Withdrawing Monies In Europe ATM's

russellsnr · 1 December 2017 at 12:20PM

Hi, Live in Europe but have bank A/C in the UK.
We have monies sent montly via money broker but on occassion need to get a little extra from the back-up fund that we leave in the UK, problem is the charges for withdrawing monies from an ATM are way OTT so looking for the best option/s to get that little bit extra when we need it? Asked the question from the bank about just making a transfer from our UK bank to EU bank and advised that costs £25 per transaction/transfer.
Thank You for any and all advice.
Russ

takman · 1 December 2017 at 12:59PM

The best solution would be to get an account with Starling Bank or similar which allows fee free withdrawals and an almost perfect exchange rate when used abroad. You could then load this card with money and withdraw/spend it as required. You could even use it to replace your monthly broker transfer which i bet will save you a good amount of charges and fees.

But you would need to apply for this card in the UK and have a UK address.

eDicky · 1 December 2017 at 1:15PM

russellsnr wrote: »

a transfer from our UK bank to EU bank and advised that costs £25 per transaction/transfer.

Not only that but they will hit you for ~3% on the exchange rate also.

If you're already using a money broker, why not do the same for your 'little extra'? TransferWise will give you the interbank rate with a 0.5% fee.

Revolut may be useful, free conversion of up to £5000/month (0.5% thereafter) at interbank rate (weekdays) and free to send to your EU account. Card costs a fiver, £200/month limit on fee-free ATM withdrawals but you can use the MasterCard for purchases. Sign up with any European address.

https://www.revolut.com/

russellsnr · 1 December 2017 at 1:17PM

takman wrote: »

The best solution would be to get an account with Starling Bank or similar which allows fee free withdrawals and an almost perfect exchange rate when used abroad. You could then load this card with money and withdraw/spend it as required. You could even use it to replace your monthly broker transfer which i bet will save you a good amount of charges and fees.

But you would need to apply for this card in the UK and have a UK address.

Hi, Thank You for that will look into the Starling option. The broker was recomended from MSE Mr L so do not pay any fees there. Thanks again, Russ

Withdrawing Monies In Europe ATM's

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