Cheap Travel Money Discussion Area

Marty06

malc_b wrote: »

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.

I was just wondering about this too. If you made a cash withdrawal using the Santander Zero, then paid off the account immediately (by transfering from your bank online) would you only be charged one day's interest? Or do they charge you up to when they issue you the statement? I was also thinking about putting it into credit to withdraw against it to avoid the interest charge. Can you point to where in the T&Cs this is prohibited (am not doubting you, just interested to find out how this works).

katies_mum

Marty06 - thats why I`m also looking at the Saga card as no interest is charged on the cash if you pay it off - they make the charge for drawing the cash. (maybe you are not as old as me!!)

malc_b

Marty06 wrote: »

I was just wondering about this too. If you made a cash withdrawal using the Santander Zero, then paid off the account immediately (by transfering from your bank online) would you only be charged one day's interest? Or do they charge you up to when they issue you the statement? I was also thinking about putting it into credit to withdraw against it to avoid the interest charge. Can you point to where in the T&Cs this is prohibited (am not doubting you, just interested to find out how this works).

On the back of the letter which my latest Zero card came on it says in 5.5 "we calculate interest on a daily basis from the date we charge them until you have repaid your account in full", so yes, you should just pay one day's interest. Also, I seem to remember that Faster Payments worked too. You could always try it in this country with a say £10 cash out which would cost about 20p/Month (26% APR it says).

BUT note that cash advances are last in the queue so you would have to clear the whole card including any other purchases to pay off the cash advance.

The Zero user guide booklet says in 5.7 (Payments and interest) that "you should not make payments that place your account in credit, if you do we may restrict the use of the card and your credit limit"

Of course that doesn't bar you ending up in credit due a refund from a shop of goods you paid off on last month's bill.

Also, note that you have to tell Santander where and when you want to use the card abroad otherwise they may refuse payment for security.

Marty06

That's useful - thanks MalcB.

MykieMike

MykieMike wrote: »

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.

I used my Santander debit card to withdraw 40 euros from a Santander cash machine in Benalmadena Spain. My account shows no fees charged whatsoever for making this withdrawal and they have applied an exchange rate of 0.82p (1.21 euros to the £) which I think is a pretty good exchange rate. The amount that came out of my account was £32.99.

lmsk1977

Hi
Am not sure I am doing this right but not used a forum before so apologies lol

I have been looking for the best pre pay card to take to france and need one i can get quickly due to time constraints and want to be able to reload via internet banking while away...I have seen this Escape one that appears to be better than the ones recommended on here in the travel money guide... Says no charge to load and no charge for atm withdrawals which all the others have. You have to pay 9.99 but this is refunded onto your card once you have loaded £100... just wondered if anyone had any experience of them or any advice? They are part of the same company as phones4u so i assume pretty reliable?? Any info greatly appreciated

ash213

PLEASE CLAIRFY..

I have a nationwide visa debit which i have used for the past few travels in europe and usa.

Just to confirm If i use it this year in USA i am still getting one of the best deals?

I dont have time to open a credit card now or other accounts, so I simply need to know im OK using my nationwide card.

Please help.

Thank you.

John_Pierpoint

Yes, It is still one of the best deals for USA. You might be 1% worse off than you were last year but you are still 2% better than many other plastic cards, if you stick with Nationwide VISA Debit.

ash213

John_Pierpoint wrote: »

Yes, It is still one of the best deals for USA. You might be 1% worse off than you were last year but you are still 2% better than many other plastic cards, if you stick with Nationwide VISA Debit.

cheers think ill transfer my millions over there then for the trip, cheers :money:

gary396

katies_mum wrote: »

Now trying to decide between Santander Zero card or Post Office credit card .... Anyone any comments or experiences with Santander / Post Office cards.

We got the Post Office card just in time for our trip to Australia in Jan 2009 - used it extensively there with no problem whatsoever (and still use it as a day to day card now). I phoned them before we left to advise about foreign spends (i.e. on a new card), they noted that and it was fine. It came with 3-months interest free which included foreign transactions - I think it still does. No loadings and the transactions reflected the bank rates, i.e. not the lower tourist rates. Comes with on-line access so you can check your spends / rates as you go along. Very good card, enjoy your trip.