 Poster: A snowHead
|
Last year (well April) I got cash from a cash point at Munich airport and immediately paid enough money back to credit card to get cash for holiday. All successfully and no interest / charges on credit card.
Hubby recently went to Holland and attempted the same and we got charged 96p
Have I missed a change in T&C? Or did he do something wrong on getting cash out? I am surprised it doesn't tell me the exchange rate used.... which also makes me suspicious...
Thanks
|
|
|
|
|
|
Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
|
|
Probably a fee on the machine?
|
|
|
|
|
|
Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
|
| NickyJ wrote: |
Last year (well April) I got cash from a cash point at Munich airport and immediately paid enough money back to credit card to get cash for holiday. All successfully and no interest / charges on credit card.
Hubby recently went to Holland and attempted the same and we got charged 96p
Have I missed a change in T&C? Or did he do something wrong on getting cash out? I am surprised it doesn't tell me the exchange rate used.... which also makes me suspicious...
Thanks |
My best guess is that the payment was made while the cash withdrawal was still ‘pending’, so the funds were used to clear a different part of your balance.
Last edited by Well, the person's real but it's just a made up name, see? on Tue 7-11-23 15:39; edited 1 time in total
|
|
|
|
|
|
You need to Login to know who's really who.
You need to Login to know who's really who.
|
| Quote: |
Although we won’t charge you, some ATM providers may charge a fee for cash withdrawals.
|
|
|
|
|
|
|
Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
|
|
If it's a Halifax Clarity card, they changed the T&C's in the last few months and whilst they still don't charge for cash withdrawals they do charge interest from the day you take it out until the balance is cleared. Caught me out too and I poured through the fine print until I saw it.
|
|
|
|
|
|
You'll need to Register first of course.
You'll need to Register first of course.
|
| dunc999 wrote: |
| If it's a Halifax Clarity card, they changed the T&C's in the last few months and whilst they still don't charge for cash withdrawals they do charge interest from the day you take it out until the balance is cleared. Caught me out too and I poured through the fine print until I saw it. |
I just discovered this too! (I usually load my FairFX card with the appropriate currency and use that to get cash.)
|
|
|
|
|
|
|
|
On a related note, I use a HSBC Global Money account, which allows you to pay in Euros and withdraw cash (you have to be wary of certain ATMs charging though)
I had a HSBC account already so was easy to open. I think there's probably easier options out there if you're not an account holder already.
|
|
|
|
|
|
|
|
| dunc999 wrote: |
| If it's a Halifax Clarity card, they changed the T&C's in the last few months and whilst they still don't charge for cash withdrawals they do charge interest from the day you take it out until the balance is cleared. Caught me out too and I poured through the fine print until I saw it. |
I made a payment to card same day, the same as I did in april.
Should that still have incurred a charge? I am suspicious it may have been hubby not selecting the right currency on machine..... so it was taken in pounds not Euro and hence causes the charge. If it wasn't that, something has changed since April or something different about the machine.
|
|
|
|
|
|
You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
|
|
Aah not sure, I've never done that, I always take it our and then pay it with the balance when due, which is when I noticed the charge. In theory if you clear it the same day you would think there would be no interest to charge?
|
|
|
|
|
|
|
|
|
not sure on clarity... but for some any payment goes against all outstanding purchases and either pays off those made first or those with the highest interest, so could be that if there was other spend on there although you transferred enough to cover the cash, the other spend got paid off leaving the cash outstanding and due interest?
|
|
|
|
|
|
snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
|
|
It worked last time BUT that thing about other transactions is a reasonable theory.... although sure I read it was supposed to go against highest charge and we have direct debit set to always pay in full. This time the cash wasn't taken out on arrival so other foreign currency transactions had already been put on the card
|
|
|
|
|
|
And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
|
| dunc999 wrote: |
| If it's a Halifax Clarity card, they changed the T&C's in the last few months and whilst they still don't charge for cash withdrawals they do charge interest from the day you take it out until the balance is cleared. |
I'm pretty sure they have always charged interest on cash withdrawal from the day of drawing, at least in the 8 years I've had one
On the subject of priority of payments, it's on the statement
Purchases and withdrawals seem to have the same interest rate, so the last paragraph seems to apply.
|
|
|
|
|
|
|
|
| Tubaski wrote: |
| dunc999 wrote: |
| If it's a Halifax Clarity card, they changed the T&C's in the last few months and whilst they still don't charge for cash withdrawals they do charge interest from the day you take it out until the balance is cleared. |
I'm pretty sure they have always charged interest on cash withdrawal from the day of drawing, at least in the 8 years I've had one
On the subject of priority of payments, it's on the statement
Purchases and withdrawals seem to have the same interest rate, so the last paragraph seems to apply. |
That's how I remember it, and as I posted above, the charge may be from the ATM provider not Halifax.
|
|
|
|
|
|
You know it makes sense.
|
The charge is definitely interest. Appreciate it is small charge (in this case) but it was also a smaller cash withdrawal than we have done before and purely would like to understand
|
|
|
|
|
|
Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
|
I have just checked my statement from april and that didn't list it as a "cash transaction" and it DID give and exchange rate. So my hope is that hubby selected wrong option and the mchine did the conversion and it charged the account in £ NOT Euro.
Hoping this is what happened as this was the best way for gettig Euros out (I could go back to using Revolut but limited to 200 Euros which is fine normally except last time we need to pay a 200euro cash deposit to Accomodation)
|
|
|
|
|
|
Poster: A snowHead
|
|
I’ve now opened a Chase account for getting euros out, as an alternative to the Halifax clarity card. Fee free on debit card purchases and cash withdrawals and I think they still offer cashback on purchases. It’s the best banking app I’ve had by some way, and they answer the phone if you call them!
|
|
|
|
|
|
Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
|
| dunc999 wrote: |
| If it's a Halifax Clarity card, they changed the T&C's in the last few months and whilst they still don't charge for cash withdrawals they do charge interest from the day you take it out until the balance is cleared. Caught me out too and I poured through the fine print until I saw it. |
That's not a change. It's been like that as long as I've had the card (over 10 years I think).
|
|
|
|
|
|
Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
|
| NickyJ wrote: |
| I made a payment to card same day, the same as I did in april. |
If you made the payment to the card the same day as your husband lifted money you may have been too quick. My understanding is that if your payment lands in the account before the cash withdrawal transaction clears, your payment will be used to pay off transactions already on the card. You need to wait until the cash withdrawal transaction shows as a cleared transaction before making the payment. I use the app to keep an eye on this and time the payment as soon as I can (or when I remember) once the cash withdrawal appears on the account.
|
|
|
|
|
|
You need to Login to know who's really who.
You need to Login to know who's really who.
|
|
@sugarmoma666, I have always thought that a cash payment was applied against either earlier transactions first, or against non-cash transactions first. But it's a long time since I last read their Ts & Cs. If I'm using it efficiently I charge it up rather than using it like a credit card.
|
|
|
|
|
|
Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
|
The Clarity isnt the best travel card since 2017 imo although others seem to disagree
At one time it was exceptional as it even paid a fiver if you spent £300 a month ,it depended but some had only 9-11% interest rates too .
Not that you ever paid much interest I paid around a £1.50 over 2 to 3 months overseas in total mainly because clearing the cash withdrawals over the weekend seemed to take a day or two .
I used it from 2010 to 2017 nothing beat it but thats not the case today .
You need to know about order of payments ,preloading and lots of other things where the generic TC,s can just be for any halifax credit card
The barclaycard travelcard is better or starling or chase debit card options...... today the clarity isnt no 1.
|
|
|
|
|
|
You'll need to Register first of course.
You'll need to Register first of course.
|
|
@NickyJ, I use the clarity card in mainland Europe and not had any issues, I just pay it off as soon as I get home based on the app balance and never had to pay any interest. Max time away is 2 weeks, and in fairness only normally a week, on 2 week trips i'll do a transfer after end week one whilst away.
|
|
|
|
|
|
|
|
|
If you are making cash withdrawals on the clarity without a purchase balance you cant stop the cash withdrawal interest clock ticking ...not anymore.
|
|
|
|
|
|
|
|
Halifax have charged interest from day 1 since at least 2018 on cash withdrawals in UK and Europe.
From Halifax T's and C's on a Sept 2018 credit card bill.
| wrote: |
Interest-free period
Maximum 56 days for purchases if you pay the full balance shown on your previous and current statementon time.
No interest-free period on balance transfers and money transfers (if available)and cash transactions. |
As with all these things personal choice is the all important thing, going to the hassle of setting up new bank accounts just so I can withdraw 200-300 euros a year is just not worth it.
|
|
|
|
|
|
You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
|
|
Are we talking 96 pence or 96 pound here? Because if it's 96 pence....
|
|
|
|
|
|
|
|
| Legend. wrote: |
| Are we talking 96 pence or 96 pound here? Because if it's 96 pence.... |
96p is notbing in nothing in scheme of things but this was for 70 euro and not expected. I want to understand why before using this method again. I was going to use it in December but concerned now (will probably just Revolut in December now)
|
|
|
|
|
|
snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
|
|
Last month I withdrew the local equivalent of £250 on a Sunday, which I couldn’t pay off until it had cleared two days later. I was charged 15p interest for the privilege. No, it’s not the very best card if you want to withdraw a lot of cash, but it’s up there for card purchases. & like @Timc, I can’t be bothered to get another card solely for the purpose of saving a few pence in interest on the increasingly rare occasions on which I need cash.
|
|
|
|
|
|
And love to help out and answer questions and of course, read each other's snow reports.
And love to help out and answer questions and of course, read each other's snow reports.
|
|
So just to be clear this is only for cash withdrawals, that incur immediate interest? All other purchases, meals/ drinks etc still get 56 days I think? Presumably once the cash withdrawl hits the app if paid off by bank transfer whilst away no interest?
|
|
|
|
|
|
|
|
| Markymark29 wrote: |
| So just to be clear this is only for cash withdrawals, that incur immediate interest? All other purchases, meals/ drinks etc still get 56 days I think? Presumably once the cash withdrawl hits the app if paid off by bank transfer whilst away no interest? |
At Halifax the following credit card transactions are classed as cash transactions:
Using your available credit to obtain cash (e.g. at an ATM or at an over-the-counter service).
Gambling transactions, using your card to make transactions at casinos, betting outlets and bookmakers, and buying online lottery tickets or gaming chips, share trading or spread betting.
Buying foreign currency.
Sending money orders or wire transfers (other than balance transfers or money transfers).
Buying coins, banknotes or digital currency.
Paying government or court fines, enforcement penalties, fees or costs.
Online trading such as share dealing or investments.
Purchasing or topping up electronic money, payment cards, mobile wallets or account dashboard services.
|
|
|
|
|
|
You know it makes sense.
|
@musher, Thanks - seems as though "normal" meals/ drinks etc is not classed as cash withdrawl, happy days - will keep out of the casino, courts and buying shares etc whilst over there 
|
|
|
|
|
|
Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
|
| Markymark29 wrote: |
| Presumably once the cash withdrawl hits the app if paid off by bank transfer whilst away no interest? |
No further interest, certainly, although you might pay a very small amount between the time of the cash advance and the time it clears.
|
|
|
|
|
|
Poster: A snowHead
|
|
It's cash interest.
|
|
|
|
|
|
Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
|
|
|
|
Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?
|
I phoned up Halifax over this, to understand why I was charged interest.
The reason was because a statement had been issued the credit amount was deducted from the issued statement. If one hadn't been - as per when I did this in April, it would have meant not incurring a charge.
So this means if I want to use Halifax to get cash out abroad and have a statement issued, I need to transfer money to clear whole statement AND the cash withdrawal. If one hasn't, then I can just transfer the balance.
Even better the guy said they would cancel the interest charge! Which was lovely of them.
|
|
|
|
|
|
You need to Login to know who's really who.
You need to Login to know who's really who.
|
|
@NickyJ, it surely must beveadier just to transfer the cash to a Chase or similar and withdraw from there? You are effectively using the Halifax card as a debit card anyway
|
|
|
|
|
|
Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
|
| holidayloverxx wrote: |
| @NickyJ, it surely must beveadier just to transfer the cash to a Chase or similar and withdraw from there? You are effectively using the Halifax card as a debit card anyway |
That involves setting up another account / service. I have a Revolut card but that only lets you withdraw 200 euros a month, normally fine but need more in April due to accommodation wanting 200 euro deposit. That method worked fine to extract 400 euro in April. So when hubby was abroad alone he tried to do same and we were unexpectedly charged. Now at least we know why and if need to use again how to ensure we dont get hit by interest charges. I already have cash sitting waiting on my Euro Revolut card. Just sharing for others the rules of the game.
|
|
|
|
|
|
You'll need to Register first of course.
You'll need to Register first of course.
|
@NickyJ, fair enough, I've got loads of accounts ...just opened an HSBC current and Global card to get £205 bribe...only takes a few minutes to apply and I'm not bothered about how many accounts I've got. I just use the main ones. I CBA to have to work out the rules of the game on any specific card. I used Halifax Clarity in Val d'Isere all week last week as a credit card, only used cash for 2 vending machine drinks. I didn't use the Chase card at all. I'll pay off the Halifax in full when the bill comes in.
I get that sometimes you need cash, and I've usually got a couple of hundred
|
|
|
|
|
|
|
|
If you withdraw cash on the Clarity your going to pay interest !
So the options are set up another spending tool/card or pay to spend your own money .
The Clarity card travel game is over it was at one point from 2009 the very best card it even payed the card holder £5 when spending £300.
Now its history which is a PIA ...but thats banks
Note the Chase debit card has a low level credit check and pays 1% .
Metro debit card was a option in europe probably still is .
Barclaycard travel credit card is all good and one of the best cards to have .
Last edited by Then you can post your own questions or snow reports... on Wed 13-12-23 12:01; edited 1 time in total
|
|
|
|
|
|
|
|
|
@Tirol 164, no you CAN use it for cash abroad without paying interest if you pay the money back onto card the same day as long as you don't has an issued statement. If you have an issued statement then you need oay enough money onto card to clear statement AND cover the cash.
|
|
|
|
|
|
You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.
|
| NickyJ wrote: |
I phoned up Halifax over this, to understand why I was charged interest.
The reason was because a statement had been issued the credit amount was deducted from the issued statement. If one hadn't been - as per when I did this in April, it would have meant not incurring a charge.
So this means if I want to use Halifax to get cash out abroad and have a statement issued, I need to transfer money to clear whole statement AND the cash withdrawal. If one hasn't, then I can just transfer the balance.
Even better the guy said they would cancel the interest charge! Which was lovely of them. |
That's standard - if you have an outstanding 'debt' on the account any payment will be used to reduce the oldest debt first, so if your paymnet isn't enough to clear both the existing and new cash withdrawal debts there will be an outstanding debt on the account that will get charged interest.
| holidayloverxx wrote: |
| @NickyJ, it surely must beveadier just to transfer the cash to a Chase or similar and withdraw from there? You are effectively using the Halifax card as a debit card anyway |
Or you could just use your Clarity card in exactly the same way, without the hassle of opening another account. Nothing to stop you transferring 'too much' money to a Clarity account so you end up with a positive balance...
|
|
|
|
|
|
|
|
|
Except you cannot stop the halifax clarity card cash advance interest clock ticking if you pull cash out of a machine on the card since 2018.
Last edited by Ski the Net with snowHeads  on Wed 13-12-23 15:40; edited 1 time in total
|
|
|
|
|
|
|
|
FAQ
