International ATM withdrawal

superstar_2

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

td_007

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

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

what's a currency conversion fee of 2.75% of the total amount,?

opinions4u

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

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.