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Spending in Foreign Countries #192

Closed ghost closed 6 years ago

ghost commented 7 years ago

Links to #190

We need an efficient way of spending in foreign countries. The current process is to convert personal cash into the local currency, spend this and then file the receipts as expenses.

We should investigate interbank rate cards as alternative solutions that may be cheaper and more efficient for company spending and/or filing of expenses.

Below are some starting points to research:

Company card solutions: Revolut for business - not out yet, but have signed up for early access

Personal card (expensing) solutions: Revolut Monzo Interbank credit card (many options available) e.g. Nationwide Select Credit Card

@iteles what was the service you used to exchange money last time you went to Europe? Do you know what the date and exchange rate was?

iteles commented 7 years ago

Assigning this to myself and adding the question label so I can look for this on Thursday after our accounting deadline!

iteles commented 7 years ago

@markwilliamfirth In answer to the question, we've used ICE in the past but in the last year, we have simply used the money from our personal accounts in Portugal so haven't needed to exchange at expensive rates.

iteles commented 6 years ago

Dealt with, linked to #430