Spending Overseas: The cheapest way to pay Article Discussion Area

moob_2

sandy2 wrote: »

This weeks money tips here quote Got a Nationwide Credit Card for using abroad? It's getting more expensive!
The Post Office* and Nationwide credit cards are currently my top pick cards for spending cheaply when abroad; they give you the very best exchange rate as neither adds the hidden ‘load fee’ to it. Yet from 17 October, Nationwide's cost of withdrawing cash abroad (and at home) will rise to 2.5% (min £3), meaning the Post Office credit card is significantly better now

I think what's happened is people have got confused between debit and credit cards and getting cash from hole in the wall using a credit card

Phew (wipes brow);)

Glad it's not the debit card then! Would never take cash out using a credit card!

pr33tz

Does anyone know if you can use a Nationwide cash card abroad?

jonnyboy_2

Yes, I think you can. It uses Cirrus instead of Visa as far as I'm aware.

ash333

pr33tz wrote: »

Does anyone know if you can use a Nationwide cash card abroad?

YES YOU CAN.

I've just returned from Amsterdam and I used my card to withdraw Euros and got approx 1.475 Euros to Pounds whilst the Post office offered 1.42 and the place in Stansted airport was offering 1.39!


Can't beat em!

Rebel_Engineer

Went into a panic there for a bit until I realised that it was the Nationwide CREDIT CARD not the debit card that was now charging more.
Have always used the debit card abroad to get cash. Never bother with foreign currency until arriving, there is always an ATM in the airport.

sandy2_2

Just been sent this info ¨

Nationwide now have a new CEO and things are changing rapidly within the organisation (and from the head office staff I have heard from recently it is not all good news for the employees or the customers) = A lot think that the new man at the top is out to turn it into a bank or sell it on to one of the banks.. However this new broom may also target the Debit Card as well. Nationwide has always charged for cash advances on its credit cards - it's just that they have recently raised the rate.¨

iwanttoberich

I have won a prize trip to the US. I have a poor credit rating and cannot qualify for a credit card. I have a cash card (Solo) at the moment. I am aware that some hotels require credit card details on their files. I am thinking of getting a prepaid mastercard. Can anyone recommend the best one for this? I have contacted Virgin and they say some hotels won't accept these because your name is not embossed on the front and they can't make an imprint of this. I would have thought that your details would have been taken electronically from the card. Any advice would be greatly appreciated.

rapier52

I've just acquired a lastminute.com prepaid travel card, which is Maestro and my name is embossed on the front, so that shouldn't be any problem. Don't know if it's the same sort of card you're talking about - this is a pre-paid debit card, which you can use to withdraw at ATMs and pay for goods with chip & pin, but you have to top it up before you use it. I haven't yet used it, and I wonder if anyone else has - the charges are £1.50 per withdrawal, and 2.75% foreign transaction fee. I have a NatWest debit card and can't work out which would be cheaper to use abroad.

hollydays

rapier52 wrote: »

I've just acquired a lastminute.com prepaid travel card, which is Maestro and my name is embossed on the front, so that shouldn't be any problem. Don't know if it's the same sort of card you're talking about - this is a pre-paid debit card, which you can use to withdraw at ATMs and pay for goods with chip & pin, but you have to top it up before you use it. I haven't yet used it, and I wonder if anyone else has - the charges are £1.50 per withdrawal, and 2.75% foreign transaction fee. I have a NatWest debit card and can't work out which would be cheaper to use abroad.

have you seen martins notes under the banking section on spending abroad?
nat west -spending penalty .75p, exchange load 2.65%, cash withdrawl 2.25% max £4.

last minute say the 2.75 is on the actual rate as set by maestro,whatever that means,but presumably you have also paid to buy the prepaid card.

iwanttoberich

I have read Martin's bit about Nationwide cards. I phoned Nationwide. I only qualify for a cash card. The customer rep said that I can use the cash card to withdraw overseas. Good because they don't charge for withdrawal.