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Halifax Clarity Card - Questions :)

I got the card today, as I'm abroad (traveling) and got my post from the UK today with the card and the PIN.

I got a few questions

1) I went, today, to the ATM to withdraw foreign currency (1,000 Israeli Shekels) and my limit is £1,800 on this card, so after that ATM withdrawal it showed £1636.87 on my available balance to spend, so I figure the charge is £163.13 which is extremely good rate, because actually the GBP-ILS is being traded right now at 6.11 ILS for 1 GBP, and I got 6.13 ILS exchange rate, is it not weird that I get a better exchange rate than what is on the market? :think:

2) I paid from Halifax current account £163.13 into the Credit Card account and now it's showing the available balance to spend is £1,800 again - but the transactions are not posted as of yet - does that mean I already paid for my ATM cash withdrawal as of today so no interest would occur?

Thanks for your replies in advance. :D

Comments

  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
    Part of the Furniture 1,000 Posts
    Anyone ? ?
  • I have a Clarity card too, basically the exchange rate is better than you'll get from any forex seller, reason being you get the MasterCard rate, which is pretty much interbank. Forex traders give a lower rate in order to make a profit and seem like a good deal by being "commission free".

    Your interest will be minimal based on your payment. Generally even faster payments affect the available instantly (or near as damn it) but as with all credit cards the actual transactions take a day or so to reconcile.
  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
    Part of the Furniture 1,000 Posts
    I have a Clarity card too, basically the exchange rate is better than you'll get from any forex seller, reason being you get the MasterCard rate, which is pretty much interbank. Forex traders give a lower rate in order to make a profit and seem like a good deal by being "commission free".

    Your interest will be minimal based on your payment. Generally even faster payments affect the available instantly (or near as damn it) but as with all credit cards the actual transactions take a day or so to reconcile.

    Thank you GW.
    :T
  • lisyloo
    lisyloo Posts: 30,035 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    is it not weird that I get a better exchange rate than what is on the market

    No it's not weird.
    Halifax is 0% commission. The "market" usually include commission.
    does that mean I already paid for my ATM cash withdrawal as of today so no interest would occur?

    Depends on exactly when both transactions get posted, but potentially yes no interest. For 1 day it would be really minimal (6p).
  • jumperabv3
    jumperabv3 Posts: 1,231 Forumite
    Part of the Furniture 1,000 Posts
    Thank you guys ...

    I have taken these screenshots from my Halifax page:

    vorlat.png

    So it shows the credit I posted in the account as of yesterday but the ATM withdrawal has not been posted yet (I'm sure it would take at least 1 more day), so maybe once it's posted it would settle as is, or maybe like £0.40 more (6.113 as you mentioned), I don't know lol :rotfl: but wtvr it is, it's a very good card if the charges would be close to this one, no other bank / service can get me 1,000 ILS @ a rate of 6.113, it's just impossible.
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