Nationwide of Halifax Clarity for overseas cash withdrawels

FreeD

Hi all,

I'm going abroad on Sat to Europe. I've been an Nationwide current account holder for about 10 years but now I believe I will be charged for overseas transactions/cash withdrawals.

I will mostly be withdrawing cash when I need it, is it worth getting a Halifax clarity card would this be cheaper than Nationwide? I don't understand this 12.9% interest charge on cash withdrawals even if paid off is that over a year or on each transaction?

Cheers

crispy_chris

The 12.9% is per year (the A in APR meaning Annual). If you take €10 out of an ATM abroad and didn't pay it off for a year, you would pay €1.29 interest over the course of the year.

So you are basically paying ~1.1% interest on it every month.
Assuming you pay it off 2 weeks after withdrawing it for example, you would only pay ~0.5% interest, which works out as about 50p per £100 you withdraw.

Basically its far less than you would pay using most other methods.

KTF

If you are going abroad on Saturday then its too late to get the Clarity card now but it is the current 'favourite' now that Nationwide changed their charges.