using atms abroad

PBA

When I was in Madrid earlier in the year, whenever we withdrew cash we took the advice from here and chose to be billed in Euros rather than Sterling. When I checked when we got home I found that actually we were being offered a better rate by the cash machine than the rate applied by the bank.

ManAtHome

PBA wrote: »

When I checked when we got home I found that actually we were being offered a better rate by the cash machine than the rate applied by the bank.

Was that with a Nationwide card or some other bank which has the 2.75% charge built into their exchange rate?

Voyager2002

Barter wrote: »

I've got Nationwide Credit & Debit Cards, & use them in Europe a lot. My main tip is to double-check which you are using where & when: because they look fairly similar I have, 2 or 3 times over the years, used my CC at the ATM, & that's 2 or 3 cash advance fees too many!

I did ask if they had any designs that were different but no, they only come in shades of watery-patterned blue.

Why not ensure that they have different PINs? So even if you start using the wrong one, you will get a reminder.

Barter

Voyager2002 wrote: »

Why not ensure that they have different PINs? So even if you start using the wrong one, you will get a reminder.

That's a good idea, thanks.

My credit card is the Cashback one; unfortunately Nationwide stopped paying cashback on spending abroad some time ago, but I still get cashback from my UK spending. Am I right in thinking the 2 other cards mentioned above (gold, & red) wouldn't have this advantage?

jinkssick

it seems to be that you get charged to withdraw with the flex only in America.

Infidel

As has been said before, none of the main bank atms should charge you. Though some atms near or adjacent to small tourist (or otherwise) shops may charge you (in the same way they do in the UK).

If you ever use an atm abroad and it doesn't dispense any money, then you should make a note of it, then check your bank statement when you get back to make sure this didn't come out of your account.
This once happened to me when i made several attempts to withdraw money from a 'faulty' cash machine - though that was in Shanghai.

dzug

jinkssick wrote: »

it seems to be that you get charged to withdraw with the flex only in America.

And that's not everywhere in America - it will vary from State to State. Each state has different banking laws and customs.

Victors_Bruvver

zenmaster wrote: »

ALL the ATMs I used offered the Euro/Sterling option but always showed the conversion rate and what the charge would be in £. In many cases this was a very favourable rate.

Never, never agree to have your purchase, or cash withdrawals, charged back to you in Sterling. It is DCC, Dynamic Currency Conversion and whilst legal it is nothing more than a scam by the person or business charging your credit/debit card.

I am amazed, and slightly bemused, with all that has been said by Martin Lewis both on the MSE website and also in these forums, people are still unaware of how to spend wisely abroad. Please search for Martin's articles on spending abroad before you travel.

If you have not got a Nationwide account, get one now and charge everything back on that debit card and if you need cash abroad use it in the ATM's but beware, some in Spain & I think the USA, make a small charge for using them. The positive side of this is you will get the best exchange of the day of use when withdrawing cash and when charging goods or services to it.