MSE News: New best overseas debit card launches in January

SaveTheEuro

margiepargie wrote: »

I am aware that N&P are currently facing considerable claims for alleged mis-selling. There are also rumours that the Coventry Building Society are considering a bid for N&P. Coventry charge for overseas transactions so what chance of this new free N&P facility remaining if they are absorbed by Coventry? Is it worth the effort of setting up a new account with N&P. What do others think?
PS. I'm an angry Nationwide regular who has been penalised by their new charges although it is my main account. And no the free holiday insurance doesn't cover me as I'm over the age limit.

Even if the Coventry takes over the Norwich and Peterborough that won't necessarily mean the end of fee free cash withdrawals abroad. The Stroud and Swindon has continued to offer different products since it came under the ownership of the Coventry. The N and P might too. "Is it worth the effort?" could be asked about Santander Zero and Metro Bank too. There's no telling when they'll do a Nationwide and bring in charges.

pkjules

I was refused 1st time for Gold classic account and phoned to find out why as I could not think of any reason. I was asked where I submitted my online application from and truthfully told them I was in Spain on holiday, I was asked if I was a UK resident, which I am and was told it was declined as I submitted it from a foreign IP address. He arranged for someone to call me back and take details for a new application and my account has now been opened.

Does any one know what exchange rate N&P use? I was told it was Visa rate, then someone else said it was the tourist rate.

ferf1223

if it was the tourist rate there's no way it would have gotten the thumbs up from MSE.

Kati_Whitaker

I am travelling to russia and taking my halifax clarity card for credit card payments but if I want to withdraw cash they will charge interest on the cash advance. is there any reason why I shouldn't preload it with credit to cover any ATM withdrawal while I am there. if i am in credit i should not be paying interest right? i did ask halifax if there were any reason why i should not do this>? they said they didnt advise it- presumably because they can;t make any money out of that arrangement? can anyone comment on whether this is a feasible way to avoid interest payments? I woudl have used my nationwide debit card but they are now charging

Inactive

Kati_Whitaker wrote: »

I am travelling to russia and taking my halifax clarity card for credit card payments but if I want to withdraw cash they will charge interest on the cash advance. is there any reason why I shouldn't preload it with credit to cover any ATM withdrawal while I am there. if i am in credit i should not be paying interest right? i did ask halifax if there were any reason why i should not do this>? they said they didnt advise it- presumably because they can;t make any money out of that arrangement? can anyone comment on whether this is a feasible way to avoid interest payments? I woudl have used my nationwide debit card but they are now charging

It is against their T&C's to load a positive balance.