Halifax Clarity interest when withdrawing cash

CliveOfIndia

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

This article gives lots of information:

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

Several years ago, Halifax Clarity was always recommended as the "Top pick" travel card, as it was one of the very few that didn't charge an FX fee on every transaction.  It was also the cheapest way of withdrawing cash - even allowing for the interest, the fee-free withdrawals meant it was still cheaper than using your debit card (all of which charged a fixed fee for every withdrawal).

It's a little different these days - there are several credit cards which don't impose an FX fee, and there are also debit cards these days which don't charge a withdrawal fee.  So I guess ideally you'd use a travel credit card for spending and a travel debit card for cash withdrawals.

Worth bearing in mind - although these cards won't charge you a fee, the owner/operator of the ATM itself may charge a fee - your card company has no control over this element.

NoodleDoodleMan

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

Be aware that the ATM will almost certainly take a fee, regardless of you having a "user friendly" no fees debit card like Chase etc.

If you are a regular visitor to Spain & Canaries the absolute best option is a Santander UK current account and use the card at a fully branded Banco Santander machine located at a branch, which are in most holiday resorts.

No fees of any type for cash withdrawals.

The Everyday current account is ideal - has no "strings attached" terms and conditions like Direct Debits or minumum monthly funding requirement.

It is also fee free now in several other countries using Santander hole in wall.

*We won't charge you when you use your personal debit card to make withdrawals at Santander cash machines abroad. You'll find our cash machines in Spain, Germany, Poland, Portugal, Argentina, Brazil, Chile, Mexico, Puerto Rico, Uruguay, and the USA. Make sure you choose to pay in the local currency to avoid being charged any other fees.

zagfles

MorningcoffeeIV said:

That's why the OP needs to pay off the cash AND the whole current balance.

The current balance includes all previous transactions.

To be pedantic, you don't need to pay off the whole current balance, just the previous statement balance plus the cash withdrawal. Purchases made since the last statement date don't need to be paid off, as cash withdrawals will be paid off before these. Just make sure the cash withdrawal shows on the account (not pending), usually a couple of days.

ChristopherM87

Looking online, I believe 7 Eleven ATMs in Japan don't charge a fee?

grumbler

NoodleDoodleMan said:

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

Be aware that the ATM will almost certainly take a fee, 

I think it's a too strong statement. I've never been charged a fee. On few occasions when an ATM warned me about a fee I was able to find another one that didn't charge.

zagfles

grumbler said:

NoodleDoodleMan said:

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

Be aware that the ATM will almost certainly take a fee, 

I think it's a too strong statement. I've never been charged a fee. On few occasions when an ATM warned me about a fee I was able to find another one that didn't charge.

It varies by country - some countries it's hard to find fee free ATMs, others it's easy. It's also changing all the time - this year I used the same bank in the same area as last year when it was free, this year they charged.

jbrassy

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

There are several. To name a few:

Starling Bank (max £300 a day)

First Direct (max £500 a day)

Virgin Money (max £500 a day)

Chase (max £1500 a month)

All debit cards which don't charge fees for ATM withdrawals abroad.

NoodleDoodleMan

grumbler said:

NoodleDoodleMan said:

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

Be aware that the ATM will almost certainly take a fee, 

I think it's a too strong statement. I've never been charged a fee. On few occasions when an ATM warned me about a fee I was able to find another one that didn't charge.

I can only speak from personal experience, mostly in Spain and Canaries - anecdotal reports online suggest that more and more banks are imposing ATM fees in other countries.

Also - do holidaymakers really want to trek around ATMs looking to save a few Euros etc. ?

eDicky

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

Why doesn't Revolut 'work' on weekends? If I'm not mistaken it's only for in-app conversion that an extra margin on the rate is imposed during weekends.

Alternatives abound:

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

Do you have a real need for cash, instead of just paying by (fee-free) card..?

ChristopherM87

eDicky said:

ChristopherM87 said:

[Deleted User] said:

It's usually better to use a forex free debit card to withdraw cash  - it doesn't get noted as a cash advance on your credit report either.

Can you recommend one? I have the Revolut but that doesnt work on weekends.

Why doesn't Revolut 'work' on weekends? If I'm not mistaken it's only for in-app conversion that an extra margin on the rate is imposed during weekends.

Alternatives abound:

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

Do you have a real need for cash, instead of just paying by (fee-free) card..?

Yeah that's what I mean. Any foreign transactions on weekends will occur a fee.

Not sure if many people know, but Japan still uses a lot of cash in small shops etc.