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How does Nationwide foreign exchange rate compare?

2

Comments

  • fishngwild
    fishngwild Posts: 2 Newbie
    I'm going to Crete and have had a nationwide flex account for years which I rarely use but have a current visa debit card. I was going to load it up and use the card to withdraw euros when there, although I'm not sure how it all works. My husband was told it had to be my main account where my wages went into. Does this stand for existing accounts which have been open for years and can anyone tell me if it is simple enough to use the card abroad?
  • Baldur
    Baldur Posts: 6,565 Forumite
    fishngwild wrote: »
    My husband was told it had to be my main account where my wages went into. Does this stand for existing accounts which have been open for years
    No - I only load mine up when I need to withdraw cash from foreign ATMs.
    and can anyone tell me if it is simple enough to use the card abroad?
    I've used mine in Dubai a number of times and Bulgaria very frequently over the years, with no problems at all - most ATMs offer a choice of languages in which to conduct transactions.
  • THENOX
    THENOX Posts: 118 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    abacab wrote: »
    The Nationwide flex account CASH CARD has no loading outside of the eu at present.
    As it is a cirrus network card it uses mastercard rates instead of Visa,but shouldnt be a whole lot different.

    Hello,

    I just found a FlexAccount with Nationwide for the purpose of spending money abroad but for no reason got punished :mad: with CashCard for a start :o. This card is operated by MasterCard via Cirrus system.

    I already found out that this card is except from fees but would anyone be able to tell me what exchange rates it will use and how they exactly compare to Visa rates? :confused: I can't find MasterCard/Cirrus exchange rates on their website so would appreciate the link. :T

    THX,

    THE NOX
    Kill the Deal...
  • Baldur
    Baldur Posts: 6,565 Forumite
    THENOX wrote: »
    I can't find MasterCard/Cirrus exchange rates on their website so would appreciate the link.
    As far as I'm aware, they don't publish their rates, unlike Visa.
  • THENOX
    THENOX Posts: 118 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    Baldur wrote: »
    As far as I'm aware, they don't publish their rates, unlike Visa.

    I know that this might be a difficulyt one but then: does anyone know from practice (their transactions compared) how the two rates compere?
    Aussie Dollar...
  • Voyager2002
    Voyager2002 Posts: 16,349 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    fishngwild wrote: »
    I'm going to Crete and have had a nationwide flex account for years which I rarely use but have a current visa debit card. I was going to load it up and use the card to withdraw euros when there, although I'm not sure how it all works. My husband was told it had to be my main account where my wages went into. Does this stand for existing accounts which have been open for years and can anyone tell me if it is simple enough to use the card abroad?

    Yes, it is all very simple. I assume that when you say "load it up" you mean you are planning to put some money (pounds) into the account.
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    THENOX wrote: »
    I know that this might be a difficulyt one but then: does anyone know from practice (their transactions compared) how the two rates compere?
    Aussie Dollar...

    They are near enough identical
  • dzug1
    dzug1 Posts: 13,535 Forumite
    10,000 Posts Combo Breaker
    fishngwild wrote: »
    I'm going to Crete and have had a nationwide flex account for years which I rarely use but have a current visa debit card. I was going to load it up and use the card to withdraw euros when there, although I'm not sure how it all works. My husband was told it had to be my main account where my wages went into. Does this stand for existing accounts which have been open for years and can anyone tell me if it is simple enough to use the card abroad?

    If you want a NEW flex account it has to be your main account with wages going in.

    If you have an existing flex account then no problem - carry on using it

    It's as simple to use the card abroad as here. The only point to watch out for is if the machine asks you if you want to be charged in pounds, say no. Opt for euros.
  • THENOX
    THENOX Posts: 118 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    dzug1 wrote: »
    They are near enough identical


    Could you tell on what you base your opinion (link reference, experience)?

    Thanks
  • Inactive
    Inactive Posts: 14,509 Forumite
    dzug1 wrote: »
    If you want a NEW flex account it has to be your main account with wages going in.

    If you have an existing flex account then no problem - carry on using it

    It's as simple to use the card abroad as here. The only point to watch out for is if the machine asks you if you want to be charged in pounds, say no. Opt for euros.

    Or I believe you can open one if you have a Nationwide savings account with £2000 invested, and still not use it as your main current account.
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