Nationwide for holiday money.

choccyface2006

My partner are going to open a Nationwide current account to put our holiday spending money as its totally free to withdraw from it abroad, unlike both our regular banks.

We checked it was okay to open an account soley for this purpose and was told it was fine.

But, I'm looking for a catch here....Is this the best/cheapest way to be able to access our money while we're away? Is the rate of conversion going to be favourable or are the usual fees for withdrawing the money taken from us with a less favourable exchange rate?

If this is as good as it sounds, why doesn't everyone do it?

Thanks!

Sarah

cullin

It has always been the best on the many occasions we have used it,why does' nt every body, remember if breathing was'nt automatic they would be in an awful lot of trouble.

NafUk

I've done exactly this and get about 1.46 Euros to the pound. I've used it this year in Austria, France and Holland. No catches and no problems. I transfer money over the internet from my regular bank account 3-4 days before I need it.

choccyface2006

Thanks - you've put my mind at rest now!

pin

Yes its the best. Having been using Nationwide for many years, and you can't beat it. Have a look here:http://forums.moneysavingexpert.com/showpost.html?p=2192110&postcount=35

black-saturn

I tried using it in Vietnam 2 years ago and the ATM machines there ask for a 6 digit pin number. I didnt have a clue what the 2 other digits were so I had to get through the whole 3 and a half week trip with only £250 worth of Vietnamese money. Luckily it wasn't difficult as everything there is dirt cheap and I ate like a king, bought every souvenir I wanted, drank like a fish and came home with change but if I had been somewhere else I would have been in trouble.

choccyface2006

Thanks Black Saturn, I guess we will have to make sure we know the Pin, remember that its a 6 digit one & test it before we go.

Sarah

payless

if required, could you not have gone to a bank with passport for an over the counter cash withdrawl ?

black-saturn

payless wrote:

if required, could you not have gone to a bank with passport for an over the counter cash withdrawl ?

Not in Vietnam. I couldnt find a bank branch there!

Sarahjovi

This sounds like a great Idea, but we're travelling next monday (24th July). So the chances of opening an account and getting the card through in time would be quite slim???

Unless anyone knows better!

Sarah:D

Gladiator3544

We have just opened a Nationwide account to use abroad, but the talk of six digits is making me worried. We have a four digit pin with ours, I'd hate to get abroad and not be able to access the money form a cash machine. Can anyone clarify?