Travel Money Maximiser Discussion Area

ceejayblue

Now that Woolwich is Barclays they have sent my husband a new Visa Debit card for an account that he has not used and doesn't have any cash in! The point is the leaflet that came with it claims that if we use this card abroad in ATMs and to pay for goods we won't get charged transaction charges as long we we use one of the Global Alliance banks.

Is this as good a deal as the Nationwide one (I have a Nationwide flex and credit card account and find them excellent) or should we avoid using it?

Thanks

moob_2

ceejayblue wrote: »

Now that Woolwich is Barclays they have sent my husband a new Visa Debit card for an account that he has not used and doesn't have any cash in! The point is the leaflet that came with it claims that if we use this card abroad in ATMs and to pay for goods we won't get charged transaction charges as long we we use one of the Global Alliance banks.

Is this as good a deal as the Nationwide one (I have a Nationwide flex and credit card account and find them excellent) or should we avoid using it?

Thanks

They do charge. Get a Nationwide Flexaccount.

No transaction charges* when using your card in machines abroad belonging to our Global Alliance.
* A 2.75% charge for Barclays handling costs and any Visa processing fees is included in the sterling conversion on your statement. Please read full rates and charges.

mat19

Hi,

I was going to buy my euros online. I wanted to buy £300 worth of euros and i see a warning now about a charge.

I got a Lloyds TSB Classic Acount (Current Account) and a Lloyds TSB Visa card associated with that account. Does this mean i would be charged a fee to buy my euros online?

As i dont understand why because you pay in GBP. Ifso how do i know how much the bank will charge?

also when you go to payment page on website you buying euros from it does not state there may be a charge and only only includes amount you gonna pay in GBP.

I am confused over this.

all help appreciated.

Thank you,
Mathew

dzug

Yes Lloyds will charge you for purchasing euros with their debit card.

The website doesn't tell you this coz it's not going to charge you - Lloyds are going to charge you. The website doesn't know which bank your card is with so doesn't know whether you will be charged or not. All it can do is warn of the possibility.

Lloyds do coz they can - OK? It's been debated on this forum several times.

mat19

Hi,

I went in ot my Local Lloyds TSB branch and they was unable to tell me the charge to buy my euros online.

They gave me a number and still the people on the phone did not know.

I got a normal LloydsTSB Visa Debit Card and want to know what is the fees etc.

The bank don't seem to know lol.

When money saving expert transfers me to the site i choose to buy my foreign currency it tells me the amount i will be charged.

for example £300 i pay £301.46 and they give me €435 euro but it does not state anything about a charge and the total amount is £301.46 and as the bank does not know i dont know what charges i would occur on top of that amount.

Can someone please help me as i want to buy £300 worth of euros and dont know charges?

Thank you,
Mathew

catokelly

Lloyds TSB do charge 1.5% for purchase of currency, but will charge a maximum of £4.50. Another option is to pay by bank transfer (BACS) if you have online banking and there is no charge for that.

dzug

mat19 wrote: »

Hi,

I went in ot my Local Lloyds TSB branch and they was unable to tell me the charge to buy my euros online.

They gave me a number and still the people on the phone did not know.

I got a normal LloydsTSB Visa Debit Card and want to know what is the fees etc.

The bank don't seem to know lol.

When money saving expert transfers me to the site i choose to buy my foreign currency it tells me the amount i will be charged.

for example £300 i pay £301.46 and they give me €435 euro but it does not state anything about a charge and the total amount is £301.46 and as the bank does not know i dont know what charges i would occur on top of that amount.

Can someone please help me as i want to buy £300 worth of euros and dont know charges?

Thank you,
Mathew

They will charge you (Lloyds TSB that is) :

1.5 % of the amount with a minimum transaction charge of £2 and a maximum of £4.50.

That's a cut and paste from their web site. So the charge will be £4.50.

Sounds about par for customer facing staff at most branches of any bank

mat19

Hi,

Just so i understand clearly

do you mean 1.5% plus anything upto £4.50 or you mean 1.5% of £300 is £4.50?

As if the did charge 1.5% plus anything from £2 - £4.50 how do i know which amount from £2 - £4.50 they would charge? that means they could charge what they feel like from £2-£4.50

Can someone tell me how i would work out 1.5% from any amount i may have in mind.

Thsi way i can then do it myself. Sorry for the sillyness but me and maths dont mix.

This way if i dont get much of a good rate with fees included then i can get a lower amount say £100 worth until i get out to greece where i can get a better rate.

also i do have online banking so i will find out if i can pay by BACS but i dont think any of the sites listed on here where i can compare foreign currency does allow payment by BACS

Thank you,
Matthew

dzug

mat19 wrote: »

Hi,

Just so i understand clearly

do you mean 1.5% plus anything upto £4.50 or you mean 1.5% of £300 is £4.50?

As if the did charge 1.5% plus anything from £2 - £4.50 how do i know which amount from £2 - £4.50 they would charge? that means they could charge what they feel like from £2-£4.50

Can someone tell me how i would work out 1.5% from any amount i may have in mind.

Thsi way i can then do it myself. Sorry for the sillyness but me and maths dont mix.

This way if i dont get much of a good rate with fees included then i can get a lower amount say £100 worth until i get out to greece where i can get a better rate.

also i do have online banking so i will find out if i can pay by BACS but i dont think any of the sites listed on here where i can compare foreign currency does allow payment by BACS

Thank you,
Matthew

I mean 1.5% of £300 is £4.50.

Multiply 300 by one and a half - answer 450. Divide by 100 - 4.5

If you take more than £300 it will still be £4.50, coz that's the maximum they charge. If you take less then it will be less than £4.50 - it will be the percentage.

mat19

Thank you for your help this how made things clear for me now.



Thank you,
Mat