Charges for using a Nationwide debit card abroad?

  Mcfearty 14:40 09 May 05
Locked

Being a bit of a country bumpkin I have never used a card of any type to withdraw money from a cash machine or bank when abroad, and would be grateful for advice.

I have a Nationwide debit card, and they proudly boast that they don't make any charges when you use the card abroad (Europe).
Does this mean that I will get the true rate of exchange without any surcharge or will the issuing bank charge me for using their facility.

Grateful for all help received.

  Ancient Learner 15:58 09 May 05

I would 'phone them. There are 3 potential charges they could make. A commission charge of a % with a minimum charge. An interest charge on cash drawings. A foreign exchange charge in addition to the exchange rate. I know what they say, but, although they make the same promise on their credit cards, there are still charges in other ways. They may have other fiendish charges that they don't publicise.

I use Credit cards abroad, and keep them paid up. It is interesting to use different cards from different banks. A comparison of what you finish up with as the full cost, shows remarkable differences. At the moment, I find that a Mastercard works out over £3 cheaper to obtain Cash of €400 than my Visa card. Of course, that can easily change. It is a bit of a lottery I'm afraid. Finally, I should add that we have tried using our Debit cards (Maestro) and, amazingly find these are the most expensive to use abroad.

Whatever you do, don't make the mistake of trying Travellers Cheques. They are a pain, you need an open bank, and face long queues and passport showing etc. and the rate of exchange is the Tourist Rate, whereas using a card you get the commercial rate which is usually much better. Cash, of course, is too dangerous.

  pj123 16:26 09 May 05

Well, according to their latest TV ads they don't charge for using your card abroad. But that may only be for purchases not cash withdrawals (the ad doesn't say).

I didn't think a Debit card attracted any charges at all, only credit cards.

  exdragon 16:49 09 May 05
  exdragon 16:50 09 May 05

Why didn't that change to a click here? I copied and pasted as per instructions in Search, or so I thought...

  Stuartli 16:51 09 May 05

It's a somewhat different situation using either a debit or credit card abroad with all the additional involvement for the bank than a straightforward UK transaction.

I've always found Nationwide to be scrupulous in my dealings with it.

  TomJerry 16:53 09 May 05

my experience:

credit card (many different banks), pay goods, no charge and exchange rate is better than cash becuase the inter-bank rate (not expensive tourist rate) is used.

Debit card (with mastro symbole), withdraw cash from other European counties, no charge, good exchange rate again

  anchor 16:55 09 May 05

Have a look here,(debit card use is at the bottom).

click here

It states zero charge.

  Ancient Learner 17:30 09 May 05

Well. I'm looking at my Bank Statement for March this year. On it there is the record of me using my Maestro Card at an ATM in France, to withdraw €300. The rate is 1.4480 = 207.15, charge = £7.25 total debited on my statement = £214,.40

Whichever way I look at that. it is expensive, and there is definitely a charge.

I still suggest that it would be wise to speak to them and try to find out.

We have both just applied and got Nationwide Credit cards because of their publicity, and we will try them out later this year. Only by actually using them can you really know.

I was miffed when I used my Credit card to withdraw cash when my account was in credit, and I still got charged interest on the cash withdrawal, and despite a phone call to them they seemed to think it was in order and in accordance with their rules. (the account was and remained in credit throughout the whole of that account period and the next by the way)

  Mcfearty 17:31 09 May 05

I thank everybody who replied to my post, and so speedily. I'll phone my Nationwide branch tomorrow, but not being the adventurous type, I think I'll buy my Euros at the post office, and keep the debit card for a dire emergency

  Cannuck 17:38 09 May 05

The reason that didn't change to "click here" is because it's an e-mail address. Oooops

This thread is now locked and can not be replied to.

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