Name and address for holiday money?


B

Bernard42

Whenever I buy holiday currency with cash, (whether it's a travel agent,
Bureau de change, M&S store...etc) they ALWAYS ask for my name and address,
even if it's only 50 quid. They all claim it's the "Money Laundering
Regulations" and insist they won't use my details for junk mail etc.
I just make up a name and address, or use Gordon Brown's, but do I have to?
I can understand the need for I.D. if using a credit/debit card or changing
up large sums of cash, but not smallish amounts. Perhaps next time I'll ask
for details of the exact "regulation" and see what happens.

Bernie
 
Ad

Advertisements

A

Andy Pandy

Bernard42 said:
Whenever I buy holiday currency with cash, (whether it's a travel agent,
Bureau de change, M&S store...etc) they ALWAYS ask for my name and address,
even if it's only 50 quid. They all claim it's the "Money Laundering
Regulations" and insist they won't use my details for junk mail etc.
I just make up a name and address, or use Gordon Brown's, but do I have to?
I can understand the need for I.D. if using a credit/debit card or changing
up large sums of cash, but not smallish amounts. Perhaps next time I'll ask
for details of the exact "regulation" and see what happens.
Why bother buying holiday currency here? It's a rip-off, your giving them 5% or
more hidden in the rate. Withdraw from cashpoints abroad, much cheaper
particularly if you use Nationwide. And no pathetic UK "money laundering"
questions.
 
C

Chris Blunt

Why bother buying holiday currency here? It's a rip-off, your giving them 5% or
more hidden in the rate. Withdraw from cashpoints abroad, much cheaper
particularly if you use Nationwide. And no pathetic UK "money laundering"
questions.
Good advice there about using an ATM card, especially from Nationwide.
However, that still doesn't get around the money laundering issue
because you would have had to provide proper identification and
address details to obtain the ATM card in the first place.

Chris
 
B

Bartc

Andy Pandy said:
Why bother buying holiday currency here? It's a rip-off, your giving them
5% or
more hidden in the rate. Withdraw from cashpoints abroad, much cheaper
particularly if you use Nationwide. And no pathetic UK "money laundering"
questions.
I recently needed some US$ and some (Barbados) BDS$ from Thomsons.

Now, it happens that BDS$ is tied to the US$ at the rate of 2:1, so when
they quoted me a rate US$1.33 per £, I expected to get around BDS $2.66 to
the pound. Instead I got BDS $2.15!

And when I asked about the buying rate (change back to sterling) it was
about $3.30 -- more than 50% difference between buying and selling rates!
And I thought 15% between buying and selling Euros was bad enough...

They said it was because Barbados had an 'exotic' currency, although they
also had plenty of stock of it...

And in Barbados itself, buy/sell rates for sterling at a bank was
$2.82/$2.95, about a 4% variation. So for anyone going, just take sterling
in paper money.
 
T

Tiddy Ogg

Whenever I buy holiday currency with cash, (whether it's a travel agent,
Bureau de change, M&S store...etc) they ALWAYS ask for my name and address,
even if it's only 50 quid. They all claim it's the "Money Laundering
Regulations" and insist they won't use my details for junk mail etc.

but they could slip the details to their mate - the one with the
stripey jumper and a bag labelled Swag in the knowledge that you'll be
away from home shortly.
 
A

Andy Pandy

Chris Blunt said:
Good advice there about using an ATM card, especially from Nationwide.
However, that still doesn't get around the money laundering issue
because you would have had to provide proper identification and
address details to obtain the ATM card in the first place.
True, but you only do it the once, not every time you get some cash.
 
Ad

Advertisements

A

Andy Pandy

Bartc said:
And when I asked about the buying rate (change back to sterling) it was
about $3.30 -- more than 50% difference between buying and selling rates!
And I thought 15% between buying and selling Euros was bad enough...

They said it was because Barbados had an 'exotic' currency, although they
also had plenty of stock of it...

And in Barbados itself, buy/sell rates for sterling at a bank was
$2.82/$2.95, about a 4% variation. So for anyone going, just take sterling
in paper money.
Yup - it's the same in most countries with a minor currency, changing money
there is usually very reasonable. Mind you practically anywhere is better than
here in the UK.
 
Y

Yellow

Andy Pandy [[email protected]] said:
Why bother buying holiday currency here? It's a rip-off, your giving them 5% or
more hidden in the rate. Withdraw from cashpoints abroad, much cheaper
particularly if you use Nationwide. And no pathetic UK "money laundering"
questions.
The Nationwide are shortly to start charging a fee for outside of Europe
usage according to Martin Lewis's site.
 
A

Andy Pandy

Yellow said:
The Nationwide are shortly to start charging a fee for outside of Europe
usage according to Martin Lewis's site.
Yes, I noticed the press release which said they'd pass on VISA's charges, I
guess this is what the new fee is for. But according to Martin Lewis's site
it'll only be 1%, which on the interbank rate is still probably the best value
way to obtain foreign currency.
 
B

BobC

Andy Pandy [[email protected]] said:






Why bother buying holiday currency here? It's a rip-off, your giving them 5% or
more hidden in the rate. Withdraw from cashpoints abroad, much cheaper
particularly if you use Nationwide. And no pathetic UK "money laundering"
questions.
The Nationwide are shortly to start charging a fee for outside of Europe
usage according to Martin Lewis's site.- Hide quoted text -

- Show quoted text -
By Europe, do they mean the geographical area or the EU, for which
"Europe" is often incorrectly used as a synonym?

I'm off to Ukraine shortly. In Europe, but not the EU.

BobC
 
R

Ronald Raygun

BobC said:
By Europe, do they mean the geographical area or the EU,
Perhaps they mean the zone in which the Euro is the adopted
currency unit.
for which "Europe" is often incorrectly used as a synonym?
I wouldn't put it quite as strongly as that. Many words have
different meanings. Why should "Europe" not? It's no worse than
using "America" as a synonym for the USA. Erm, OK, it's bad. :)
I'm off to Ukraine shortly. In Europe, but not the EU.
Nah, I don't think the traditional definition of Europe would
include the Ukraine. Anything part of the former USSR would not
have been deemed to be Europe, notwithstanding that many would
consider the Europe/Asia boundary to be the Urals.
 
Ad

Advertisements

D

Dave

In message
Andy Pandy [[email protected]] said:






"Bernard42" <[email protected]> wrote in message
The Nationwide are shortly to start charging a fee for outside of Europe
usage according to Martin Lewis's site.- Hide quoted text -

- Show quoted text -
By Europe, do they mean the geographical area or the EU, for which
"Europe" is often incorrectly used as a synonym?

I'm off to Ukraine shortly. In Europe, but not the EU.

BobC
Looks like you're out of luck. List of countries :-

http://www.nationwide.co.uk/creditcard/goldcard/foreigntransactions.htm

Dave

--
 
C

Chris Blunt

In message
Andy Pandy [[email protected]] said:







The Nationwide are shortly to start charging a fee for outside of Europe
usage according to Martin Lewis's site.- Hide quoted text -

- Show quoted text -
By Europe, do they mean the geographical area or the EU, for which
"Europe" is often incorrectly used as a synonym?

I'm off to Ukraine shortly. In Europe, but not the EU.

BobC
Looks like you're out of luck. List of countries :-

http://www.nationwide.co.uk/creditcard/goldcard/foreigntransactions.htm
That seems to include all of geographical Europe, plus several
countries completely outside Europe. eg Israel, the Falkland Islands,
and a few countries in the Caribbean. And what a relief to know that I
won't be charged a fee in the French Southern & Antarctic lands!

Chris
 
B

BobC

In message
Andy Pandy [[email protected]] said:
The Nationwide are shortly to start charging a fee for outside of Europe
usage according to Martin Lewis's site.- Hide quoted text -
- Show quoted text -
By Europe, do they mean the geographical area or the EU, for which
"Europe" is often incorrectly used as a synonym?
I'm off to Ukraine shortly. In Europe, but not the EU.
BobC
Looks like you're out of luck. List of countries :-
That seems to include all of geographical Europe, plus several
countries completely outside Europe. eg Israel, the Falkland Islands,
and a few countries in the Caribbean. And what a relief to know that I
won't be charged a fee in the French Southern & Antarctic lands!

Chris
I see the Nationwide site doesn't actually use the word "Europe", it
appears to be Martin Lewis who has added this bit.
I think the Martin Lewis definition of "Europe" must be "certain
places on the earth's crust"!

BobC
 
Ad

Advertisements

J

Jonathan Bryce

Ronald said:
Nah, I don't think the traditional definition of Europe would
include the Ukraine. Anything part of the former USSR would not
have been deemed to be Europe, notwithstanding that many would
consider the Europe/Asia boundary to be the Urals.
What about the likes of Latvia and Estonia which were previously part of the
USSR, and are now part of the EU?
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top