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    • EpilipticFishGirl
    • By EpilipticFishGirl 10th Oct 16, 2:23 PM
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    EpilipticFishGirl
    0 WOW
    Cheaper to withdraw abroad on card than take cash?
    • #1
    • 10th Oct 16, 2:23 PM
    0 WOW
    Cheaper to withdraw abroad on card than take cash? 10th Oct 16 at 2:23 PM
    I'll be going to various places in Europe soon and wanted to get the best rate on transferring my pounds to euros. I also have a Halifax Clarity card which i got for making purchases abroad. Looking at the best rate i can get in cash compared to the cost of withdrawing on my card, am i being silly or is it cheaper to withdraw cash abroad - taking into consideration the withdrawal fee (approx £1.50 per £100 withdrawn in cash)? Is this even right?

    E.g. locally the best deal on £100 in euros cash is €108.76 at debenhams but with the clarity reward card its €110.87. Even with the £1.50 hit im better off with the card. Is this right?
Page 1
    • Voyager2002
    • By Voyager2002 10th Oct 16, 3:13 PM
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    Voyager2002
    • #2
    • 10th Oct 16, 3:13 PM
    • #2
    • 10th Oct 16, 3:13 PM
    Yes, an ATM withdrawal in the country usually costs less than buying the equivalent cash in the UK (obviously if you already have the foreign currency then taking it with you is free).

    And what is that 1.50 charge? The best cards do not charge for ATM withdrawals: within Europe the simplest is probably the Metro bank debit card.
    • zagfles
    • By zagfles 10th Oct 16, 8:12 PM
    • 11,107 Posts
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    zagfles
    • #3
    • 10th Oct 16, 8:12 PM
    • #3
    • 10th Oct 16, 8:12 PM
    The Clarity doesn't have a withdrawal fee. It charges interest from when you withdraw but you can minimise that by paying it off asap, you don't need to wait for the statement.

    On a short holiday just pay it off when you get back, on a longer holiday you might want to pay it while abroad if you have internet access. Interest works out to something like 3-5p per day per £100 withdrawn.
    • YorkshireBoy
    • By YorkshireBoy 10th Oct 16, 11:09 PM
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    YorkshireBoy
    • #4
    • 10th Oct 16, 11:09 PM
    • #4
    • 10th Oct 16, 11:09 PM
    Interest works out to something like 3-5p per day per £100 withdrawn.
    Originally posted by zagfles
    Which is where the OP's confusion lies. The representative rate of 18.9% APR equates to very nearly 1.5% per month (or £1.50 on their £100 withdrawal).
    • Gloomendoom
    • By Gloomendoom 11th Oct 16, 9:13 AM
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    Gloomendoom
    • #5
    • 11th Oct 16, 9:13 AM
    • #5
    • 11th Oct 16, 9:13 AM
    Look at the Barclaycard Visa travel card. No interest and no fees (until Oct 2018).
    Advice; it rhymes with mice. Advise; it rhymes with wise.
    • EpilipticFishGirl
    • By EpilipticFishGirl 11th Oct 16, 6:34 PM
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    EpilipticFishGirl
    • #6
    • 11th Oct 16, 6:34 PM
    • #6
    • 11th Oct 16, 6:34 PM
    Thank you so much this is very helpful.
    • A_T
    • By A_T 12th Oct 16, 7:35 PM
    • 66 Posts
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    A_T
    • #7
    • 12th Oct 16, 7:35 PM
    • #7
    • 12th Oct 16, 7:35 PM
    Clarity does not have it's own ATM withdrawal fee abroad. But the bank whose ATM you use might well do.
    • zagfles
    • By zagfles 13th Oct 16, 8:02 AM
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    zagfles
    • #8
    • 13th Oct 16, 8:02 AM
    • #8
    • 13th Oct 16, 8:02 AM
    Clarity does not have it's own ATM withdrawal fee abroad. But the bank whose ATM you use might well do.
    Originally posted by A_T
    I've never known an ATM in Europe to charge anything and I've been to most European countries. This seems to be an issue in certain few countries, eg USA and Thailand.

    I guess like here some ATMs in pubs, shops etc might charge, but proper bank ATMs in Europe never charge, IME anyway.
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