Debit card use abroad

TheWoodler

I’ve had a message from Lloyd’s (dated 10 March) that they’re removing local currency fees from debit card use from 14 April. 

I was thinking of using my Lloyd’s card on my cruise as I don’t want to use cash when spending in NOK, SEK and DKK - I don’t think it’s worth the fees for the limited sums for a day each for number of separate currencies.

It’s not my main account but I have a strong history of using it, so it also feels like a safe option on both counts (I’ve used Chase previously but it won’t be an option now.)

Are there any other options or have I missed anything? I do have a backup in FD so not confined to one card.

daveyjp

There are now plenty of Forex free options.  I prefer a credit card as it has always been trouble free and I get some cash back.  For back up and emergency cash withdrawals I have a Starling account.

If Lloyds and FD are both forex fee free no reeason not to use them.  You won't need cash in Denmark, Sweden or Denmark, they were all very much cashless 15 years ago.  Don't forget if you buy more expensive items you can claim the local purchase tax/VAT back.

flaneurs_lobster

Seems that Lloyd's (and others eg Barclays) have adjusted their card proffer to take up any slack in the market left by Chase's retrenchment. Note that Chase is still fee-free overseas, even when they end overseas cashback on April 7. Don't think using Lloyd's would be a problem.

MSE have updated their advice re best overseas card 

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

TheWoodler

Thank you both for your insights, especially on the cashless society and links to most recent offers: I normally travel to the eurozone and/or spend long enough in a place to justify having some cash for incidentals.

The Barclays card meets my needs so I’ve applied for one - thanks for alerting me to that offer.

I’m definitely getting a sense that Barclays and Lloyd’s are going for the ex-Chase market in terms of their conditions and timing. (I’m not using Chase now for reasons beyond the cashback retrenchment, but that’s a separate conversation.)

TwiceNightly

Bear in mind that it looks like it's only the paid Lloyds accounts that get this feature, Silver and Platinum, not sure if that makes a difference to you?

I'd be interested to know your reasons for not using Chase?

flaneurs_lobster

TwiceNightly said:

Bear in mind that it looks like it's only the paid Lloyds accounts that get this feature, Silver and Platinum, not sure if that makes a difference to you?

The fee-free 'perk' is available for Club account holders, which may be £3 (soon to be £5) / mth but that's waived if you wash £2k/mth through the account.

Dunno about the free current accounts, don't have one.

TheWoodler

Yep, I can confirm that this was an ordinary Club Lloyd’s where I received this new communication. 

Olenna

TheWoodler said:

Yep, I can confirm that this was an ordinary Club Lloyd’s where I received this new communication. 

Lloyds 'ordinary' account is a Classic Account and charges for overseas usage.
Club Lloyds is a fee based account (£3/£5 per calendar month) with a fee wavier.

Chase, First Direct and Starling are already fee free for overseas usage.
Chase also gives free access to Chase's large US ATM network.

prettyandfluffy

Olenna said:

Chase, First Direct and Starling are already fee free for overseas usage.

Also Virgin Money current account,

TwiceNightly

Is Chase generally still a favoured option? Even after all the recent changes, Trump, etc?

Or are people mostly moving back to older banks who are now starting to offer fee free use abroad?

TheWoodler

Olenna said: 

Lloyds 'ordinary' account is a Classic Account and charges for overseas usage.

Club Lloyds is a fee based account (£3/£5 per calendar month) with a fee wavier.

I used ‘ordinary Club Lloyd’s’ to mark the distinction from Club Lloyd’s Silver, Platinum etc alluded to upthread. 

I didn’t say ‘ordinary Lloyd’s account’.