The Best Debit Card To Use Abroad

Two month ago when i was preparing my stuff for Toulouse tripe,i was looking to find an alternative way instead of cash. Someone suggested to use my debit card ,however he was not sure about the charges. Anyway today i've found this article which might be helpful for those of you whom like travelling, The Best Debit Card To Use Abroad By Serena Cowdy
In this article, I recently highlighted the fees and charges to watch out for if you use your credit card abroad.
But what about using your debit card while on holiday? Many people assume that using their debit card overseas means they won't be charged... but unfortunately, they're mistaken.
In fact, overseas charges on debit cards can really mount up. Here, I'm going to look at the worst offenders.
And I'm also going to highlight the 'good guy' - the only debit card that won't cost you any extra money to use it overseas.
A host of sneaky charges
There are several charges to watch out for if you use your debit card abroad. Use the wrong one, and you could be hit with four separate fees. Eeek!
Cash conversion charge
If you use most debit cards to withdraw money from a foreign ATM, you're likely to incur a cash conversion charge - typically of around 2.75% of the amount withdrawn.
Essentially, the higher the percentage fee, the worse the rate of exchange you're getting.
Cash transaction charge
Confusingly, many debit card providers also hit you with another ATM fee - a cash transaction charge (also known as a cash withdrawal charge).
This is also a percentage fee (typically around 1.5%) - but beware - there is usually a minimum charge of around £2-£3.
This means that customers withdrawing lots of small amounts will be the hardest hit: they could be paying an extra £3 for every £10 they withdraw - ouch!
So, it's worth planning ahead so you know how much money you're likely to need, and can withdraw larger amounts all in one go.
Putting these first two charges together - you could easily end up paying an extra £4 (or even more) on every £100 you withdraw from a foreign cash machine.
Paying for purchases
You might think you can avoid fees by paying by debit card directly for your purchases, rather than using it to withdraw cash. Unfortunately, most debit cards will charge you to do this as well.
Retail conversion charge
The first fee you're likely to face in this instance is a retail conversion charge. As with the cash conversion charge, this is typically around 2.75% of the amount spent on the card.
Retail transaction charge
And you may also be hit with a retail transaction charge. This is sometimes a flat fee (typically around £1.25), but can also be a percentage of the overall spend (typically around 2.75%).
All this means that if you use the wrong debit card to pay for something in a foreign shop, you could, again, be charged £4 or more for every £100 you spend - no better than withdrawing cash.
In summary
Are you wondering what your current debit card will charge you? Here's a breakdown of what to expect:


To check the table please visit http://uk.biz.yahoo.com/24062008/404/best-debit-card-use-abroad.html


A clear winner
As you can see, one debit card provider comes out head and shoulders above the rest.
Nationwide Building Society is the only provider that does not make any additional charges for using your card abroad. If you get a Nationwide FlexAccount Visa Debit card, you won't be charged any extra conversion or transaction charges - no matter how you use it.
You may decide that overall, you don't want to use the Nationwide current account as your main one all year round (check out this current account article to help you decide).
However, if you're organised, there's no reason why you can't use another current account while in the UK, and just use the Nationwide account when you jet off abroad.
Check out Nationwide's overseas usage calculator to find out exactly how much you could save.
The alternatives
Of course, there are certain circumstances when a debit card won't do the trick.
For example, some hotels and car hire companies insist you pay by credit card. And using a credit card mean you'll have extra spending protection under Section 75 of the Consumer Credit Act.
If it's too late to open a new current account before you jet off, you can still save a packet by finding The Cheapest Way To Get Your Holiday Cash.
Whatever method you choose, forewarned is forearmed. A bit of research could help you avoid a host of charges - so you can spend your holiday money on something fun, instead.
Good luck!



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