Halifax Clarity

Terry98

eDicky wrote: »

Using Clarity or the other credit/debit/prepaid cards that are fee-free overseas will always be cheaper than exchanging cash (on the same day), and with cash there's always the likely extra loss involved in exchanging the excess back to pounds (or spending unnecessarily to use it up).

If you use the Clarity to get cash from an ATM abroad and let Halifax do the conversion you know you will get the best rate.

If you use the Clarity in shops abroad isn't the conversion done abroad? If so using cash from ATM's abroad will give you a better rate.

You have a point about exchanging the excess back to pounds but I usually keep mine for the next trip.

Nebulous2

Terry98 wrote: »

If you use the Clarity to get cash from an ATM abroad and let Halifax do the conversion you know you will get the best rate.

If you use the Clarity in shops abroad isn't the conversion done abroad? If so using cash from ATM's abroad will give you a better rate.

You get the same rate abroad for purchases as you do for cash, as long as you don't accept DCC at the till.

eDicky

Terry98 wrote: »

If you use the Clarity in shops abroad isn't the conversion done abroad? If so using cash from ATM's abroad will give you a better rate.

No, Clarity used for purchases will give the straight MasterCard rate, as long as you pay in the local currency, not pounds. You often have to be careful when the choice is given by the payment terminal that the waiter or shop assistant doesn't select pounds for you. The problem doesn't seem to arise for a contactless payment.

You're right about keeping leftover currency for the next trip - I should edit my use of the word 'always'.

chattychappy

pantaiema wrote: »

If you are interested in Euro or US dollars a few people, I think eDicky and Chatty_cheppy have confirmed that people could use Money Corp machine in the landside of either in [STRIKE]Heathrow [/STRIKE]or Stansted using Halifax Clarity card and get Mastercard exchange rate as long as they let Thea card to do conversion.

emphasis/strikeout added

It's Gatwick, not Heathrow. Yep, apparently Stansted have them also, though I've not been there for years.

Just for clarity (!), on the screen you choose "without conversion". (Which means the card converts, not Moneycorp.)

bobblebob

Just got my clarity card today. Just say i wanted to take abit of cash with me abroad, what gives a better rate:

Changing it into foreign currency in the UK or using the credit card on an ATM over there, and paying it off online the same day?

lisyloo

Changing it into foreign currency in the UK

Cheapest is about 4%

using the credit card on an ATM over there, and paying it off online the same day?

0% (DON'T do conversion)
Letting the ATM bank do conversion for you can be as much as 10% whereas Halifax charge you 0% above the mastercard rate so let Halifax do the conservsion.

However it can be useful to have a little foreign currency in case ATM doesn't work, card doesn't work etc.
I often go with no currency but usually with the knowldege that there's a friendly rep who would help me or ATM's at the nearby town.

bobblebob

So aslong as i use the Clarity card in the ATM i will be charged the Mastercard rate and not the banks ATM rate?

lisyloo

So aslong as i use the Clarity card in the ATM

No - that's not enough.

The ATM will ask you a question along the lines of
"Would you like me (Bank of foreign place) to convert your rupees to pounds sterling?"

If you say "Yes" then the bank who own the ATM will charge you for the conversion - between 3% and 10%.
If you say "No" then your card will be charged in foreign currency and Halifax will do the conversion.

Please pay attention to the exact question as it could be worded differently.
In my experience it's usually a NO to decline conversion.
However the question is worded what you want is foreign (local) currency charged to card and NO conversion.

For this reason it's important to select english (or a language you understand) or try to find an ATM that has english.
If the buttons don't appear to work then be patient and don't press multiple times as that might lead you to select an option you don't want.

I have seen 10% conversion rates in Mexcio city recently.

Note that restaurants and shops also do conversion some without telling you so be careful with that as well. I always ask in advance for local currency.

Restaurants, shops and ATMs will NOT generally give you a good exchange rate.

bobblebob

Thanks for that. Do restaurants and shops etc always have to give the option of who does the conversion (even if they dont tell you?), or is it just pot luck if you got to a place that lets you choose?

eDicky

When a POS terminal is used that recognises a UK (or other foreign) card and offers Dynamic Currency Conversion (DCC), regulations require that the option is always given to declne DCC and pay in the local currency.

However, some businesses in particular countries such as Spain occasionally try, and sometimes succeed if you're not careful, to avoid giving the choice. There's an article about this and some examples are given in this thread:

https://forums.moneysavingexpert.com/discussion/5677965