Not strictly on topic here, but I was wondering if using Travelex is really that good. The FX rates appear dreadful. I had to fund my UK mortgage the other day from here in HK and was quoted GBP/HKD 15/15.07 bid/offer spread from the bank. Out of interest I checked Travelex and their two way price was 14.40/15.97 (the interbank spot rate that day was around 15.03). The Travelex spread appears to be daylight robbery! I appreciate the buy-back rate guarantee, but it doesn't help if you're actually spending the currency.

Isn't it better just to use a UK bank cash card to withdraw funds from a hole-in-the-wall when abroad, or do high-street banks give even worse rates when doing that? The only country I can remember not being able to use my HK card is Bahrain, and the rates I get all seem miles better than what Travelex would offer.