Cards for using abroad

Christa1

According to the link above it sys the zero does not charge at ATM machines so has this changed? I also read in the same article that an FX card where you top up by dd as a good option for withdrawing cash. I am wondering if I should apply for a Post Office card as this seems to get the best rating Just so i understand do all cards for the US now charge an ATM fe and % fee for cash withdrawls? Thanks.

dzug1

Christa1 wrote: »

According to the link above it sys the zero does not charge at ATM machines so has this changed? I also read in the same article that an FX card where you top up by dd as a good option for withdrawing cash. I am wondering if I should apply for a Post Office card as this seems to get the best rating Just so i understand do all cards for the US now charge an ATM fe and % fee for cash withdrawls? Thanks.

Are you talking about pre-load cards or standard credit cards or even standard debit cards?

Lumping them all together I think the answer is no to ATM fee and yes to cash withdrawal % fee.

exel1966

Christa1 wrote: »

According to the link above it sys the zero does not charge at ATM machines so has this changed.

No it has not changed, as already posted ShAbbey have never charged their fee (interest excluded) for withdrawing cash abroad on this card.

There are two different fees which can be charged, the card owner fee (usually £3.00 or 3% approx) and the ATM owner fee (usually $2-3.00 in the US). Neither party has control over whether the other one charges or not.

MSE ONLY refers to the charges from the card owner (ShAbbey) as it would be impossible to gather info on fees from every single ATM owner.

Typhoon2000

Quick question, rather than start a new thread I thought I'd ask it here. Going on holiday to Singapore and Thailand in August, I need a debit or credit card (paid back in full at the end of the month) that will be the cheapest for withdrawing cash from an ATM ( not concerened with purchases). What do I go for. Nationwide Flex account is good for Europe but how does it compare for elsewhere?

Thanks

King_Of_Fools

If you get the basic (non-debit card) Flex Account then it is free to withdraw cash worldwide as it is a Mastercard (Cirrus) not Visa.

Christa1

How do you get the N W card? I do have a flex account with NW, but my NW card is a VISA debit card, I have used this very happily in New York for the last two years and it hasn't cost me a thing, so I take it if I use this now there will be a charge? The other option was yes, a pre loaded card which is how I used the debit card with NW you put the money intio the flex account then withdraw as and when so it seems this flex card works in the same way and if I use the MSE link there will be no fee. Other than that which card would MSErs reccommend to take to the US 1. For purchars and 2. for cash withdrawls?

Typhoon2000

Thanks, just poped into my local Nationwide and indeed the basic Card Cash Flex account provides free worldwide cash withdrawals at ATMs! BTW its only available to those without a NW current account.

skintlass

RichardJW1 wrote: »

I live & work in Central Asia and actually conducted a little test back on 9th April regarding cost of withdrawing cash (in USD)

So the contenders were as follows

1) NatWest Gold Mastercard
2) Barclaycard Visa (the simple one)
3) Nationwide Gold Visa

The total cost of withdrawing $1000 was (this includes ALL charges)

1) Nationwide - £720.68
2) Barclaycard - £740.50
3) Natwest Mastercard - £762.18

This was on a day when the exchange rate was 1:1.47.

But I had 'loaded' the cards so didn't incur the cash advance apr which with both Visa cards is 27.9% whereas the Mastercard was only 24.9%

When you say you had loaded the card do you mean you had paid money into the card account so you were in credit on the credit card and would this work with a balance transfer - i.e. Have 2 cards card A and Card B. Card A has 0% for 12 months or longer for balance transfers - transfer £2000 to Card B thereby putting Card B in credit. Withdraw £2000 (or slightly less than the equivalent dollar amount - to allow for transfer fees etc) in dollars from Card B which charges nothing for taking out money abroad. This would give you cash in dollars for which you'd be paying 0% on Card A (apart from the initial balance transfer fee of course)and not charged a withdrawal fee from Card B. Does this make sense or have I lost it completely?

RichardJW1

skintlass wrote: »

When you say you had loaded the card do you mean you had paid money into the card account so you were in credit on the credit card and would this work with a balance transfer - i.e. Have 2 cards card A and Card B. Card A has 0% for 12 months or longer for balance transfers - transfer £2000 to Card B thereby putting Card B in credit. Withdraw £2000 (or slightly less than the equivalent dollar amount - to allow for transfer fees etc) in dollars from Card B which charges nothing for taking out money abroad. This would give you cash in dollars for which you'd be paying 0% on Card A (apart from the initial balance transfer fee of course)and not charged a withdrawal fee from Card B. Does this make sense or have I lost it completely?

All I do is go online and transfer an approximate value in sterling to the cards just prior to making the withdrawal.....The Visa transactions can actually take upto 1 week to appear on the online statement but that I think is because the bank uses the old way of putting the card in one of them swipe machines.

I still get nailed for the cash handling fee but avoid the 27.9% (or 24.9%) cash APR - because its a company expense it is a real nightmare to try and recoup every last legitimate penny so this is the only way I see possible.......Previously I used to pay the account off at the end of the month when the statements arrived but of course cash withdrawn at the start of the month cost more than that taken at the end

FRANKIEBOY_3

Thank you all for your help