After reading up on MoneySavingExpert, I decided to look more closely at the cost of using our usual debit cards in France (which is what we have done for last few years). I hadn't really noticed the extra costs of doing this, but ....
Unfortunately, I found out that both Mr U-M's card and mine both charge a min £1.50 for every cash machine withdrawal abroad, plus a commission on the conversion of over 3%. Likewise, using the debit card at the tills in France would cost us conversion commissions - so pretty difficult to avoid the costs whichever way you use your card.
To be fair, we don't spend a huge amount when we are en France, but even a couple of trips to the cashpoint and the supermarket must have been costing me more than it needed to.
The card recommended was a Halifax Clarity Card. There are no fees for withdrawals abroad and the amount is converted at the prevailing rate (without extra commission). The downside is that cash withdrawals attract interest from the moment of withdrawal, but overall it looked a much cheaper deal for us - assuming we will settle up on our return home. The card rate is 12.9% APR.
I also thought it would be useful if we use the toll roads (Peage) instead of carrying wads of Euros.
Initially, I thought it couldn't possibly be better to use a credit card than a debit card, because of the interest but it seems I was being a bit ignorant. As was suggested by Martyn Lewis, I have now applied for one just for the purposes of going abroad.
Just thought I'd share this with UKCS in case it helps anyone else.
Don't forget to leave a review of the French and other European campsites you have visited!
Quote: Originally posted by Ulti-Mates on 05/6/2011
Hi
The downside is that cash withdrawals attract interest from the moment of withdrawal, but overall it looked a much cheaper deal for us - assuming we will settle up on our return home. The card rate is 12.9% APR.
I am a Halifax customer but didn't use they credit card until this deal came out. As stated in the OP I can confirm those details.I have just received my card which took about 10 days to arrive.
As for cash withdrawals I don't think their rate is any diferent to any other bank.
We used to use the Nationwide Credit and debit cards, but they recently started charging to use the debit card.
As per MSE, we now have the Halifax Reward Clarity Card, in fact we have one each, and as we are Halifax current account holders, we get £5 on each card if we spend at least £300 on each card in the month.....which is easy when on holiday!
We are now using these at home too, all spending goes on our cards, so we usually get the 2 x £5 every month.
We are also using them for cash withdrawals, so once we are home I will total up the interest and see how it compares. We are on a rate of 12.99%, so it's around £1 per £100 per month. We have DD's set up to pay the balances each month.
As we are away for 3 months, we could save a little by paying off the cash advances early, but with uncertain internet access, we have not bothered to do that this time.
How do the unmanned lanes work. How does it know which band to charge.
harryb
It has a height sensor, it comes up on the screen what class you are being charged, if you think its wrong, press the buzzer & somebody will come. Junctions onto minor roads can sometimes be completely unmanned, peage takes either cash in slot or cards, what happens if that malfunctions, I know not.
just like the folk above we used Nationwide and post office cards the nationwide ordinary card has changed but the upper level one is just like the post office card and the halifax we go the halifax recently before I found out that the nationwide card i had was still ok so now it is belts braces and a piece of string
beware when you get your cash abroad - you do have to pay interest and it is from the day you withdraw it until the day you actually pay the bill of this can be virtually two months at the exhorbitant rates they charge in the end it is a lot of money just pay by credit and you have none of these problems
Don't forget to leave a review of the French and other European campsites you have visited!
I've got one of the Halifax Clarity cards too. Started off with the Nationwide card, but with the charges they introduced towards the end of last year wanted to look at something else cheaper as I work abroad for periods of time but am paid in sterling. Not had any problems with it, and as I have direct debit set up to pay my balance off every month works well for any purchases I make. Most of the activity tends to be cash machine withdrawals, but even then it works out pretty well, only about £1 for every 100 Euros I withdraw and the exchange rate is competative.
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Topic: Halifax Clarity Credit Card for France
