they have one more tranche of quantitive easing to play with as well 
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Boredsurfing,
yeah you're right
I have really brill idea to help the economy.
Print more money and devalue the currency.
Excellent
Ooops forgot that we live on an island, so we are always going to import more than we export, so printing more money will just stop the economy growing.
Our rather dim PM will be gone soon. I think even he knows it – but of course being a politician, will never admit it. 10 years of jumping up and down shouting “let me have a go, when is it my turn, I want to play” and it turns out when get finally gets his go, he cocks it up big style.
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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You need to Login to know who's really who.
You need to Login to know who's really who.
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| Wayne wrote: |
| [b]Our rather dim PM will be gone soon |
To be replaced by an equally headless chicken 
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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| Wayne wrote: |
| 1.13 (88.4p) Remember that even though 2.5% (which is really just 2.2% when the political rubbish is taken out) is higher than BoE's 2% target. This is the 1st time the rate has gone higher than the target since last may. As the only real tool the BoE has is the interest rate they "may" put em up to halt the inflationary rise. Higher rates mean the big banks and insurance co's get more so the pound goes up in value (well not really but near enough) |
Quantative easing has been adopted to stimulate the economy and as a result of this inflation naturally rises, this is the intention of the policy so I doubt there will be any attempt to hold back inflation at such a marginal level above the 'target', and a half of one percent increase in the base rate will not have much of an impact at this point in time imv. All that is likely to happen is that no more quantative easing will take place. I am not sure that a half of one percent increase in the base rate will result in any real move of investors in to Sterling either
| Wayne wrote: |
| Ooops forgot that we live on an island, so we are always going to import more than we export, so printing more money will just stop the economy growing. |
I do not think being an Island is any different to be a land locked country when it comes to what a country needs to import  we import what we need (for whatever reason) the same as every one else. It may be more expensive to import as an Island but I would have thought it is more to do with land mass and population rather than the fact we are surrounded by sea.
| Wayne wrote: |
| at the moment the slight rise in value is really the euro going down, not the pound going up – but who cares as long as the beer is cheaper |
I think you will find that Sterling has similarly been rising against the Dollar over the same period to which you refer. Euro has been falling though against the Dollar and Sterling
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You'll need to Register first of course.
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Yeah you're most likely right. What do I know. Gave up ages ago trying to find any insight into this mad situation.
GBP / USD = weekly high about 1.635 but now agv around 1.62.
It's a real pain in the ....
Have put out the prices for the ski trips for 2011 as have negotiated a deal with hotels / lift pass Co. that revolves around the EU/GBP rates.
But for the rest of the world aaaaaarrrrrrggggggghhhhhhh
Am trying to work out the selling price of our treks (Kilimanjaro, Inca Trail, Everest, Tibet, etc, etc) for 2011. All sold in UKP's but we have to pay bills in USD's.
If I don't put out the info no can book. But what price am I meant to sell at ???
Maybe should become an MP - can just steal money then say sorry after and get away with it.
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| rayscoops wrote: |
| I think you will find that Sterling has similarly been rising against the Dollar over the same period to which you refer. Euro has been falling though against the Dollar and Sterling |
Point was that GBP and USD are both moving sideways against the EU. It's the EU that messed up at the mo. But
yeah you're most likely right. What do I know. Gave up ages ago trying to find any insight into this mad situation.
GBP / USD = weekly high about 1.635 but now agv around 1.62.
It's a real pain in the ....
Have put out the prices for the ski trips for 2011 as have negotiated a deal with hotels / lift pass Co. that revolves around the EU/GBP rates.
But for the rest of the world aaaaaarrrrrrggggggghhhhhhh
Am trying to work out the selling price of our treks (Kilimanjaro, Inca Trail, Everest, Tibet, etc, etc) for 2011. All sold in UKP's but we have to pay bills in USD's.
If I don't put out the info no can book. But what price am I meant to sell at ???
Can anyone give me some insight into the exchange rate (for early 2011) of the UDD against the Peru Sol (that’s what I need to work out the internal flights from Lima) - oh yeah and I would like some help with the USD to the Indian Rupee (also the Indian Rupee to the Nepalese Rupee) as I need to take cash over to pay the porters. Shall I forward on Yuan for Tibet in a while or leave it till later.
The world has gone mad.
Maybe should become an MP - can just steal money then say sorry after and get away with it.
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Wayne, your company, your call 
edit - sell your holidays in a mixture of currencies - I am happy paying in euros/dollar etc whe I do DIY bookings/flights etc., maybe spin it as a way of offering the most competitive price. Of course you could only deal with those suppliers who will fix the exchange rate with you now
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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Sterling broken 1.14 against Euro this morning , half of one percent up against Euro and Dollar.
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| bar shaker wrote: |
** Using cash cards abroad is just about the worst deal you can get. |
No, you can get very much worse deals.
In fact every other deal out there I am aware of is worse, certainly than using my Nationwide debit card. But even most other debit cards are better than most high street currency exchange outlets, so to suggest it is "just about the worst deal you can get" is just silly.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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alex_heney, I used my Abbey debit card in Austria recently and got inter-bank rate but with a £2 ATM charge, so if one avoids lots of small withdrawls it seems - as you say - much better than paying tourist rate to change £ cash into € cash
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And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
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CPI 2.9%, RPI 2.4%
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rayscoops, Base rate will go up February or March?
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You know it makes sense.
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I was intrigued yesterday to see that HSBC (my bank) would offer me "commission free" money at 1.06. The Post Office 1.09. One or two exchange places in the West End referred to on moneysavingsexpert would manage 1.12.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Boredsurfing, a possibility but not a probability. If it goes a bit higher then BoE has to issue their letter explaining things, which will be VAT reduced, oil prices doubled over the year, low Sterling value increasing import costs etc., which is all out of control of BoE really. Exports need year or so of low Sterling for the export deals to start working through the system, which is about now.
Interestingly Sterling surged 1/4 percent on the announcement and FTSE fell sharply - makes my spread bets look a bit sickly 
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Poster: A snowHead
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I use an Abbey Zero creidt card, used to have nationwide's: as per nationwide, no fees for use abroad, but with the Abbey card that includes cash withdrawals..
I might not get the best rates but the it's so convenient it's just makes everything else seems pointless..
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
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| Quote: |
Unemployment falls
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That'll be the ones transfered to benefits rather than jobseekers allowance.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Got my Nationwide Flex set up last year without it being my main current account - it was easy to do online and is used solely for Euro travel. Commission free deals always seem to offer rubbish rates so you don't win with them. I don't get charged anything for purchases or cash out of a machine:
| Quote: |
If you carry out a transaction using your card in a currency other than sterling, it will be converted to sterling on the day the transaction is processed by our card scheme providers at a wholesale rate of exchange, which may vary daily. For an indication of that exchange rate, you can see the Visa wholesale rate of exchange at www.visaeurope.com/fxcalculator. This is an "indication" because transactions are processed when the retailer passes them on to the scheme provider, which is generally not on the same day the transaction took place.
Third party charges: Nationwide continues to offer "commission-free" foreign transactions. "Commission-free" means that we do not add any additional charges for exchanging currency which are designed to generate profit for the Society. We do, however, pass on any fee we incur from our card scheme providers for processing transactions in certain currencies (generally those outside of the European Economic Area and Turkey and Israel) other than sterling.
The fee is currently 1.00% and it will be included in the sterling amount shown on your statement.
From FAQ
- Will I be charged the fee for withdrawing cash from a cash machine?
Select the country you are visiting from the list below, if it is listed as "no fee charged" you will not be charged. Otherwise you will be charged the fee. Please remember if you use your credit card to withdraw cash you will be charged a cash advance fee. |
The rate on the visaeurope site is currently about 1.14.
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You'll need to Register first of course.
You'll need to Register first of course.
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We just bought euros at Thomas Cook today @ 1.10 which we thought was quite good for a "walk-in" high street shop. I know on-line rates are better, but then delivery charges for small amounts cancels this out. My RBS bank offered 1.08 !
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sharon1953,
i got 1.10 at M&S today - best for a few years
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Best rates we had for online purchase were for collection at the airport/eurotunnel with TRavelex. You don't get the same rate if you walk up to the counter though. I just use a Nationwide Debit card now. We always have enough left over to get us across the channel.
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You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
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| Helen Beaumont wrote: |
| Best rates we had for online purchase were for collection at the airport/eurotunnel with TRavelex. |
And you can get BA Miles (hopefully, there'll still be a BA to redeem them with).
https://www.travelex.co.uk/ba/moneynet.asp
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FAQ
