arzangees Posted October 9, 2007 Share Posted October 9, 2007 just a quick question. What is the best way of withdrawing cash while overwintering abroad? I know many do and would appreciate any advice Link to comment Share on other sites More sharing options...
michele Posted October 9, 2007 Share Posted October 9, 2007 I just use my cards in cash machines I am not sure that this is the best way though. 8-) Link to comment Share on other sites More sharing options...
handyman Posted October 9, 2007 Share Posted October 9, 2007 a nationwide flex account. They dont charge for withdrawing money abroad. You only get charged from the bank you get the money from, normally £1.50. Most other banks also charge £1.50, making it £3 a time. We get £500 at a time, making the £1.50 not too bad. The rate of exchange is the going rate for all banks, so they dont hide their charge in the exchange rate Link to comment Share on other sites More sharing options...
handyman Posted October 9, 2007 Share Posted October 9, 2007 michele - 2007-10-09 8:17 PM I just use my cards in cash machines I am not sure that this is the best way though. 8-) If its a Credit card ?? they are fine as long as you are in credit (if your allowed to), otherwise the bank charges you interest from when you withdraw the money, as well as the charges for withdrawing (nationwide doesnt charge on their credit card either, just immediate interest) Link to comment Share on other sites More sharing options...
Guest starspirit Posted October 9, 2007 Share Posted October 9, 2007 A card usage charge is only half the story the other half is the exchange rate and how on earth can you tell whether a free or cheap deal is really a free or cheap deal without comparing the exchange rates from different banks at the same time on any one given day? And how on earth would you do that? Link to comment Share on other sites More sharing options...
handyman Posted October 9, 2007 Share Posted October 9, 2007 http://travelmoney.moneysavingexpert.com/ if you want to get money before you travel and balls, cant find the thread yet. I'm sure on the same site it said about a base bank rate or something like that for using your card abroad. Most of the banks use this rate. I'll try and find it later Link to comment Share on other sites More sharing options...
handyman Posted October 9, 2007 Share Posted October 9, 2007 its called the 'interbank exchange rate', they almost all exchange at this rate, and then load a charge on this amount (between 1% and 2.5%) Nationwide dont charge this, and they run very very close to the inter rate Heres a typical thread on the subject on MSE http://forums.moneysavingexpert.com/showthread.html?t=565070&highlight=interbank+exchange+rate and another more in depth discussion on the nationwide rate, and what its based on http://forums.moneysavingexpert.com/showthread.html?t=519653&highlight=interbank+exchange+rate Link to comment Share on other sites More sharing options...
twooks Posted October 9, 2007 Share Posted October 9, 2007 You should def use the Nationwide DEBIT card issued with their FlexAccount. Credit cards will charge you interest - they don't seem to care whether you're in credit or not. Nationwide card wins plaudits from all sorts of sources, incl 'money expert' site quoted above and Which. B-) Hi 'cheley :D :D :D :D :D :D :D Link to comment Share on other sites More sharing options...
handyman Posted October 11, 2007 Share Posted October 11, 2007 arzangees any decisions on what you will do ? Link to comment Share on other sites More sharing options...
arzangees Posted October 11, 2007 Author Share Posted October 11, 2007 I think I'll look into the Nationwide flexaccount. Thankyou everyone who gave me their advice. Link to comment Share on other sites More sharing options...
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