Natwest exchange fees

Bosco75

Hi,

I've recently been overseas and used my debit card at an ATM to get some euros. I just checked my Natwest bank statement and was shocked to see that 2 charges per transaction have been taken from my account - an ERTF fee as well as a bank charge of £3.50:mad: How can they get away with this daylight robbery of charging people ridiculous fees to get access to their own money??

Louisdf

did you get money from a UK Foreign exchange ATM or an ATM in Europe? When I took money out of an Italian ATM I only got charged 2 euros. Are you sure that 3.50 euro fee was not levied by the cash machine operator?

pompeyrich

Bosco75 wrote: »

Hi,

I've recently been overseas and used my debit card at an ATM to get some euros. I just checked my Natwest bank statement and was shocked to see that 2 charges per transaction have been taken from my account - an ERTF fee as well as a bank charge of £3.50:mad: How can they get away with this daylight robbery of charging people ridiculous fees to get access to their own money??

Whilst the fees seem excessive, the exchange rate is usually better, in your favour and if you divide the total amount of Euros taken out by the total fee charged, in sterling, you will see the rate is comparable and usually better than the rate you could get from a high street outlet back here.

Obviously if you draw out lots of small amounts the fee will hurt but it barely impacts on a 2 or 300 Euro withdrawal, ok 1.5% but for the convenience a small price to pay in my opinion.