UK debit card charges

[Campo Steve]

If only it was that simple, Bowler. Not everywhere takes Visa, especially in villages. Sometimes cash is required. Using your visa to take cash out is probably the most expensive way of doing things as they charge interest from day 1. No free period.

[Bowler]

Markwilding, It's spelt "gibberish" no wonder the UK is in such a state when people can't even spell simple words, my mistakes are mostly typos but if your going to badmouth me at least spell it right !!

[El Cid]

Markwilding, It's spelt "gibberish" no wonder the UK is in such a state when people can't even spell simple words, my mistakes are mostly typos but if your going to badmouth me at least spell it right !!

Please can you keep to the subject rather than complaining about spelling mistakes.

Sid

[alisonb]

I've just done a quick calculation comparing Nationwide debit card to HiFx currency brokers (their rates taken direct from their website). Using today's Visa wholesale rate and applying Nationwide's 2% plus £1 per withdrawal -

1000 euros (needs to be 3 NW transactions) NW - £897.48, HiFx £907.52
3000 euros NW £2692.87, HiFx £2696.87
5000 euros NW £4384.70, HiFx £4496.19

So much as I hate to say it, up to 5000 euros Nationwide are cheaper. Mind you, compared to the VISA wholesale rate, it still costs around £21 more for 1000 euros than it used to. So, maybe a trip to Gibraltar to open a Norwich and Peterborough account is coming up (it's getting very near tax time)

(I know I'm a sad woman, but I actually like maths!)

[Julie]

I am glad your sad Alison Lol !

Thanks for the example.

[markwilding]

I'll make this as simple as I can, pay for everything with visa, pay the bill at the end of the month.

I do the same but only for purchases plus I have the added benefit of having both Spanish and British credit cards so I can avoid exchange charges
but for you,there is still the cost of the exchange. Can you be certain that there isn't a better way of doing it? Maybe for you it is only small amounts so it's not worth bothering with.
Because of the good exchange rate for those who earn in euros,which is my situation,I move some money to the UK and using wholesalers instead of my bank makes quite a difference

[knowal]

Bowler has now joined Julian on my ignore list. What an excellent facility.

[Mowser]

but if your going to badmouth me at least spell it right !!

Arf arf arf. It should be "If YOU'RE going to badmouth me."

Back to topic ... my only complaint is that Nationwide used to give bank rate without a % top-up
They also deduct £1 per transaction. If I take out the maximum allowed in an ATM machine, the rate I receive is roughly 2 cents less per 1 pound sterling. It's not a huge amount, but it still rankles.

[ashtondav]

Use currencyfair for transfers - bank rate plus only €3 to transfer money to Spain, whatever the amount. My Spanish account is usually credited the day after I instruct currencyfair.

Cheaper than NW, HiFX and all the others.

Nationwide credit card charges no extra fees or loads for purchases tho it does for cash withdrawals.

Is it worth the effort?

Well numero uno for anyone savvy with the internet it's no effort - just a few key strokes.

Secondly I guess with the apartment costs and a few months of visits we burn €6,000 a year. Saving 2% means €120 worth of beers a year. So yes, it's worth it.

[katy]

I had a N&P account in Gibraltar. I visited once a month anyway. If you do a withdrawal eg. £1000 and say you want it in euro, you are given a slip of paper and have to take it to a travel agency a few minutes up Main Street. Full exchange rate is paid. Was only 40 mins drive for me.

[Bowler]

Bowler has now joined Julian on my ignore list. What an excellent facility.

And you are ??

[JAWG]

He is obviously someone who has decided to ignore your posts, Bowler!

[Bowler]

Use currencyfair for transfers - bank rate plus only €3 to transfer money to Spain, whatever the amount. My Spanish account is usually credited the day after I instruct currencyfair.

Cheaper than NW, HiFX and all the others.

Nationwide credit card charges no extra fees or loads for purchases tho it does for cash withdrawals.

Is it worth the effort?

Well numero uno for anyone savvy with the internet it's no effort - just a few key strokes.

Secondly I guess with the apartment costs and a few months of visits we burn €6,000 a year. Saving 2% means €120 worth of beers a year. So yes, it's worth it.

So one night in the pub then

[Mowser]

So one night in the pub then

Point?

[Campo Steve]

So one night in the pub then

A free night in the pub is better than not!