hi, going to be arriving in thailand from the uk to begin my travels in SE Asia.
i have called my bank (Natwest) to inquire about atm charges, which are 2.75 % to a max of £5, then about 2% for the charge to convert to local currency- this seems way to high.
i called my credit card company and they charge 3% on cash withdrawn.
does anyone know of any banks in the uk that dont have these charges as i can imagine they will add up over 6 months? or is there another way around it as i dont want to carry lots of cash or travelers cheques?
#1 g_singh has been a member since 3/7/2007. Posts: 24
There's been a good thread about this is the past:
What is a good credit card for travellers seems the Nationwide debit card is the way to go...
The Nationwide debit card is def the way to go. It allows FREE cash atm withdrawals anywhere abroad (ie: no commission charges).
#3 rakhee2108 has been a member since 8/3/2007. Posts: 55
used the nationwide flex account debit card for years ,no problem .There exchange rate appears better as well .
#4 freenote has been a member since 4/12/2006. Posts: 11
As others had said, the Nationwide debit card is the way to go - I learnt the hard way during my round the world trip when HSBC got a fortune from me in cash withdrawal fees!
As freenote says, the exchange rate with Nationwide is also better as they don't charge you any commission fees on the transaction either - so you basically get the bank exchange rate on any transactions. As an example, I purchased some US$ recently from a travel agent for a forthcoming trip and got 1.92 to the pound yet when I ordered hockey tickets online, Nationwide gave me 2.02!
The Nationwide credit card also doesn't charge any commission fees on foreign transactions, but does have a cash advance fee - so always get cash on your debit card.
hi, opened an account with nationwide over the weekend. relatively painless experience.
thanks for all the input!
#6 g_singh has been a member since 3/7/2007. Posts: 24
i dont know if this is generic. I have an AIB irish visa card, and i rang card services before i left. if you keep your credit card in 'credit' all withdrawals are without commision (aside from the actual atm commission in countries like laos and vietnam). We are away for 9 months and this has helped a lot with our budget. Of course you will have to check with your own card provider to see if this is the case with all visas?!
#8 walshelaine has been a member since 20/10/2007. Posts: 6
oh.... important point to note tho... if you have
$99- cr in your account and take out $100- thus putting account into debit of $1- you have to pay commision on the whole withdrawal, so if using this method, its handy to keep an eye on your balance on internet banking if possible to make sure account actually stays in credit.
Hope that helps!
#9 walshelaine has been a member since 20/10/2007. Posts: 6
We've just added a feature story, "How to manage your money while travelling in Asia" and have tied it to a new thread in the messageboard regarding money management while travelling in Asia.
I'm going to lock off this thread so that we can try and get all the money questions and answers in the one place.
This discussion has been locked by a moderator.