Metro Bank free European transactions?

Dotty12

Has anyone used a Metro Bank card in Europe before? According to their website they don't charge fees for transactions or cash withdrawals in Europe but I'm a little sceptical.

I've had a look at "Using your Metro debit card abroad" PDF on their website but I don't really understand these things when it comes to exchange rates etc

https://www.metrobankonline.co.uk/bank-accounts/i-want-some-information-about/using-my-card-abroad/


Will using their card for transactions and/or withdrawals offer me the best possible exchange rates?

PRAISETHESUN

I haven't used them before, but it sounds like a pretty good option. They won't charge fees for overseas transactions or cash withdrawals within Europe (their T&Cs specificy which country they consider Europe) - some ATM providers might charge their own fees however so cash withdrawals might not be completely fee-free however.

As for the exchange rate, it looks as though they use the Mastercard rate - this is one of the most competitive out there so it is basically the best you can as a consumer.

veryintrigued

Yep - used one for years. All good.

It USED to be worldwide free!

Assume you've looked at this?

https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/

londoninvestor

PRAISETHESUN wrote: »

I haven't used them before, but it sounds like a pretty good option. They won't charge fees for overseas transactions or cash withdrawals within Europe (their T&Cs specificy which country they consider Europe) - some ATM providers might charge their own fees however so cash withdrawals might not be completely fee-free however.

Agreed - never had any nasty surprises from Metro, including non-eurozone countries like Denmark and the Czech Republic.

As for the exchange rate, it looks as though they use the Mastercard rate - this is one of the most competitive out there so it is basically the best you can as a consumer.

Realistically yes. The Mastercard rate is typically about 0.2 - 0.25% off the interbank rate for GBP/EUR - though that varies a bit from day to day. In principle you can do better with Revolut and get the pure interbank rate - but that comes with ifs and buts (you have to transact during the working week and you're limited to £200 of withdrawals per month).

agrinnall

It's pretty much the only thing I use my Metro account/card for, and I've never had any problem at all with it.

Dotty12

Thanks for all your replies it sounds like its the real deal then!

londoninvestor wrote: »

Realistically yes. The Mastercard rate is typically about 0.2 - 0.25% off the interbank rate for GBP/EUR - though that varies a bit from day to day. In principle you can do better with Revolut and get the pure interbank rate - but that comes with ifs and buts (you have to transact during the working week and you're limited to £200 of withdrawals per month).

Just googled revolut and it sounds too complex for an oldie like me :rotfl:

If metro debit card is the next best thing then i'll go for that as it seems straightforward enough

So basically if I use the metro debit card, would you say it would be pretty unlikely i could get better rates from a physical currency exchange shop either in UK or the European country I'm in?

I'm not that bothered as the main advantage for the metro card is the pure convenience of it. As long as im not getting totally ripped off with metro i will apply for an account.

I bank with Barclays in the UK and just looked up their rates for abroad and its a joke. 2.75% fee :mad: forget that!

https://www.barclays.co.uk/travel/using-debit-card-abroad/

eDicky

Dotty12 wrote: »

So basically if I use the metro debit card, would you say it would be pretty unlikely i could get better rates from a physical currency exchange shop either in UK or the European country I'm in?

Definitely. Exchanging cash is a mug's game, will cost you 3%+ more than the MasterCard rate (on the same day).

I've used Metro Bank debit card for years around Europe. MasterCard is not always accepted locally in countries such as Netherlands but you can just take some cash from an ATM.

Always pay in the local currency if the payment terminal gives the choice to bill you in pounds, and decline any offer by an ATM to convert your pounds by selecting 'Without Conversion' or similar.

Dotty12

eDicky wrote: »

Definitely. Exchanging cash is a mug's game, will cost you 3%+ more than the MasterCard rate (on the same day).

I've used Metro Bank debit card for years around Europe. MasterCard is not always accepted locally in countries such as Netherlands but you can just take some cash from an ATM.

Always pay in the local currency if the payment terminal gives the choice to bill you in pounds, and decline any offer by an ATM to convert your pounds by selecting 'Without Conversion' or similar.

Thats great. Thank you! Will be applying for a Metro card as soon as possible.