Any standard cash bank account that doesn't charge for using abroad?

HarlemThorne

I'm just wondering if there is any kind of bank account in the UK that could be used to deposit my money into when i'm going away (I spend a lot of time in Norway / Sweden) and I could use abroad that wouldn't cost me any fee's to use or withdraw money from at an atm?

alanq

Metrobank cards can be used without fees in Europe.

A possible snag being that Metrobank doesn't have many branches and they are all close to London. Current accounts have to be opened in a branch.

Norwich & Peterborough Gold Classic is fee-free when used abroad..

http://www.which.co.uk/money/bank-accounts/reviews-ns/bank-accounts/charges-to-use-your-debit-card-abroad/

PeacefulWaters

Perhaps focus on credit cards:
http://www.moneysavingexpert.com/travel/cheap-travel-money?_ga=1.185398889.1116300417.1393518509

Halifax Clarity?

alanq

PeacefulWaters wrote: »

Perhaps focus on credit cards:
http://www.moneysavingexpert.com/travel/cheap-travel-money?_ga=1.185398889.1116300417.1393518509

Halifax Clarity?

Why? No fee but interest to pay if withdrawing cash from ATMs.
From the article to which you provided a link "Cash withdrawals. Fee: FREE | Interest on cash withdrawals?: Yes, until it's repaid in full."

There are times one wants a credit card but the OP was seeking a card that could be preloaded with funds and used to make withdrawals at no cost.

grumbler

alanq wrote: »

Why? No fee but interest to pay if withdrawing cash from ATMs.

Because:

• IMO it's simpler,
• normally you don't need a lot of cash,
• interest on cash is very small even if it takes you a month to pay off, but you can do it much faster.

plunt

if you live in london and want it for EU cash withdrawls go for metro bank as they will give you the card on the spot in branch when registering

Otherwise go with n&p, their customer service is amazing and you pretty much get straight to a human when calling their line! (rare these days!)

Remember with n&p to do monthly transfers in and out of the account so you dont get charged!

But look into halifax clarity or i believe the lloyds avios card as they dont charge a comission (and you can get cashback on sites like quidco) From my experience of living in Sweden, it was extremely hard to use cash as they all want to just accept card (debit or credit) , even in taxis!

HarlemThorne

plunt wrote: »

if you live in london and want it for EU cash withdrawls go for metro bank as they will give you the card on the spot in branch when registering

Otherwise go with n&p, their customer service is amazing and you pretty much get straight to a human when calling their line! (rare these days!)

Remember with n&p to do monthly transfers in and out of the account so you dont get charged!

But look into as they dont charge a comission (and you can get cashback on sites like quidco) From my experience of living in Sweden, it was extremely hard to use cash as they all want to just accept card (debit or credit) , even in taxis!

I have about 3 metrobank branches within 30 minutes of so from me so that'd be great! Thanks so much for the help

I'll take a look at the llyods one now too!

Though the only thing I could think of, are the banks that offer no charge on foreign withdrawals more likely to give you a lesser currency rate compared to other banks who charge a fee :eek:

PeacefulWaters

HarlemThorne wrote: »

I have about 3 metrobank branches within 30 minutes of so from me so that'd be great! Thanks so much for the help

I'll take a look at the llyods one now too!

I think they charge an annual fee, offset by earning Avios points.

Though the only thing I could think of, are the banks that offer no charge on foreign withdrawals more likely to give you a lesser currency rate compared to other banks who charge a fee :eek:

They tend to charge the official MasterCard exchange rate.

This is significantly better than any high street, airport or online currency exchange service.

plunt

Think the avios fee is £24 but you can get £20 back from quidco if my memory serves me right

benjus

HarlemThorne wrote: »

Though the only thing I could think of, are the banks that offer no charge on foreign withdrawals more likely to give you a lesser currency rate compared to other banks who charge a fee :eek:

They don't control the rate - the card network (Visa/Mastercard) does. The base exchange rates from the card networks are typically more or less equal to the mid-market exchange rates. The card networks offer client banks a framework in which they can add a % to the base exchange rate, which most banks do, but the ones mentioned on this thread have chosen not to do this.

However, some ATMs and retailers offer to convert to your bank account currency at a rate advertised by them - these rates are typically bad so you should always refuse this offer and get the transaction put through in local currency, not GBP.

zerog

plunt wrote: »

if you live in london and want it for EU cash withdrawls go for metro bank as they will give you the card on the spot in branch when registering

Not just EU, SEPA, which includes NO, CH and IS plus a few of the tiny countries like Monaco which uses the euro anyway)

Mastercard rate for GBP/NOK is usually 0.25% better (i.e. in favour of the consumer) than xe.com rate