Overseas cash withdrawals

dogsden

I thought banks were supposed to charge less for withdrawing money overseas by the end of the year - is there any news on when Nationwide will charge less?

noh

You may be refering to the fact that banks agreed to drop transaction fees for buying foreign currency in the UK using debit cards. A charge Nationwide never did levy.
Otherwise they have agreed to make all charges for foreign currency withdrawals abroad clearer, a requirement that Nationwide complies with.

http://www.ft.com/cms/s/0/5a96bf26-2b07-11e1-8a38-00144feabdc0.html#axzz29IDGBo83


http://www.nationwide.co.uk/current_account/travel/usingYourCardAbroad.htm

jonesMUFCforever

I think some have/will drop the 3% cash advance fee at home and abroad but it wil still attract a higher rate of interest on a lot of cards.

System

I would even surmise that their current £1 plus 2% setup is either cost neutral or provided at a small loss.

Given Nationwide's previous setup was clearly a loss leader, I doubt they will be in any rush to subsidise expats and those whose travel abroad extensively in the current financial climate.

dogsden wrote: »

I thought banks were supposed to charge less for withdrawing money overseas by the end of the year - is there any news on when Nationwide will charge less?

ManAtHome

Halifax Clarity credit card is the best generally available, prepaid credit cards are slightly better than NW (and occasionally a lot better).

Probably worth a look at Halifax current account/Clarity Reward Accounts - couldn't be worse than Nationwide (where I'm guessing you get BA at present).

noh

ManAtHome wrote: »

Halifax Clarity credit card is the best generally available, prepaid credit cards are slightly better than NW (and occasionally a lot better).

Probably worth a look at Halifax current account/Clarity Reward Accounts - couldn't be worse than Nationwide (where I'm guessing you get BA at present).

The OP is referring to cash withdrawals abroad from a current account using a debit card. For this purpose I use a Norwich and Peterborough Gold account which has no fees.

jaycube

[FONT=&quot]There is nothing like this where they are going to charge the whole nation for this transfer. [/FONT]