Derek Uzzell Posted January 18, 2019 Share Posted January 18, 2019 Steve H - 2019-01-17 9:23 AM ...As I say, there's no such thing as free money. Somewhere along the way you're going to pay for the service that is provided, either in a fee or in a poor exchange rate. The conditions for using a Halifax “Clarity” credit card to withdraw cash from an ATM abroad are stated here https://www.halifax.co.uk/creditcards/clarity-card/ and suggest that, if the ATM provider does not charge a fee and the ‘debt’ is paid off by the due date each month, there should no additional fee or poor exchange-rate ‘penalty’. I still have a Santander “Zero” credit card (no longer available to new Santander customers) that I use to obtain cash abroad. The use-abroad conditions relating to the Santander Zero card are similar to those of the Halifax Clarity card, except that using the Zero card to obtain cash abroad attracts interest that is not wiped out when the debt is paid off by the due date. However, the addition of interest can be inhibited by paying off the ‘debt’ on-line as soon as the entry relating to the cash-withdrawal transaction appears on my Santander Zero credit-card account. Link to comment Share on other sites More sharing options...
Brian Kirby Posted January 18, 2019 Share Posted January 18, 2019 But, apart from a few sundries (tips, the odd loaf of bread, etc), why carry cash? "Abroad" is a large area, but for the majority of motorhomers it is likely to mean France, Spain, or Portugal, possibly Italy. Germany can be a bit more tricky, but fuel stations at least seem almost universally to take plastic. Credit cards are so widely accepted for even quite minor transactions in most of the commonly visited EU states, the need for cash is very small. A few hundred € in cash lasts us for weeks, and that is easily obtained before departure. Our main spending is for fuel, supermarkets, camp sites, and restaurants, and we have yet to encounter any (apart from a very few camp sites) that reject credit cards. All that is really necessary is a means to obtain emergency cash, and our Nationwide debit cards and a hole in the wall would provide that when necessary. Link to comment Share on other sites More sharing options...
Steve H Posted January 18, 2019 Share Posted January 18, 2019 As I clearly stated the Halifax Credit card is used to make purchases, with the balance being cleared using internet banking. Link to comment Share on other sites More sharing options...
colin Posted January 18, 2019 Share Posted January 18, 2019 Brian Kirby - 2019-01-18 9:16 AM But, apart from a few sundries (tips, the odd loaf of bread, etc), why carry cash? "Abroad" is a large area, but for the majority of motorhomers it is likely to mean France, Spain, or Portugal, possibly Italy. Germany can be a bit more tricky, but fuel stations at least seem almost universally to take plastic. Credit cards are so widely accepted for even quite minor transactions in most of the commonly visited EU states, the need for cash is very small. A few hundred € in cash lasts us for weeks, and that is easily obtained before departure. Our main spending is for fuel, supermarkets, camp sites, and restaurants, and we have yet to encounter any (apart from a very few camp sites) that reject credit cards. All that is really necessary is a means to obtain emergency cash, and our Nationwide debit cards and a hole in the wall would provide that when necessary. Germany is much better than Netherlands for accepting cards, they say it should change 'soon', but I would advise taking plenty of cash if touring around Netherlands. Link to comment Share on other sites More sharing options...
Derek Uzzell Posted January 18, 2019 Share Posted January 18, 2019 Steve H - 2019-01-18 9:32 AM As I clearly stated the Halifax Credit card is used to make purchases, with the balance being cleared using internet banking. I’m aware of what you said regarding your Halifax credit-card. What I was referring to was your follow-up comment “...there's no such thing as free money”. There is no annual/monthly charge for holding a Halifax Clarity credit-card and, provided that the card’s ‘debt’ is paid off by the due date each month, no interest charges will be levied for having used the Clarity card to withdraw cash from an ATM abroad. Assuming that the ‘foreign’ ATM provider has not imposed a fee for taking cash out, nor set their own currency exchange-rate, the exchange-rate used for converting the currency provided by the ATM (eg. euros) into GBP when using the Clarity card will be the Mastercard rate (ie. what you’ve referred to as the “business exchange rate”) This is about as ‘free’ as one can get. Although there is no fee for using a Nationwide FlexPlus debit-card for cash withdrawals outside the UK (and the conversion exchange-rate will be the VISA ‘business’ rate) there is still a monthly £13 fee for having a FlexPlus account. OK, as you rightly say the FlexPlus account has perks that can offset the £13 monthly fee, but nowadays no ‘free’ Nationwide current account or credit-card allows cash to be withdrawn from a non-UK ATM without some sort of financial ‘penalty’ being imposed. Link to comment Share on other sites More sharing options...
bounty hunter Posted January 18, 2019 Share Posted January 18, 2019 Last year for the first time I withdrew money abroad using my Nationwide credit card and following advice from this forum paid it off the same day with no penalty charge. However I was charged a £3 transaction fee. As said above no such thing as free money John Link to comment Share on other sites More sharing options...
Robinhood Posted January 18, 2019 Share Posted January 18, 2019 Derek Uzzell - 2019-01-18 11:42 AM There is no annual/monthly charge for holding a Halifax Clarity credit-card and, provided that the card’s ‘debt’ is paid off by the due date each month, no interest charges will be levied for having used the Clarity card to withdraw cash from an ATM abroad. ...not so, Derek. As it clearly states in the Ts&Cs you referenced above cash transactions (as is pretty standard for such things) "start incurring interest immediately unless 0% promotional offer applies". As in your Flexplus example, and as I've already posted above, you can avoid/minimise the effects of this by making a prompt, balancing payment. Link to comment Share on other sites More sharing options...
derek500 Posted January 18, 2019 Share Posted January 18, 2019 Richard J - 2019-01-17 11:58 PM FREE MONEY ! ?? I've had £20 cashback from Barclaycard, £20 from Halifax Clarity and £10 from Monzo in the last five months. All free money!! Link to comment Share on other sites More sharing options...
Clive_Adams Posted January 18, 2019 Share Posted January 18, 2019 Take a look at the new breed of credit debit cards, Transferwise or Revolut, you can open the accounts on line and the debit cards take days, You can use a number of different currencies without having extortionate bank rates, I have a Transferwise card and with an online app can thoroughly recommend it. To get cash in its a transfer from your normal account. Link to comment Share on other sites More sharing options...
Derek Uzzell Posted January 18, 2019 Share Posted January 18, 2019 Robinhood - 2019-01-18 1:36 PM Derek Uzzell - 2019-01-18 11:42 AM There is no annual/monthly charge for holding a Halifax Clarity credit-card and, provided that the card’s ‘debt’ is paid off by the due date each month, no interest charges will be levied for having used the Clarity card to withdraw cash from an ATM abroad. ...not so, Derek. As it clearly states in the Ts&Cs you referenced above cash transactions (as is pretty standard for such things) "start incurring interest immediately unless 0% promotional offer applies". As in your Flexplus example, and as I've already posted above, you can avoid/minimise the effects of this by making a prompt, balancing payment. OK - I note that what you’ve highlighted about the Halifax Clarity credit-card is also mentioned in this MSE link https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/#halifax Not sure why I thought the interest charge would magically disappear if the debt were paid off monthly (in the time-honoured way) as I clearly knew this wan’t so when I commented on this 2015 thread https://forums.outandaboutlive.co.uk/forums/Motorhomes/Hints-and-Tips/Credit-card-to-use-abroad/38096/ The FlexPlus card is a Nationwide debit-card, so (as far as I can see) there should be no interest involved in using it to withdrawal cash abroad and, consequently, no real incentive to pay off more promptly than is normally done. Link to comment Share on other sites More sharing options...
laimeduck Posted January 18, 2019 Share Posted January 18, 2019 derek500 - 2019-01-18 2:12 PM Richard J - 2019-01-17 11:58 PM FREE MONEY ! ?? I've had £20 cashback from Barclaycard, £20 from Halifax Clarity and £10 from Monzo in the last five months. All free money!! How many thousands did you have to spend to get this "free" money? Tee Hee! Link to comment Share on other sites More sharing options...
Robinhood Posted January 18, 2019 Share Posted January 18, 2019 Derek Uzzell - 2019-01-18 5:43 PM The FlexPlus card is a Nationwide debit-card, so (as far as I can see) there should be no interest involved in using it to withdrawal cash abroad and, consequently, no real incentive to pay off more promptly than is normally done. ...yes, sorry, my misquote: I was should have referred to your preceding post about your Santander Zero card. ;-) Link to comment Share on other sites More sharing options...
Steve H Posted January 18, 2019 Share Posted January 18, 2019 Jesus I wish people would read postings carefully before having their two penny worth. I made it quite clear that we are currently in Spain and we are being charged five euros by the SPANISH bank to make cash withdrawals using our Flexplus debit card, FACT. Nationwide will add no further charges. We had the same experience in Croatia last year. There the local bank asked if we wanted them to convert the amount to Sterling, and when we said no they refused to pay out the money. Link to comment Share on other sites More sharing options...
derek500 Posted January 18, 2019 Share Posted January 18, 2019 laimeduck - 2019-01-18 5:47 PM derek500 - 2019-01-18 2:12 PM Richard J - 2019-01-17 11:58 PM FREE MONEY ! ?? I've had £20 cashback from Barclaycard, £20 from Halifax Clarity and £10 from Monzo in the last five months. All free money!! How many thousands did you have to spend to get this "free" money? Tee Hee! Halifax and Monzo one purchase of any amount. Barclaycard a balance transfer with 0% interest for two years, can't remember amount. Link to comment Share on other sites More sharing options...
Richard J Posted January 20, 2019 Share Posted January 20, 2019 ?? Link to comment Share on other sites More sharing options...
Richard J Posted January 20, 2019 Share Posted January 20, 2019 I apologise for putting my two peneth worth in, I was just trying to help. It’s really quite simple, the Clarity card and a few others don’t charge ANY FEES, you get the actual exchange rate on the day of your transaction(nothing to do with MasterCard or Visa). As long as you pay off the balance when due there is no charge, if you withdraw cash and transfer money in the same day or preload with money there is no interest charged. It doesn’t really get any simpler, but if anybody can recommend a card that is free and gives you a better exchange rate than the current ACTUAL exchange rate, I will be applying tomorrow. Link to comment Share on other sites More sharing options...
StuartO Posted January 21, 2019 Author Share Posted January 21, 2019 Thank you for all the responses - I think this thread has now run its course and we've reached the point of repetition and diminishing returns. It seems there are various ways in which you can draw cash abroad without transactions charges and at best exchange rates but there is always the risk that the ATM or foreign bank you are using will levy a charge, so beware. In one case a bank refused to supply cash unless the customer allowed them to convert the exchange, which would have cost the customer more. There may be no way arond this if you want to use their services. Your choice is effectively between debit cards which you pre-load or debit or (some) credit cards which you need to payoff immediately (by bank transfer into the account) in order to avoid charges at the UK end. The debit card I'm pre-loading at the moment (Starling Bank) is easy to set up and as good as any other. I have also put £200 on to my Monzo card as a second fallback, since that is within their free limit of £200 per callendar month. Link to comment Share on other sites More sharing options...
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