withdrawing money from banks abroad

Morbyd said:
I repeat - if a Nationwide card is a Visa or Mastercard, then it will have no effect on the exchange rate. Those are set by the payment system.

The most that the card could offer you would be a lack of additional fees for withdrawing cash abroad... which is attractive enough if your current bank rips you off...
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it advertises no fee, and cant be a matsercard as its a UK current account. mastercard only deal in credit cards
 
Using card abroad

last year i got paid while i was out, i went for a week n took enough cash for my first day and hotel deposit, then about 500 quid in travellors cheques. Ther were loads of atm's so i just drew it from my normal bank account it only cost a couple of quid so it's pretty easy and safe. i'll be doin same again this year, i looked at the post office cards which don't cost but for the few quid u'll get charged it aint relly worth the hastle
 
kallum said:
i looked at the post office cards which don't cost but for the few quid u'll get charged it aint relly worth the hastle
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the post office are scaming you with that card, if you read the small print it details the charges they will put on when you withdraw your cash over there..beware
 
kay_d92 said:
the post office are scaming you with that card, if you read the small print it details the charges they will put on when you withdraw your cash over there..beware
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I've had a look at this, the charges just equate to what you would do cashing your travellers cheques as I read it, there is a one off £10 charge to have the card. I'm thinking of getting one to use alongside my travellers cheques, cash card and the dosh already changed incase I lose any of them. Given my messy state in Ibiza I have to be grown up in advance you see;) :D
 
butters1986 said:
it advertises no fee, and cant be a matsercard as its a UK current account. mastercard only deal in credit cards
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That's interesting, because my Euro-denominated bank acount has a MasterCard debit card :roll:

Nationwide's "no fee" probably refers to withdrawal charges. It certainly has nothing to do with the exchange rate.

If it's not M/C, then what network is it on? Visa? Visa Electron? Maestro (which is just a junior M/C). It's got to be attached to some international network to work overseas.
 
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While exchange rates change daily, what you get always depends on the ‘Visa/Mastercard wholesale rate'. It's about the best exchange rate possible, as it reflects currencies' real interchange value.

This should mean more Euros, Dollars or Costa Rican Colons per pound, but unfortunately almost all cards secretly add a ‘load', an extra charge usually of 2.75%. So the higher the ‘load' the worse the exchange rate you get. This means £100 worth of Euro spending costs you £102.75. Worse still, it isn't broken down on statements so you won't notice [Quote/]

Blatantly stolen from another site, but it shows that it's not just the fee for withdrawing abroad that banks charge. Nationwide don't add this load fee so are much cheaper. I opened an account with them this morning for this reason (I needed one to get away from Barclays anyway after the amount they screwed me over for)
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