Den Posted August 15, 2008 Share Posted August 15, 2008 I tend to take cash abroad and always feel i've not got the best deal !!! Looked at m@s and the postoffice. Anyone know better? Link to comment Share on other sites More sharing options...
maggyd Posted August 15, 2008 Share Posted August 15, 2008 Den - 2008-08-15 9:56 PM I tend to take cash abroad and always feel i've not got the best deal !!! Looked at m@s and the postoffice. Anyone know better? We take a little cash to get us through a few days but we opened a Nationwide account so we werent paying extra to get our cash out and I noticed on the statement when we came back that we had got a better exchange rate than what we bought from M&S. Link to comment Share on other sites More sharing options...
Den Posted August 15, 2008 Author Share Posted August 15, 2008 Very intresting. I was,nt sure about the rate using the card, but much safer. we'll do the same. thankyou. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted August 15, 2008 Share Posted August 15, 2008 Yes the Nationwide... just back this week from a month in Europe mainly Italy and rate for cash withdrawals from ATM's was 1.26 Link to comment Share on other sites More sharing options...
BGD Posted August 16, 2008 Share Posted August 16, 2008 OP - anyone know better? Yep. Team up with someone (ex pat) who lives in euroland and who wants some GBP's putting into their Uk bank account.....us for example!!!!! Then pay X GBP's into our UK account, come to Spain, and we pay you here an agreed rate of Y euros in cash. We've got a couple of friends who do this, and it's a MUCH better deal for us both ends of the exchange. And it's totally legal. :-D Link to comment Share on other sites More sharing options...
Stuwsmith Posted August 16, 2008 Share Posted August 16, 2008 I have a Nationwide card, haven't used it abroad yet. I understand that Nationwide don't charge for use but do the banks that own the "hole in the wall" make a charge? If they do I would be interested to know which is the best bank to use in France. Any charge from a French bank would of course detract from an otherwise good exchange rate. Link to comment Share on other sites More sharing options...
Den Posted August 16, 2008 Author Share Posted August 16, 2008 Thats right stu I never use hole in the wall and would never pay to get my money. That's why i tend to take cash. Taking out 250£ and paying £1-2 would wipe out gains. Sounds good if your going to spain, i'm not. So still would like to know who offer the best exchange, unless some french banks do'nt charge for getting my own money. I like the pound , but sometimes wish we had the euro. Link to comment Share on other sites More sharing options...
Stuwsmith Posted August 16, 2008 Share Posted August 16, 2008 DenThe banks will get their pound of flesh which ever way you go! It's just a case of giving them the least possible. I am off to France at the end of the week and was planing to take cash "bought" with my Nationwide card off the net. Try the web site www.moneysavingexpert.com. Under the travel transport section you can find the best on line sites for buying currency. After taking in postage charges and convenience the Post Office isn't too bad. Buying off the net might give a slightly better rate than just going into the PO. Its worth checking anyway. I would use a hole in the wall abroad if I was sure I wasn't going to be charged a fee and sure it wasn't going to "eat" my card! The question still is "Do french baks charge for use of their facilities and if so which bank charges the least?" Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted August 16, 2008 Share Posted August 16, 2008 Stuwsmith - 2008-08-16 9:27 AMI have a Nationwide card, haven't used it abroad yet. I understand that Nationwide don't charge for use but do the banks that own the "hole in the wall" make a charge? If they do I would be interested to know which is the best bank to use in France. Any charge from a French bank would of course detract from an otherwise good exchange rate.There are no charges with a nationwide card for withdrawals at ATM's abroad, over the counter withdrawals are a different matter I believe.....when I got back from France in May I noticed that my nat west mastercard rate was only 1.20 effectively tourist rate, so I ordered a nationwide credit card as well and the rate is same as debit card approx 1.26pretty daft carrying large amounts of cash in my opinion from a security perspective, and rate will be worse for an over the counter transaction and they will charge you a fee aswell....with a nationwide card you get bank commercial rate and not tourist rate. Link to comment Share on other sites More sharing options...
Stuwsmith Posted August 16, 2008 Share Posted August 16, 2008 JudgementalThanks for that but do you mean there will be no charges whatsoever if I use my Nationwide card to get cash from a hole in the wall, either from Nationwide, which I know is the case, and from the hole in the wall operator? Sorry to go on but this is what is confusing me. Natiowide in their terms say they don't charge but other parties might. Link to comment Share on other sites More sharing options...
Guest JudgeMental Posted August 16, 2008 Share Posted August 16, 2008 Stuwsmith - 2008-08-16 3:52 PMJudgementalThanks for that but do you mean there will be no charges whatsoever if I use my Nationwide card to get cash from a hole in the wall, either from Nationwide, which I know is the case, and from the hole in the wall operator? Sorry to go on but this is what is confusing me. Natiowide in their terms say they don't charge but other parties might.I have always been lead to believe that no charges from use of ATM's with a Nationwide card and that is our experience....... Just back from a month trip to Italy with probably 30 transactions between me and my wife with credit and debit cards - and no charge plus a rate of around 1.26 as already stated. Link to comment Share on other sites More sharing options...
Guest Tracker Posted August 16, 2008 Share Posted August 16, 2008 We used a N/wide DEBIT card for all our cash in local currency as and when needed in France, Holland, Germany, Denmark, Sweden, Norway and Finland all without a single hitch and all at quite a decent exchange rate and no extra charges. We each have our own current account with a Debit card each as well as a CREDIT card each and whilst there is no charge for using either in the UK for cash or for purchases, there is a charge for using the CREDIT card for cash withdrawals abroad - but not for purchases. This gives us three other options just in case one fails as we also have the N/wide credit cards paid by dd from a different joint account than the a/c with the debit cards. We also always carry enough Euros to buy a tank full of diesel and enough food for a few days..............................just in case none of the cards work! Belt and braces! Link to comment Share on other sites More sharing options...
Mel B Posted August 16, 2008 Share Posted August 16, 2008 So, can we just clarify please as I'm not sure if some of the above refers specifically to the credit or the debit card, or both: Nationwide CREDIT card: 1) Is there a charge by Nationwide for cash withdrawals from ATMs abroad - yes or no? 2) Is there a charge by the ATM owner (ie foreign bank etc) for cash withdrawals from ATMs abroad - yes or no? 3) The exchange rate for the credit card is still around 1.26 euros to £1 (this is our experience also). Nationwide DEBIT card: 1) Is there a charge by Nationwide for cash withdrawals from ATMs abroad - yes or no? 2) Is there a charge by the ATM owner (ie foreign bank etc) for cash withdrawals from ATMs abroad - yes or no? 3) Is the exchange rate as good as the credit card, ie 1.26 euros to £1? Link to comment Share on other sites More sharing options...
Guest Tracker Posted August 16, 2008 Share Posted August 16, 2008 Credit Card 1 YES 2 NO - unless it is hidden in the exchange rate 3 More or less! Debit Card 1 NO 2 as 2 above 3 Identical in our experience Link to comment Share on other sites More sharing options...
Stuwsmith Posted August 16, 2008 Share Posted August 16, 2008 Thanks Mel B for putting it so clearly. I have used a Nationwide credit card for a number of years for buying goods and services and believe it to be one of the best credit cards we have used giving a good exchange rate and no charges, However I have never used it to buy cash as I am pretty sure there would be the normal charge for effectively getting a credit advance. I also now have a Nationwide DEBIT card for the sole intention of using abroad to obtain cash as I know Nationwide do not charge for using the debit card abroad to withdraw cash at an ATM from.From other postings it seems to be there is no charge from anyone else either so perhaps this is a good solution to the original question. Link to comment Share on other sites More sharing options...
maggyd Posted August 16, 2008 Share Posted August 16, 2008 Stuwsmith - 2008-08-16 9:27 AMI have a Nationwide card, haven't used it abroad yet. I understand that Nationwide don't charge for use but do the banks that own the "hole in the wall" make a charge? If they do I would be interested to know which is the best bank to use in France. Any charge from a French bank would of course detract from an otherwise good exchange rate.No they dont charge that is the whole point of the Nationwide card Ive checked my bank statement and cant see any charges.This is the Debit card I dont use Credit cards so I couldnt say if you have a charge on them or not. Link to comment Share on other sites More sharing options...
Mel B Posted August 16, 2008 Share Posted August 16, 2008 Okay ... next lot of questions! We have a Nationwide credit card already and use it to purchase fuel etc when abroad rather than use cash or any other form of payment, so the following is related to: Nationwide DEBIT card: Do you have to have a Nationwide current account to have one? Are there any conditions you have to meet to have one, ie must have X amount in at all time, must have your salary paid into it, etc, etc. I'd prefer to be able to use a DEBIT card to get cash out to save having to take it with us. Link to comment Share on other sites More sharing options...
Guest Tracker Posted August 16, 2008 Share Posted August 16, 2008 A DEBIT card is linked directly to a current account and all 'payments' including cash withdrawals are debited immediately at the exact time (more or less) that they are made, so you need enough in the c/a to cover all likely needs. You need to open a Nationwide current account online or by phone with a deposit of £100 and after that it is up to you how much you need to have in it. The interest rate on a low balance with no regular in payments is .1% and only worth it for the convenience. They also like you to open an e savings account - I can't recall the interest rate but it is not bad but not class leading as I recall. I use mine to feed the c/as. I run ours online and I can shift cash between the two accounts instantly or to and fro N/wide from other accounts by online transfers. It has worked OK so far. If you have salary paid into the c/a the more you pay in the better the interest rate up to - I think - about 3.0% gross. Ask me another. Link to comment Share on other sites More sharing options...
maggyd Posted August 16, 2008 Share Posted August 16, 2008 We opened an account a couple of months before we went in June, you now have to put at least £750 pounds in at 2 or 3 monthly intervals and make regualar payments in, we arranged for our government pension to be paid in each week they give you a form to send off to the pensions dept with your bank account details on. Other than that if you arent receiving a pension I suppose you could set up a direct debit from another bank account. We didnt mind doing this as if we are anywhere in this country and use our other bank account debit card we end up having to pay to use cash machines. Link to comment Share on other sites More sharing options...
Guest Tracker Posted August 16, 2008 Share Posted August 16, 2008 My understanding of the N/wide website is that you can still open an a/c with £100 but you get just .1% interest unless you pay in more and regularly? I guess one will just have to apply and see what comes. If you only get offered unacceptable terms you can always abort the application? Link to comment Share on other sites More sharing options...
sailor girl Posted August 19, 2008 Share Posted August 19, 2008 "My understanding of the N/wide website is that you can still open an a/c with £100" ...Correct - as we did exactly that last week! Liz Link to comment Share on other sites More sharing options...
vindiboy Posted August 21, 2008 Share Posted August 21, 2008 :-( We have just dumped Llyods bank in favour of Nationwide because Lloyds charged us one pound every time we bought with our DEBIT card on the Continent and a percentage charge each time we drew cash from an ATM usually about £3. on 250 euros but didn't charge the £1 on the cash withdrawals. As yet we have not used the new Nationwide card abroad but as we are off to France next week we will be ,They say [Nationwide ] that there will be no charges,we shall see. We had been with Lloyds for about forty five years ,and when we closed our accounts they never even asked why,Am I living in the past or would it have been reasonable of them to wonder why we were taking this action ? *-) Link to comment Share on other sites More sharing options...
maggyd Posted August 21, 2008 Share Posted August 21, 2008 sailor girl - 2008-08-19 7:16 PM "My understanding of the N/wide website is that you can still open an a/c with £100" ...Correct - as we did exactly that last week! Liz Well you were very lucky Liz ! we both made an appointment and went in to our local branch I paid in £1500 immediately ( they didnt stipulate this amount) and we were asked to pay regualar amounts in for 2 months, and Im sure it was about £700 we paid in another amount the next month and arranged for our Gov pension to be paid in. I cant see that they can have different rules for different branches can you?Anyway it gave us peace of mind when we were away for 6 weeks that our funds wouldnt run dry! oh and they asked if we would like a free overdraft of £900. Margaret. Link to comment Share on other sites More sharing options...
little-jack Posted August 21, 2008 Share Posted August 21, 2008 I've used Nationwide Debit and Credit cards abroad for the last 10 years - only the debit card for cash withdrawals of course. Have always found the exchange rate from Nationwide on both cards was better than being offered by any other outlet. Never been charged for drawing cash on debit card in France/ Spain/ Portugal. In France last year cash machine did not dispense money (but returned card) got a note from the bank, when reported to Nationwide on return, money was refunded within 7 days. little jack Link to comment Share on other sites More sharing options...
Guest Tracker Posted August 21, 2008 Share Posted August 21, 2008 Open and manage all your Nationwide accounts online to avoid jobsworths in branch offices. Link to comment Share on other sites More sharing options...
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