Cash, Card or T/Cheques

[NigelM]

My bank has advised:

Cash withdrawals abroad are charged at 1.5% of the transaction value (minimum £1.75). first directory members do not incur the 1.5% transacting fee. An exchange rate adjustment - currently 2.75% is made to cover our handling costs and any card processing. Some cash machine operators may apply a direct charge for withdrawals from their machines, this will be advised on screen at the time, and you will be given an option to cancel.


So I will be paying 4,25% on my withdrawals. The differenc in the rate will be more than negated unless I open a NW account but do they not have the 2.75% handling fee and introducing a 1% usage fee, making an overall package of 3.75%.

how can this be better?

[msnsad]

[bargainqueen]

The exchange rate adjustment is the fee charged by visa the card handling company but the good thing about Nationwide cards, credit and debit, is that when you used them abroad you do not get charged this fee and receive a better exchange rate.

Now when you use them in US you have to pay a small fee, max 1%.

I use the Suntrust machines in Walmart and once you get used to the different way of getting cash out, put the card in and take it out straight away before you start to type in pin number, amount etc, they are very easy to use.

I haven't bought travellors cheques for some time but don't you have to pay 1% as a form of insurance and I think the rate you get the cheques have had some form of %tage loaded onto them.

[msmiff]

Hi Nigel,
Nationwide DO NOT charge the 2.75% 'handling' fee - the total charge is 1% over and above the exchange rate at time of transaction.
Presently, the Post Office offers a card with totally free exchange but, as I understand it, the card is issued through Nationwade, so I assume that it will also start to charge....

[hazelk]

Martin & Sue

We have just received our Post Office card for our forthcoming trip, the card is actually from the Bank of Ireland and not the Nationwide.

[8D]