Drawing Money Abroad

pondgate

Now that Nationwide have decided to charge for withdrawals in Europe does anyone know of a good alternative I spend 6 months abroad and have rent to draw out as well as spends so the Halifax Credit card alternative is not good. I am looking at a LLOYDS TSB Euro account but this has a withdrawal charge and you need to keep £2.500 in a/c at all times or be charged £20 per month is there anything better out there ?

hopefulfooluk

I have a Cashplus Euro prepaid mastercard which is great for this purpose - you have to have one of their normal prepaid mastercards to qualify for one (which is £5 a month) but all purchase transactions and cash withdrawals in euro are completely free.

The exchange rate seems pretty up there too so they don't sting you that way either.

http://www.mycashplus.co.uk/cashplus-extras/euro-card.aspx

Bear in mind though that the Euro card isn't protected by the FSCS so if they folded, you might lose your cash - they do warn you in the T&C's that this is the case though, so you can make your own decision.

dzug1

hopefulfooluk wrote: »

The exchange rate seems pretty up there too so they don't sting you that way either.

2.99% fee isn't THAT good. You can easily better it, though true you can do worse.

hopefulfooluk

dzug1 wrote: »

2.99% fee isn't THAT good. You can easily better it, though true you can do worse.

2.99% fee for what?

chattychappy

Santander ZERO (credit card).

Use for ATM withdrawals only (put purchases elsewhere). No fee/forex loading, but interest from the date of withdrawal. So after a withdrawal simply log on, see the sterling equivalent and pay using internet banking. Even if you delay a week, the cost will only be about 0.5% (because of the interest).

I've seen a poster say he avoids the interest charge by pre-loading. I wouldn't recommend this as it's against the T+Cs.

Note: credit rating nerds might be concerned that cash advances could be seen as detrimental. Never caused me a problem! (I think)

lisyloo

What's wrong with the Halifax Clarity credit card?

chattychappy

Also Metrobank in London if the OP can get there to open an account. But it's all rather new at this stage.

KonkyWonky

lisyloo wrote: »

What's wrong with the Halifax Clarity credit card?

Halifax Clarity gets my vote as well.

No fee for withdrawing cash from an ATM whether in UK or abroad. Like all credit cards interest is payable immediately on cash withdrawls but if you pay the balance off the same day you withdraw the money via digital banking you should only be charged 3 or 4 days interest max.

Works out at approx £0.28 interest (12.9% APR) on a £200 withdrawl provided your payment clears within 4 days.

Flux117

Seems you are in a similar situation to me. I got some good replies to my question. You should find by clicking on my username under 'Short stay abroad banking advice'. Sorry can't post a link here.

dzug1

hopefulfooluk wrote: »

2.99% fee for what?

Changing from one currency for another

lisyloo

I can't find it on that card. It says "no commisions"

Can you give a link to a web page or give us pointers to where it is.
I'm confused.