Transaction Fees

cellbar

Are there any cards out there that don't charge a ridiculous fee for using it abroad?

I have just found out that my CC company have been charging me a conversion rate fee but have not been showing it separately and have only just decided to be 'transparent' about it.. I am fuming!!

I have been with them for a good 7 or 8 years now and would have expected to be informed of such things in the past and I know to read the small print, but surely they should not be able to get away with this!

[Deleted User]

Yup. Aqua reward, aqua advance and Halifax Clarity. And some others.

opinions4u

Post Office and Halifax Clarity leap to mind.

To be honest, even with a 3% fee most credit cards exchange money at a favorable rate when compared to buying currency over the counter.

unimaginative_user_name

There's a tool on the travel section of the main site where you can find out which cards charge for overseas purchases and ATM withdrawals.

I use Halifax Clarity abroad as the exchange rate is good and there are no transaction fees for purchases or ATM withdrawals. The only slight snag is you still have to pay interest on cash withdrawals though you can minimise this by paying off your account asap.

chanz4

cellbar wrote: »

Are there any cards out there that don't charge a ridiculous fee for using it abroad?

I have just found out that my CC company have been charging me a conversion rate fee but have not been showing it separately and have only just decided to be 'transparent' about it.. I am fuming!!

I have been with them for a good 7 or 8 years now and would have expected to be informed of such things in the past and I know to read the small print, but surely they should not be able to get away with this!

read your t&c's

dzug1

cellbar wrote: »

Are there any cards out there that don't charge a ridiculous fee for using it abroad?

I have just found out that my CC company have been charging me a conversion rate fee but have not been showing it separately and have only just decided to be 'transparent' about it.. I am fuming!!

I have been with them for a good 7 or 8 years now and would have expected to be informed of such things in the past and I know to read the small print, but surely they should not be able to get away with this!

I really don't believe it wasn't in the small print - it has been in every card I've ever looked at. Buried away, yes, but not missing entirely

For debit cards look at Metrobank

grumbler

Halifax 'Clarity'...

Is my understanding correct that if I preload it there would be no charges and no interest on ATM withdrawals abroad?

opinions4u

grumbler wrote: »

Halifax 'Clarity'...

Is my understanding correct that if I preload it there would be no charges and no interest on ATM withdrawals abroad?

You run the risk of them blocking the card, as putting the account in credit breaches the T&Cs and triggers anti-fraud / money-laundering bells.

You'd be best spending on it and then making a payment asap.

£100 withdrawn works out at around 3p a day interest on the 12.9% rate.

grumbler

opinions4u wrote: »

You'd be best spending on it and then making a payment asap....

Do you mean withdrawing then paying ASAP?
If it is spending, what's the point in rushing unless you mean just paying the balance in full on the due date?

Also, I think my Aqua with 3% casback and no conversion fees is better for purchases, isn't it?

opinions4u

grumbler wrote: »

Do you mean withdrawing then paying ASAP?

Yes.

Also, I think my Aqua with 3% casback and no conversion fees is better for purchases, isn't it?

Sounds like it. Even if you qualify for the £5 reward on Clarity.

grumbler

opinions4u wrote: »

...Even if you qualify for the £5 reward on Clarity.

Is it for some old cards? I don't see anything like this on the website now.