Accounts with a zero withdrawal abroad charge

Eam180496

Hi,

In January I will be studying in the USA for 4 months as part of my university degree. As I don't know how much I'll be spending it would be unrealistic to exchange thousands of dollars like I have for previous shorter holidays, so I was wondering whether there was a good bank account (preferably with a debit card over credit) in the UK that I would be able to use while I'm there without ridiculous charges or whether opening a U.S. bank account would be easier?

I don't need anything with a particularly big overdraft as I won't use it and my current student account recently stopped giving me any credit monthly interest so I'll probably just move everything over including work and student finance payments.

Thanks.

grumbler

MSE articles:

• Top Travel Spending Cards
• Your Card: Overseas Charges

There are very few debit cards offering this and, IIRC, the current accounts they are linked to require jumping through hooks. In fact, N&P is probably the only one without charges. Metro bank is the next with the lowest charges. Also,

Nationwide FlexPlus is worth checking (free withdrawals only IIRC). It has £10 monthly fee, but comes with free worldwide travel insurance among other benefits. And you can get £100+ for switching to it if you get referred by the existing customer and switch your account to it (or just £75 through Quidco).

It's not clear why you are interested in withdrawals rather than spending/purchases.

If you can't get a credit card, then a prepaid one is, possibly, a more realistic option for a student.

I don't see how a US account can be better unless you'll get paid in USD into it.

agrinnall

Be warned that many US ATMs charge a usage fee, we occasionally see posts on here indicating that some are free to use (I recall one of the Canadian banks that has ATMs in the NE states being mentioned) but it's likely that you will be charged. It's possible that using a card issued by a US bank in it's own ATMs may be free, but then you may well have to pay to operate the account.

PeacefulWaters

agrinnall wrote: »

Be warned that many US ATMs charge a usage fee, we occasionally see posts on here indicating that some are free to use (I recall one of the Canadian banks that has ATMs in the NE states being mentioned) but it's likely that you will be charged. It's possible that using a card issued by a US bank in it's own ATMs may be free, but then you may well have to pay to operate the account.

TD Bank is the one you have in mind.

I also recall seeing ATMs in McDonald's charging $0.99c a withdrawal.

eDicky

The Norwich and Peterborough BS account has a debit card with no fees for oversees spending and ATM withdrawals. You need to deposit £500 per month or keep a balance of £5000+ in order to avoid a £5 monthly charge, so it may be best to keep your present account to cycle £500 payments in and out.

Eam180496

I tried to reply via phone but it crashed as I was about to submit :mad:

grumbler wrote: »

MSE articles:
Top Travel Spending Cards
Your Card: Overseas Charges
There are very few debit cards offering this and, IIRC, the current accounts they are linked to require jumping through hooks. In fact, N&P is probably the only one without charges. Metro bank is the next with the lowest charges. Also,

Nationwide FlexPlus is worth checking (free withdrawals only IIRC). It has £10 monthly fee, but comes with free worldwide travel insurance among other benefits. And you can get £100+ for switching to it if you get referred by the existing customer and switch your account to it (or just £75 through Quidco).

It's not clear why you are interested in withdrawals rather than spending/purchases.

If you can't get a credit card, then a prepaid one is, possibly, a more realistic option for a student.

I don't see how a US account can be better unless you'll get paid in USD into it.

Thanks this really helped me understand options to be honest as I was pretty clueless as to whats best. I was pretty sure there would be many debit options over credit. I tried to apply for the N&P classic account to get the free withdrawals abroad etc but after completing the application they said I wasn't able to get that account (even though I'm sure I meet the T&Cs).. I am reluctant over the monthly fee options and so was trying to avoid them unless they were the only option left..

I'm not necessarily interested particularly in withdrawals I'm just used to using my card in that way at home because I only pay by cash at home, though while I'm there I would use my card in shops too so would need both. I also had it in my head that I would get charged to use my standard HSBC card at the checkout abroad but is that not the case?

Credit cards wouldn't be an option with what I need with no credit rating after looking on the page you posted, I'd only get something basic, but I did look on MSE at pre paid cards and I think I'm going to get the Revolut MasterCard one thats free transfers, withdrawals etc for a year. I didn't even know they'd be an option Thanks for your help!!

agrinnall wrote: »

Be warned that many US ATMs charge a usage fee, we occasionally see posts on here indicating that some are free to use (I recall one of the Canadian banks that has ATMs in the NE states being mentioned) but it's likely that you will be charged. It's possible that using a card issued by a US bank in it's own ATMs may be free, but then you may well have to pay to operate the account.

Thanks for the heads up on the ATM charges there, at least I'm staying in the same place for the duration, so I can get to know which are cheaper/free.

Revolut_Official

Hi Eam180496,

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Eam180496 wrote: »

I tried to reply via phone but it crashed as I was about to submit :mad:


Credit cards wouldn't be an option with what I need with no credit rating after looking on the page you posted, I'd only get something basic, but I did look on MSE at pre paid cards and I think I'm going to get the Revolut MasterCard one thats free transfers, withdrawals etc for a year. I didn't even know they'd be an option Thanks for your help!!



Thanks for the heads up on the ATM charges there, at least I'm staying in the same place for the duration, so I can get to know which are cheaper/free.