Sage Platinum Credit Card

katies_mum

Wondering if anyone can advise please as I`m getting a bit confused with the T & C on Saga site.

We are off to Hong Kong in 10 days and are taking our Saga Platinum card. If we purchase items, pay for meals items in the hotel etc then am I right in thinking there are no extra charges if we clear our account in full when we get back other than whatever the exchange rate is?.

Also should we wish to make a cash withdrawal from ATM is the only charge a £2 cash withdrawal fee again if we pay in full when we return?

Many thanks

YorkshireBoy

Your "thinking" is correct, other than on the cash advance fee.

It's 2%, minimum £2.

exel1966

The minimum £2 is the card imposed fee. You'll also almost certainly have to pay a local fee at the point of transaction unless you're very lucky enough to find a Free ATM.

katies_mum

Thank you YorkshireBoy - I must have misunderstood the £2 / 2%.

excel1966 - sorry to sound a bit thick but could you tell me what is local fee? not come across any mention of these before.

jonesMUFCforever

I have seen these when in USA - the machine ''charges'' you for using it. You have to confirm that you accept the charge before proceeding with the transaction.

katies_mum

I`ve never come across this before as to be honest we have never drawn cash via an ATM when abroad - I was wondering about charges etc just in case! we usually take cash and exchange it when we need to in the local currency (apart from when in US). I suppose the advantage of having to confirm whether or not to proceed would make you aware there are other fees.
Thanks

exel1966

99% of ATM's owners overseas will charge a fee for the privelage of using their machine, usually in the range of £2-4 so if you're going to make withdrawals make them as infrequent as possible. Take larger amounts out each time rather than numerous small transactions.

katies_mum

Thanks, as long a we are prepared then it doesn`t come as a shock. Its only as an emergency as will be changing pounds there to Hong Kong dollars.

NiftyDigits

exel1966 wrote: »

99% of ATM's owners overseas will charge a fee for the privelage of using their machine, usually in the range of £2-4 so if you're going to make withdrawals make them as infrequent as possible. Take larger amounts out each time rather than numerous small transactions.

This, of course, is utter nonsense.

NiftyDigits

katies_mum wrote: »

Thanks, as long a we are prepared then it doesn`t come as a shock. Its only as an emergency as will be changing pounds there to Hong Kong dollars.

Don't bother. If your SAGA card credit limit is high enough, just use the card for cash withdrawals and purchases.

The rate that you will get will be better than the rate that you get for exchanging cash. In addition, as long as you pay the statement balance in full there will no interest to pay. So just 2% off the VISA wholesale exchange rate for ATM withdrawals.

There will be no extra fee from the ATM. exel1966 just made that up.

katies_mum

Thank you NiftyDigits. We`ll use it for purchases and see how we get on...might not need any cash.