Halifax Clarity Card - Overseas Withdrawals

fifeken

Takmon wrote: »

Now that you can get cards like Starling and the Barclaycard Credit Card with no interest on withdraws nobody should be using the Halifax Clarity for cash withdrawals. It's also good to have a couple of different cards so apply for one of these for next time your away.

The Barclaycard one is no longer available to new applicants so the Halifax Clarity is now top of the MSE recommendations again. Starling is a good call if wanting a Debit Card.

OP. If you decide on the Halifax you may want to change or cancel your Direct Debit as many card issuers will take the DD for the full amount even if manual payments have beeen made. I'm sure someone will let us know if Halifax isn't one of these and you can ignore my comment. I have the Halifax Clarity but manage it manually so not sure.

jpow112

Couple of things -

I have a Clarity card, and just used it in Croatia for the first time. The exchange rate for cash withdrawals, making sure that I avoiding the conversion operated by the machine, was exceptionally good. I withdrew £200, and the machine would have charged me £15 more than using the card issuer's rate.

When I made a cash withdrawal, it took 2-3 days for the amount to show up online. The app prevents you from making a payment during this time, as you cannot pay more that you owe.

If you pay the cash withdrawal amount straight away, perhaps from another halifax account, it takes 2-3 days for it to appear in your clarity statement. If you do it too soon, before the cash purchase appears, your payment might be paying off a goods purchase, that did not attract a daily interest charge anyway - so timing is of the essence.

I reckon that you should wait 2 days after the cash purchase before paying it.

The amount of interest you are going to pay is going to be pennies anyway, so not worth worrying too much.

Also, some foreign ATMs are difficult to read, so make sure you don't select the local conversion rate in error. Some screens are dim and scuffed - chose your machine well - ideally one attached to a bank rather than the tourist ones next to the attractions.

chattychappy

Takmon wrote: »

Now that you can get cards like Starling and the Barclaycard Credit Card with no interest on withdraws nobody should be using the Halifax Clarity for cash withdrawals. It's also good to have a couple of different cards so apply for one of these for next time your away.

Starling is a debit card. I very much prefer using credit cards where the regulation if things go wrong is much more pro-consumer.

I shall carry on using my Clarity card, paying pence for a card that has proved very reliable.

Takmon

chattychappy wrote: »

Starling is a debit card. I very much prefer using credit cards where the regulation if things go wrong is much more pro-consumer.

I shall carry on using my Clarity card, paying pence for a card that has proved very reliable.

Yes i would agree that you should use your Clarity card for purchases in shops, toll booths etc because i have found it is more reliable and especially for any purchases over £100.

But i'm not sure what regulation you think is better on Credit Cards for cash withdrawals at a cash machine?. You might as well just use something like a starling card for cash withdrawals so you don't have to pay any interest or have any markers on your credit report.

chattychappy

Takmon wrote: »

But i'm not sure what regulation you think is better on Credit Cards for cash withdrawals at a cash machine?. You might as well just use something like a starling card for cash withdrawals so you don't have to pay any interest or have any markers on your credit report.

For example the CCA1974 rules on credit tokens. Essentially with unauthorised transactions, a CC can only hold you liable for negligence up to £50. This doesn't apply to debit cards. Now I would like to think I am never negligent, but with a CC I never need to have the argument. Also, in the case of a debit card, it's MY money that can be taken in the case of fraud. A swallowed debit card loses me access to MY money. In the case of a credit card, I get a bill and can refuse to pay if it's wrong. If it's swallowed, I have backups. For these reason, I never use my debit card unless necessary. Generally I only use it in my card reader to authorise online transactions and it remains locked up. In fact I even use Clarity to withdraw cash in the UK.

In summary, using a CC rather than debit card acts as a "fire break" between a world of fraud and compromised ATMs and my current account. Maybe I'm paranoid, but I have experienced fraud and for the pennies involved, it's the cheapest insurance I have.

On the issue of "markers", unlike a late payment, there is nothing "wrong" with making an ATM withdrawal - its a service promoted. I have cash markers every month on two cards at least. I've never had a problem getting credit, and my Experian score is 999 for those that believe in such things. I'm pretty certain that it is only negative when combined with other factors - eg late payments, overlimit or paying minimums only.

Ciprico

jpow112 wrote: »

Couple of things -

I have a Clarity card, and just used it in Croatia for the first time. The exchange rate for cash withdrawals, making sure that I avoiding the conversion operated by the machine, was exceptionally good. I withdrew £200, and the machine would have charged me £15 more than using the card issuer's rate.

When I made a cash withdrawal, it took 2-3 days for the amount to show up online. The app prevents you from making a payment during this time, as you cannot pay more that you owe.

If you pay the cash withdrawal amount straight away, perhaps from another halifax account, it takes 2-3 days for it to appear in your clarity statement. If you do it too soon, before the cash purchase appears, your payment might be paying off a goods purchase, that did not attract a daily interest charge anyway - so timing is of the essence.

I reckon that you should wait 2 days after the cash purchase before paying it.

The amount of interest you are going to pay is going to be pennies anyway, so not worth worrying too much.

Also, some foreign ATMs are difficult to read, so make sure you don't select the local conversion rate in error. Some screens are dim and scuffed - chose your machine well - ideally one attached to a bank rather than the tourist ones next to the attractions.

Please excuse my ignorance, I haven't used a CC abroad to draw cash for a long time as in the past was always very expensive and last resort. Off to Vietnam soon, no option to buy currency over here, so dependent on DC, CC and cash. I have just requested a Halifax Clarity Card.

...is it obvious when the machine asks for "local Conversion rate?"

I have been asked in restaurants/shops if I want to use local or Sterling ?(I know - always choose local).

...but when pulling cash from ATM - we are advised not to use local...?

Have I got this right

Thanks.....

[Deleted User]

No. Always local.

Takmon

chattychappy wrote: »

For example the CCA1974 rules on credit tokens. Essentially with unauthorised transactions, a CC can only hold you liable for negligence up to £50. This doesn't apply to debit cards. Now I would like to think I am never negligent, but with a CC I never need to have the argument. Also, in the case of a debit card, it's MY money that can be taken in the case of fraud. A swallowed debit card loses me access to MY money. In the case of a credit card, I get a bill and can refuse to pay if it's wrong. If it's swallowed, I have backups. For these reason, I never use my debit card unless necessary. Generally I only use it in my card reader to authorise online transactions and it remains locked up. In fact I even use Clarity to withdraw cash in the UK.

In summary, using a CC rather than debit card acts as a "fire break" between a world of fraud and compromised ATMs and my current account. Maybe I'm paranoid, but I have experienced fraud and for the pennies involved, it's the cheapest insurance I have.

Obviously i'm not suggesting that you use a Starling Account or similar for all your banking i'm just suggesting that you transfer money in then use it to withdraw cash when abroad.

Considering that you are quite risk adverse i would have thought an account with minimal funds in it where you transfer in money as you need to withdraw it would be quite appealing too you.

You could have also got the Barclaycard Credit Card as a backup to use abroad because this charges no interest on cash withdrawals if paid off by the statement, so is actually better than the Clarity but someone has said it's no longer available for new applicants unfortunately.

chattychappy wrote: »

On the issue of "markers", unlike a late payment, there is nothing "wrong" with making an ATM withdrawal - its a service promoted. I have cash markers every month on two cards at least. I've never had a problem getting credit, and my Experian score is 999 for those that believe in such things. I'm pretty certain that it is only negative when combined with other factors - eg late payments, overlimit or paying minimums only.

Yes it does seem not to be a negative for people who manage their credit well but it's always something i mention just in case someone has a credit file not as clean.

rjmachin

123mat123 wrote: »

...but when pulling cash from ATM - we are advised not to use local...?

I believe it is when the ATM asks if you want to withdraw money with or without conversion, you should always choose without conversion.

So, for Euro's for example, you withdraw 100 euros, choose without conversion. The ATM charges the bank at home 100 euros and the bank does the conversion back to GBP instead of the ATM

chattychappy

123mat123 wrote: »

Off to Vietnam soon, no option to buy currency over here, so dependent on DC, CC and cash. I have just requested a Halifax Clarity Card.

...is it obvious when the machine asks for "local Conversion rate?"

I have been asked in restaurants/shops if I want to use local or Sterling ?(I know - always choose local).

...but when pulling cash from ATM - we are advised not to use local...?

Have I got this right

Thanks.....

Vietnam is my second home...!

First off all, I've yet to encounter an ATM which offers you the dodgy option of being billed in GBP. You stick the card in, choose how much dong you want, and out it comes. Most impose a small local charge.

If you are given a choice, insist on being billed in local currency, ie VND (Vietnamese dong). Reject "conversion" to GBP. Now in Vietnam, sometimes, point of sale machines work in USD. In this case you have to accept the USD amount. You won't be ripped off - the USD amount will likely be fair (if the menu/hotel rate is quoted in USD, it should be the same) and you will get Clarity's conversion rate to GBP.

Some websites say you should carry USD to Vietnam. There is absolutely no need to do that. If you have some spare, by all means VN is a good place to use them up. Touristy places often display USD prices but will happily take Dong and won't rip you off in the conversion.

As a backup to to Clarity, it might be worth taking some clean, untorn GBP50 notes. Changing cash in Vietnam is relatively efficient. They tend to quote a good rate and that's it. No commissions etc. But only use licensed places. You won't get a better rate on the "street" but may get fake notes or damaged notes which will be difficult to spend.

Main thing is to familiarise yourself with the currency. It is roughly VND30,000 to the pound. So be clear in advance how much you want to withdraw. VND1million (six zeros) is about £34.

Bear in mind that using a card in shops can be a palaver. More local people are using cards now, but it can still involve extra fees, going to a special till or even waiting whilst phoning the bloke next door to bring the machine around. Hotels and touristy places are more on the ball. I tend to use VND cash. In the very unlikely event they bring out an old manual imprinter machine I would abandon the transaction. If you go ahead, make absolutely sure that every unused box is crossed through.