Santander Zero - very high interest on "free" cash withdrawalssh

gabbai_2

A word of warning about the Santander Zero credit card overseas. Yes it does offer fee free cash withdrawals in Europe with no exchange rate loading BUT their repayment credit structure places cash transactions at the bottom of the list. I was away this week and withdrew cash using the card principally as the most secure way to get cash but also the cheapest, so I thought. While away I called Santander to ask for their account details to do an Internet transfer for the sterling amount withdrawn assuming I would that way avoid the interest charge. No way! The only way to avoid the interest charge on the cash advance would be to pay off the total amount then debited to the card. Beware, Santander's terms are good but nothing like as good and cheap as they make out. I have no problem with their charging interest on cash withdrawals, after all it is a loan, but if you repay the money then stop charging the interest:T.