Santander Zero ( debit card)

ewath

[FONT=&quot]Something I dont understand ..all the charges (exchange load, ATM charge, spending charge and cash withdrawal interest are 0%) so
why it is cheaper to spend on the card than withdraw cash ???[/FONT]
Anyone knows ?


Facts: Exchange Load 0%
ATM Charge 0%
Spending Charge None
Cash withdrawal interest 0%

[FONT=&quot] "Key Info: [/FONT][FONT=&quot]One of the best cards for spending overseas - You get perfect exchange rates. It's far cheaper to spend on the card than withdraw cash.[/FONT]"

dzug1

There may be some confusion between the credit card (which is certainly not 0% interest on cash withdrawals) and the debit card (which is if you don't go OD)

travellerboy

Like the Saga Patinium card the Santander Zero card is free of all charges when used abroad. The only time you are charged is when you get a cash advance, which is fair when you think about it, and that works out at 0.8p /day per £100 withdrawn until you repay.

It is definately cheaper than getting foreign cash at the PO or others (on-line) before you leave. The exchange rate used for the ATM Card transaction is the Visa Rate for the day, which is the highest of all, about 4% better than anywhere else.

ferf1223

travellerboy wrote: »

the Santander Zero card is free of all charges when used abroad. The only time you are charged is when you get a cash advance

on the CC...debit card is your money, no cash advance fee...the OP is asking about the debit card...same value transaction, same time - should be the same regardless whether it is an ATM withdrawal or purchase with a merchant.

The only other thing I can think is local ATM fees - which you would not have if making a purchase...so I suppose in that way, using an ATM would be more expensive (where you can't find an ATM without a fee) than making a purchase for the same amount.

daveyjp

Use a Santander card in a non Santander machine abroad and it may attract a fee from the bank which operates the ATM. We used Santander in Spain and the exchange rate was 1.16 at a time when PO gave 1.11 and no withdrawal fees.

travellerboy

Santander Zero Card is a CREDIT card not a Debit Card.

daveyjp

WRONG! Santander Zero is a current account with a debit card.

http://products.santander.co.uk/bankaccounts/zerocurrentaccount.html

flyingfred

I've used a Santander Zero credit card since it was first issued and you can avoid just about all charges for withdrawing cash abroad if you pre-load it like a pre paid debit card before you go away. I have done this 6 times this year.

ferf1223

the OP has asked about the debit card, not the credit card.

But the CC T&Cs prohibit pre-loading...I know some have done it and been OK, but could be an issue so anyone opting to try it should be aware that there is some risk in doing so even though others have had no problems.

travellerboy

Santander have managed to confuse people again. They originally issued a CREDIT card intended primarily for overseas use and called it Zero. They have recently started a New current account with the same name and the debit card issued with that account is called a ZERO card.

I also notice that they have now withdrawn or limited the ZERO CREDIT card from many future applicants. ( Saga Platiniun is better anyway)

Oh, Santander, why do you always try to confuse people ????

ferf1223

not sure about recently...we have had our Zero current account for almost a year...has been available for mortgage holders and those with other investments with them I think for some time.