UK debit card charges

Other topics that are not covered in the sections above.
User avatar
Julie
Andalucia Guru
Posts: 3534
Joined: Sun Oct 31, 2004 4:47 pm
Location: Andalucia & Greater Manchester

UK debit card charges

Postby Julie » Sun May 15, 2011 9:54 am

I use the nationwide flexi account and I would like to see if I can find a better deal for withdrawing money when I am in Spain or out of UK, we are not residents in Spain but spend about 6 months of the year here, I have just been looking at my NW account and I pay about £6.30 everytime I withdrawn 300 euro, which is about once or twice a week, I have started using my card a lot to pay in shops, etc but they still charge the same % except they don't addd on the extra pound, so although I didn't really want the hazzle of changing banks I think I will do when I go back to the UK, the insurance that the Nationwide now give is a good deal for some, especially as to upgrade to annual worldwide it only cost 10 pound per person up to the age of 75, so if you don't spend a lot of time abroad its ok, but as my hubby is 75 next birthday it is no longer much use to us.
Anyway, what I am asking is, those who have changed to other banks, are you happy with it ? I don't want to go on to a credit card or start transferring money to pay off cards at the end of the month, just a simple new account without the charges if that is possible, nor do I want to be having a euro top up card, so if anyone would like to tell me what they think of there account I would be grateful, we do have money being paid in monthly, I know this can make a difference to some accounts, I have been reading old posts, but I am more confused now than when I started Lol !
No soporto ver la casa sucia, ahora mismo me levanto y apago la luz.

User avatar
Campo Steve
Andalucia Guru
Posts: 3809
Joined: Fri May 01, 2009 5:08 pm
Location: Benamargosa & Comares Campo

Re: UK debit card charges

Postby Campo Steve » Sun May 15, 2011 11:03 am

It's annoying having to pay with Nationwide now, especially as it used to be free.

Here's a comparison page from moneysavingexpert. Although rates may have changed, it shows Nationwide as still being the best deal i.e. lowest loading and lowest fee. Debit cards come a little way down the page.

http://www.moneysavingexpert.com/travel ... rd-charges

Factor in your free insurance (not available to us that live in Spain) and I wonder why you would change.
I've got an inferiority complex, but it's not a very good one!

User avatar
El Viejo Hombre
Andalucia.com Amigo
Posts: 56
Joined: Wed Oct 31, 2007 1:04 am
Location: Highway 61

Re: UK debit card charges

Postby El Viejo Hombre » Sun May 15, 2011 11:23 am

I am a Nationwide Customer but I am considering changing to Norwich and Petrtborough who would appear to offer free withdrawals abroad using the bank exchange rate (as Nationwide do)

User avatar
Mowser
Andalucia Guru
Posts: 6388
Joined: Thu Sep 27, 2007 10:42 am
Location: Torre del Mar

Re: UK debit card charges

Postby Mowser » Sun May 15, 2011 11:57 am

I try to take out the maximum allowed from the ATM depending on the exchange rate.
Last week I took out €330.
Breakdown from Nationwide was:-
06 May 2011 Cash EU 330.00EUR at 1.118 = £295.15
06 May 2011 Non-UK commission fee £5.90
06 May 2011 Non-UK cash wdl fee £1.00
It therefore cost £302.05 to get €330 euros.
Although the exchange rate on that day was €1.118, after charges the rate worked out at €1.092
Dave

User avatar
alexander1
Andalucia.com Amigo
Posts: 167
Joined: Tue Apr 11, 2006 7:22 pm
Location: Manilva & Midlands

Re: UK debit card charges

Postby alexander1 » Sun May 15, 2011 12:11 pm

We come for 6 months of the year but use a currency broker (HiFX) to transfer as much as we need for the time we are here plus bills coming out of our Spanish bank account. The transfer is free and a better rate of exchange.

User avatar
Campo Steve
Andalucia Guru
Posts: 3809
Joined: Fri May 01, 2009 5:08 pm
Location: Benamargosa & Comares Campo

Re: UK debit card charges

Postby Campo Steve » Sun May 15, 2011 12:14 pm

Norwich and Peterborough is free but remember:

Using your Gold Light Current Account i ... 0 or more.

If it isn't your main account in the UK then it could cost you. Use it as above then a good deal.
I've got an inferiority complex, but it's not a very good one!

ashtondav
Resident
Posts: 1554
Joined: Mon Feb 07, 2005 8:10 pm
Location: Northampton Frigiliana

Re: UK debit card charges

Postby ashtondav » Sun May 15, 2011 3:46 pm

I now exchange all my UK money into €s via currencyfair. You get bank rate from other sellers, your money is safe, and it costs just €3 to transfer the funds to your Spanish bank account. It's been great! Then you just use your Spanish debit card. I was sceptical about currencyfair to begin with but am now a big fan. I don't risk more than £1,000 in any one transaction, though.

My second choice would be to get yourself a Halifax Clarity Credit Card. This allows ATM withdrawals at bank rate for free. It does charge 1% on any outstanding cash balance with immediate effect, but it only means you pay £1 for every £100 withdrawal as long as you pay off every month.

In fact if you open a Halifax Clarity current account and transfer £1,000 a month they even pay you £5 per month for every month you spend £500 or more (not cash withdrawals though). And the account pays you £5 a month as well. Even if, as I do, you direct debit the £1,000 the day after you pay it in!That's £120 a year for nowt - pays for a Tubo a day for every day i'm in Spain. Pretty good.

Remember that the NW only charge for cash withdrawals, not payments. To be honest, it's only a small number of shops and bars that don't accept debit card payments - you really shouldn't need much cash.

User avatar
Julie
Andalucia Guru
Posts: 3534
Joined: Sun Oct 31, 2004 4:47 pm
Location: Andalucia & Greater Manchester

Re: UK debit card charges

Postby Julie » Sun May 15, 2011 8:01 pm

Thanks all.
Astondave, NW do charge for using the card exactly the same amount % as withdrawing cash, but they don't add the extra £1 on top, I use currency direct for large amounts, but I think I will take a look at moving say 1000 a month or with one of those type of companies,I don't want any type of credit card.
No soporto ver la casa sucia, ahora mismo me levanto y apago la luz.

Bowler
Resident
Posts: 295
Joined: Sat Nov 27, 2010 1:53 pm

Re: UK debit card charges

Postby Bowler » Sun May 15, 2011 9:13 pm

I am not rich, but can anyone tell me here what is the obsession with saving a few penníes,euros, cents or whatever on financíal transactions, do you really expect it to be for free, I'm constantly reading about this and wonder if some of you are walking a fine line be<tween normlality and bancruptcy.

User avatar
Mowser
Andalucia Guru
Posts: 6388
Joined: Thu Sep 27, 2007 10:42 am
Location: Torre del Mar

Re: UK debit card charges

Postby Mowser » Sun May 15, 2011 9:17 pm

I'm constantly reading about this and wonder if some of you are walking a fine line be<tween normlality and bancruptcy.
And some are treading a fine line between spelling and gibberish.
Dave

Bowler
Resident
Posts: 295
Joined: Sat Nov 27, 2010 1:53 pm

Re: UK debit card charges

Postby Bowler » Sun May 15, 2011 9:35 pm

I think my use of English is pretty clear, if you understand English that is?? to get back to my post may the whingeing about a few euros conversion costs, everyone has to make a living, unless you're a scot of course in which case the good old English will bail you out !! as with the Irish who hate us but are happy to take our benefits to fed their masses !! S i said in another podt I detest hypocrites !

User avatar
Julie
Andalucia Guru
Posts: 3534
Joined: Sun Oct 31, 2004 4:47 pm
Location: Andalucia & Greater Manchester

Re: UK debit card charges

Postby Julie » Sun May 15, 2011 9:52 pm

I am not whinging I was simpling asking a question, nothing wrong with looking for a better deal, this last month it has cost me over 35 pounds to use my debit card here, which was free not too long ago, I am not broke, and the reason being, is that I like value for money.
You it appears like the sound of your own opinions, sadly for the people here on this forum.
No soporto ver la casa sucia, ahora mismo me levanto y apago la luz.

User avatar
knowal
Resident
Posts: 1868
Joined: Fri Aug 27, 2010 9:35 pm
Location: Garden of England
Contact:

Re: UK debit card charges

Postby knowal » Sun May 15, 2011 10:08 pm

Bowler wrote:I am not rich, but can anyone tell me here what is the obsession with saving a few penníes,euros, cents or whatever on financíal transactions, do you really expect it to be for free, I'm constantly reading about this and wonder if some of you are walking a fine line be<tween normlality and bancruptcy.
Are you related to Julian by any chance?
:lol:

User avatar
Campo Steve
Andalucia Guru
Posts: 3809
Joined: Fri May 01, 2009 5:08 pm
Location: Benamargosa & Comares Campo

Re: UK debit card charges

Postby Campo Steve » Mon May 16, 2011 7:03 am

by Bowler on Sun May 15, 2011 10:13 pm

I am not rich, but can anyone tell me here what is the obsession with saving a few penníes,euros, cents or whatever on financíal transactions,
Whilst saving a few cents for one short holiday may not amount to much, some of us that live here receive pensions, or pay, in pounds paid in the UK, or have our savings there, so have to transfer money regularly over the course of a year. Those few cents start adding up. Depending on how much you transfer over a year the savings could amount to enough to pay your IBI or car insurance, effectively making them free. Are you saying you wouldn't like free car insurance or no IBI to pay?

It certainly isn't the case that without those cents we would be in trouble, but why pay extra for something if you don't have to? It's not the way I was brought up and is one reason I am comfortable now.
I've got an inferiority complex, but it's not a very good one!

User avatar
Mowser
Andalucia Guru
Posts: 6388
Joined: Thu Sep 27, 2007 10:42 am
Location: Torre del Mar

Re: UK debit card charges

Postby Mowser » Mon May 16, 2011 9:22 am

unless you're a scot of course in which case the good old English will bail you out !
You are swiftly becoming a crushing bore. You add nothing to these boards apart from stereotypical BritNat prejudices. Awa' an' bile yer heid.
Image
Dave

markwilding
Andalucia Guru
Posts: 7114
Joined: Fri Aug 14, 2009 11:02 am
Location: Bilbao Spain

Re: UK debit card charges

Postby markwilding » Mon May 16, 2011 9:51 am

Bowler,
It is clear that these posts are completely lost on you.
We are not talking about a few cents here.It can be up to 10 per cent different if you compare a bank to a specialist exchange company.
If you read the OP post,it says shes withdraws quite a lot a month, so even 300 euros could be a saving of around 30 euros if she uses a specialist exchange company. even saying she withdraws that once every ten days makes a saving of 90 euros per month, thats 540 euros for the six months she's in Spain
If you feel thats trivial, fine but don't keep coming into a post speaking, and I quote Moswer here, "Giberish" because other people are more intelligent and sensible than you simply because they don't want to pay for their bank manager's holiday.
Meanwhile, let other posters share their knowledge and experience to help her save money.
Last edited by markwilding on Mon May 16, 2011 3:50 pm, edited 2 times in total.

User avatar
annfoto
Resident
Posts: 1335
Joined: Sat Dec 19, 2009 5:07 pm
Location: Coin Campo

Re: UK debit card charges

Postby annfoto » Mon May 16, 2011 10:03 am

Mowser wrote:
unless you're a scot of course in which case the good old English will bail you out !
You are swiftly becoming a crushing bore. You add nothing to these boards apart from stereotypical BritNat prejudices. Awa' an' bile yer heid.
I would like to add a word in there.
Bowler, you are an obnoxious crushing bore.
Ann

User avatar
peteroldracer
Andalucia Guru
Posts: 7442
Joined: Wed Oct 13, 2004 5:56 pm
Location: Los Alcázares, Murcia

Re: UK debit card charges

Postby peteroldracer » Mon May 16, 2011 10:35 am

One sort of transaction using a UK debit or credit card that can lose you money is if a return or refund is involved. We bought a washing machine from a big retailer here, using a UK credit card (for various reasons). The shop failed to deliver, claimed they would never have agreed to deliver on that day etc (too-common Spanish client 'service'!) so we cancelled the order, all within a few days.
We got the money back easily, but due to fees and the difference between buying euros on purchase and buying pounds to refund, it cost us nearly £20 - for absolutely nothing!
I was also able to point out to a Brit using a UK card at the Eroski tarjeta-pay fuel pumps that it could cost him for the same reason - one has to enter a maximum amount that you will pay for fuel, say 75€, then if you only fill with say 65€ the difference is credited back to your card. Fine with a Spanish card, but of course the same buy/sell problem comes up with a UK one. The 2% saving on fuel cost by using the self-pay tarjeta lane soon gets swallowed up.
I used to cough to disguise a [email protected] I [email protected] to disguise a cough.

BENIDORM
Andalucia Guru
Posts: 3770
Joined: Tue Nov 28, 2006 2:15 pm
Location: Granada Province

Re: UK debit card charges

Postby BENIDORM » Mon May 16, 2011 3:41 pm

Julie,
I've tried numerous different methods to transfer regular smaller amounts from UK, but to be honest I find using the Caxton FX Euro top up card to be the simplest method, not always the 'best rate', but realistic.
I know that you say you don't really want to use a 'top up' card, but I can only report that I am more than happy with it, and of course I don't pay the card charges from the airlines, when use it.

Regards,
Gordon..

Bowler
Resident
Posts: 295
Joined: Sat Nov 27, 2010 1:53 pm

Re: UK debit card charges

Postby Bowler » Mon May 16, 2011 9:33 pm

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

I've never been called a crushing bore before, I suppose it's better than being humourless and anally retentive !


Who is online

Users browsing this forum: No registered users and 4 guests