Metro Bank introduces charges for withdrawing money Outside Europe

buffman

From 18 March Metro Bank will impose a 1.9% fee on any transactions outside Europe and 1.9% on cash withdrawals plus a £1 charge. Transactions in Europe will remain free.

So much for Metro Bank being different and a champion of the people!

labp04

Hi, where've you got this info from? Is there a link to the update?

gt94sss2

Its on their website here

Though, they have obviously issued a press release of some sort as the Guardian, Telegraph and Your Money are all carrying the story.

Wonder when they will tell their customers formally.. - no point in having a Metro Bank account for most people now. That was about the only real benefit..

Regards
Sunil

Wilkins

buffman wrote: »

So much for Metro Bank being different and a champion of the people!

Why would anyone think that?

buffman

gt94sss2 wrote: »

Its on their website here

Wonder when they will tell their customers formally.. - no point in having a Metro Bank account for most people now. That was about the only real benefit..

I will be closing my account and cancelling my credit card.

I understand that N & P have a debit card that allows cash withdrawls abroad without fees. Does anyone have any experience with them?

lisyloo

Are there any other debit cards that allow cash withdrawls abroad without fees?

Why do you specifically want a debit card?
Halifax Clarity credit card allows cash withdrawals without any fees.
There is interest but it can be avoided with faster payments if you have safe and cheap internet access - otherwise interest is typically 12.9% per annum (so for a 2 week holiday about 0.5% which is very very low compared with other ways of converting currency).

Apologies if you knew all that already.

buffman

I currently do also have a Halifax Clarity Card. Is it permitted to transfer money into the account before going on holiday to avoid paying interest on cash withdrawls?

Voyager2002

buffman wrote: »

I currently do also have a Halifax Clarity Card. Is it permitted to transfer money into the account before going on holiday to avoid paying interest on cash withdrawls?

No. With on-line banking you could transfer money in at the same time as withdrawing cash, thus maintaining a near-zero balance and paying minimal interest.

SnowTiger

buffman wrote: »

I will be closing my account and cancelling my credit card.

I understand that N & P have a debit card that allows cash withdrawls abroad without fees. Does anyone have any experience with them?

I have.

I've used my N&P card for cash withdraws during my two recent visits to the Philippines without any problems.

But you need to make yourself aware of the funding and usage requirements of their Classic Gold and Gold Light accounts. Their Gold Light account will no longer be available from 13th January, but their Classic Gold account, which will remain, is probably a better option anyway. Just cycle £500 a month through it.

http://www.nandp.co.uk/current-account/

VictimOfImpersonation

Oh dear. So Metrobank are doing a Nationwide?

lisyloo

thus maintaining a near-zero balance and paying minimal interest

You can pay zero interest (I know that for a fact) by transferring on the SAME day.