Spending in the US - Nationwide Flex or Lloyds TSB visa debit card?

liamb_2

I am leaving for the USA shortly and have both of the above. I am fairly sure that despite a recent introduction of charges, the Flex account is still a better bet. However can someone clarify, please, and also tell me whether there is a difference between the charges you pay for a cash withdrawal from an ATM and a card purchase in a shop/restaurant? I am very confused!

dzug1

The Lloyds card will charge you 2.99% exchange fee PLUS £1 if it's spending or PLUS between £2 and £4.50 if it's cash from an ATM.

The Nationwide will charge you 1% for either with no additions - and the 1% seems to be on hold at the moment.

fifeken

dzug1 wrote: »

The Nationwide will charge you 1% for either with no additions - and the 1% seems to be on hold at the moment.

Yep, just 0.84%. See here for info:
http://forums.moneysavingexpert.com/showthread.html?t=1777037

chun831

I often work abroad (Armed Forces) but just in UK for a short spell. I have just come off the phone from Nationwide and yes the 0.84% is correct now but is due to change.

On 1 July this will increase to 1% across the board for all non-euro transactions on the DEBIT card. The good news is that this is the only charge and inside the Eurozone there is still no charge for cash withdrawals.

IMHO Nationwide for me is still the best way of getting cash when away.

eslick

we always take a few hundred dollars in cash and everything else goes on the credit card to be paid off at home. Have always used a Nationwide card but this year have got a post office one as they dont charge. Getting cash from an ATM always costs you as the cash machines arent free so we find taking cash and using the credit card the cheapest method

the below is the visa tool for calculating the exchange rate, quite useful to see how much you will be charged

http://corporate.visa.com/pd/consumer_services/consumer_ex_rates.jsp

fifeken

chun831 wrote: »

I
On 1 July this will increase to 1% across the board for all non-euro transactions on the DEBIT card. The good news is that this is the only charge and inside the Eurozone there is still no charge for cash withdrawals.

The increase to 1% has been postponed as Visa have decided to postpone their increase which Nationwide now pass on to the customer. NW website has removed the references to this increase.

Encantador

liamb wrote: »

I am leaving for the USA shortly and have both of the above. I am fairly sure that despite a recent introduction of charges, the Flex account is still a better bet. However can someone clarify, please, and also tell me whether there is a difference between the charges you pay for a cash withdrawal from an ATM and a card purchase in a shop/restaurant? I am very confused!

Used a NW Flex card in New York a month ago and each time (different banks), it said ther was a $3 charge, you had the option to accept this or not. I assume if you say no (you don`t accept it), the card would be returned.

Just remembered, I asked about the new charge in my branch a few weeks before going away and was told (he had to go and check), that the charge was only on purchases and that money from cash machines was still free. Just checked my account and it gives the amount in dollars and exchange rate but no mention of anything added, so unless it is tied up somewhere in the exchange rate they use....... so as far as I can `see` the only cost was the $3 per transaction.

fifeken

Encantador, Can you do the sums on the exchange rate and the amount withdrawn/debited from your account for a transaction to see if they exactly match? The reason I ask is that I read on another thread that the exchange rate is no longer beng printed on statements and the 0.84% charge is being "hidden". It would be good to know for sure.

Encantador

fifeken wrote: »

Encantador, Can you do the sums on the exchange rate and the amount withdrawn/debited from your account for a transaction to see if they exactly match? The reason I ask is that I read on another thread that the exchange rate is no longer beng printed on statements and the 0.84% charge is being "hidden". It would be good to know for sure.

Did that and yes it matched the £ amount exactly.

luci

I've had US$ transactions on my Nationwide credit card in the last couple of days and the rate is still showing on the statement. Don't know about the FlexAccount statement for cash withdrawals though.

Encantador

luci wrote: »

I've had US$ transactions on my Nationwide credit card in the last couple of days and the rate is still showing on the statement. Don't know about the FlexAccount statement for cash withdrawals though.

Also shown on statement.