How does Nationwide foreign exchange rate compare?

pineapple123

I always use my Nationwide Flex account card when travelling.
Recently back from states bought $ here before travel (beg sep) $163.3 and used ATM's (suntrust - no fee) and recieved $1.636 in states.
Nationwide charge 0.85% for using card outside europe but cant see this on recent statement.
No problems using ATM's or purchases (with ID).

Have also used in europe, no problems and no fees, 'fill up' card before you go as you dont get any interest on account.

Very useful to have extra card with you.
Not sure if its better value than using other visa cards because of exchange rates, depends on amount and number of transactions you get charged for.

fishngwild

Voyager2002 wrote: »

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.

Yes, I do mean with pounds. Could you please inform me if there is anything I should or shouldn't do at the ATM with regard to currency exchange whilst abroad?

Baldur

pineapple123 wrote: »

Nationwide charge 0.85% for using card outside europe but cant see this on recent statement.

The proposed increase to 1% which was deferred from 1st July 2009 is now in force. See http://www.nationwide.co.uk/current_account/foreigntransactions.htm

knowlesybhoy67

I am going round the world visiting Hawaii, New Zealand, Australia and Thailand in Nov and are looking for the cheapest way to withdraw funds while away?

I have enquired about the Nationwide Flex account but was told that i would need to have my wage or pension going into the account before it could be used. This is a major pain with only 6 weeks before i leave.

Is this true? If so, is there any way round about it or other cards that would offer a similar service?

My bank have said they will charge 2.75% intrest rate and £1.50 charge for transactions.:mad:

Baldur

knowlesybhoy67 wrote: »

I have enquired about the Nationwide Flex account but was told that i would need to have my wage or pension going into the account before it could be used. This is a major pain with only 6 weeks before i leave.

Is this true? If so, is there any way round about it or other cards that would offer a similar service?

Their Cash Card account has no such stipulation and, because the card is operated under the Mastercard/Maestro/Cirrus network, it has no fees for overseas ATM cash withdrawals at present - http://www.nationwide.co.uk/current_account/foreigntransactions.htm#q3

• I have a Cash Card Account that I use to withdraw cash when I'm on holiday. Will I be charged?
  No. Initially, only Visa debit card transactions will have a fee applied. Your cash card is run by a different provider and is only available for withdrawing cash (it does not have facilities to make purchases online or at retailers). Our Cash Card Account is our Basic Bank Account and is available/suitable for customers who meet the Basic Bank Account criteria.