Natwest Visa Debit - New charges warning

Leigh-Anne_60

Hiya

Just a warning for any of you that have been switched to the new Natwest Visa debit card!!

I purchased some currency from Ice PLC early this month using my debit & was charged £4.50 cash advance fee!!

Initially Natwest said it was the retailer, as entered on my statement as the 1 transaction. However on calling ICE they said they have been having lots of probs with RBS/Natwest cards incurring these fees and referred me to the news charges leaflet which is provided with the new cards (http://www.natwest.com/downloads/global_options/Guide_Fees_Interest.pdf page 62)

Now i fully understand that if i made the purchase on my CC i would be charged a cash advance fee - But a fee to use my own money..... Cheeky !!!!!!s!!

Anyway i have complained & they have refused to budge, but will go through their complaints procedure. And i will be moving my accounts away as a matter of principle (after 20 yrs being a customer)............Any recommendations for new current accounts with decent cashback?

LA

battyboimatt

Most banks do charge a fee for buying currancy on visa debit cards, I have always been charged for buying money on my banks visa debit card

Rao_Vantika

Leigh-Anne_60 wrote: »

Hiya

Just a warning for any of you that have been switched to the new Natwest Visa debit card!!

I purchased some currency from Ice PLC early this month using my debit & was charged £4.50 cash advance fee!!

Same here.

Not had my Royal Bank of Scotland a/c long and recently like you, applied for a Currency card. Mine was from Travelex though.

I loaded my card with £100 sterling, and Travelex advised that they would charge £2.00 commission, fair enough. But RBS have charged another £2.00 Cash advance fee :eek:

Must admit I didn't realise they did this on Debit Cards, one to watch out for!

p.s. Didn't realise you bought currency, thought it was a currency card as I know ICE do one. I should have read your post proply!

Spooneroonie

Was it 'cash advance' fee, which I agree sounds a bit weird for a debit card, or was it a fee for withdrawing foreign currency, which i thought all cards incurred?

Rao_Vantika

Spooneroonie wrote: »

Was it 'cash advance' fee, which I agree sounds a bit weird for a debit card, or was it a fee for withdrawing foreign currency, which i thought all cards incurred?

It was certainly a 'cash advance' fee in my case, here's how it was presented on my on-line statement:-

"20Apr2010 POS xxxx 19APR10 , TRAVELEX CASH , PASSPORT , PETERBOROUGH GB , CASH ADVANCE , CHARGE 2.00 - 104.00 "

The transaction amount was £102.00 before RBS added their charge on.

Leigh-Anne_60

Yes thats how it appeared on my statement!

The thing is, i have made 'currency' purchases before using my maestro debit, which attracted no charges. Then bank then decides to switch me to VISA debit (i had no say in the matter) and sneakily slips in these new charges. Totally underhand imho.

Whilst this will only affect me maybe 2/3/4 times per year(as use my Nationwide card whilst abroad), as a matter of principle Natwest can go jump!!

stclair

Youll get that fee if you pay with any visa debit card !!!

elvis86

So, to clarify. If I pay for my holiday currency at the Post Office with my new Natwest Visa Debit card, I get charged because they somehow know that the transaction is currency purchase despite me using the same chip&pin machine as I would use to buy anything else?

So its better to withdraw the cash and exchange that for euros?

jrrowleyws

Yeah. The PO always advised me to draw out cash first and then convert to euros. Conveniently they can draw cash over the counter (like an ATM), keep it and then convert to euros -stupid really.

I've bought currency on my Nationwide visa debit before and not had any advance fees, must be Natwest trying to buy themselves back from the government.

daveyjp

Our M&S have a cashpoint in store so you can withdraw the cash and avoid the charge.

elvis86

How bloody stupid. At the end of the day, you're making a purchase, you are buying X amount of euros from the Post Office or whoever, for a price of X amount of pounds.

And even if you count it as a "cash withdrawal", its a DEBIT card !!!!!!!

Outrageous, but glad I saw this as I'll be needing holiday money soon!:D