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  #1  
Old November 10th, 2015, 03:13 PM
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UK bank account or pre-paid credit card

Has anyone ever opened a UK bank account or purchased a refillable pre-paid credit card in GBP for purchasing Land Rover parts (of maybe even travel at a later date)? I don't really have anything I need to buy right now, but I was thinking with the exchange rate what it is, it might be a good time to buy things. Then I thought, what if i just "buy" a few GBP and use that later to buy something. Then even if the exchange rate goes back up, I'd still be able to cash in on the good conversion.

And of course that gets me thinking, what about an account in GBP that I could also put in their stock market, so my money isn't sitting around doing nothing.

I know there are a lot of very money savvy people on here. Do these things sound like a good idea? Or are there better ideas?
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Old November 11th, 2015, 01:04 AM
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As far as I know you need a perm UK address to open a bank account. When we emigrated we kept one of ours open but we still have to keep some money in it to hold it open & prevent service fees.
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Old November 11th, 2015, 01:23 AM
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If your able to, Paypal is an excellent service. It offers excellent buyer protection in case parts don't arrive, or do arrive damaged.


Quote:
Originally Posted by jafir View Post
Has anyone ever opened a UK bank account or purchased a refillable pre-paid credit card in GBP for purchasing Land Rover parts (of maybe even travel at a later date)? I don't really have anything I need to buy right now, but I was thinking with the exchange rate what it is, it might be a good time to buy things. Then I thought, what if i just "buy" a few GBP and use that later to buy something. Then even if the exchange rate goes back up, I'd still be able to cash in on the good conversion.

And of course that gets me thinking, what about an account in GBP that I could also put in their stock market, so my money isn't sitting around doing nothing.

I know there are a lot of very money savvy people on here. Do these things sound like a good idea? Or are there better ideas?
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  #4  
Old November 11th, 2015, 02:04 AM
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Originally Posted by Tarheeld View Post
If your able to, Paypal is an excellent service. It offers excellent buyer protection in case parts don't arrive, or do arrive damaged.
I don't think you understand his question, or how PayPal buyer protection works.

I'll let Jafir clarify his question about foreign exchange, but as to the PayPal Buyer Protection, it's not shipping insurance. If your item is lost in transit, or damaged, filing a claim against the seller is just plain wrong. The sole exception would be if your seller is also the shipper, for example if they operated their own delivery service.
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Old November 11th, 2015, 07:35 PM
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Quote:
Originally Posted by Tarheeld View Post
If your able to, Paypal is an excellent service. It offers excellent buyer protection in case parts don't arrive, or do arrive damaged.
Will paypal let me acquire money at the current exchange rate? That's the main goal. Transfer some money from dollar to pounds while the rates are good, but have them accessible for online transactions. Having the money not just sitting there is also a goal. I'm not talking about a crazy amount of money, I was just noticing how good the exchange rates are these days.

------ Follow up post added November 11th, 2015 06:36 PM ------

Quote:
Originally Posted by Landy_Andy View Post
As far as I know you need a perm UK address to open a bank account. When we emigrated we kept one of ours open but we still have to keep some money in it to hold it open & prevent service fees.

Thanks
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Old November 11th, 2015, 08:23 PM
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I think a travel card would be what your after. You can store different currencies on it at the time of acquisition.
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