Halifax Clarity card cash fees

Ash_Pole

I went to Spain and drew out €70 in cash costing £60.23 on 24th November.

My statement says I was charged £3.81 interest on 2nd December.

This seems a bit much to me, anyone know how this is calculated?

I do use the card in the UK too but I have a dd to pay off the balance in full each month on the 28th.

zagfles

Ash_Pole wrote: »

I went to Spain and drew out €70 in cash costing £60.23 on 24th November.

My statement says I was charged £3.81 interest on 2nd December.

This seems a bit much to me, anyone know how this is calculated?

I do use the card in the UK too but I have a dd to pay off the balance in full each month on the 28th.

It's far too much, either you've misunderstood the statement or the interest is for something else as well.

You're not confusing the actual interest charged with the meaningless "estimated interest" amount that all banks now have to put on their statements to confuse people are you?

Andy7856

shazkhan111 wrote: »

I want to take out cash on my Halifax Clarity card abroad. I understand there are no fees for doing this, only interest.

My card is currently in credit by £100 - if i take £100 (currency equivalent) will i incur a charge for this?

Thanks

You will be charged interest from the point of withdrawn (taken from some of the credit balance you have), plus any cash point fees.

To be honest the interest you will be charged is so little, as you are on holiday, why worry about it just enjoy your holiday, and pay off straight away when you get back.

If you can, "shop around" when using a ATM. In many countries I have found a row of ATMs from different bank sat side by side often charge different fees.

Ballard

Neil49 wrote: »

Starling has a daily atm withdrawal limit of £300 (which applies in both the UK and abroad)

I’ve just logged on to check and that’s right. £300 total with a maximum of 6 withdrawals per day. There’s also a £10,000 limit (50 transactions per day) for debit card transactions.

Jacob_Smith

Does buying currency at an exchange kiosk count as a cash withdrawal in terms of intrest accruing straight away?
TIA

Westin

Jacob_Smith wrote: »

Does buying currency at an exchange kiosk count as a cash withdrawal in terms of intrest accruing straight away?
TIA

Yes it will.

stevie11

the.weekender wrote: »

....
So if I withdraw say £500 in Thai money from a Thai ATM it will cost me just added interest on the £500 plus the Thai ATM charge of 200 baht, about £5? Snip
TIA

're Thailand, ATM withdrawals using Clarity. I found on my first visit that exchange rates were inferior to exchanging currency. Using Clarity for purchases in shops and restaurants, the rate is what I would have expected. Subsequent trips I try to take enough Bahts with me to cover everyday spends.

fifeken

stevie11 wrote: »

're Thailand, ATM withdrawals using Clarity. I found on my first visit that exchange rates were inferior to exchanging currency. Using Clarity for purchases in shops and restaurants, the rate is what I would have expected. Subsequent trips I try to take enough Bahts with me to cover everyday spends.

This is just so wrong in almost every way.

In a regular ATM withdrawal, the exchange rate is set by the payment processor, usually Visa or Mastercard and would normally be slightly better than the best exchanges, and would be the same on any given day as the rate used for purchases. If you believe you've experienced worse rates I suspect you haven't taken in to account the ATM fee or have allowed the ATM to do the conversion for you.

Taking baht with you from the UK is never a good idea given the exchange rates available here.

stevie11

fifeken wrote: »

This is just so wrong in almost every way.

In a regular ATM withdrawal, the exchange rate is set by the payment processor, usually Visa or Mastercard and would normally be slightly better than the best exchanges, and would be the same on any given day as the rate used for purchases. If you believe you've experienced worse rates I suspect you haven't taken in to account the ATM fee or have allowed the ATM to do the conversion for you.

Taking baht with you from the UK is never a good idea given the exchange rates available here.

Sorry that is my experience of using Clarity after 5 or 6 trips to Thailand. I am happy to use in shops and restaurants using local currency conversion but not for cash withdrawals at an ATM.

I have used clarity for cash withdrawals in many other countries and had favourable rates doing so.

NoodleDoodleMan

Is there anything in Halifax's T&Cs to stop me transferring from Thailand nearly £500 from my Santander online account into the Clarity account to stop interest building up, and then repeating this procedure if I spend out.

You might want to consider a Santander Zero credit card - it has the same "user friendly" no fees, other than interest, when drawing cash from a foreign ATM.

I have the Santander online banking app on my mini iPad - it's easy to transfer funds from an Everyday or 123 account to pay the credit card balance very quickly.

Alternatively you could have a Halifax (or Bank of Scotland) current account and use their app in similar manner with the Clarity card.