Cheap Travel Money Discussion Area

dzug1

MykieMike wrote: »

Yes you can. I have just had a leaflet come with my latest Santander statement. It says that you can now use your Santander Debit card to make withdrawals from Santander cash machines in Spain Fee Free.

This is the detail from their website:

All main adult Santander current accounts (those which are credited with at least £1,000 per month) can benefit from free cash machine withdrawals in Spain. Simply use your Santander Debit Card in a Santander branded cash machine in Spain to receive the withdrawal fee free. This means: No Cash Handling Fee AND No Foreign Exchange Fee will be charged.

But does that also mean 'no exchange rate loading'??

I don't know the answer but given the company I'd be be very suspicious.

MykieMike

dzug1 wrote: »

But does that also mean 'no exchange rate loading'??

I don't know the answer but given the company I'd be be very suspicious.

I am going to Spain next week so I will draw some Euros out using my Santander debit card from a Santander cash machine and will see if I get charged any fee's. Will post a reply when I get back.

x__Indigo_x

(im dumb!)

i have a nationwide debit card.
i want about 800 pounds worth of euros

will i get the best from my monye going to get the money in the uk or go over and take the money out there???

secondly if its using card there then when it asks about what rate do i want it what do i out ( i hope someone gets me ?)

i THINK( reading back a few pages) because im using the card in Greece i will NOT get charged for withdrawing money over there and i would get a better rate???

second question i think they ask do u wanna be charged in euros or sterling...which is best option :S

katies_mum

We go to US in 7 weeks, I have got our $$ being delivered on Friday. Now trying to decide between Santander Zero card or Post Office credit card (our Nationwide one only does Europe now without the extra charges). We might not need to use the card its just as a back-up. Anyone any comments or experiences with Santander / Post Office cards.

Many thanks

Kido

katies_mum wrote: »

We go to US in 7 weeks, I have got our $$ being delivered on Friday. Now trying to decide between Santander Zero card or Post Office credit card (our Nationwide one only does Europe now without the extra charges). We might not need to use the card its just as a back-up. Anyone any comments or experiences with Santander / Post Office cards.

Many thanks

I have a Santadar zero card which I normally use as a back up. This time I went to Vancouver last month I used it for my accomadation and also for most of my shopping. It was very east and convinient. I didn't have any problems using it at all. I can defiantely recommend it. I've no idea about the Post Office card as I don't have one. The only thing I will say is that my brother applied for a Santadar card a couple of weeks ago and got turned down, so tried the Post Office and they accepted him. Hope this helps.

katies_mum

Thanks, we bank with Alliance and Leicester so was hoping that might help.

I`ve just been reading up and not sure what the following means, can anyone help please - got my simple head on today for a change!! and there is also the Saga card.

SAGA Interest charged on cash withdrawals even if paid off in full: No. Cash withdrawal interest: 19.6%

POST OFFICE Interest charged on cash withdrawals even if paid off in full: Yes, 24.1%

SANTANDER Interest charged on cash withdrawals even if paid off in full: Yes, 27.9%.

Am I right in thinking that even though Santander have zero charges for withdrawing cash they will sting you a high rate of interest when the bill comes if you need to draw cash.

Saga whilst they don`t chage you interest its 2% for a cash withdrawal.

So does this mean that Saga card could be cheaper? or am I misunderstanding how it works? :doh:

Thanks again (brain completely dead as you can most probably tell)
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malc_b

Most credit cards charge for cash. Otherwise you could keep moving money between cards with different statement dates and so get a free loan. Sometimes this is a x% when you make a cash withdrawal. Sometimes you pay interest from day 1 with no free period like with purchases. And sometimes both. The zero does not charge a cash withdrawal fee, but you do pay interest from day 1, unless of course the card is in credit, which is against the T&Cs.

katies_mum

Thanks for explaining it, so unless I`m missing something the Saga card may be the best should you need cash as its 2% or £2 minimum then if you pay off the balance in full then there is no interest added on. But I may be missing how it all works..it is unlikely we would need cash but suppose you never know.

bigboyeast

Just a quick note here. I have published a much fuller description on the Credit Card Forum of Tesco’s latest Rip-Off when using their MasterCard’s abroad.

From last November, Tesco changed their cards T&C’s so that they no longer use the wholesale market rate set by MasterCard. They will determine their own rate for each transaction. As I found out on Monday this means an extra 2.25% FX conversion loading in addition to their published 2.75% FX handling charge when buying items with their MasterCard in Euros. Tesco charged me a massive 5% conversion loading above the published MasterCard rate. So far I have been unable to find any other cards (see list on other forum) that are carrying out this underhanded and despicable practice, but you are now warned to look at your cards latest T&C’s to determine what FX rate they will be using before applying their published loading factor.

It would have been cheaper to have converted sterling into Euros at the Tunnel, use one of Martin’s “Cards from Hell” debit cards or even use Auchan’s Dynamic Currency Conversion rate of 1.15 Euros to pound rather than my Tesco’s Mastercard.

YOU HAVE BEEN WARNED

DriftingBore

dzug1 wrote: »

I believe some US mutuals offer something similar.

Elsewhere - not a clue

Hey dzug and others,

Anyone know what the charges will be for me using a FairFX Dollars Card in Canada? I assume I will lose out on some money in the conversion but I want to know how much....

Cheers