Need your help! Best debit card to use overseas??????

Chadsman

Cumberland Building Society also do not charge a foreign exchange fee... but you need to live in either northwest England or southwest Scotland to open an account with them.

http://www.cumberland.co.uk/current-accounts

RetiredInThailand

barak wrote: »

Maybe sometimes, but on this occasion iblametheparents seems [above] to have endorsed what was said, which will be helpful to MichaelTA.

The "experts" said that N&P had the only card with no overseas usage fees/weighting. I think that's wrong.

barak

RetiredInThailand wrote: »

The "experts" said that N&P had the only card with no overseas usage fees/weighting. I think that's wrong.

It may be wrong - I don't know - but this is a forum where you can help others. Perhaps you can help MichaelTA and others by telling us about any other debit card that might be of use.

GooliesOfFire

I travel quite a lot. Last weekend I applied for N&P Gold Classic current account, I'm just waiting for something to sign. I'll be probably happy to stop using Lloyds TSB classic which gives me nothing anyway.

How long is the process to open N&P account?
I'd like to get the Visa card before 15 April as I'll be in Korea for next 3 weeks after that date. So I hope the time is not against me, still about 20 days to go.

RetiredInThailand

barak wrote: »

It may be wrong - I don't know - but this is a forum where you can help others. Perhaps you can help MichaelTA and others by telling us about any other debit card that might be of use.

My pleasure. Metrobank, Halifax, Santander, Saga and the Post Office all do one though the Halifax and Santander ones may no longer be available for new applications.

Moneybox mentioned none of those.

There are a few credit cards also that have no weighting.

barak

RetiredInThailand - Thanks for returning to this.

I've only had a quick look and you are certainly correct about Metro Bank's debit card, but I couldn't find evidence of any of the others having debit or cash cards without any fee for withdrawing cash abroad. Perhaps you can?

Anyway, Metro Bank makes it one more than was mentioned on Moneybox Live!

An article from "This is Money" [admittedly nearly a year old] suggested that there were then only two -

Debit cards

Debit cards are some of the worst offenders for totting up charges abroad. For example, most of the High Street banks will charge a payment fee, a loading fee of 2.75% and up and cash withdrawal fees of more than £1.50 a time.

In the past Nationwide held the title for the best debit card to use abroad until in many people's eyes it inexplicably cut the perk last year.

It now charges both 2% commission and a £1 cash withdrawal fee on foreign transactions for its FlexAccount. Cunningly, this works out just slightly cheaper than many rivals. Qualifying account holders do now get free basic travel insurance.

There are only two accounts which do not charge for using them abroad - the first is, Metro Bank, the first start-up bank to launch in the UK since the late 19th century, it does not charge commission or withdrawals. It is without doubt the best debit card for spending abroad.

There is also the Norwich & Peterborough's Gold Classic card that offers fee-free spending and ATM withdrawals while you're abroad. However, there is a £5 a month fee for the account, unless you pay £500 a month into your link account.

http://www.thisismoney.co.uk/money/cardsloans/article-1721010/Best-cheapest-ways-spend-abroad.html

gt94sss2

GooliesOfFire wrote: »

How long is the process to open N&P account?

I've recently done this - it took less than 2 weeks from returning the completed form for me.

Regards
Sunil

GooliesOfFire

gt94sss2 wrote: »

I've recently done this - it took less than 2 weeks from returning the completed form for me.

Regards
Sunil

Cheers. There is hope then

RetiredInThailand

barak wrote: »

RetiredInThailand - Thanks for returning to this.

I've only had a quick look and you are certainly correct about Metro Bank's debit card, but I couldn't find evidence of any of the others having debit or cash cards without any fee for withdrawing cash abroad. Perhaps you can?

I was concentrating more on the zero exchange weighting than the withdrawal fees, as for most people this will be the higher part of the total cost of use of a card. Clearly this depends on how one uses the card. I'm sure the relevant websites have details of the charges (if any).
Some of the cards I mentioned are in fact credit cards and not debit cards, for which I apologise.

Metrobank's card is probably the best and most simple to obtain of the ones I mentioned, though they still only have branches inside the M25 as far as I know.

steflarne

I recently got a Norwich and Peterborough one precisley because of the free withdrawals/exchange rate and my plans to work abroad. It did take about two weeks to fully set up, i.e. get the card in the post. Actually setting the account up is fairly easy though and can be done over the phone in about half an hour. I went for the Gold Light account as the £5 fee is only applicable if you use it for less than 5 transactions a month. Actually, as it turned out the area am I now working in lacks any cash machine which can take any Visa debit card, so the account is useless and like an above poster I am simply putting tiny amounts into it to avoid the fee. But sounds like a good account if you can use it!