Important info for Nationwide Card Users

[wayneg]

Well that's it for me with Nationwide after June, then. I'll look into another card or go back to TCs. I'm not paying to get to my OWN money.

Luckily we're going in April

TC announced before N/Wide they were implementing fees, at least N/Wide is only going to be 1%, TC will be 2.5%.

New terms for TC after 17th April
You'll be charged a 2.5% foreign exchange fee for all purchases and cash withdrawals abroad (the additional 2.99% cash handling fee still applies to cash withdrawals at home and abroad as before).

From their website
http://www.thomascook.com/money/thomas-cook-credit-card/changes/

 

[Kath2003]

I meant travellers cheques

 

[wayneg]

I meant travellers cheques

Do they still do Travellers cheques?

 

[Kath2003]

Do they still do Travellers cheques?

Yup. Doesn't cost you anything to use them either

 

[Frances999]

Yup. Doesn't cost you anything to use them either

Whilst that is correct to a degree, it isn't always the cheapest option. Using a fee-free credit card offers you access to the commercial/interbank exchange rates, whereas purchasing travellers cheques offers the tourist rate only.

 

[wayneg]

Yup. Doesn't cost you anything to use them either

Thats debatable, there is usually approx a 4-5% fee in the conversion rate. Today exchange rate for a fee free card is $1.43/£1 Post office TC's $1.37, 6 cents or 4.25% fee. Worse than any credit card but buy now and then the rate drops you win, rates rise you lose your 4.25% fee + howerever much it rises.

 

[Kath2003]

Thats debatable, there is usually approx a 4-5% fee in the conversion rate. Today exchange rate for a fee free card is $1.43/£1 Post office TC's $1.37, 6 cents or 4.25% fee. Worse than any credit card but buy now and then the rate drops you win, rates rise you lose your 4.25% fee + howerever much it rises.

True but credit cards generally charge you to take out CASH abroad. TC's offer reasonable alternative and are easily accessible to everyone (whereas opening a new credit card can be hassle - particularly if you don't bank with the provider).

 

[Frances999]

True but credit cards generally charge you to take out CASH abroad. TC's offer reasonable alternative and are easily accessible to everyone (whereas opening a new credit card can be hassle - particularly if you don't bank with the provider).

All credit cards will charge hideous interest rates on cash withdrawals made overseas, so it's definitely something to avoid. Having said that, IMO, there is no need to withdraw cash - virtually everywhere takes cards and you can use them for any type of purchase irrelevant of the total cost.

 

[wayneg]

The Abbey Zero card I believe is no fees on cash withrawals (although interest is no doubt charged from day 1)but thats not something I have looked into, we never use cash anymore, last trip was about $5 for tolls, everything else on fee free credit card.

 

[Kath2003]

The Abbey Zero card I believe is no fees on cash withrawals (although interest is no doubt charged from day 1)but thats not something I have looked into, we never use cash anymore, last trip was about $5 for tolls, everything else on fee free credit card.

We use public transport, so you need cash for that. What about things like parking?

 

[wayneg]

We use public transport, so you need cash for that. What about things like parking?

We have Annual passes for all parks from Uni down to Busch so not paid parking for a few years now but I believe they all accept credit cards.

 

[Lizzybear]

Whilst I don't use TCs anymore I can see the merits of them, mainly for those who don't want to or can't use a credit card for whatever reason. In Orlando I would imagine everywhere takes credit cards but in areas with more independent/small businesses that's not always the case.. A few places we ate at in California were cash only.