Using Cards Abroad/bank accounts

borobabe88

Hi there

Im new to this and just thought this looked the best place to ask this question..

But does anyone know any bank account/card that you can use abroad that does not cost to do this?
I work abroad for 6months at a time and so this is costing me a fortune!
I have a nationwide account which didnt used to charge me but couldnt use it as a debit card and now they charge me. So iv been using my lloyds account which is a debit card and it costs me between £1-£4 every time i use it.
Any help would be much appreciated!
Thanks all!!


Gem:)

nancyo

If you use your card in a shop, chip n pin I think it only takes off what the item costs- although, it depends on what exchange rate your bank is offering at the time.
I think it costs every time you withdraw at the cash machine, depends what country you are in...

borobabe88

Hi
i work for a cruise ship and so am in a different country every day!
My current bank account is £2-£4 every time i withdraw from cash machine, depending on how much i withdraw and £1-£2 for every chip and pin purchurse. It just all adds up over the 6months just wondered if there was an account that did charge .. like my nationwide one before the last few months!
Thanks!

Marksfish

I have just applied for a Halifax Clarity card which offers free overseas transactions. Norwich & Peterborough Building Society are also going to be offering a overseas fee free debit card/ credit card from January 2011 I believe.

Mark

borobabe88

aww brilliant thanks
i will look into them two and see what happens

dzug1

Metro bank also give fee/charge free transactions - but you have to visit a branch to open an account.All are in the London area at themoment.

Lloyds will be charging you more than Nationwide

specks

Nationwide charge now but they are still by far the cheapest bank on the high street. I think its only one pound per withdrawal but you just have to remember not to take small amounts of cash out at a time. So dont take 20€ out each time otherwise it'll slowly start eating away at your balance but instead take out 150€ or so and then let it last you.
Alternatively, if you are going to be in a country for an extended amount of time then you could look into gettinga bank account overseas. Worth it, if its going to save you a lot of money.

Roger1

Sorry, specks, that's quite wrong.

For ATM withdrawals with their debit card, Nationwide do charge £1 - plus 2% of the transaction! That's expensive, though not so expensive as some others.

Nationwide credit card transactions incur 0% loading in Europe and 1% outside Europe, but not for cash which is more expensive because they add a 2.5% cash advance fee (min £3) and charge interest.

Much more info at http://www.nationwide.co.uk/search/DisplayArticle.aspx?article=1259

lisyloo

I have just applied for a Halifax Clarity card which offers free overseas transactions.

There is no currency commission.
But if you withdraw cash on your credit card, then it's typically 12.9% interest (per annum) which starts immediately.
You can pay it off ASAP if you have internet banking so you only pay a few days of interest but you cannot preload your card.

chattychappy

I use Santander Zero (credit card) for cash overseas. No ATM fee, No forex loading, no cash advance fee. They just charge interest from the date of transaction - but this is minimal if you pay off within a few days. (If you leave it about a week it will cost about 0.5%, ie 50p on £100.)

lisyloo

I use Santander Zero (credit card) for cash overseas. No ATM fee, No forex loading, no cash advance fee. They just charge interest from the date of transaction - but this is minimal if you pay off within a few days. (If you leave it about a week it will cost about 0.5%, ie 50p on £100.)

So pretty much the same as Halifax Clarity then but about twice the interest?