Halifax Clarity

shiny76

Jo4 wrote: »

Also can anyone who already has this card tell me how long it takes for a foreign transaction & a foreign ATM withdrawal to show on your account

It may vary by retailer/bank and/or country. However from a recent trip to Ireland I had:

20 Sep

---

Meal in hotel

---

Showed online on 22 Sep
21 Sep

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Cash Withdrawal

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Showed online on 23 Sep
22 Sep

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Supermarket

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Showed online on 23 Sep
26 Sep

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Petrol

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Showed online on 29 Sep

Most appear within 2 days, the occasional one appeared after 3 days. This may have been as it was across a weekend???

Jo4

dzug1 wrote: »

You can't work out exactly how much in advance - only a rough estimate

How do you work out the rough estimate?

Jo4

shiny76 wrote: »

It may vary by retailer/bank and/or country. However from a recent trip to Ireland I had:

20 Sep

---

Meal in hotel

---

Showed online on 22 Sep
21 Sep

---

Cash Withdrawal

---

Showed online on 23 Sep
22 Sep

---

Supermarket

---

Showed online on 23 Sep
26 Sep

---

Petrol

---

Showed online on 29 Sep

Most appear within 2 days, the occasional one appeared after 3 days. This may have been as it was across a weekend???

Thanks! :money: :j :beer:

eskbanker

Jo4 wrote: »

How do you work out the rough estimate?

Effectively two separate calculations:

£ value of €100, which will vary according to exchange rate on the day, roughly £80 just now

Interest cost, which is APR divided by 365 per day, multiplied by the above £ value. Assuming 21.9% APR, £80 would therefore be roughly 4.8p per day until repaid. As YorkshireBoy pointed out earlier, not enough for most to worry about, in the context of the cost of a foreign holiday!

Jo4

eskbanker wrote: »

Effectively two separate calculations:

£ value of €100, which will vary according to exchange rate on the day, roughly £80 just now

Interest cost, which is APR divided by 365 per day, multiplied by the above £ value. Assuming 21.9% APR, £80 would therefore be roughly 4.8p per day until repaid. As YorkshireBoy pointed out earlier, not enough for most to worry about, in the context of the cost of a foreign holiday!

Thank you!! :T :beer: :money:

KTF

dealer_wins wrote: »

They will close your card if you prepay!

No they wont as they are very slack at picking it up.

Sometimes the reward payment on my clarity reward card puts me in credit anyway.

YorkshireBoy

Jo4 wrote: »

How do you work out the rough estimate?

Sticking to Sterling (you can do your own conversion from foreign currency, but Halifax's will be around 3-5% better than a high street bureau de change)...

21.9% APR equates to a monthly rate of 1.6639%

The daily rate is the monthly rate x 12 / 365, so

Daily rate = 1.6639% x 12 x 365 x 100 = 0.0547%

On a £100 transaction value, this is £100 x .0547% = £0.05, or 5p.

Remember, the interest only accrues from the posting date (ie when you see it online), not the transaction date (the date you entered your PIN), so it's entirely possible (as has been shown in an earlier post) that you could withdraw funds 2 days from the end of your holiday and, if you repay immediately on your return to the UK, avoid interest altogether.

But, as I said to a poster recently on another Clarity thread, the interest isn't such a big deal so when I've enjoyed a nice meal and call the Spanish waiter over it's to say "La cuenta por favor", not "El wifi contraseña por favor"!

Jo4

YorkshireBoy wrote: »

Sticking to Sterling (you can do your own conversion from foreign currency, but Halifax's will be around 3-5% better than a high street bureau de change)...

21.9% APR equates to a monthly rate of 1.6639%

The daily rate is the monthly rate x 12 / 365, so

Daily rate = 1.6639% x 12 x 365 x 100 = 0.0547%

On a £100 transaction value, this is £100 x .0547% = £0.05, or 5p.

Remember, the interest only accrues from the posting date (ie when you see it online), not the transaction date (the date you entered your PIN), so it's entirely possible (as has been shown in an earlier post) that you could withdraw funds 2 days from the end of your holiday and, if you repay immediately on your return to the UK, avoid interest altogether.

But, as I said to a poster recently on another Clarity thread, the interest isn't such a big deal so when I've enjoyed a nice meal and call the Spanish waiter over it's to say "La cuenta por favor", not "El wifi contraseña por favor"!

Thank you for the explanation! :T :beer:

RMcoiner

If you have internet banking, you can always spend on the card, once you get back to your hotel room presuming they have wi-fi, log into your details and transfer the funds in. It may sound awkward but atleast you are not prepaying the card and you just cut a couple days interest from the bill.

YorkshireBoy

Jo4 wrote: »

Can you lodge and withdraw money via the Post Office to the Halifax bank account which enables you to get the Halifax Clarity card?

You don't need a Halifax current account to get the Clarity card.

But yes, you can service (deposit/withdraw) a Halifax current account at the PO.