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Post by Deleted on Aug 22, 2010 13:41:37 GMT 2
We have used the Post Office Travel Money Card both in Europe (France and Spain), and in the UK. As you may already know, one can load up the card online to the sum of £2500, or at a Post Office Branch, to £5000. Same rates apply when withdrawing cash from ATMs with the Visa sign. If the card is lost, it can be replaced at the home address, or if abroad for instance, by courier to the address for a fee.
We like the idea of having money in the one place. It is an extra security because one does not need, or need to carry other cards around. If you lose a Credit or Debit card, then one could lose all your money. If you lose the POTM Card, or it is stolen, one could only lose what is on that card. Cessation of the card is a phone call away.
Topping up, if needed is easy also. We would recommend it on the security aspect alone. However, do not expect huge exchange rates, the Post Office is not the best, but with the way the Nationwide has gone, I believe such cards as the POTM stand in good stead.
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Post by cuthbert on Aug 27, 2010 16:25:27 GMT 2
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pete sant
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Post by pete sant on Aug 27, 2010 16:28:45 GMT 2
I've just added my vote Cuthbert but i'm not holding my breath. pete.
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Post by Deleted on Aug 27, 2010 16:53:02 GMT 2
Probably not a chance in hell of a turn around. Nationwide have notified its customers of its intentions, with still two months to go. By then most holidays will be over, and no one will want foreign currency until next summer, (not everyone I know, but most).
They have given good reason as to why they are doing it. All part of the economic downturn I would suspect.
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Post by artisans on Aug 27, 2010 20:50:14 GMT 2
Don't forget that Nationwide is a mutual society and they be one of the few organisations that listens. It's worth a go - go to Cuthbert's link and make your voice heard - you are never too small to make a difference!
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Post by artisans on Aug 29, 2010 9:11:05 GMT 2
Pete has mentioned using the FX card which we feature in our links page. Here is a link to a website called 'Sendmoneyhome' which offers comparitive rates. The conversions are for an amount of£1000 when transferring from one bank account to another. Maybe someone can find another site for conversion into cash. It would seem that FX & NoBanx are the best deals on transactions of this type in amounts of this size. EXCHANGE RATES
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Post by artisans on Aug 29, 2010 9:25:12 GMT 2
I have contacted NoBanx to see if they can quote rates for cash conversions within the UK. Their bank-to-bank transactions carry a fee of just £1.20 on £1000 and they are currently quoting 1.215 euros to 1 GBP - that is what you actually receive in your hand.
Steve
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Post by kathwebber on Nov 2, 2010 16:14:05 GMT 2
Has anyone done any further research on the best way to obtain euros now that Nationwide are going to charge for withdrawals? I think I saw an advert for a Sainsbury's credit card that could be used abroad with no charges but not sure of the exchange rate they will offer (nowhere near as good as Nationwide I suspect).
regards, Kath.
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Post by kathwebber on Nov 2, 2010 16:22:10 GMT 2
Ignore the above, have just realised there is a £5 monthly fee for the card!
regards, Kath.
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pete sant
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Post by pete sant on Nov 2, 2010 19:10:33 GMT 2
Hi Kath, i've been looking around and even with the charge the Nationwide card is still one of the best you can get, given the top exchange rate that they give you i'll probably still use it next year. Might pop in & see them to find out if you can have the upper limit on how much you can draw out each day increased, if you can it might still be the best bet. pete.
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Post by kernowman on Nov 2, 2010 21:13:33 GMT 2
For many Nationwide customers there is an additional problem in that they are closing all their Agency Branches. The nearest Branch for me is now 1 hour round trip away with a toll bridge to pay for. The local branch here in Launceston tell me they are closing Nationwide accounts in increasing numbers everyday since the announcement was made. I obtained a Halifax Clarity card for our trip to Corfu this year. Perhaps I was unlucky but couldn't get it accepted while I was there so I have cancelled it. Next to try is a Caxton Card which is similar to the Fairfax card but there is no charge to get it and no withdrawal fee in Europe. Pays slightly poorer excharge rate but that outweighs Fairfax withdrawal fee. Time will tell
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Post by kernowman on Nov 6, 2010 18:22:13 GMT 2
I can'y help but wonder if Nationwide are in difficulties. My wife had a letter today telling they are cutting the interest rate on her savings account from around 2.75% to 1.75% as if it wasn't already low enough. Next job close the boss's saving account and move it elsewhere! The manager at Natwest in our local town told me yesterday they have been switching accounts across from Nationwide at more than one a day since Nationwide announce they were closing all agency branches at the end of the year.
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pete sant
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Post by pete sant on Mar 23, 2011 11:57:22 GMT 2
Just a quick note , friends of mine have just returned from two weeks in the Canary's, they withdrew £750 from the hole in the wall using their Nationwide flex account card - total cost £9 - personally i don't think that's too bad a price for the safety & convenience it offers. pete.
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Post by kathwebber on Mar 23, 2011 13:08:20 GMT 2
Hi Pete, thanks for that - I think we'll continue to use our Nationwide account for holiday withdrawals and we did enquire if we could increase the daily amount allowable for withdrawals but were told NO!
regards, Kath.
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pete sant
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Post by pete sant on Mar 23, 2011 19:11:08 GMT 2
Hi Kath, i asked as well & was also declined - they said it was for security reasons - if your card was stolen, they could only get 300 at a time, still at £3 for £250 it'll do for me. Just need to get some cash put in there now. pete.
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