Halifax Clarity

YorkshireBoy

adindas wrote: »

So are you expecting interest free on cash withdrawal with creditcard ??
Have you ever seen a creditcard works like that.

I do not think any credit will ever give you interest free period on cash withdrawal for obvious reason.

Doesn't one of the Barclaycards offer up to 56 days interest free on non-sterling forex cash withdrawals? Yes there's a fee of course, but it is "interest free".

Saga offers up to 55 days "interest free" on cash advances, with a smaller fee.

Others have also offered it in the past.

bspm

No_6 wrote: »

Just use mine to pay for anything but not to get cash.
Always a good transfer rate and a few weeks to pay it off.

Also you get £20, it you have a existing card and use it abroad
b4 end of March 2018

I thought this £20 incentive was only for new accounts not existing ones?

eDicky

nickw56 wrote: »

Another issue is that there is no way to see what the actual conversation rate is until the statement is available.

Not true - the provisional rate is given immediately after the transaction when it appears as pending on the Halifax app, and the actual rate when it settles a day or two later. There's also the knowledge that you're getting the MasterCard rate without markup, as published by MasterCard (the following day).

eDicky

chattychappy wrote: »

If flying from Gatwick, try the Moneycorp machines. If you use Clarity you can choose "without conversion" and you will get pretty much the interbank rate with no fees. Do not use other branded ATMs (if you can find them), do not use other cards (except Santander Zero), do not use Moneycorp desks.

MoneyCorp and their multi-currency ATMs are also at Stansted and Southend
airports.

The option to select 'Without Conversion' to get the straight MasterCard rate also appears when using the Starling Bank card, Loot prepaid, and Monzo prepaid (probably also Monzo Bank, I have not yet tried).

Regular bank debit cards don't work, most credit cards probably do but there's no point unless they are fee-free like Clarity, Zero etc.

Terry98

bspm wrote: »

I thought this £20 incentive was only for new accounts not existing ones?

Yes, it's only for new customers who apply before 28th February.

A couple of years ago they gave you £5 a month just for using the card!
https://www.moneysavingexpert.com/news/cards/2016/07/halifax-ditches-5-monthly-reward-for-clarity-customers--but-new-online-applicants-can-still-get-it

chattychappy

nickw56 wrote: »

I agree you can pay off the cash withdrawal immediately but that's an extra bit of hassle I could do without when I am on holiday. If travelling in a country where cash is frequently required the interest charges quickly mount up.

I travel alot. On the standard rate, interest will "rack up" at the rate of 1.456%/month. So let's say you have a 4 week holiday, and make withdrawals throughout the trip and pay off on return. Your cash would have cost you just 0.8% on average.

Most people don't have holidays as long as 4 weeks, and couldn't bear to do it without internet anyway!

nickw56 wrote: »

I wanted to point this out because although the Clarity card is a great deal the fact that there is no interest free period on cash withdrawals is something that I suspect most users may have missed.

I doubt whether users of this site would have missed it. A discussion about Clarity is always accompanied by talk of "pre-loading" and "paying off of a few days later so you only pay pence in interest".

Perhaps outside of here, people don't appreciate the interest. Unfortunately they are often stung by DCC too - which is much more costly.

nickw56 wrote: »

Another issue is that there is no way to see what the actual conversation rate is until the statement is available. It's just not quite as perfect as MSE seems to suggest.

Well, of course you can opt for DCC. You will see the rate on the screen and that will be the rate you will get. It might well be loaded by 7%, though. Most solutions where you know the rate up front will be loaded... As for the Clarity rate, it's close the interbank rate, so a quick google will reveal it. Also, most currencies are relatively stable - in the Eurozone, for example, if you look up the Euro rate before you go then you will be within a few % of that during your trip. I have a currency app on my phone.

Clarity isn't "perfect" - occasionally it gets blocked and you are limited to £500 (and limited by your credit limit). I travel alot in Europe and Asia. I haven't found a better way of doing it. Santander Zero operates in a similar way.

lisyloo

I agree you can pay off the cash withdrawal immediately but that's an extra bit of hassle I could do without when I am on holiday.

I too go on holidays where I am remote from internet (last one scuba diving 24 hours from shore) or simply don't want the bother or risk but halifax is still cheaper for interest for a couple of weeks.

If travelling in a country where cash is frequently required the interest charges quickly mount up.

Not usually with Clarity over a few weeks.

Another issue is that there is no way to see what the actual conversation rate is until the statement is available.

It's the mastercard rate with 0% commission. There is no better rate available.

It's just not quite as perfect as MSE seems to suggest.

I don't believe MSE says it's perfect but for a normal holiday even with interest it's LOWER than any other option.

Most people will have free wifi on their holidays and be on facebook etc. but if that's too much hassle (and I agree somtimes you don't want the hassle) then the cost is still the lowest you can get.

PeacefulWaters

nickw56 wrote: »

I agree you can pay off the cash withdrawal immediately but that's an extra bit of hassle I could do without when I am on holiday. If travelling in a country where cash is frequently required the interest charges quickly mount up.

5p per £100 per day isn't going to kill you. B compared to ordering currency in the UK at poor exchange rates it's still better.

As for extra hassle, two minutes online every few days, maybe over a pint that costs more than the interest charged, isn't hassle.

I wanted to point this out because although the Clarity card is a great deal the fact that there is no interest free period on cash withdrawals is something that I suspect most users may have missed.

Nonsense.

Another issue is that there is no way to see what the actual conversation rate is until the statement is available.

There are numerous calculator apps that make it very possible. Plus the insurance of knowing MasterCard rate is best or a whisker away.

It's just not quite as perfect as MSE seems to suggest.

I don't think they imply perfection. But it's notably better value than just about every other option out there.

lisyloo

As for extra hassle, two minutes online every few days, maybe over a pint that costs more than the interest charged, isn't hassle.

Whilst the majority will not be able to unglue themselves from facebook some of us do have a digital detox whether forced or not.

I've been on holidays where there internet is non-existent (diving in the ocean) and also where it's extortionate (try satellite from a cruise ship).

The interest has never been more than the price of a cup of coffee and always cheaper than other options.

It's the best option out there by a country mile.

I was recently shocked at ATM conversion rates of 10% (I believe mexico city airport).

benjus

YorkshireBoy wrote: »

Doesn't one of the Barclaycards offer up to 56 days interest free on non-sterling forex cash withdrawals? Yes there's a fee of course, but it is "interest free".

The Platinum Travel Barclaycard offers interest-free non-sterling cash withdrawals until the statement date. And no, there isn't a fee.