Travel Money - Cash Withdrawel Worldwide

Sonay

I have just come home from far away travels. Prior to travelling I took the HALIFAX Clarity card with me, also my Nationwide Flexaccount card.

At the ATM, I made two withdrawels in one day equating in total to £400. The transcation with the Clarity card showed an exchange rate (ER) of 44.5 Thai bahts to the Pound, my Nationwide statement on my return showed a (ER) of 47.2 Thai bahts to the Pound, so although MSE reccommended the Clarity for cash withdrawels, it seems MASTERCARD must be taking a percentage of each transaction. Thus making the Superior CLARITY card, INFERIOR.

Has anyone else noticed this anomaly???

chattychappy

Very interesting, thanks for posting that.

I'm in Asia alot of the time but don't use Clarity. Certainly I've found that NW are loading relative to Santander Zero and Post Office (which are Mastercard) and the figures "fit" but only if I average a number of transactions. I've noticed that sometimes transactions are just processed on different dates and this can explain variation.

But the variation you're showing is whopping - assuming it was before NW's recent change, the Flexaccount card should have been 1% inferior.

Anyone else done some tests?

Sonay

These transactions were both on the same day and at the same ATM (had to pay cash for hotel), also after Nationwide 1Nov BIG HIKE in charges.

I know I will be shredding my CLARITY card before my spring asian venture.

chattychappy

Sure, but it's not always the case that a transaction is processed on the day you carried it out. Typically it would be if it was an ATM withdrawal.

Sometimes statements show both dates.

I've found that there can be a delay of 2 or 3 days for PDQ/ATM withdrawals. The record was 3 weeks (though that was in imprinter).

callum9999

Sonay wrote: »

These transactions were both on the same day and at the same ATM (had to pay cash for hotel), also after Nationwide 1Nov BIG HIKE in charges.

I know I will be shredding my CLARITY card before my spring asian venture.

If I look on my credit card statement from UK spending, the recorded date rarely matches up with the transaction date. Add in the extra hassle of international transactions and I'm not surprised there can be big variations.

Sonay

Dear All

Thanks for all your recent responces, I think you may not be quite understand the reasoning behind my post. The exchange rate between the Thai Baht and Pound Sterling over the recent period has not varied at all. But the variance between two different cards (Clarity & Nationwide) was 6% used on the same transaction day.

nzseries1

I wouldn't want the exchange rate to depend on when Halifax decide to process the transaction. I want the exchange rate to be the one that applies at that exact second that I withdraw the money. Otherwise, Halifax may start delaying my transactions until it has a favourable exchange rate and... well, that just wouldn't be very good, would it! Thanks OP.

chattychappy

nzseries1 wrote: »

I wouldn't want the exchange rate to depend on when Halifax decide to process the transaction. I want the exchange rate to be the one that applies at that exact second that I withdraw the money. Otherwise, Halifax may start delaying my transactions until it has a favourable exchange rate and... well, that just wouldn't be very good, would it! Thanks OP.

I think they all work like that - its a feature of the networks. I don't think there is any real power to delay - it just depends when something reaches the bank for settlement.

Party_Animal

I called into my local Halifax and applied for a Clarity card. The card's arrived. However, it doesn't say "Clarity" on it, just Mastercard. I only want to use the card to draw cash abroad and I'm off very shortly. Have I been sent the wrong card?
Thanks

jennifernil

No, it does not say Clarity on it, but it does say Mastercard, just looked at ours!

Party_Animal

Thanks, so it is the right card. Can anyone advise the best way to avoid or minimise interest. I'll be taking my NW card too. I'm away almost 4 weeks so if I do use the Clarity card I'll be acrruing interest and the statement may come whilst I'm away. I wasn't planning to take my laptop. Can I set up online payments before I go so that if I know I'm going to withdraw £500, for instance, on the 31st, a payment for that amount is sent that day?
Thanks