Nationwide to charge for Euro transactions
in [Europe]
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From: Mike Lane on 7 Aug 2010 11:20 Andy Pandy wrote on Aug 7, 2010: > > "Mike Lane" <mike.lane.usenet(a)ntlworld.co.uk> wrote in message > news:0001HW.C8821FF20013589CB02919BF(a)news.virginmedia.com... >> David Horne wrote on Aug 5, 2010: >> >>> >>> As Andy, probably the Halifax Clarity credit card. But, when travelling >>> on holiday with my partner, I'll get him to withdraw money from his >>> Boston bank account, which only adds Visa's 1%. At least for the time >>> being, with current exchange rates. >>> >>> >> >> OK. How exactly does this work for cash withdrawals, can you tell >> me? The >> Halifax site is a little vague about the exact T&Cs. It says: >> No fee to transfer a balance >> No cash withdrawal fee >> No fee to use it anywhere worldwide >> No annual fee. >> >> I'm not sure I quite believe them. What's the catch? Most credit cards >> charge interest for cash withdrawals from the day you make the >> withdrawal. Can you preload the card with sufficient cash to cover a trip >> abroad? > > They charge immediate interest from the withdrawal date, but the rate > is only about 1% a month. > It looks like you can't pre-load it (it says any credit balance may be > returned) so what I'd do is just check the balance when I got back off > holiday and pay it all off. So I'd only be paying a week or two's > interest, probably under 0.5%. > > If you use it for purchases as well you'd have to pay the whole lot > off when you got back off holiday to avoid further interest on the > cash advances (as your payment will be allocated to the interest free > purchases first). So if you want the full interest free period on > purchases, use another card, eg Nationwide, or get your partner a > Clarity and use one for purchases and the other for ATMs. > OK, thanks. I suppose that will be the best way of getting cash abroad in future. It seems an insane way of using one's own money though - borrowing it on a credit card and then repaying it with interest when you get back. -- Mike Lane UK North Yorkshire mike_lane at mac dot com
From: Martin on 7 Aug 2010 12:38 On 07/08/10 17:20, Mike Lane wrote: > Andy Pandy wrote on Aug 7, 2010: > >> >> "Mike Lane"<mike.lane.usenet(a)ntlworld.co.uk> wrote in message >> news:0001HW.C8821FF20013589CB02919BF(a)news.virginmedia.com... >>> David Horne wrote on Aug 5, 2010: >>> >>>> >>>> As Andy, probably the Halifax Clarity credit card. But, when travelling >>>> on holiday with my partner, I'll get him to withdraw money from his >>>> Boston bank account, which only adds Visa's 1%. At least for the time >>>> being, with current exchange rates. >>>> >>>> >>> >>> OK. How exactly does this work for cash withdrawals, can you tell >>> me? The >>> Halifax site is a little vague about the exact T&Cs. It says: >>> No fee to transfer a balance >>> No cash withdrawal fee >>> No fee to use it anywhere worldwide >>> No annual fee. >>> >>> I'm not sure I quite believe them. What's the catch? Most credit cards >>> charge interest for cash withdrawals from the day you make the >>> withdrawal. Can you preload the card with sufficient cash to cover a trip >>> abroad? >> >> They charge immediate interest from the withdrawal date, but the rate >> is only about 1% a month. >> It looks like you can't pre-load it (it says any credit balance may be >> returned) so what I'd do is just check the balance when I got back off >> holiday and pay it all off. So I'd only be paying a week or two's >> interest, probably under 0.5%. >> >> If you use it for purchases as well you'd have to pay the whole lot >> off when you got back off holiday to avoid further interest on the >> cash advances (as your payment will be allocated to the interest free >> purchases first). So if you want the full interest free period on >> purchases, use another card, eg Nationwide, or get your partner a >> Clarity and use one for purchases and the other for ATMs. >> > > OK, thanks. I suppose that will be the best way of getting cash abroad in > future. It seems an insane way of using one's own money though - borrowing it > on a credit card and then repaying it with interest when you get back. Can't you use, for example, a Visa debit card instead?
From: Mike Lane on 7 Aug 2010 13:35 Martin wrote on Aug 7, 2010: > On 07/08/10 17:20, Mike Lane wrote: >> Andy Pandy wrote on Aug 7, 2010: >> >>> >>> "Mike Lane"<mike.lane.usenet(a)ntlworld.co.uk> wrote in message >>> news:0001HW.C8821FF20013589CB02919BF(a)news.virginmedia.com... >>>> David Horne wrote on Aug 5, 2010: >>>> >>>>> >>>>> As Andy, probably the Halifax Clarity credit card. But, when travelling >>>>> on holiday with my partner, I'll get him to withdraw money from his >>>>> Boston bank account, which only adds Visa's 1%. At least for the time >>>>> being, with current exchange rates. >>>>> >>>>> >>>> >>>> OK. How exactly does this work for cash withdrawals, can you tell >>>> me? The >>>> Halifax site is a little vague about the exact T&Cs. It says: >>>> No fee to transfer a balance >>>> No cash withdrawal fee >>>> No fee to use it anywhere worldwide >>>> No annual fee. >>>> >>>> I'm not sure I quite believe them. What's the catch? Most credit cards >>>> charge interest for cash withdrawals from the day you make the >>>> withdrawal. Can you preload the card with sufficient cash to cover a trip >>>> abroad? >>> >>> They charge immediate interest from the withdrawal date, but the rate >>> is only about 1% a month. >>> It looks like you can't pre-load it (it says any credit balance may be >>> returned) so what I'd do is just check the balance when I got back off >>> holiday and pay it all off. So I'd only be paying a week or two's >>> interest, probably under 0.5%. >>> >>> If you use it for purchases as well you'd have to pay the whole lot >>> off when you got back off holiday to avoid further interest on the >>> cash advances (as your payment will be allocated to the interest free >>> purchases first). So if you want the full interest free period on >>> purchases, use another card, eg Nationwide, or get your partner a >>> Clarity and use one for purchases and the other for ATMs. >>> >> >> OK, thanks. I suppose that will be the best way of getting cash abroad in >> future. It seems an insane way of using one's own money though - >> borrowing it on a credit card and then repaying it with interest when you >> get back. > > Can't you use, for example, a Visa debit card instead? Yes, of course. It's what I do at the moment - I use the Nationwide Flex debit card which up till now has allowed withdrawals anywhere with no charges applied. From November though they're going to impose a 2% charge for foreign withdrawals. -- Mike Lane UK North Yorkshire mike_lane at mac dot com
From: Martin on 8 Aug 2010 05:46 On 07/08/10 19:35, Mike Lane wrote: > Martin wrote on Aug 7, 2010: > >> On 07/08/10 17:20, Mike Lane wrote: >>> Andy Pandy wrote on Aug 7, 2010: >>> >>>> >>>> "Mike Lane"<mike.lane.usenet(a)ntlworld.co.uk> wrote in message >>>> news:0001HW.C8821FF20013589CB02919BF(a)news.virginmedia.com... >>>>> David Horne wrote on Aug 5, 2010: >>>>> >>>>>> >>>>>> As Andy, probably the Halifax Clarity credit card. But, when travelling >>>>>> on holiday with my partner, I'll get him to withdraw money from his >>>>>> Boston bank account, which only adds Visa's 1%. At least for the time >>>>>> being, with current exchange rates. >>>>>> >>>>>> >>>>> >>>>> OK. How exactly does this work for cash withdrawals, can you tell >>>>> me? The >>>>> Halifax site is a little vague about the exact T&Cs. It says: >>>>> No fee to transfer a balance >>>>> No cash withdrawal fee >>>>> No fee to use it anywhere worldwide >>>>> No annual fee. >>>>> >>>>> I'm not sure I quite believe them. What's the catch? Most credit cards >>>>> charge interest for cash withdrawals from the day you make the >>>>> withdrawal. Can you preload the card with sufficient cash to cover a trip >>>>> abroad? >>>> >>>> They charge immediate interest from the withdrawal date, but the rate >>>> is only about 1% a month. >>>> It looks like you can't pre-load it (it says any credit balance may be >>>> returned) so what I'd do is just check the balance when I got back off >>>> holiday and pay it all off. So I'd only be paying a week or two's >>>> interest, probably under 0.5%. >>>> >>>> If you use it for purchases as well you'd have to pay the whole lot >>>> off when you got back off holiday to avoid further interest on the >>>> cash advances (as your payment will be allocated to the interest free >>>> purchases first). So if you want the full interest free period on >>>> purchases, use another card, eg Nationwide, or get your partner a >>>> Clarity and use one for purchases and the other for ATMs. >>>> >>> >>> OK, thanks. I suppose that will be the best way of getting cash abroad in >>> future. It seems an insane way of using one's own money though - >>> borrowing it on a credit card and then repaying it with interest when you >>> get back. >> >> Can't you use, for example, a Visa debit card instead? > > Yes, of course. It's what I do at the moment - I use the Nationwide Flex > debit card which up till now has allowed withdrawals anywhere with no charges > applied. From November though they're going to impose a 2% charge for foreign > withdrawals. Mike, do you remember when I said you could get P&O North Sea Ferries Hull-Rotterdam season tickets? Although they are only advertised for Rotterdam/Zeebrugge-Hull. They are availble in the other direction too. I met a woman in Filey with a holiday house in France who has bought season tickets to Rotterdam every year for years. You pay the low season rate irrespective of when you travel. There is a small surcharge for a few peak days per year. You also get preferential treatment. They guarantee you a place on the ferry even if you only book shortly before the day you want to travel. You can cancel a booking up to a few hours before the boat sails.
From: Mike Lane on 8 Aug 2010 13:04
Martin wrote on Aug 8, 2010: > Mike, do you remember when I said you could get P&O North Sea Ferries > Hull-Rotterdam season tickets? Although they are only advertised for > Rotterdam/Zeebrugge-Hull. They are availble in the other direction too. > I met a woman in Filey with a holiday house in France who has bought > season tickets to Rotterdam every year for years. You pay the low season > rate irrespective of when you travel. There is a small surcharge for a > few peak days per year. You also get preferential treatment. They > guarantee you a place on the ferry even if you only book shortly before > the day you want to travel. You can cancel a booking up to a few hours > before the boat sails. I'll look into that, but the website indicates that the season ticket offer is for 5 'short break' return trips. I'm not sure sure how they define a short break but I think it's for a shorter time than I would normally be interested in. -- Mike Lane UK North Yorkshire mike_lane at mac dot com |