Cheapest way to spend overseas discussion

Chadsman

I *think* the NW InvestDirect card can only be used in NW cashmachines. It cant be used as a payment card to pay for something in the shops.

dickdasdedly

I want to open a nationwide flex acc just to use there debit card abroad. Dose anybody know if i can open one without having to pay in my salary. As martin say its not one of the best. Also being forwarned about some retailers converting your transation to sterling at point of sale & not giving you a choice, if this is done can you demand to pay in euros.(diplomatically of course)on the card or in cash. As an after thought (ive never done it before so im just checking) you can use a debit card in the EU the same as you can in the UK or do i need the credit card. Thanks for any advise. Richard

pin

No need to have your salary being paid into the Flex Account, I used to use it exclusively for travelling only. However I now use it as my main account.

While it is not the best current account, I think it is very good (aside from the travel benefits) because of the following:
- Online banking is pretty good
- If you pay in over £1,000 a month interest on the current account is 3% (not sure on the exact figures BTW)
- Esavings has a pretty good interest rate of 5% and you can shift money between your current account and esavings instantly.

Re debit cards in Europe (and also other parts of the world), used them without any problems (however do prefer to pay by credit card).

grumbler

dickdasdedly wrote:

...Also being forwarned about some retailers converting your transation to sterling at point of sale & not giving you a choice, if this is done can you demand to pay in euros.(diplomatically of course)on the card or in cash.

You can always demand to pay in euros by card. Sometimes, I guess, without success. However, you can always withdraw cash (euros) and pay cash if they refuse to make card transaction in euros.

Lynas_3

My first posting so apologies if I am doing so in the wrong thread.
My daughter who is a student is off to Australia at the end of June, she is unable to apply for the cards Martin recommends but has seen an advert for the American Express travel card whereby she loads the card with up to £3k (Min £200) and uses this to draw money from ATM paying £1.50 per withdrawal. This card can also be used to make purchases providing she has a credit on it and she can top up on line as required. This card also has a few extras such as free assistance in the event of her losing her passport and if the card is lost or stolen she can get a replacement from the local AMEX people. Any thoughts on this system? Looks fairly straightforward to me as I wiill be able to top up her card on line from the UK and it appears to be very secure. Any comments/advice would be appreciated.

grumbler

Lynas wrote:

My daughter who is a student is off to Australia at the end of June, she is unable to apply for the cards Martin recommends but has seen an advert for the American Express travel card ...

'Amex Travellers Cheque Card ' thread...
Why cannot your daughter apply for a Nationwide account with a basic cash card? For withdrawals there is no difference between their debit card and cash card.

trendymom

Hi folks

I'll be heading off to France within the next 3 weeks for the annual summer holidays.
Where's the best deal at the moment to get Euro (anybody offering commission free? Will I be charged for using my A&L debit card? Can't find anything on their website.

Thanks in advance for any suggestions.

grumbler

trendymom wrote:

I'll be heading off to France within the next 3 weeks for the annual summer holidays.
Where's the best deal at the moment to get Euro (anybody offering commission free? Will I be charged for using my A&L debit card? Can't find anything on their website.

A&L:
Cash withdrawals in the UK
All cash withdrawals from Alliance & Leicester cash machines are free. You will pay a charge of 1.5% (minimum charge £1.50) of any cash withdrawal obtained by the use of the Debit card at any Visa ATM which is not part of the Link Network, or at any financial organisation which accepts the Visa card. The charge may also apply to the purchase of foreign currency or travellers cheques at any outlet that provides foreign currency.

Card transactions abroad
Card transactions made abroad are subject to a conversion fee of 2.75% of the sterling value of the transaction.

You will pay 2.75% for purchases plus extra 1.5%(min £1.50) for withdrawals ...
You still have time to try getting Nationwide debit or cash card.

Wando

I am going abroad for 6 months and ned excess to my money.
I was looking at the HSBC -Bank account Plus. For £9.99 per month you get worldwide travel insurance and free cash withdrawals around the world as well as other benefits. What do other people think about this service.

grumbler

Wando wrote:

I am going abroad for 6 months and ned excess to my money.
I was looking at the HSBC -Bank account Plus. For £9.99 per month you get worldwide travel insurance and free cash withdrawals around the world as well as other benefits. What do other people think about this service.

1. Worldwide travel insurance costs less than £120.
2. Their insurance is only for 'holidays or business trips up to 31 days in duration; winter sports holidays up to a total of 21 days a year'
3. I cannot find anything about 'free cash withdrawals around the world '. However, I found this:
More information on Bank Account Plus:
'* There is a handling fee of 1.5% (minimum £1.75) for withdrawing cash at Cirrus/Maestro cash machines overseas. Foreign exchange rates are shown on your statement against each transaction inclusive of an exchange rate adjustment, currently 2.75%.'
4. Nationwide do offer free cash withdrawals and no currency exchange fee on purchases with its debit card. And this is free - not for £120 p.a.

'The cheapest way to spend overseas: save 6% ' article. This thread is a disscussion of this article.