Halifax Clarity

chattychappy

bobblebob wrote: »

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?

Buying foreign currency in the UK means you will get the "rip off" bureau de change rates. Almost always best to use an ATM overseas. Just be sure to avoid DCC - choose to be billed in the foreign currency and reject local conversion or any amount displayed in pounds. In some places, ATMs levy a local fee (just like in the UK). Despite this, it will still be cheaper than buying cash in the UK.

The exception is the Moneycorp machines discussed above. That is one way of getting certain foreign currencies before you go at a great rate. Again you must reject local conversion and you must use the ATM machines, not the Moneycorp desks.

bobblebob wrote: »

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?

You should never be forced to accept the conversion. Ie they should either simply bill in the local currency or give you the choice. Two examples from personal experience:

1) Geneva airport. The touch screen had a big green square with the correct amount in CHF and the word "OK". Underneath it said "bill my card in GBP at the rate of xxxx" in small letters. In the bottom corner of the screen was a red box with the amount in CHF again, but it said "bill in CHF". So at first glance it looked like an OK or cancel thing. The woman pointed to the green box and said "press here if the amount is correct". Of course the amount was correct. But I pressed the red box to get billed in CHF. She smiled and said "smart man". I was correctly billed in CHF.

2) A Spanish hotel. Passed a portable machine. Amount shown in Euros. I entered PIN and pressed OK/Cancel. Handed back the machine. Then I saw (upside down) it now offered to bill in GBP or Euros. Before I had a chance to say anything, the guy pressed the button to bill in Euros so it wasn't an issue. But I was surprised to see that this was offered AFTER the PIN had been entered.

Typical loadings I have seen on DCC when I've worked it out have been 7% to 9%, though on just one occasion it appeared to be neutral.

Most of my foreign spend is in Asia and DCC seems less common there. Touristy places in Europe seem to be the worst.

Terry98

Is it a new trend for banks ATM's abroad to add a transaction charge to each withdrawal?

I can understand ATM's adding a transaction charge if they are located away from banks, like in the UK, but not in or outside bank branches.

I refused to accept a 5euro charge at a Santander ATM in Spain but had to accept a 2euro charge at a Solbank branch ATM.

PeacefulWaters

Terry98 wrote: »

Is it a new trend for banks ATM's abroad to add a transaction charge to each withdrawal?

USA and Chile have been at it for years. The Spanish seem to have discovered it more recently.

I can understand ATM's adding a transaction charge if they are located away from banks, like in the UK, but not in or outside bank branches .

Genuine question. Why should it make the slightest difference?

lisyloo

Is it a new trend for banks ATM's abroad to add a transaction charge to each withdrawal?

It common in some countries (those I've experienced are US, thailand and Mexico). If it's common then you don't have much choice.

Genuine question. Why should it make the slightest difference?

If there is a fixed charge rather than a % then I would tend to take our larger amounts (and then leave some in a hotel safe).
If there isn't a charge and I have daily access to ATMs then I would go for smaller amounts for increased safety.
There's a trade-off there and you have to use common-sense.

lisyloo

Do restaurants and shops etc always have to give the option of who does the conversion

In my experience you don't always get told.
In some case this might be staff not understanding the consequences or trying to be helpful or just run off their feet.
I now ask to pay in local currency beforehand.

Terry98

PeacefulWaters wrote: »

Genuine question. Why should it make the slightest difference?

ATM charges were in the news recently https://www.theguardian.com/money/2017/oct/30/free-to-use-link-atms-across-the-uk-at-risk-of-being-closed-down

bobblebob

Quick question regarding the clarity card. Just bought something on it now, and its showing pending. When that eventually shows on my transactions as taken, how long do I get to pay it off?


Is it 1 month from the date of the transaction or has it got to be paid by your statement date (whenever that is)?

YorkshireBoy

bobblebob wrote: »

Quick question regarding the clarity card. Just bought something on it now, and its showing pending. When that eventually shows on my transactions as taken, how long do I get to pay it off?


Is it 1 month from the date of the transaction or has it got to be paid by your statement date (whenever that is)?

It has to be paid by the payment due date shown on the statement the transaction appears on. This could be as little as 3 weeks later or as much as 7 weeks later, depending on when in the statement cycle you made the purchase.

bobblebob

Ah ok thanks. Seeing as ive just got the card i dont know when my statement due date is. Im assuming that will show up once purchase shows on the statement

clippy_girl

sorry if this has already been stated, skim read it but couldn't find it.

it is possible to withdraw cash using clarity card and pay no interest at all

if you bank with someone other than halifax then in order to pay it off (unless you do DD) you have to set the card up as a payee from your account. as your bank is not connected to the card your bank has no idea how much your balance is so you can pre-load it.

eg if i'm going away on wednesday, on monday i will transfer say 200 to the card and then it has cleared when i get there and withdraw the cash. as i never owe anything i don't pay any interest

not sure if you do it too far in advance if they would clock on and return it but i always do it this way and never had a problem. don't think you can do this with a halifax account as i know when transfering money from my savings account it always lists the clarity balance.

however as others have said, unless you are going away somewhere with no internet for weeks at a time, its hardly a chore to spend 30 secs doing a payment on an app.

i went to new zealand for 5 weeks and withdrew around 3000 on the clarity, generally pre-loaded it but sometimes forgot and paid it a few days later. i paid about 50p in interest for all that.

also i find its very rare i actually need cash now on holiday so just pay by card and then no faffing.

or get 'cashback' if you are going with other people. when i was in usa with friends they paid their share for all meals etc in cash so i would just take a load of cash and put it on my card with my share. saved me having to pay the usa banks to withdraw money.

it is worth its weight in gold, especially when i was in goa and went to a resort with no atm. the only way to get cash was to go to the travel agents and get them to do a cash advance from your card. my friends paid a fortune in fees for that.