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Saga have changed Credit Card suppliers so I've just applied for their new Platinum Card to replace the old one.

 

If I read the small print correctly it'll cost me 2% for cash withdrawals. I'll get the Visa exchange rates, use any ATM with the Visa sign, no charge for its use in Europe and pay no interest if my bill is paid off before the due date (up to 55 days). That shouldn't be a problem as I pay by Direct Debit.

 

If I'm right that's £20 for drawing out £1,000 worth of euros - can anybody beat that.

 

It seems too good to me so perhaps somebody will have a look and prove me wrong!

 

I don't like carrying too much cash, generally bringing 100 to 200 euros home with me for the next trip down, so £20 not to worry about carrying cash and paying the bill after the event too will do me.

 

Might be a bit of concern that it's being run by Allied Irish Bank. The C. E. O. had some rotten eggs thrown at him a few days ago by irate shareholders I believe.

 

Scales

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Is there a minimum charge made? - don't think any of us like to carry 1000 euros around, so, if there is, could make drawing out 100/200 euros expensive.

 

no fees at all with Nationwide, but thats on their debit card. Bought currency online yesterday for Euroland and Skandinavia from Travelex, through Nationwide, and was able to pay with a Visa credit card without extra charge - if I had wanted to use Mastercard, would have been 1. 5% added. delivered today - brilliant service.

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This is quite a common question and the answer, invariably, is to open a Nationwide Flex account.

Rate of exchange on the day and no charges. Excellent method, but they are now charging for use outside of Europe. Not too sure about Turkey and other bordering countries though.

Cheers,

Jim.

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Jim,

I would agree with you on the Nationwide. We have a Nationwide Cashcard (not a debit card) linked to a Flexaccount and this enables us to draw cash worldwide from any ATM. There is no withdrawal charge and we get the wholesale commercial exchange rate which is around 5cents more than the tourist exchange rate. As I understand it at the moment, the extra charges will only be applied to a Visa debit card when used outside the Eurozone and do not affect the Cashcard. The Cashcard can only be used for cash withdrawal, it cannot be used for purchases and of course any cash comes straight out of your account. We also have a Nationwide Credit card which has also has no charges when used overseas and again we get the wholesale exchange rate.

 

The Saga card looks attractive but note there is a minimum fee of £2 or 2% it would not be advisable to use for withdrawing small amounts, whereas this is not a problem with Nationwide. Saga do not say what exchange they will use, the wholesale or tourist one.

Brian

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Scales

 

On a recent shopping/wine trip to Calais area on 22nd April using my Nationwide visa credit card got a rate of 1. 117679 to pound.

 

John

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Is there a minimum charge made? - don't think any of us like to carry 1000 euros around, so, if there is, could make drawing out 100/200 euros expensive.

 

no fees at all with Nationwide, but thats on their debit card. Bought currency online yesterday for Euroland and Skandinavia from Travelex, through Nationwide, and was able to pay with a Visa credit card without extra charge - if I had wanted to use Mastercard, would have been 1. 5% added. delivered today - brilliant service.

 

If you draw cash on Nationwide credit card you will pay interest from withdrawal date to repayment date and doesn't buying from Travelex count as a cash withdrawal? So, why not draw direct from the Nationwide credit card? Or, why not draw the cash from ATMs in whatever country you are visiting? That way you don't have large amounts of cash on you. And, if you put the card in credit before you leave you won't pay any interest.

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If you draw cash on Nationwide credit card you will pay interest from withdrawal date to repayment date and doesn't buying from Travelex count as a cash withdrawal? So, why not draw direct from the Nationwide credit card? Or, why not draw the cash from ATMs in whatever country you are visiting? That way you don't have large amounts of cash on you. And, if you put the card in credit before you leave you won't pay any interest.

 

 

We have a nationwide flex account with debit card, and also their credit card. Use the debit card for cash from atm's and the credit card for purchases. It suits us and also gives us flexability.

 

Pete

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I've got a Post Office card that I only use for spending abroard. It doesn't charge commision and from what I recall to save carrying a wad around you can put the cash in before you go and draw it out of an ATM at no cost and usually a good rate.

Volvo XC60 Momentum Pro D4 pulling an Elddis Crusader Mistral

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There was a report on BBC Breakfast today on best deals for foreign exchange based on a recent Which report. You can read the Which summary reports here

http://www. which. co. uk/advice/how-to-cut-t. ..rency/index. jsp

http://www. which. co. uk/advice/how-to-cut-t. ..broad/index. jsp

Brian

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Last year we used a Nationwide Card for Cash at ATMs and the Platinum Saga Card for Diesel ext (Saga use the Interbank rates same as NW and it worked in all the Auto Fuel pumps we tried)

Edited by CaravanLady
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If you draw cash on Nationwide credit card you will pay interest from withdrawal date to repayment date and doesn't buying from Travelex count as a cash withdrawal? So, why not draw direct from the Nationwide credit card? Or, why not draw the cash from ATMs in whatever country you are visiting? That way you don't have large amounts of cash on you. And, if you put the card in credit before you leave you won't pay any interest.

As I said - I used a (Nationwide) Visa credit card for the Travelex deal and there were no extra charges - this in effect gives me 7 weeks free credit until I pay my account in full.

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As I said - I used a (Nationwide) Visa credit card for the Travelex deal and there were no extra charges - this in effect gives me 7 weeks free credit until I pay my account in full.

Whilst you may get a few weeks of credit, on BBC breakfast this morning, a survey by Which found that Travelex gave the worst exchange rate of all. See my post above. You would be better off by using your Nationwide credit card direct for purchases and thus get the wholesale exchange rate.

Brian

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As I said - I used a (Nationwide) Visa credit card for the Travelex deal and there were no extra charges - this in effect gives me 7 weeks free credit until I pay my account in full.

 

I may be wrong but the charges would appear on your credit card statement as interest from the day of purchase. I think using Travelex is not a purchase but a cash advance certainly, at least, it is where travel agents are used to obtain foreign currency. My daughter got caught a couple of years ago.

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I am using a Nationwide flex account debit card, and will use it to draw cash from the ATM's in France. Last year we incurred no fee for using the ATM and we got a good rate. Hope it's the same this year.

Regards
Ian

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Jim,

The Saga card looks attractive but note there is a minimum fee of £2 or 2% it would not be advisable to use for withdrawing small amounts, whereas this is not a problem with Nationwide. Saga do not say what exchange they will use, the wholesale or tourist one.

Brian

 

Thanks Brian, i hadn't spotted that, assuming the Visa area also meant Visa exchange rate which I've always found pretty good.

 

Scales

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There was a report on BBC Breakfast today on best deals for foreign exchange based on a recent Which report. You can read the Which summary reports here

http://www. which. co. uk/advice/how-to-cut-t. ..rency/index. jsp

http://www. which. co. uk/advice/how-to-cut-t. ..broad/index. jsp

Brian

 

 

Saga seems to come out quite well but I reckon the rates quoted will be for the old card, not the new Platinum Card.

 

Scales

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Noting all the above I'm still tempted by the Saga Platinum Card. For a start I'm not spending my money (until I pay the bill)

 

O. K. it's 2% or minimum £2 for each ATM transaction, but i normally withdraw at least 150 euros to ensure I don't overpay.

 

Interest free sounds good to me.

 

I'll try and find out what exchange rate they use.

 

Scales

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I may be wrong but the charges would appear on your credit card statement as interest from the day of purchase. I think using Travelex is not a purchase but a cash advance certainly, at least, it is where travel agents are used to obtain foreign currency. My daughter got caught a couple of years ago.

Oops!!! ignore my previous posts - you are right Beejay, the charge has appeared on my cc statement. the comments on the Travelex website (that I accessed through Nationwide) clearly stated "there are no charges for using a Visa card, but 1. 6% if you use Mastercard, I reckon are pretty misleading and am taking this up with Nationwide.

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