Cheap Travel Money Discussion Area

stilltheone

durrant23 wrote: »

When you use the tool which tells you the abroad fees for your card, it tells you that's it's 'far cheaper to spend on the card than with withdraw cash'. Why is this so, when my card (Metrobank) has 0% loading fee and no fee for cash withdrawals? Surely €100 spent in a shop will cost me the same in sterling as a €100 cash withdrawal?

I'm asking because I have a year abroad in the Netherlands next year and I know that in some places they don't accept visa or mastercard (they have their own special Dutch style cards), so I was planning on using cash withdrawn with the card.

Metro Bank is not included in the article's description. Feel free to spend and withdraw cash....if you have it.

stilltheone

stphnstevey wrote: »

Am I right in thinking that when we are in the USA soon, with the Sainsburys Gold Credit Card (the one you pay £5/month), that if we draw cash out of an ATM, the card company won't charge for cash withdrawals (provided the balance is paid in full each month)?

This seems a much better alternative to changing money in the UK?

Will still take a little changed into cash, just in case

That is correct. Though of course you have to watch out for fees charged by the ATMs of the US banks.

KTF

You will also have to pay the cash advance interest rate on any cash withdrawal.

stilltheone

KTF wrote: »

You will also have to pay the cash advance interest rate on any cash withdrawal.

No, they won't, as long as they pay off the full statement balance.

stphnstevey

stilltheone wrote: »

That is correct. Though of course you have to watch out for fees charged by the ATMs of the US banks.

I sit not the same as over here, that you can use anybody's cash machine?

stilltheone

stphnstevey wrote: »

I sit not the same as over here, that you can use anybody's cash machine?

US$1 comes to mind. Perhaps someone will post with an up to date report.

stphnstevey

stilltheone wrote: »

US$1 comes to mind. Perhaps someone will post with an up to date report.

Be good if someone could confirm USA ATM fees, particularly if there are some that don't charge and if they tell you the charge before you take money out, thanks

John_Pierpoint

durrant23 wrote: »

When you use the tool which tells you the abroad fees for your card, it tells you that's it's 'far cheaper to spend on the card than with withdraw cash'. Why is this so, when my card (Metrobank) has 0% loading fee and no fee for cash withdrawals? Surely €100 spent in a shop will cost me the same in sterling as a €100 cash withdrawal?

I'm asking because I have a year abroad in the Netherlands next year and I know that in some places they don't accept visa or mastercard (they have their own special Dutch style cards), so I was planning on using cash withdrawn with the card.

With a Metro card you are probably right - some ATM.s might charge a fee, just as some UK ones do in Service Areas etc.
I think you might be safe in Holland BUT if you get to France or countries further South and offer plastic BEWARE of Dynamic Currency Conversion - In theory the shop/cafe is meant to offer you the choice for the currency of the transaction but "the machine has made the decision": British plastic so charged in Sterling with a 3+ % exchange rate loading.

dzug1

stphnstevey wrote: »

Be good if someone could confirm USA ATM fees, particularly if there are some that don't charge and if they tell you the charge before you take money out, thanks

Most of them charge - there's not many that don't.

And the situation is fluid and difficult to keep on top of so what you get told today might have changed next month.

They should tell you the charge - but even there what it tells you is not 100% reliable.

dzug1

stphnstevey wrote: »

I sit not the same as over here, that you can use anybody's cash machine?

Very definitely not - it used to be the case some years back but most (not all) charge you the same as a US customer from a different bank.