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" ATM Withdrawal Fee's On Holiday "

swinton,south...
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" ATM Withdrawal Fee's On Holiday "

The true cost of withdrawing money from foreign

atm's while away on holiday, with Britons facing a

total bill of more than £260million annually, for

simply taking cash out on their credit & debit cards.

When on holidays abroad, spending money and

financial security is often a thing a traveller thinks

about.

A poll carried out on the habits of Britons, of which

2,107 Britons responded, each of whom had been

abroad in 2011.

They were asked if, on their last holiday, they

withdrew cash from an atm, using their debit and

credit card, the majority 67%, said they did.

They were asked to state the amount, approximately,

they had been charged for doing so, to which the

average answer amounted to £2.75 in GBP.

People who used the atm abroad on their last holiday,

were asked how many times, the average was 5 times

per person.

When taking the charges into account, the fees would

amount to £13.75 per holidaymaker, for withdrawing

money on holiday.

There were 36.2million holiday visits abroad made by

U/K residents in 2011.

28,598,000million adults make up part of this figure,

considering that 67% of adult U/K holidaymakers used

a credit card, to withdraw money at a cash point on their

last holiday, and each were charged £13.75 on average

per holidaymaker, for the privledge.

This would equate to £263,459,075 spent on charges

for withdrawals at atm's.

Yorkies view.

These figures are astounding, it shows what banks are

making from their customers, then you have interest

charges if the credit card is not paid off in full when due.

Not forgetting what the banks are making on normal

activities on the home front, with credit cards.

.

When we are abroad I take cash in sterling & the countries

currency, we are going to.

We also take a credit card in case of emergency, knowing

that everything can be catered for.

The main thing to do is get a safety deposit box in your

hotel, you keep money, passports, cards & other documents

in the safe.

We would never draw cash on a credit card, or a debit card,

( Nationwide did have a no-fee debit card, but now charge )

Please be wary of using a pre-paid card, this is expensive

to use, a travel agent may try to get you to pre-load a card.

I had one, I loaded £1,000 on it, there was a 2% charge,

so total cost £1,020.

Then there was a atm fee of £1.50 each time used, also

a lower exchange rate given.

I had a discussion last week with the Thomas Cook manager

about this card, & I told her it was a rip off.

* You can pre-load euro's & American dollars ( plus other's )

for free, but not £ sterling. *

My advice take cash, & carry a credit card for emergency !

swinton,south...
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1. Re: " ATM Withdrawal Fee's On Holiday "

I tried to load this topic earlier, but yet again I had

another wipeout, one & half hours work down drain.

this has happened a few times !

Scotland, United...
Destination Expert
for Fethiye
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2. Re: " ATM Withdrawal Fee's On Holiday "

You can draw Sterling on a Nationwide Card without paying a fee. We have done it lots of times. They say on their website that charges will be made for all none Sterling withdrawals. We drew sterling last September in Calis at the ATM and where not charged.

swinton,south...
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3. Re: " ATM Withdrawal Fee's On Holiday "

withdraw sterling is correct FJ.

But has I said foreign currency you are charged.

Nationwide announced in July 2010, that the Flexaccount

which had a no-fee on withdrawals of money from atm's

abroad, would from 1st November 2010 be charging a fee.

.

The announcement - 31st July 2010

Nationwide is to end its policy of free withdrawals from

foreign cash machines - Nationwide announce that customers

using a debit card at cash machines outside the U/K, will

in future pay a commision charge of 2%, plus a flat fee of £1.

The society said that this was no longer sustainable to the

society.

Nationwide offered free insurance as a incentive to carry on

using the card.

Has you say FJ you can get sterling, but still have to change

the currency, o/k if you getting a good rate.

But if you draw foreign currency you have charges of -

2% commision charge

£1 flat-fee charge

Also loose out on bad exchange rate given at atm.

ps Exchange rate in resort in 2010 was 2.35T/L

Atm machine in resort 2.18 & 2.19

So a big loss using the atm's.

Don't forget Nationwide passed on a 1% fee in May 2010,

for transactions outside the U/K.

swinton,south...
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4. Re: " ATM Withdrawal Fee's On Holiday "

Plus I would mention that -

The pre-loaded cards have a yearly administration charge,

if you don't use the card.

Scotland, United...
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for Fethiye
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5. Re: " ATM Withdrawal Fee's On Holiday "

I think for tourists coming to Turkey, instead of carrying large amounts of Sterling, if they have a Nationwide Card, it's easier to draw it in Sterling as you need it and then get it changed. Of course, a lot places will accept Sterling in Turkey. We have often paid bills in Sterling, including our Dental bill (and we got a discount for cash)

The exchange rate at the A.T.M. is always good and will change from day to day to keep up with the markets. We have always been pleased with that .As we also have a Bank Account in Turkey we are careful that when using the ATM for Sterling that we get a good rate of exchange.

London, United...
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6. Re: " ATM Withdrawal Fee's On Holiday "

I use my Santander Zero CC. Before I go, I do an internet transfer for most of my holiday money into the account and then withdraw free of charge (and incur no interest either). This means I can withdraw money every few days without worrying about having large amounts of cash getting lost or stolen. CG x

swinton,south...
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7. Re: " ATM Withdrawal Fee's On Holiday "

Sorry FJ don't agree with you,

I have used a card in Calis Beach has mentioned & got

only 2.18 & 2.19 from atm, where has in resort 2.35.

You say atm always good, no has far has I have proved

this to be.

I did a report on this when I exchanged money, I used

atm's at - water taxi bridge & next to taxi rank near non

existent dolphin roundabout.

Sheffield
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for Ovacik, Hisaronu
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8. Re: " ATM Withdrawal Fee's On Holiday "

Choir Girl. I too have a Santander Zero C. C. I have used it to pay for items but never done what you are suggesting.

Did you draw your money out in Lira or Sterling, if it was Lira, then it is a good idea, & I might follow suit.. If its sterling, then will stick with my Nationwide Card & draw out sterling, if its needed.

Scotland, United...
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for Fethiye
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9. Re: " ATM Withdrawal Fee's On Holiday "

O.K. Yorkie we will agree to disagree. However, will double check again next month and let you know.

As for Santander I had really bad trouble with them and cancelled my account. In fact I had so much bother I actually contacted a newspaper and once this happened I had a full apology from Santander and a case of 12 bottles of wine.

There are quite a lot of terms and conditions and demands with their Zero CC card. read this thread

lovemoney.com/qanda/question/147613/santande…

London, United...
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10. Re: " ATM Withdrawal Fee's On Holiday "

Have used my Santander Card with no problems whatsoever. Luluabell we get money out in Lira. This card is only a good deal if you either transfer money as soon as you withdraw it (i.e. from a current account and as I bank with Santander the transfer is instant) OR you estimate your spending money in advance and do the transfer before you go on holiday otherwise you will be charged INTEREST on the transfer but there will not be a charge for the withdrawal. I have not had any problems doing it this way and it is far safer than carrying lots of dosh around!

We still take a couple of hundred cash for the first few days and use this to haggle for trips and in the market!

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