Using a Debit card overseas

Phipsy101

Hi all,

Looking for some advice on how to save some money while using my debit card in a different country (Hungary).

I am
Being sent to work in Hungary from my UK company for upto a 2 year term. Does anyone know of any bank accounts or ways around paying the regular debit card charges most banks charge.

I have a Lloyd’s account and a Barclays account. I have spoken to both banks who offer no accounts without charges

Thanks in advance

Duckyduck

Will you continue to be paid in GBP into your British current account? If so opening an account with Starling is probably your best bet - currently no fees for fx transactions, and no cap on cash withdrawals (well just standard daily caps like any bank) amount other benefits.

2 years is a long time though so you’d probably find it easier to open a Hungarian account for your day to day expenses.

fiat_lux

Look at Starling or Metrobank.

moneysavingexpert.com/credit-cards/travel-credit-cards/#debit

Phipsy101

Yes I will continue to be paid in GBP into my UK account, although it will be a 2 year period it will not be solid, I am yet to finalise T&Cs but it will be something like a long weekend in the UK each month.

Thank you I will look into Starling and Metro bank 👍🏻

d123

Another recommendation for Starling Bank. Works really well, and no foreign charges.

Terry_Towelling

What is your company doing to help you through this?

Phipsy101

@Terry, a really big pay rise! With my current financial situation it’s an offer I can’t refuse.

As I mentioned I am yet to agree to any terms and conditions so if there’s anything you can suggest I’m all ears! I have a meeting with them next week to discuss my terms.

Thank you

PRAISETHESUN

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

A few options - get a overseas travel credit card, use this for purchases and then pay off your GBP statement from your existing bank account(s). Alternatively Monzo/Starling/Metro Bank are all good current account options which have been mentioned above.

Opening a local Hungarian account may also be an option, using services such as Transferwise to periodically move GBP across - but its probably easier to use one of the other options I've mentioned.

20SmthngSver

You want an overseas credit card which will incur no charges for using abroad.

Barclaycard Platinum(can withdraw forerign cash interest free for 5 years)
Santander Zero (I withdrew Malaysian currency and it was only like 15p interest on £40)
Halifax Clarity, are just a few.

Everyday Creation is another

There are so many. Look on the Travel section on MSE, and go on Top Travel Credit Cards. There's also a checker where you can check what fees a debit or credit card will charge per £100 spent.