Best way to pay?

[red cuillen]

Hi all!
Looks like we'll be taking the plunge and buying into the DVC soon, mix of resale and direct (unless the pound takes another plunge). Just wondered what the best way of paying for the initial purchase, and the annual fees? I've read threads that mention international money transfers, and paying fees via credit card (fx free of course).
Just wondered which methods seasoned DVCers find works for them.
Thanks

[Mr Tom Morrow]

Most of my contracts were through DVC direct. I used to E Mail our Guide and tell him what I wanted. He then processed the contract and I paid by credit card with a non foreign transaction fee. Then I paid that off a week later.

The add on we did last year was through Resale. I paid $1000 by credit card and transferred the rest via Travelex with no fee and a good exchange rate compared to the tourist rate.

[Oliver123]

I paid via Credit Card 0% FX and then did a balance transfer (0.89%) so I can pay it of over 2 years

[Shooby doo]

Resale purchase & used our own bank to transfer the funds- costs were £20 for deposit & a further £30 for main balance. Annual dues we used to pay the lump sum in Jan with a UK $ account (Citibank) but now pay be monthly DD- DD has to be through an US Bank account( we use Suntrust).
SD

[WDWMAD]

We bought direct and paid via bank transfer at our local bank, took a few days to go through, but, all was good.

[red cuillen]

Thanks for the info. Looks like i won't be missing a trick by using bank transfer then! Good to have something else to research too with travelex and citibank!
Thanks again

[Shooby doo]

Red we were with Citibank for about 5 years but they changed the way they worked out the FX rate, to start with they were better than the tourist rate then changed & became worse- a lot worse plus there was a £5 monthly fee but because your money was changed into $ straight away they then charged you a higher rate to convert the $ back into £'s- so although it wasn't a lot of money it was more the principle & tbh paying by DD is a lot easier than trying to find the money right after Xmas!
SD

[red cuillen]

thanks Shooby, had a look at citibank and happy that it's not for us. Travelex and transferwise (link from headforpoints) look good, but reluctant to create more online accounts etc at the mo. I think bank transfer will be the simplest method, but also credit card, will be a great way to reach those bonus targets for more points! Cheers all

[YorkshireT]

You will probably be missing a trick using your own bank- the exchange rate will likely not match the rate of Hifx etc
I paid 1000 credit card (Halifax or Post Office so no fees and get proper inter bank exchange rate), then used Hifx. Hifx were not quite the best exchange rate but I did some due diligence and could see they were a very substantial company (and for example do the Post Office travel money I think it was) and had a good reputation. Technically if such a company went bust during the transfer process, you could lose money. I saw Hifx as a safe pair of hands. There was a slight complication as my name is on a list as connected to a diplomat (there are certain flags to prevent illegality, not limited to Hifx but any body transferring money abroad). I've heard this before, it isn't me just a name match (happens a lot if a name matches to a government official or diplomat abroad or one of their close relatives anyone can be flagged, it's to stop corruption and laundering). Anyway Hifx were really good, great service, called me up to verify it was little old me and not some New Zealand politician, then sorted the transfer.

[Shooby doo]

I don't know how XE compare to HiFX but that's who we now use to transfer our £ to Suntrust, it's also a Live rate, have to say that they have been good so far. I did ask if there was a limit for me to transfer...£350k not much chance of hitting that then
SD