Avoiding interest on cash withdrawals abroad?

mufi

I have a Halifax Clarity credit card for overseas use and have recently read that one can load it with cash before travelling, meaning that cash withdrawals will not be treated as a loan, so no interest will be charged.

Does anyone happen to know if this is correct?

[Deleted User]

Pre-loading the card will be against the T's and C's and you could find the card being blocked, or even cancelled at the worst.

System

Get yourself a travel debit card. Monzo, Starling, etc.

foxy-stoat

Rather than pre-loading, why dont you just withdraw the cash from your current account when you need it abroad.....theres thinking outside the box.

System

foxy-stoat wrote: »

Rather than pre-loading, why dont you just withdraw the cash from your current account when you need it abroad.....theres thinking outside the box.

mufi

Many thanks, all. I was merely curious and you've answered my questions.:)

Ben8282

Make your cash withdrawal. Wait for it to be finalised, Repay. The amount of interest charged will be so small that it won't even be worth bothering about. Even if you were to leave it outstanding for a whole month, the interest would only be about £1,50 per £100 withdrawn. really nothing to loose sleep over.

zerog

If you withdraw £105 equivalent, you can pay off £100 immediately and then wait until the transaction posts to pay off the exact remaining amount. Never been charged a penny of interest on my Clarity.

Also pay off any existing balance completely before leaving on your trip, otherwise payments will go towards previous statements first.

Barb1406

I have the Halifax clarity card, and I transfer in advance before my flight, then take it from the airport cash machine, then if I need more I just use the Wi-fi at the hotel to transfer more into the card. I haven’t been charged interest and have done this over 20 times.

It’s a much better way than getting money from post office pre exchanged and plus the rate is pretty much wholesalers rate.

worried_jim

Or as in post 3, simply open a Starling account then there is no faffing about or fees.

[Deleted User]

Barb1406 wrote: »

I have the Halifax clarity card, and I transfer in advance before my flight, then take it from the airport cash machine, then if I need more I just use the Wi-fi at the hotel to transfer more into the card. I haven’t been charged interest and have done this over 20 times.

It’s a much better way than getting money from post office pre exchanged and plus the rate is pretty much wholesalers rate.

If by transfer you mean putting the card into credit then you’re lucky you’ve not been caught out