Metro Bank vs Halifax Clarity

kingwheeler

Hi all,

I hope I'm posting this in the right place (I've added it to the travel money discussion page but that was huge and wondered if it would get seen in there? If this is the wrong place, by all means move it to the right place or delete it)

I am going to New York in about 10 days, and have just got myself a Halifax Clarity Card for the fee free stuff. I am very happy about it.

However, a guy at work told me about getting his account with Metro Bank (I live in London) as it doesn't charge for payments and cash withdrawals abroad.

Now, would I be better getting one of these and pre loading it with some cash for withdrawals as cash withdrawals charge interest on the Halifax (all be it at a really low rate). As I understand it, the Halifax interest rate only starts straight away on cash withdrawals and not purchases, so I could use the Halifax for payments and the Metro bank for withdrawals.

Anything else I should be considering/thinking about?

Thanks

Russ

benjus

If you want to squeeze the highest possible money saving, yes, get a Metro Bank card - you'll save the (probably very small) amount of interest between the withdrawal and paying it off. It also means you'll have two ways of spending cheaply in case one gets lost/stolen/stuck in an ATM.

The biggest charge you're likely to face will be the charge that most American ATMs make on cash withdrawals. Not all of them charge, however - I believe that TD bank ones don't.

kingwheeler

Oh Really? So I'll have to do a little search to find ATMs that don't charge?

Cool thanks for the heads up.

I was looking to not bother taking any dollars out with me, and just grabbing some from the first cash machine I found, but if I have to root around for one I might take a small amount.

benjus

kingwheeler wrote: »

I was looking to not bother taking any dollars out with me, and just grabbing some from the first cash machine I found, but if I have to root around for one I might take a small amount.

Even if you use an ATM that charges, it will probably be cheaper than changing cash over here.

Neil49

We were in NY last October and I can confirm that TD Bank didn't charge for atm withdrawals, however, when I tried a Chase atm it advised me in advance that there would be a $3 charge for using the machine.

There are plenty of TD Banks in Manhattan.

Have a good time.

kingwheeler

TD Banks it is then!

Cheers Neil and Benjus

:beer: