 Poster: A snowHead
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Better still...move to Ireland and don't worry about exchange rates.
Hold on....move to France/Italy etc...they've snow.
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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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thefatcontroller;
My understanding is that using plastic instead of cash, ALL cards give the same 'spot' interbank rate, which is as I stated earlier more than any cash exchange at a bank or PO but, the advantage of the post office & nationwide cards is that there is no loading for using this service, unlike barclaycard et all who charge approx 2.75% commission per transaction, thus reducing the benefit( although still better than cash transaction). So if you can possibly pay with nationwide or PO plastic you are getting the best deal available for currency exchange.
Mitch
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You need to Login to know who's really who.
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Which is why I received 1.359 and Spiky received 1.348, only a seemingly small difference but could amount to a more significant sum if you go abroad three or four times per year, and spend a significant sum of money (which you tend to if you take two adult children with you  )
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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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You'll need to Register first of course.
You'll need to Register first of course.
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alex_heney, I don't think we are convincing the fatcontroller of the benefits are we? . His loss..............
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Nationwide debit card used in a cashpoint abroad beats Post Office walk-in rate every time. I think it's a bit of a loss-leader for them to attract new customers, long may it last! They don't make any transaction/commission charges nor, just as importantly, is there any loading on the rate used. They use the Visa wholesale rate, whereas most banks add a 2.75% loading as well as a transaction fee (see www.moneysavingexpert.com Travel/Spending Overseas section for more details). You are of course at the mercy of market rate fluctuations, but if you could predict these you would be making millions as a Forex trader and not worrying about a couple of quid here and there.
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OK, just to try once more. johnboy saod above he exchanged some pounds for euros in November, at a rate of 1.36. I assume this was to attend the PSB . I used my Nationwide card in France during the PSB. The exchange rate for all transactions was between 1.428 and 1.440
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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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Its simple; if you buy euros ( or any currency) at a bank/PO whatever, you get tourist exchange rate; if you pay with plastic in the country you are visiting, you get interbank excahange rate ( which is better than tourist rate); if you use plastic in the form of Nationwide/PO you get interbank rate with no commission; its a 'no brainer' 
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the euro is becoming a second global reserve currency .. lots of countries with huge dollar surplus's (far east, middle east) are moving some of those into the euro and gold.. the dollar is still king at the moment but recent wobbles there have encouraged the markets to front run this process a bit.. stg with its historical and trade ties to the states will always be caught between the euro and dollar moves .. recent intrest rate cut expectations here have helped us follow the dollar down.. exchange rate trends often go on for far longer and far further than anyone expects.. this time next year we could all be wishing we had bought loads of euros at 1.30 as it goes below 1.00 !
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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Sorry for repeats above, you all posted while I was typing, but there is a consensus building here!
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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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| Mitchell wrote: |
| Its simple; if you buy euros ( or any currency) at a bank/PO whatever, you get tourist exchange rate; if you pay with plastic in the country you are visiting, you get interbank excahange rate ( which is better than tourist rate); if you use plastic in the form of Nationwide/PO you get interbank rate with no commission; its a 'no brainer' |
Precisely, get yourselves online, open a FlexAccount, and transfer your holiday money to it before you go. As the pound falls against the euro, we need every bit of extra we can. It is really simple to do, and you dont' need to operate it as your main current account.
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luigi wrote:
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you would be making millions as a Forex trader and not worrying about a couple of quid here and there.
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CANV CANVINGTON wrote:
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the euro is becoming a second global reserve currency .. lots of countries with huge dollar surplus's (far east, middle east) are moving some of those into the euro and gold.. the dollar is still king at the moment but recent wobbles there have encouraged the markets to front run this process a bit.. stg with its historical and trade ties to the states will always be caught between the euro and dollar moves .. recent intrest rate cut expectations here have helped us follow the dollar down.. exchange rate trends often go on for far longer and far further than anyone expects..
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I think we've uncovered a closet Forex trader! Any chance of borrowing a couple of million to, er, finance some, er, climate research in the Alps this winter, please?
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You know it makes sense.
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I'm wishing now that we payed more than a deposit to the guides and hotels on my 3 holidays. It was 1.48 then !!!!! That's thousands lost between us. 
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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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Helen Beaumont, I have a nationwide credit card and a flexaccount I don't use any more, but it still exists. I should put some cash into my flexaccount today, maybe? Or can I actually load the nationwide credit card? If the latter, and I use the card in an ATM, do I pay the "cash advance" premium? I have a fair number of euros in my French bank account, but not enough to last the winter! And doing it the Nationwide way, you avoid those £25 transfer fees?
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Poster: A snowHead
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pam w, I think the credit card does charge a cash advance fee, so best to load the FlexAccount I think. Use the credit card for any purchases if necessary,and debit card for cash withdrawal works out best,
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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| pam w wrote: |
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I calculate that over the course of the holiday I will have "lost" about 210
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Marcus, you appear to be planning to spend rather a lot. |
Well once you chuck in ski passes for 4, ski/boot hire, refreshments, a couple of meals out, lunchtime and incidentals the difference in the exchange rate comes in at about an extra €210 - may be a little optimistic sure, but a heftyish amount none the less.
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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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luigi, love to help, if you had asked in july your request would have been oversubscibed 6 times and you could have turned the surplus into a hedge fund.. alas in these credit crunch times you may have to hitch hike there 
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You need to Login to know who's really who.
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Another advantage of the Nationwide debit card is that small ATM withdrawals are no more costly than large ones. People often forget than the transaction fee (usually around 2-3%, and in addition to the ~2.75% Exchange Rate Transaction Fee) applied by the banks usually comes with a minimum charge of around £2. So withdrawing a small sum (say £20) could attract transaction fees of over 10%, and it's not until you get to almost £100 that the fee comes down to the quoted percentage rate.
Yet another reason why I love my nationwide flexaccount - although I am, gradually, breaking my student habit of only withdrawing £10 or £20 at a time (only taken me 10 years...  )
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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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| pam w wrote: |
I'm not an economist (and I say that with no false modesty). It always beats me that whilst our economy is supposed to be strong, and the eurozone generally hopelessly mismanaged, overblown public sectors, etc etc etc, the euro has, in the long term, grown steadily against the pound since it was launched at about 1.62 (which was the rate I paid when I bought my euros ahead to pay for our apartment  ). Good idea on Nationwide - I shall get in and put some money on my nationwide card tomorrow. |
I've only done economics to 'A' level but I would note that Gordon Brown is not an economist either, it is not even clear if he can count.
The UK miracle economy is built on a housing bubble with people spending money either on plastic or by re-mortgaging. Gordon Brown has been borrowing over this part of the economic cycle to create a boom in public sector when he should have been reducing the public debt. The UK has one of the largest amounts of personal debt in the West. 30% of the economy is based on the city so that is also vulnerable.
The UKP is about 25% overvalued compared to the Euro, it has been supported by a carry trade. This is now unraveling as GB (sorry I mean the independent, honest guv, Bank of England) is committed to rate decreases this year unlike the ECB which has vowed to support the Euro and keep a lid on inflation. The Euro is also vulnerable in the medium term though as the tiger economies of Ireland and Spain udwind (there is a full blown housing crash in both those countries at the moment) with only the German power house keeping things going. The Germans still actually make things to sell unlike the Brits "lightweight economy".
Either way options are running out for UK Plc. People should enjoy this year's ski holiday, for some it will be the last they take for a while.
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You'll need to Register first of course.
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I'm not looking for sympathizers, I'm paid in CHF.
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Silly question alert...
If I get one of these Nationwide flex account things to use in France - would the exchange rate vary according to which ATM I use (ie Airport or resort) or is it just down to market conditions generally?
Ta.
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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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davidof,
I agree.. I have always thought his reputation was built on not totaly screwing things up straight away...which was not so hard to do as he inherited a better platform that most chancellors ever and stuck to already working plans.... Genius to claim that as his own work...
But when we had a good few years of growth...and when it was time to pay back Peter...he continued to rob him so now we heading for trouble which will be a worse situation than a prudent and good chancellor could have made it.....
What a moron..!!!
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IMT, market conditions, nothing to do with which ATM you use.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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Helen Beaumont, Thought as much, cheers.
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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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| Whitegold wrote: |
Short- and medium-term forex rates are impossible to predict.
Moreover, exchange rates go up and down all the time. It is a game of swings and roundabouts. You win some, you lose some.
It is pointless fretting about it. Just enjoy your vacation. |
I tend to agree and how much are you going to wee wee up the wall?
Its e100 per 0.1 of a euro difference. So lets say you spend an average of £2000 eating and drinking.
£2000 @ 1.45 = e2900
£2000 @ 1.35 = e2700
e200. Is that really that much of a deal in the overall picture of things? Is it really worth worrying about?
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You know it makes sense.
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| professorpool wrote: |
| So lets say you spend an average of £2000 eating and drinking. |
Just going for the weekend then Prof?
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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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| davidof wrote: |
Either way options are running out for UK Plc. People should enjoy this year's ski holiday, for some it will be the last they take for a while. |
Why?
Not all of us are overcooked
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Poster: A snowHead
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Just noticed that the ferries are £30 cheaper than they were a few months ago.
So can offset a little 
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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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| professorpool wrote: |
| davidof wrote: |
Either way options are running out for UK Plc. People should enjoy this year's ski holiday, for some it will be the last they take for a while. |
Why?
Not all of us are overcooked |
True but it is always good advice to enjoy your ski holiday, don't you think. Not worry too much about exchange rates etc until you get home.
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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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I think the same people will be whinging on House Price Crash in 10 years time having ridden the current HPC to the bottom and back up again. A lot of them are exactly the kind of people who are unable to borrow from banks when house prices reach a new low.
It will be people like ProfessorPool who will make out like bandits increasing their BTL empires.
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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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| davidof wrote: |
| professorpool wrote: |
| davidof wrote: |
Either way options are running out for UK Plc. People should enjoy this year's ski holiday, for some it will be the last they take for a while. |
Why?
Not all of us are overcooked |
True but it is always good advice to enjoy your ski holiday, don't you think. Not worry too much about exchange rates etc until you get home. |
100% agree on all points.
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You'll need to Register first of course.
You'll need to Register first of course.
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| davidof wrote: |
It will be people like ProfessorPool who will make out like bandits increasing their BTL empires. |
Damn right to! Too much home ownership in this country as it is
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Should I use my Euro account to buy Swiss Francs then?
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Helen Beaumont, no, use it to buy iPhones...
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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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On Orange network in France?
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FAQ
