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New best overseas credit card launched

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  • pksaraf
    pksaraf Posts: 204 Forumite
    First Anniversary Combo Breaker
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    from your article:

    "The best debit card for overseas use is from Nationwide. With its plastic, there’s no cash withdrawal fee and no foreign loading fee in most non-European countries.
    Within Europe, it’s fee-free until 1 June, at which point you’ll then be charged a 0.84% foreign loading fee. From 1 July, that charge rises to 1%."

    I think youve got it wrong and it is the other way round - charges will apply in non-eurpean countries and not within europe.
  • Inactive
    Inactive Posts: 14,509 Forumite
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    pksaraf wrote: »



    I think youve got it wrong and it is the other way round - charges will apply in non-eurpean countries and not within europe.

    Agreed, it is the wrong way around..
  • payless
    payless Posts: 6,957 Forumite
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    I have
    Abbey zero mastercard
    NWide visa credit

    Just out of interest- checked my 2 credit card statements from purchases in USA ( prior to NW changing the new fee)
    Nationwide Rate was better than Abbey for same day transactions , so my guess is even though abbey says zero- it includes the small fee that to date NW have covered

    either that or the one was delayed and affected by rate changes .

    Never used 2 on same day agin - but in general looks like NW gave me 0.5% better rate on dollar ... that said Abbey card does have other features , and of course NW new "small fee" makes its less competitive in US than Abbey Zero -
    although still a good card compared with most providers
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • d00fus
    d00fus Posts: 52 Forumite
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    payless wrote: »
    Just out of interest- checked my 2 credit card statements from purchases in USA ( prior to NW changing the new fee)
    Nationwide Rate was better than Abbey for same day transactions , so my guess is even though abbey says zero- it includes the small fee that to date NW have covered

    either that or the one was delayed and affected by rate changes .

    Never used 2 on same day agin - but in general looks like NW gave me 0.5% better rate on dollar ... that said Abbey card does have other features , and of course NW new "small fee" makes its less competitive in US than Abbey Zero -
    although still a good card compared with most providers

    I've done the same test and I believe it's because the Abbey Zero is a Mastercard, and it seems that Mastercard's wholesale rate is very slightly worse than Visa's. It's similar to the difference between the rate on the Cirrus (Mastercard) NW cash card vs the Visa debit card; again in that case the Cirrus rate is very slightly worse. From memory in my tests though the difference was closer to 0.02%, so effectively negligible.
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