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Stalwart
Posts: 950
  
Location: Grange Moor, West Yorkshire Elnagh Slim 6
| Hi All
Anybody going to Europe in the near future?-Just had an email from Caxton to offer special rate of 123.5 euros to the pound with no min/max amount for 24hrs only (offer finishes 17.00 30.05.2012)
Best rate I can see anywhere on line is 122 so not a bad offer
Mike |
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Regular Visitor
Posts: 213
Location: AutoTrail Tracker EKS July 2011
| Get a Nationwide credit card. Current exchange rate 1.2466 euros to the £. |
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Stalwart
Posts: 950
Location: Grange Moor, West Yorkshire Elnagh Slim 6
| If that is without charges or commission, then it is very good. I've just checked the bank rate and that is only 1.2404 so the Nationwide tourist rate is better than the bank rate.
Mike |
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Stalwart
Posts: 2453
Location: Cleveland Autocruise Alto
| Ive just changed £300 the rate was 1.15 at P.O office poor I thought as it was showing 1,25 on line  never mind my Nationwide credit card will give me better rates when in France  I hope. |
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Stalwart
Posts: 815
Location: Portsmouth, A/S Windsor 2008, 2.4L Ford RWD
| Just got back from France/Spain and can confirm that both Nationwide debit and credit cards give the commercial rate for the Euro and not the lower tourist rate. Statements waiting on the doorstep.
The only difference between the 2 cards is that there is a 2% charge levied on the debit card and no charge on the credit card. Presumably because Nationwide make more money out of the credit card from the shops/stores etc and not being greedy pass 2% on, which means Nil charge to us for the credit card. They still of course make more overall from the credit card.
Funny old world of finance aint it, most Card providers and supplires sting us on a credit card and have no charge for a debit card. Confused but happy with Nationwide.
Mike  |
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Stalwart
Posts: 8597
 
Location: London. 2011 2.3 Adria Twin SP
| mike 202 - 2012-06-02 6:34 PM
Just got back from France/Spain and can confirm that both Nationwide debit and credit cards give the commercial rate for the Euro and not the lower tourist rate. Statements waiting on the doorstep.
The only difference between the 2 cards is that there is a 2% charge levied on the debit card and no charge on the credit card. Presumably because Nationwide make more money out of the credit card from the shops/stores etc and not being greedy pass 2% on, which means Nil charge to us for the credit card. They still of course make more overall from the credit card.
Funny old world of finance aint it, most Card providers and supplires sting us on a credit card and have no charge for a debit card. Confused but happy with Nationwide.
Mike
I bring a lump of cash and use Nationwide cards. But just to clarify. if you use the nationwide credit card to withdraw money at an ATM you will be charged interest...is this correct? |
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Location: E Yorks, 2012 Autocruise Accent on Fiat 2.3 130bhp
| JudgeMental - 2012-06-02 7:13 PM
I bring a lump of cash and use Nationwide cards. But just to clarify. if you use the nationwide credit card to withdraw money at an ATM you will be charged interest...is this correct?
You are correct Judge - if you withdraw money from an ATM on a CREDIT card you will be charged interest from the day you withdraw the money - I assume this is because they cannot pass the charge onto anyone else - if you used a credit card to buy an item in a shop, the shop would bear the charge as part of their agreement with the credit card company.
We took a small amount of cash with us, and used our Caxton card as well, these, along with our Nationwide credit card, worked fine for us. Getting cash out using the Caxton card was easy-peasy and rather than leave the balance of the money on the card, at the end of our holiday we just went to the ATM a couple of times before we returned and drew it all out. |
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Location: Herefordshire - Motorhome = 2005 Hobby T-600 FC
| Before obtaining money from an ATM (a "cash advance") using a credit card, it's as well to study the full terms and conditions relating to the card. For example, using Nationwide's "Select" credit card for a cash advance not only involves a high rate of interest being applied from the date of the cash advance, but also a charge of 2.5% (minimum £3) on the amount of cash withdrawn. |
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Stalwart
Posts: 603
Location: North Yorkshire Dales - Kontiki 640 Hank the Tank
| This year I am going to be using the Halifax Clarity Credit Card. I also opened a Halifax Reward account which if you pay in £1000 in any month gives you a £5 reward. I bung money into this account from my main accounts which I can do online and a direct debit is set up to pay off the credit card each month so I never get charged interest.
The Credit card is free to use all over Europe and gives the commercial exchange rate (dont think you will find better). There is a small charge for cash withdrawls but the £5 reward makes up for this and the nearer you withdraw cash to the end of the month the less you pay but if possible pay with the card and you get charged nothing!
I also have the old Nationwide Flex DC but as they started charging the Halifax is I think the best option available right now. |
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Contributor
Posts: 300
Location: Suffolk and Czechland
| Change my money before I go anywhere (Into Euros and whatever else I need) then I don't have the hassle of finding an ATM or the risk of it being 'cloned' in some way, a small risk I know but the time saved alone makes it well worth it for me. |
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Stalwart
Posts: 1090
Location: Edinburgh, Scotland
| Just one small additional comment.
If you have a Santander account check as they offer free withdrawals at their ATM's in Spain. |
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Stalwart
Posts: 1090
Location: Edinburgh, Scotland
| By the way it looks likely the B of England will do more QE (back door devaluation) on Thursday so the rate may driop. Possibly buy while you can |
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Stalwart
Posts: 2453
Location: Cleveland Autocruise Alto
| JudgeMental - 2012-06-02 7:13 PM
mike 202 - 2012-06-02 6:34 PM
Just got back from France/Spain and can confirm that both Nationwide debit and credit cards give the commercial rate for the Euro and not the lower tourist rate. Statements waiting on the doorstep.
The only difference between the 2 cards is that there is a 2% charge levied on the debit card and no charge on the credit card. Presumably because Nationwide make more money out of the credit card from the shops/stores etc and not being greedy pass 2% on, which means Nil charge to us for the credit card. They still of course make more overall from the credit card.
Funny old world of finance aint it, most Card providers and supplires sting us on a credit card and have no charge for a debit card. Confused but happy with Nationwide.
Mike
I bring a lump of cash and use Nationwide cards. But just to clarify. if you use the nationwide credit card to withdraw money at an ATM you will be charged interest...is this correct?
No there is no charge with the credit card I specifically asked in our branch when they offered me one when I was complaining about the charges, I also set it up so they paid the balance monthly.
Edited by maggyd 2012-06-03 5:04 PM
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