Pre pay

Robinhood

Hi,

Is it possible to pay money in to a credit card before going on holiday and then withdraw cash with no fee. Trying to find best way of withdrawing cash whilst in NZ. Have Nationwide reward credit card along with nationwide debit card.

Thanks

saskay

No. You cannot do it without paying a fee.

Robinhood

Would the fee be less than if I had not paid in?

Biggles

The fee is 2.5% (£3 min) for a cash withdrawal, plus the 1% foreign exchange charge. And then you will pay interest until the balance is cleared, maybe 2% over a month? They don't seem to preclude preloading your credit card to avoid interest, I have done that in the past with no repercussions.

If you use the debit card, there is a cash advance fee of £1 and the foreign exchange charge is 2%.

Possibly better to make purchases on the credit card and draw cash on the debit card, but not too much in it.

dzug1

Most CCs have a T&C saying though shalt not make payments that put your account into credit. Some of them say what they might do if you ignore the rule - which can include returning the payment, charging interest anyway, freezing the account for misuse, etc. What Nationwide's rule is - no idea.

Having said that, I'd guess that in reality most people get away with it most of the time. ie it's not enforced.