Go Back   Cruiser Log World Cruising & Sailing Forums > Cruising Forums > General Cruising Forum
Cruiser Wiki Click Here to Login

Join Cruiser Log Today

Reply
 
Thread Tools Search this Thread Display Modes
 
Old 09-04-2012, 10:47 AM   #1
Ensign
 
Join Date: Aug 2012
Home Port: Portland
Vessel Name: Endurance of Portland
Posts: 9
Default Banking abroad

Hi,

About to start a couple of years or more of long distance cruising abroad, both Europe and the States/Caribbean.

I have a private pension paid in sterling into my current account in the UK

Can anyone give me up-to-date advice on the best way to do my banking whilst abroad, best banks, credit cards, ATM cards etc, etc

Also, which is the best way to have cash funds transferred to me whilst away?

Many thanks and fair winds

Graham
__________________

__________________
Forget the storm........dance in the rain
Endurance is offline   Reply With Quote
Old 09-04-2012, 11:08 AM   #2
Admiral
 
Auzzee's Avatar
 
Join Date: Jan 2005
Home Port: Darwin
Vessel Name: Sandettie
Posts: 1,917
Default

So far, I have only been accessing my bank through South East Asia and Japan. I am using a standard debit card against my savings account. I bank with a small bank in Australia and have had no difficulty in getting funds as I need them. I haven't needed to grab a big fist full of dollars as yet. I have used my credit card for large purchases and merely transfer the money into the credit account next time I am online.

I had hoped this arrangement will continue when I go to the US and Mexico, and also when I cross the south Pacific.

Perhaps the best thing to do is to go and see your local bank manager and ask for advice specific to your plan. Please let us know how things turn out.
Cheers,
__________________

__________________
"if at first you don't succeed....Redefine success"!


Auzzee is offline   Reply With Quote
Old 09-04-2012, 11:27 AM   #3
Ensign
 
Join Date: Aug 2012
Home Port: Portland
Vessel Name: Endurance of Portland
Posts: 9
Default

Thanks Auzzee,

I was trying to get a few independent ideas before I spoke to the bank, bearing in mind the 'criminal' activities of the banks in the UK recently. Whose hype do you believe!

PS I sent a lengthy response to your question about sleeping patterns whilst single-handed, but where did it go? Didn't want you to think I'd ignored it.

Regards Graham
__________________
Forget the storm........dance in the rain
Endurance is offline   Reply With Quote
Old 09-04-2012, 03:49 PM   #4
Commander
 
chiroeurope's Avatar
 
Join Date: Apr 2008
Home Port: Edinburgh
Posts: 189
Send a message via Yahoo to chiroeurope Send a message via Skype™ to chiroeurope
Default

Graham british banks are criminal in that IF you use your credit card with them they give you full protection on the purchase and give you the bank commercial rate of exchange on the currency. IF you use your debt card they add an average of £1.50 per transaction to the fee. IF you have a fully paid off credit card and can keep it paid off then you are okay.

But they also want to have your planned travel for the entire time you plan on being out of the UK and you can still run into problems. Chip and PIN cards do not work with all US cash machines (we used our Direct Debt card to pull cash and used that as it worked better for us). It all depends on how you deal with and how early you tell the bank you are traveling as some banks will see if they can give you a travel credit card just to give you the safety of the credit card (and them the fees).

That is just experience we have had and we have friends living in Chile who have to let their bank know everytime they come back to the UK and when they are going back to Chile.

Good Luck and take care.

Michael
__________________
What you see in the Universe, sees you.
MM6WMU
chiroeurope is offline   Reply With Quote
Old 09-16-2012, 01:15 AM   #5
Lieutenant
 
Join Date: Feb 2010
Home Port: the boat
Vessel Name: Skipping Stone
Posts: 79
Default

You really need to be very careful. I'm finding that the banks I am dealing with now are really gouging me.
Fees up to us$40.00 a month for absolutely nothing and something called "international transaction fee" which can be over 16% on each transaction are charged me without permission or explanation.
Even the formerly free debit card withdrawals are now costing up to ec$8.00 each.
Do research, ask a lot of questions about fees, both on the account and on transactions. We're already gone so it's too late for us now.
BEWARE!!!!!!!
__________________
"Any a**hole can make a boat go; it takes a sailor to stop one"
Spike Africa, aboard the Schooner Wanderer, Sausalito, Ca. 1964
www.skippingstonesailing.com
facebook.com/svskippingstone
capta is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Banking In Usa multimadness The Poop Deck 9 04-17-2008 08:21 PM
Banking And Credit Cards On A Voyage cartooncorpse General Cruising Forum 15 04-12-2008 02:53 PM
Employment Abroad atavist General Cruising Forum 4 02-13-2008 03:21 PM
Working abroad Karlvb The Poop Deck 1 10-16-2006 11:19 PM
Banking for cruisers steelfan2 General Cruising Forum 2 09-18-2006 12:38 AM

Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

RV & Travel Trailer Communities

Our RV & Travel Trailer sites encompasses virtually all types of Recreational Vehicles, from brand-specific to general RV communities.

» More about our RV Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities


All times are GMT. The time now is 10:32 PM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.0
×