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International ATM withdrawal

I have a BOS student debit card and credit card. How much would be charged to withdraw from ATMs overseas and which is better? How about swiping card for purchases?

Ta

Comments

  • td_007
    td_007 Posts: 1,212 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Normally you will have 2.75% foreign usage charge (or whatever it is called) plus ATM usage fees again in the region of 2-3%. If you have to, use the debit card to withdraw from ATM as with the credit card you will have to pay interest from the moment you make the withdrawal. For purchases both would be similar. It is always good practice to call up your bank to get the latest fees/charges in force.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    edited 14 June 2009 at 10:37PM
    Their web site has the following page:

    http://www.halifax.co.uk/bankaccounts/Overdraftsandcards.asp?!!!!!HOME4

    "You can use your debit or cash machine card at any shop or cash machine, in the UK or abroad, wherever you see the VISA sign.

    If you use your Visa debit card abroad, there will be a service fee of £1.50 plus a currency conversion fee of 2.75% of the total amount, for each transaction. Overseas cash machine providers may also charge for cash withdrawals."



    Also:


    http://www.halifax.co.uk/creditcards/carduseandmaintenance.asp?!!!!!CC3


    "Cash advances are subject to a handling fee of 3% (minimum £3). Any transactions you make overseas will also incur a foreign currency exchange fee of 2.95%."


    Based on that, I'd take my foreign currency with me, make sure any additional spending is done on my credit card (not cash advances, purchases only) and keep my debit card safely tucked away in my pocket. Then make sure I clear the credit card balance in full.


    Alternatively take a look at the Nationwide credit card.


    http://www.nationwide.co.uk/creditcard/goldcard/foreigntransactions.htm
  • superstar_2
    superstar_2 Posts: 2,104 Forumite
    what's a currency conversion fee of 2.75% of the total amount,?
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    superstar wrote: »
    what's a currency conversion fee of 2.75% of the total amount,?
    Yes.

    Withdraw £10 local currency on your debit card and they will charge you £1.50 + 27.5p = 17.75%.

    Withdraw £100 and they will charge £1.50 + £2.75 = 4.25%.

    Withdraw £300 and the charge is £1.50 + £8.25 = 3.25%.

    So if you are keen to use your debit card you should use it for larger value withdrawals. Don't just withdraw €10 a day every day!
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    opinions4u wrote: »

    Based on that, I'd take my foreign currency with me, make sure any additional spending is done on my credit card (not cash advances, purchases only) and keep my debit card safely tucked away in my pocket. Then make sure I clear the credit card balance in full.


    Alternatively take a look at the Nationwide credit card.


    http://www.nationwide.co.uk/creditcard/goldcard/foreigntransactions.htm


    Unless you are more savvy than most, you'll end up paying more to get that foreign currency here - typically 5%* - than you would, using the debit card sensibly

    * yes I know you can get it for less, but 5% plus is typical on the High Street.
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