Holiday bank account

minimacka

Hello

Basically what I want is to open an account that i can transfer some of my wages into every month and then when I go on holiday to spain at the end of summer I can draw out this money in spain without it costing me too much in bank charges. Is there such a bank account? I would also like to continue putting money in every month after my holiday so a good interest rate would be nice.
Many thanks for your help.

techno_geek

Nationwide FlexAccount! It's excellent!

minimacka

Many thanks for replying techno-geek i will have a look.
:beer:

squashy

You need a savings account if it is interest you are after. The more you can commit to, eg providing notice for withdrawals, depositing a minimum each month, the higher your rate will be. Then transfer the balance into your current account when you are ready to withdraw, as the chances are you will need a card with the Visa logo on, which savings account cards do not (correct me if I'm wrong!).

Eg Nationwide regular savings a/c 4.25-6.25%
Nationwide 60 Day Direct 4.8-5.05%

There are loads of similar on the high st.

Kilty_2

Get a Nationwide FlexAccount so you can actually spend the money you save abroad with no fees.

If you can put £1-200 per month into savings, put it into the Nationwide Regular Saver. If you can put less than that in (or anything that's left after you've put the max £250 into reg saver in a month), put it into their E-Savings that bolts on to a FlexAccount. Either way you'll get a high interest rate.

Before you go on holiday, transfer the money back into the FlexAccount (instantly) and use the card for it to withdraw foreign currency or make purchases abroad. .