Santander Zero vs Halifax Clarity

Biggles

Heng_Leng wrote: »

One thing to remember - whilst Halifax Clarity has a lower APR for cash withdrawals, they currently don't accept Faster Payments, so payments will take 2/3 days to arrive

But I assume you can make an instant payment online via debit card.

eagleeye

it is hard to predict the rates.I don't know whether they apply exchange rates for the day we used or day after.Although both cards were used on the same day and in the same shop , halifax rates were best.I have checked the mastercard rate by using the link posted by heng leng .The mastercard rate is exactly similar to the rate given by halifax.In past i used the nationwide cash card (mastero) with 1 % charge and it's rate were better than santander which claims to charge 0% on foreign transactions.click here for more information on the exchange rates posted while ago.

eagleeye

Toe-Jam wrote: »

This is not an accurate way of determining the exchange rate, the exchange rate changes every second of every day. It could have gone up or down 10 points by the time I finish writing this. And the exchange rate you see on your statement is not the exchange rate at the time you used your card, it is the exchange rate when the transaction is posted to your account, which is usually the next day, or sometimes even longer.

Here is the small print, and its the same for all organisations, credit or debit.

Santander Credit Card
3.2 All Transactions in currencies other than sterling will be converted into sterling on the day they are added to your Account at an exchange rate set by the payment scheme provider. The exchange rate used may differ from the rate when the Transaction was made as exchange rates vary on a daily basis. The exchange rate used when such Transactions are made and the amount of the Transactions in sterling following application of the exchange rate will be set out in your Statement. Details of the exchange rates to be applied are available at 0845 602 1582.

I don't know about the credit card but with debit cards the exchange rate is instant as the atm machines does print out the remaining balance (in foreign currency) left in the UK bank account.I have never used the credit card to withdraw the cash, so can't confirm the instant exchange rate information.

System

Biggles wrote: »

But I assume you can make an instant payment online via debit card.

Apparently not

...Please be aware that you should allow up to 3 working days for payment to reach us after we receive your request.

Welcome to the Online Payment System, which is certified and supported by WorldPay. The next page allows you to make a payment to your credit card account using a Switch or Visa Delta debit Card...

Highland_Lass_2

Going off to Gran Canaria in 2 weeks and totally confused about what form of money to take with us. Should I go for Clarity, Santander, use my debit card or just take travellers cheques? Not been abroad in quite a few years so bit out of touch. Thanks.

INT1

Take 100 euro's out and then put the rest on your ZERO card. Always pay in local currency too.

hgm

You have to watch the shops very carefully in Gran Canaria. They frequently try and charge in pounds and not euros and not tell you. They hand the credit card machine to you after having made the selection. This year a perfume shop insisted it was in euros but I was charged in pounds with the commission charge. They get you to sign the credit card slip to say you can't change your mind and that you have accepted the transaction but it's already too late. I had major rows in 2 or 3 shops about it. The machines ask for the choice between pounds and euros but the assistant doesn't always give you the opportunity to make the choice.

hansi

daz9643 wrote: »

Can anyone tell me why Martins latest e-mail has the new Halifax Clarity Card as the best for using overseas. Martin goes on to say that if you already have the Santander zero card its almost as good. So what are the differences between the 2 cards and does anyone know if both cards use the exchange rate set by Visa/Mastercard or if they set their own rate as Tesco Bank do.

To put it bluntly Santander are ***p, whilst Halifax are not. Read some of the other posts about Santander service, and I use the word "service" very loosely!

pubwebmaster

I'm off to Australia shortly so, following Martin's recommendation, I applied for a Halifax Clarity Credit Card. I spoke to the call centre to activate the card and (in addition to the attempted sale of Payment Protection Insurance), I was told, over the creche-like background noise, that there was no grace period on purchases, i.e. that purchases attract interest from day 1.

Needless to say, I cancelled the agreement there and then.

It turns out that this statement was untrue. From the website:

"No interest will be charged on purchases if every statement balance is paid in full by the payment date"

I've just cut up a perfectly good card.

Perhaps reconsider using Halifax if their staff are of such low calibre.

chattychappy

Trouble is, the rules are so complicated....

Purchase interest is calculated from the date of the transaction, but then not applied if the balance if paid off in full by the due date. So even if the balance is paid one day late, or £1 short, then interest will run from the date of the transaction.

Most people would think that interest runs from the statement date or the due date. Hence the comments from people are "shocked" that they have such a big interest bill on an apparently small balance.

So I don't really think there is a "grace" period - that suggests to me a period an interest free period. The reality is that there is no such period, unless you pay off in full.