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[pattayadingo]

Talking today to the Nationwide Bank regards creating a new account while I am here in the UK ....

A Nationwide managed account where you have to pay £700 upwards per month into the account and for them to manage your Direct Debits, Standing orders etc., they will give a me a Select Card. The select card allows you to withdraw at ATM's abroad for  £1 per withdrawal + 2%.
They tell me this is a recent card they are issuing - started a couple of weeks ago, apparently.

So it may be of interest to some.

Personally it would save me £200 a year on ATM withdrawals. That may not seem a lot but £200 is better off in my pocket than compared with Barclays Visa Connect card.

Apologies if this has been covered already but I do not read this section of the forum very often.

[Lifer]

My credit Union in US charges 1% charge for every ATM made here plus a flat $5. Here in Thailand, in addition is the 150 charge unless you use Aeon machine. The $5 charge just started two months ago.

Edited by Lifer, 2012-02-15 20:04:52.

[endure]

I think whoever you spoke to might be confused over what they actually offer. The Select Card is a CREDIT card and offers unlimited commision-free PURCHASES overseas. The ATM charges you mention are the standard charges for the DEBIT card (a seperate card) attached to the Flexaccount current account which you need to open before you're eligible for a Select Card.

[pattayadingo]

endure, on 2012-02-15 20:11:23, said:

I think whoever you spoke to might be confused over what they actually offer. The Select Card is a CREDIT card and offers unlimited commision-free PURCHASES overseas. The ATM charges you mention are the standard charges for the DEBIT card (a seperate card) attached to the Flexaccount current account which you need to open before you're eligible for a Select Card.

I am going down to the bank in the next couple of days so I will double check.
Maybe that the guy on the phone was confused.

[endure]

Here's the bumph on the credit card:

http://www.nationwid...offer-deals.htm

[helloagain]

Halifax charge me £1.50 & that is that, change banks

[Pib]

helloagain, on 2012-02-16 07:29:31, said:

Halifax charge me £1.50 & that is that, change banks

You sure about £1.50 only being charged?.   The Halifax web site says a 2.75% fee "and" a £1.50 fee apply.   Link

Partial quote from above Link
Buying goods and services in a foreign currency

If you use your debit card to withdraw cash or pay for goods and services in a currency other than sterling, the exchange rate we use will be the Visa Reference Exchange Rate. We will charge a foreign exchange fee of 2.75% of the amount of the transaction and a £1.50 fee for each payment or withdrawal.
End Quote.

Since they say the  £1.50 applies to each "payment" as in a buying something or a withdrawal, it appears this flat fee per transaction is added to the basic fee of 2.75%.   Seems more and more banks are adding a "per transaction flat fee" on top of the basic percentage fee in a way to increase the overall fee amount.   If the percentage fee is disguised through a lower exchange rate (a smoke and mirrors tactic) versus being clearly identified as a separate charge, then the separate flat fee could appear as the only charge for the transaction/withdrawal when in fact there is a percentage fee and a flat fee involved.   You might want to double check your account, especially what exchange rate you are getting...if the exchange rate given appears to be about 2.75% lower (which means the sterling charge to your account is 2.75% higher)  than the 0% foreign transaction fee Visa Exchange rate, then Halifax is charging the 2.75% "and"  £1.50 fees.  Visa Exchange Link.

[Kwasaki]

Well what you do is up to you,  I stopped using Nationwide when they stopped the free withdrawals from ATM's abroad and started doing what you have posted, also Thailand banks one by one started charging 150 bht at ATM's except in some cases like Aeon but they do not have ATM's locally near us.

Nationwide only allow £300 per day which is another draw back and extra costs.

My First Direct debit cards is what I use now who charge a minimum of 1.75% to a max of £5 on withdrawals overseas and have a £500 a day limit.

£300 quid aprox ( 14,000 bht ) from Nationwide from a ATM costs at least £10, if you go into a Thai Bank it will still cost at least £7.

With First Direct debit card going into into Thai bank £500 aprox ( 24,000 bht ) costs £5.

Regards K

[endure]

Get yourself a Halifax Clarity credit card. They have no upfront charges for any foreign currency transactions including using an ATM. Their best interest rate is 12.9% which they only charge while you're in debt so if you draw some cash then transfer money from your bank account to the Halifax account you'll pay pennies. Their exchange rate is good too. Last time I was in Thailand it cost me a total of £3.40 to draw 100,000bt on the Halifax card and a fiver to draw 10,000bt on a Nationwide Flexaccount debit card.

[Chivas]

helloagain, on 2012-02-16 07:29:31, said:

Halifax charge me £1.50 & that is that, change banks

£1.50 plus 2.75% fee......

[pattayadingo]

I will have to look into the alternatives mentioned above. It will also depend on their conditions for the accounts. But that is something I can do whilst I am here.

Barclays visa charge me over £12 for a £300 withdrawal at an ATM in Thailand.

From a bank statement I am looking at now. Barclays Visa Debit Card  .....

Cash withdrawal £287.
This transaction was for THB 13,150 at exch rate of 46.5090 on 10 Dec 2011 and includes  commission of £8.21 and a fee of £4.30

^^ From my bank statement.
Almost £13 in total. That is expensive!!

[pattayadingo]

http://www.moneysavi...-charges#credit

^^^ A link to the cost of U.K. credit and debit cards and charges as of August 2011 (maybe some minor changes since).



Thought this might be worth a look

Edited by pattayadingo, 2012-02-16 22:26:40.

[lifemagic]

Get a metrobank debit card. I withdraw over the counter/aeon and I pay no charges at all, no 150 and no UK-side charges. I get about 48b to the quid.

[pattayadingo]

I am happy now. Halifax have given me a Clarity Credit Card.
No charges for withdrawals abroad.

[chris1970]

pattayadingo, on 2012-02-18 21:34:58, said:

I am happy now. Halifax have given me a Clarity Credit Card.
No charges for withdrawals abroad.

you'll still get charged 150 baht for using an atm in thailand, to avoid that charge go inside with your passport and ask for a cash advance - not all banks can do it.

halifax clarity and santander zero are better than most cards but as mentioned you have to pay balance off asap to avoid interest charges.

[pattayadingo]

chris1970, on 2012-02-18 23:40:10, said:

pattayadingo, on 2012-02-18 21:34:58, said:

I am happy now. Halifax have given me a Clarity Credit Card.
No charges for withdrawals abroad.

you'll still get charged 150 baht for using an atm in thailand, to avoid that charge go inside with your passport and ask for a cash advance - not all banks can do it.

halifax clarity and santander zero are better than most cards but as mentioned you have to pay balance off asap to avoid interest charges.

Yes, the 150 Baht charge is still there, but at least witn internet banking and careful management I will not be paying the £12 + that I have been paying for my Barclays Visa card to with draw £300. That is a big saving over a 12 month period

[endure]

pattayadingo, on 2012-02-19 04:06:06, said:

chris1970, on 2012-02-18 23:40:10, said:

pattayadingo, on 2012-02-18 21:34:58, said:

I am happy now. Halifax have given me a Clarity Credit Card.
No charges for withdrawals abroad.

you'll still get charged 150 baht for using an atm in thailand, to avoid that charge go inside with your passport and ask for a cash advance - not all banks can do it.

halifax clarity and santander zero are better than most cards but as mentioned you have to pay balance off asap to avoid interest charges.

Yes, the 150 Baht charge is still there, but at least witn internet banking and careful management I will not be paying the £12 + that I have been paying for my Barclays Visa card to with draw £300. That is a big saving over a 12 month period

As has been said if you take your Clarity card and your passport inside the bank you won't pay the 150bt charge either.