Got My Clarity Card But What About Cash?

edited 30 November -1 at 1:00AM in Flights, Currency & Car Hire
2 replies 468 views
jillywallyjillywally Forumite
5 Posts
edited 30 November -1 at 1:00AM in Flights, Currency & Car Hire
Hi, My husband and I are going to Florida next month and will be taking our Clarity Card with us (thanks Martin!!) but what do we do about small things and car parking at the parks etc? I was going to get £1000 of dollars from Fairfx today on my credit card but they charge £27 for doing that, is it best to use my Lloyds TSB debit card to buy the currency rather than a credit card or am I missing another possibility?
I believe if we use the Clarity card abroad at the ATMS for cash, we will be charged daily interest but no actual fee for the taking the cash out. Any ideas what rate the interest would be and is this the best option over taking dollars with us ie if we take out 100 dollars from the ATM what would we have to pay back in interest? we would pay it all off in full as soon as we get the credit card bill.
Hope I have explained everything properly. Sorry for being a bit thick when it comes to interest etc.

Thanks alot,
Jill

Replies

  • benjusbenjus Forumite
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    As long as you pay off the cash withdrawals by the end of the month (or earlier, if possible) the amount you will be charged in interest will almost certainly be less than the cost of obtaining USD here.

    The Halifax won't charge you any fees for using ATMs, but there is a tendency in the USA for ATMs to charge a couple of dollars for withdrawals made with foreign cards. There are some banks that don't do this (not sure which), so might be worth doing a bit of research on that subject.
    Let's settle this like gentlemen: armed with heavy sticks
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  • Neil49Neil49 Forumite
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    benjus wrote: »

    The Halifax won't charge you any fees for using ATMs, but there is a tendency in the USA for ATMs to charge a couple of dollars for withdrawals made with foreign cards. There are some banks that don't do this (not sure which), so might be worth doing a bit of research on that subject.

    We were in New York recently and found that TD Bank did not charge for atm withdrawals whereas Chase charged $3 (although they did warn you in advance and gave the option to cancel the transaction). Not sure if TD (aka Toronto Dominion - a Canadian bank) have branches in Florida but they were all over the place in NY.

    If you do end up having to pay an atm fee then it makes sense to withdraw larger amounts of cash at one go rather than just $100 every day or so.

    If you are away for some time you could use internet banking to transfer money from your current account to pay off your Clarity balance as and when the cash advances appear. What you can't do is preload your Clarity card with funds (i.e run it with a credit balance).

    If you only away for a week or so then I would enjoy my holiday and wait until returning home then pay off the balance asap to limit interest charges.

    Have a good time.
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