enodreven Posted June 17, 2013 Share Posted June 17, 2013 Hi, For anyone that is interested I though I would post an update on our use of a Halifax Clarity card and the charges to obtain €'s Cash We got 2 lots of cash out while in German back in May 2013 8 May 2013 withdrew €500 and the exchange rate shown is 1.19 - £419.81 10 May 2013 withdrew €200 and the exchange rate shown is 1.19 - £167.59 We have the card setup to pay the full balance every month and the full payment was paid on the 7th June 2013 The total interest we have paid together with next months estimate will total £5.40p which I personally think is a very good deal, to have the full use of someone elses money for approximatly 4 weeks and to get a very very good exchange rate its certainly a card I will be continueing to use. Hope that helps Link to comment Share on other sites More sharing options...
Barryd999 Posted June 17, 2013 Share Posted June 17, 2013 Its excellent. The nearer the end of the month you withdraw cash the less you pay. However its best to not use cash as much as possible and pay for everything on the card then you pay nothing. Ill use it even for 2 or 3 Euro purchases. Link to comment Share on other sites More sharing options...
John 47 Posted June 18, 2013 Share Posted June 18, 2013 I agree - an excellent facility and you won't get a better exchange rate anywhere. However, there is a way of paying even less interest! We were in France and Spain from September of last year until April of this, we used the Clarity Card for all our purchases and cash withdrawals and in six months we paid a grand total of 17p interest. This was achieved by paying off all cash withdrawals the same day that we made the withdrawals. You obviously need to have access to the internet to do this on a regular basis but it is a very simple process and takes no more than a few seconds. Link to comment Share on other sites More sharing options...
enodreven Posted June 18, 2013 Author Share Posted June 18, 2013 Hi, John Thats very interesting and very helpful I will certainly bear it in mind for the future, have you looked into, if over paying or building up a credit would achive the same results ? I know building up a credit would make it similar to the prepaid cards but the benifits would be you could still use the unused credit to pay off your normal purchases plus your UK bills and you wouldn't have to change your money back to £. John 47 - 2013-06-18 9:23 AM I agree - an excellent facility and you won't get a better exchange rate anywhere. However, there is a way of paying even less interest! We were in France and Spain from September of last year until April of this, we used the Clarity Card for all our purchases and cash withdrawals and in six months we paid a grand total of 17p interest. This was achieved by paying off all cash withdrawals the same day that we made the withdrawals. You obviously need to have access to the internet to do this on a regular basis but it is a very simple process and takes no more than a few seconds. Link to comment Share on other sites More sharing options...
John 47 Posted June 18, 2013 Share Posted June 18, 2013 enodreven - 2013-06-18 9:36 AM Hi, John Thats very interesting and very helpful I will certainly bear it in mind for the future, have you looked into, if over paying or building up a credit would achive the same results ? I know building up a credit would make it similar to the prepaid cards but the benifits would be you could still use the unused credit to pay off your normal purchases plus your UK bills and you wouldn't have to change your money back to £. John 47 - 2013-06-18 9:23 AM I agree - an excellent facility and you won't get a better exchange rate anywhere. However, there is a way of paying even less interest! We were in France and Spain from September of last year until April of this, we used the Clarity Card for all our purchases and cash withdrawals and in six months we paid a grand total of 17p interest. This was achieved by paying off all cash withdrawals the same day that we made the withdrawals. You obviously need to have access to the internet to do this on a regular basis but it is a very simple process and takes no more than a few seconds. Hi Because cash withdrawals don't seem to be recorded on the account for up to 48 hours and because we pay them off the same day, we are regularly recorded as being in credit for a day or so but I believe that it is against the terms and conditions to leave the account in credit for any length of time - so, presumably, they could cancel your card if you tried to use it as a pre-paid one. But all banks are different and it might be worth asking them if they would allow it. Link to comment Share on other sites More sharing options...
enodreven Posted June 18, 2013 Author Share Posted June 18, 2013 Hi, Good point I wouldn't want to lose the card, I will have a read of the conditions to see if it says anything about being in credit ? How do you actually pay them early, do you just access your own online bank account and transfer money to your halifax clarity card account ? Hi Because cash withdrawals don't seem to be recorded on the account for up to 48 hours and because we pay them off the same day, we are regularly recorded as being in credit for a day or so but I believe that it is against the terms and conditions to leave the account in credit for any length of time - so, presumably, they could cancel your card if you tried to use it as a pre-paid one. But all banks are different and it might be worth asking them if they would allow it. Link to comment Share on other sites More sharing options...
rupert123 Posted June 18, 2013 Share Posted June 18, 2013 John 47 - 2013-06-18 9:23 AM I agree - an excellent facility and you won't get a better exchange rate anywhere. However, there is a way of paying even less interest! We were in France and Spain from September of last year until April of this, we used the Clarity Card for all our purchases and cash withdrawals and in six months we paid a grand total of 17p interest. This was achieved by paying off all cash withdrawals the same day that we made the withdrawals. You obviously need to have access to the internet to do this on a regular basis but it is a very simple process and takes no more than a few seconds. Why would you bother, Brian paid a whole £5.40, what is this two cups of coffee, who cares. We just use our standard HSBC debit card and pay everything with this, decent exchange rate and no charge if you do not draw cash. For cash we just take about £500 worth of euro,s with us and because we pay everything we can by card this lasts us. Why people are obsessed with cards completely beats me, unless you spend tens of thousands of pounds when away the amount you save does not amount to a 'bag of beans'. Link to comment Share on other sites More sharing options...
Addie Posted June 18, 2013 Share Posted June 18, 2013 rupert123 - 2013-06-18 10:14 AM Why would you bother, Brian paid a whole £5.40, what is this two cups of coffee, who cares. We just use our standard HSBC debit card and pay everything with this, decent exchange rate and no charge if you do not draw cash. Being aware of what you're being charged is how you avoid paying fees and get more out of your holiday. For example - your HSBC card isn't really a"decent exchange rate" - your rate is loaded with a 2.75% fee built into the rate. In addition you're not quite right in saying there is "no charge" if you do withdraw cash - you are in fact charged between 2% - £1.75 minimum £5 maximum and 2.75% flat rate, depending on which current account you have, for each transaction. Source: http://www.moneysavingexpert.com/travel/overseas-card-charges & http://www.hsbc.co.uk/1/2/customer-support/card-services/using-your-card - click Foreign Usage Fees Granted if you're only spending £1,000 it's hardly worth changing - but if you're going to be spending a significant time (or money) abroad then something like the Halifax Clarity is great - especially if you can pay it off early! In addition, being a credit card, all purchases and usage is fully insured. We saved over £200 in fees over the course of a year: http://www.europebycamper.com/2012/06/halifax-clarity-vs-caxton-we-saved-over.html Horses for courses. But using and paying off early the Halifax Clarity card is hardly a major inconvenience. Link to comment Share on other sites More sharing options...
John 47 Posted June 18, 2013 Share Posted June 18, 2013 enodreven - 2013-06-18 10:06 AM How do you actually pay them early, do you just access your own online bank account and transfer money to your halifax clarity card account ? Hi Yes, that is exactly what we do. My main current account is with the Nationwide, so I simply log into that account, go to "regular payments", click on the Halifax account that is pre-programmed in and write in the amount. It actually takes less time than using the ATM machine itself. And to Rupert, who asks why anybody would want to bother, my response is that if you spend around half the year abroad then the amount you save comes to several hundred pounds - not to be sneezed at! Link to comment Share on other sites More sharing options...
rupert123 Posted June 18, 2013 Share Posted June 18, 2013 Addie - 2013-06-18 10:33 AM rupert123 - 2013-06-18 10:14 AM Why would you bother, Brian paid a whole £5.40, what is this two cups of coffee, who cares. We just use our standard HSBC debit card and pay everything with this, decent exchange rate and no charge if you do not draw cash. Being aware of what you're being charged is how you avoid paying fees and get more out of your holiday. For example - your HSBC card isn't really a"decent exchange rate" - your rate is loaded with a 2.75% fee built into the rate. In addition you're not quite right in saying there is "no charge" if you do withdraw cash - you are in fact charged between 2% - £1.75 minimum £5 maximum and 2.75% flat rate, depending on which current account you have, for each transaction. Source: http://www.moneysavingexpert.com/travel/overseas-card-charges & http://www.hsbc.co.uk/1/2/customer-support/card-services/using-your-card - click Foreign Usage Fees Granted if you're only spending £1,000 it's hardly worth changing - but if you're going to be spending a significant time (or money) abroad then something like the Halifax Clarity is great - especially if you can pay it off early! In addition, being a credit card, all purchases and usage is fully insured. We saved over £200 in fees over the course of a year: http://www.europebycamper.com/2012/06/halifax-clarity-vs-caxton-we-saved-over.html Horses for courses. But using and paying off early the Halifax Clarity card is hardly a major inconvenience. I really wish people would read posts properly. I never said at any point you did not pay for drawing cash and you will lose an amount built into the transaction whatever card you use. Until last year we spent some six months of the year in europe, four in the van and two skiing. Now you may save £200 a year but it depends on what you base this saving and even so this is not much, less than £4 a week, as i said why bother. Link to comment Share on other sites More sharing options...
rupert123 Posted June 18, 2013 Share Posted June 18, 2013 John 47 - 2013-06-18 10:41 AM enodreven - 2013-06-18 10:06 AM And to Rupert, who asks why anybody would want to bother, my response is that if you spend around half the year abroad then the amount you save comes to several hundred pounds - not to be sneezed at! See my last post about the amount of time we spent in europe each year. Just get a decnt bank and you cannot save several hundred pounds, as you put it. You just need to find the right bank in the first place and stop messing about with other stuff, waste of time. Link to comment Share on other sites More sharing options...
peejay Posted June 18, 2013 Share Posted June 18, 2013 A quick warning to Halifax Clarity Card holders who don't use it very often, say just for holiday use... Ours was set up for direct debit to pay the balance off in full each month. What they don't tell you is that if you have a £0 balance and don't use the card for 3 months then the Direct Debit is automatically cancelled, you get no notification of this. So make sure you check the Direct Debit is still active before you go away or haven't used it for a while. Pete Link to comment Share on other sites More sharing options...
John 47 Posted June 18, 2013 Share Posted June 18, 2013 rupert123 - 2013-06-18 2:54 PM John 47 - 2013-06-18 10:41 AM enodreven - 2013-06-18 10:06 AM And to Rupert, who asks why anybody would want to bother, my response is that if you spend around half the year abroad then the amount you save comes to several hundred pounds - not to be sneezed at! See my last post about the amount of time we spent in europe each year. Just get a decnt bank and you cannot save several hundred pounds, as you put it. You just need to find the right bank in the first place and stop messing about with other stuff, waste of time. Strangely aggressive when people are trying to help others save money! As stated above, the Clarity Card gives the bank rate of the day (you won't get a better rate) and charges nothing for withdrawals if you pay it off as I suggest. I know of no Debit Card that doesn't charge - usually around 3%. If you are away for 6 months then 3% comes to a lot of money (hundreds of pounds in my case). You may not be bothered about saving it but I am sure there are many people who are. And, as I said earlier, if you set it up online, paying off the withdrawals takes less time than waiting at the ATM machine, so it is hardly any bother. Link to comment Share on other sites More sharing options...
Minicamper Posted June 20, 2013 Share Posted June 20, 2013 Hey, if anyone has £200 a year they don't want, I'll take it! Seriously, I have been thinking of a Clarity card, so most of these posts have been useful, and informative, so thanks. Link to comment Share on other sites More sharing options...
lennyhb Posted June 20, 2013 Share Posted June 20, 2013 Henry is in a different league & frame of mind to the rest of us if he is not worried about throwing away a couple of hundred quid and can afford to stay on CC sites. :D Link to comment Share on other sites More sharing options...
rupert123 Posted June 20, 2013 Share Posted June 20, 2013 Minicamper - 2013-06-20 7:56 AM Hey, if anyone has £200 a year they don't want, I'll take it! Seriously, I have been thinking of a Clarity card, so most of these posts have been useful, and informative, so thanks. Actually I would agree but £200 a year is a fairy story unless you were getting the worlds worst rate in the first place. I reckon I would be lucky to save £20, for that, as I said, why bother. Link to comment Share on other sites More sharing options...
enodreven Posted June 20, 2013 Author Share Posted June 20, 2013 Hi, I didn't start this thread for it to turn into an argument, any savings no matter how big or small are up to the individual, so lets stop going backward and forward over the amounts. My main reason for posting to was highlight another choice in card use when out of the UK, I also pointed out that I have set up a standing order to pay the full balance every month. So I think it was very helpful that John47 highlighted another method of making the payments which could reduce the interest charges even more, no one has to follow either of the suggestions or actually use a halifax card at all, it was just for information purposes only As a more general point, this sort of situation seems to be getting worse on here, I really can't belive that people try to post interesting pieces of information that they hope will help and inform others, only for it to denegrate into a slagging match, Link to comment Share on other sites More sharing options...
Minicamper Posted June 20, 2013 Share Posted June 20, 2013 enodreven - 2013-06-20 10:52 AM Hi, I didn't start this thread for it to turn into an argument, any savings no matter how big or small are up to the individual, so lets stop going backward and forward over the amounts. My main reason for posting to was highlight another choice in card use when out of the UK, I also pointed out that I have set up a standing order to pay the full balance every month. So I think it was very helpful that John47 highlighted another method of making the payments which could reduce the interest charges even more, no one has to follow either of the suggestions or actually use a halifax card at all, it was just for information purposes only As a more general point, this sort of situation seems to be getting worse on here, I really can't belive that people try to post interesting pieces of information that they hope will help and inform others, only for it to denegrate into a slagging match, Indeed, my thanks for the helpful stuff was genuinely meant. Link to comment Share on other sites More sharing options...
rupert123 Posted June 20, 2013 Share Posted June 20, 2013 enodreven - 2013-06-20 10:52 AM Hi, I didn't start this thread for it to turn into an argument, any savings no matter how big or small are up to the individual, so lets stop going backward and forward over the amounts. My main reason for posting to was highlight another choice in card use when out of the UK, I also pointed out that I have set up a standing order to pay the full balance every month. So I think it was very helpful that John47 highlighted another method of making the payments which could reduce the interest charges even more, no one has to follow either of the suggestions or actually use a halifax card at all, it was just for information purposes only As a more general point, this sort of situation seems to be getting worse on here, I really can't belive that people try to post interesting pieces of information that they hope will help and inform others, only for it to denegrate into a slagging match, Completely agree with all that. However I just pointed out the way I did it and the simple fact I could not be bothered to mess about for £5.40, however if others can then fine it is no big deal either way. Link to comment Share on other sites More sharing options...
Caroline Posted June 21, 2013 Share Posted June 21, 2013 Thanks Enodreven, I found the information useful and will store for later use. Link to comment Share on other sites More sharing options...
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