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Santander Edge Credit Card - Using it Abroad

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  • born_again
    born_again Posts: 20,369 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    "A cash transaction fee of 3% (minimum £3) will be charged on all cash withdrawals, including those made abroad. You’ll be charged 29.9% p.a. interest on the cash you take out from the day it’s withdrawn."
    Interesting to note that there is mention of the cash transaction fee being waived if currency is taken from a Santander ATM.
    That is one of the benefits of the Santander Zero credit card if used to withdraw cash - as long as you use a Santander bank located machine abroad.
    It does incur interest, however that can be reduced to a minimal amount, or even nullified by swift online payment in a best case scenario.
    So long as you are not carrying a balance on the account. Otherwise any payment after a statement goes to the previous months balance. Not a cash transaction made in the next billing period👍 
    Life in the slow lane
  • I've read through the Edge credit card offer again and concluded it's worth having for the cashback - 
    Now glad I picked up on this thread.
    My thoughts too - you could also have up to 56 days of interest on the monthly repayments if the money was sitting in an easy access savings account. Not life changing obviously but, might cover the monthly fee on a £500 balance at 5%.
  • safe_hands2
    safe_hands2 Posts: 166 Forumite
    Fifth Anniversary 100 Posts Name Dropper Newshound!
    I've been surprised there hasn't been more talk of this card. I've had it for a couple of months and all working well. I had to open a current account to get it but that wasn't a hassle. I'm not a high spender, but by my current calculations I'll achieve about 0.5% cashback next year when the rate drops to 1%, so thinking of keeping it going forward. Even though that's the same as amex, I can use it everywhere.
  • "A cash transaction fee of 3% (minimum £3) will be charged on all cash withdrawals, including those made abroad. You’ll be charged 29.9% p.a. interest on the cash you take out from the day it’s withdrawn."
    Interesting to note that there is mention of the cash transaction fee being waived if currency is taken from a Santander ATM.
    That is one of the benefits of the Santander Zero credit card if used to withdraw cash - as long as you use a Santander bank located machine abroad.
    It does incur interest, however that can be reduced to a minimal amount, or even nullified by swift online payment in a best case scenario.
    So long as you are not carrying a balance on the account. Otherwise any payment after a statement goes to the previous months balance. Not a cash transaction made in the next billing period👍 
    We are in the fortunate position to be able to pay off the monthly balance on a credit card.

  • You don't have to hold an Edge current account to apply for the Edge credit card, the Santander Everyday current account is sufficient - I suspect a few punters make that erroneous assumption.
  • We have just switched our joint account to the new Santander Edge Current account, got £175 free cash for doing so, a linked 7% saver each and the debit cards work abroud for free including cash machine withdrawels.

    I see the posts above suggest there are charged from cash machines other than Santander ones, but the website states there are no such charges...
  • We have just switched our joint account to the new Santander Edge Current account, got £175 free cash for doing so, a linked 7% saver each and the debit cards work abroad for free including cash machine withdrawals.

    I see the posts above suggest there are charged from cash machines other than Santander ones, but the website states there are no such charges...
  • NoodleDoodleMan
    NoodleDoodleMan Posts: 4,261 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    edited 19 July 2024 at 4:04PM
    In Spain and the Canaries eligible Santander UK DEBIT cards are only fee free if currency is taken from a fully branded Banco Santander ATM located at one of their branches - inside the premises, or on the wall.
    Otherwise you'll incur a fee if using any other bank owned ATM - with a couple of notable exceptions.
    I suspect that'll be the case elsewhere.
    Santander UK CREDIT cards can have either interest (Zero card) applied immediately at a Banco Santander ATM (as above) or a cash transaction fee (Edge card).
    I've had to write it down in my wee holiday notebook so as not to get confused :D
  • It's not what T and Cs say for new Edge account doesn't specify it needs to be a santander machine same as whatI was told on phone....
  • Nebulous2
    Nebulous2 Posts: 5,666 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 19 July 2024 at 8:25PM
    Liam548 said:
    It's not what T and Cs say for new Edge account doesn't specify it needs to be a santander machine same as whatI was told on phone....

    What you are missing is that the charge is not made by Santander. It is made by the bank / institution which owns the ATM. 

    Santander has no responsibility for, nor control over that.

    They can however waive it for their own machines. 
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