 Poster: A snowHead
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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As far as I can tell that was the interbank rate.
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It is very close 
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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?
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Anyone who used the Ntwd debit card for "no charge atm cash access" should look at the Halifax clarity credit card now.
You could or would need to pay off the cash advance 12% rate (if accepted at that rate) by internet banking/laptop in resort, therefore only paying say 3 days 12% or pence on your withdrawal but no fee on it.
It is a workable cash option but may be not suitable for some unlessed practised.
The bank gives a £5 on it too over £300 spend each month and a £5 on the current account too if funded with a £1000, so couple of beers if you are internet banking savvy.
It seems nickle and dime but thats how banks partly make 3-10 billion a year on us.
Another point on the Ntwd credit card is if you pay your large hotel bill,check your rate givern on statement vs visa corp site rate on that day of bill, as it can be in banks favor- not yours, which you can contest with Ntwd.They just fund the diff back I found it simple on a large purchase.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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Jivebaby, just got a card, loaded it with £300 worth of Euros. Thanks for for the link and for agreeing to donate some of your commission to sHs.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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Hurtle, Will PM you amount paid/donated when received.
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You'll need to Register first of course.
You'll need to Register first of course.
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In addition to the increased debit card charges, Nationwide are also making some other changes e.g. CHAPS and SWIFT transfers go up from £20 to £25 and it will now take 4 days, rather than 3, for cheques to clear.
IIRC, the justification for the original "1% outside of Europe" debit card charge was that this was what Visa charged them and they were merely passing the cost on, so unless Visa have increased their charges, this is just Nationwide arbitrarily increasing their charges.
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I think it best to stay focussed on what is best for getting Euros out as cash in Europe - keep it simple.
(keep Santander Zero & Halifax clarity credit cards on another thread because that's credit not cash, and let's face it no merchant wants to pay through the nose for cc fees)
Is there now anything better than the Nationwide for £100 cash? How much does the Fairfx work out as?
Big market for this out there, global - to be able to get cash out global at a good rate.
Don't suppose there's anyone out there who knows enough about banking to start a preload cash card similar to the fairfx is there?
I'm a bit suprised the rest of the world doesn't have something to offer.
How much to Australian citizens pay to get cash in France?
How much do the Spanish pay to take Euros out in France?
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The advantage of the prepaid Euro's card with Fairfx seems to be that it's possible to load it up with Euros when the exchange rate is in our favour.
Fairfx also offer a Sterling prepaid card, which I'll be using for Switzerland. It gives the rate on the day, depending on the currency withdrawn. Testing so far has produced a rate very close to Interbank.
Fairfx charges page .... https://www.fairfx.com/cardselection
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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.
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snowbunny, Comments spot on although the CHf/Euro rate is more stable than the GBP cross rates, hence those requiring more contorl/certaintity may perhaps be better of with the Euro card. I've had extensivce discussions with FairFx and they are reluctant at this stage to introduce a Chf card 
As I previously stated: Any SnowHead requiring a new FairFX Card will get it free via this link: http://www.nicetoski.com/index2.html, then click on the FairFX card: I will rebate 50% of any subsequent commission back to SnowHeads. This link also works: http://fairfx.com/laband
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Hi There, Got my Nationwide letter this morning and have been looking around for another option for a card to use in Euroland. I have applied for the Halifax Card as that was the best I could find. Now I read on here about Metro Bank. Has anyone opened an account yet? Thanks
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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Gunner77, Anyone who prepays effectively deposits cash in advance. Many people used banks such as BCCI, Icelandic banks, Northern rock etc: It really is time that the public understand that putting their cash into any bank is a risk- the risk being that the bank doesn't repay.. Ergo it is the responsibility of the depositor to verify that that they understand and are happy to take this risk with any deposit made. I'm making the assumption that anyone sensible enough to be a skier, join snowheads and with sufficient cash to invest is more than able to make this decision.
As an ex-banker, I'm pretty careful where I place my dwindling funds I've looked at the Metrobank website which provides bio's for a bunch of guys I've never heard of, a coin counting service and a top dog card  . There is however no mention of capital, let alone a balance sheet. Based on this and press hearsay I wouldn't trust them to walk my dog even if I had one, let alone deposit my savings with them! Hopefully intelligent people such as Snowheads will avoid them as the last thing you need is to rely upon any regulatory or governmental guarantee to bail you out when you need it most. When things become clearer, they are hopefully well established and have a transparent track record then maybe I'll reconsider.
More to the point I was a Northern Rock shareholder which was very, very bad      as well as a few other banks so even I don't get it right even though I'm pretty careful, so what hope is there for the people who aren't snowHeads? 
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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.
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The Fairfax card is 1.50 euro fee for each cash withdrawal.
I think this is the charge that has to be weighed up against another option like halifax claritycard or the Metrocard for a cash withdrawal.
A skier on a longer trip of a month or two may want the
cheaper option although the fairfax is convenient,you pay for it.
With internet banking and faster payment system ,money transfer is pretty quick between banks as in minutes.
I will get the claritycard and try it,no certainty of 12.9% rate but even if its 21.9% rate,its works out at 6p a day on 121 euros (£100say).
I will just pay onto the card every few days or whenever I can.
For puchases the nationwide creditcard is my choice.
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Tirol 164, I have the Nationwide Credit Card for foreign purchases. In the last 12 months I have experienced a marked increase in it's unreliability, specifically that the Nationwide are blocking foreign (Mainland Europe) purchases. Some of the rationale put to me when I've phoned them to "unlock" the card each time, makes me think that the staff in their security department need to travel themselves. For example:
They blocked a purchase of mine for a Hotel in Zermatt through the Zermatt Tourist Office. Their stated reason: Because a (dot ch) address means it's a Chinese website.
Apparently if I pay the markup by using a 3rd party Hotel broker with a .co.uk address, Nationwide would be satisfied and allow the purchase, but because I prefer the certainty of using the official Tourist Office it's way too dodgy a transaction to be allowed.
It's equally funny and scary IMV. It looks as though they are trying to restrict my usage to uk only, it's not my only example.
I now have another card as a back up
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You know it makes sense.
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Snowbunny,
That sounds like they don,t want your business (being differcult) which is what they are doing with the nationwide accounts and debitcard cull.
Getting rid of people who only use them for holidays and the exchange rate, like myself .
I don,t use my nationwide credit card in the uk, so may be in for the same type of treatment as yourself, although last april was fine.
Have you been using it for overseas travel only? or uk spend as well? Perhaps customers are being flagged up on spending habits.
Having a back up is always a must and some cash too,so I may look at metro, as a new branch opens in earls crt soon.
I also had used the Citybank euro account debit card but think they have added a loading and or charge on that as well now.
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Tirol 164, snowbunny, The dynamics for ski vacationers v owners changes the value proposition:
For anyone that is fortunate enough to own property I'd suggest banking locally on a domestic basis, with minimum service requirements: Banks treat and nearly always charge non-resident customer acccounts at premium rates: All bank now levy a minimun 0.50% cross border charge for card transactions: They must standardise charges for all of their own clients but banks may charge differently and therefore some may charge more than others.
Postfinance in CH/Switzerland is great for Swiss use and I use them for most local expenses. In France I use Banque Populaire who provide full and free banking services with just a 45€ charge for the MasterCard. I do not pay cash withdrawal charges in either country or for general use. For everything else I use FairFX. For funding I generally use FairFX or HiFx to avoid retail Fx rates and transaction charges. Global banking regulatory objectives are to track money laundering, (to prevent crime/terrorsim) including SEPA implementation to standardise charges accross the EU for cross border transactions. There will be no free lunch and it really takes some organising but I've no intention of paying bankers salaries or charges for the rest of my life - I'd rather spend it on skiing
The reality is that owner costs are normally predictable and can be reduced for exaple with a (cheaper) season pass which puts me ahead after just 12/16 days when skiing in the GM or Chamonix, whereas most vacation skiers purchase passes for each trip, pay transfer costs and now extra to fly skis etc: these are all "retail" expenses and thus normally much higher.
All banks by law must perform KYC (Know your customer) processes before opening accounts to verify identity and to authenticate details etc. Customers should peform the same process with their banks which is why I wouldn't touch Metrobank with your bargepole let alone mine- Unless people engage with this process the public will continue to deposit money with banks who really shouldn't be running a tuck shop and this blind-fath funding will simply ensure we endure further banking "crises" in the future.
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Poster: A snowHead
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Having upped their rates for use abroad Nationwide now give me free travel insurance (worth £80 apparently), which is completely useless as it doesn't include ski cover. Thanks for nothing.
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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Bloomberg announced yesterday that the FDIC is currently in the process of closing down around 829 weak banks in the USA - Mames are not being announced as they wish to avoid rapid depletion of deposits or funding withdrawals: This rather proves my point that ignorant or negligent customers place money with people they wouldn't trust to walk their dogs: Does opening an account with Metrobank who provide coin counters and top dog cards but avoid publishing a balance sheet sound like a good idea?
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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?
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Jivebaby: Thanks for the suggestion of local resident options. It's easy to forget that. I don't know what the requirements are from the various banks across Europe but that's what I will do now as soon as I can when I move to Spain.
It can be frustrating to carry so many cards. All I need is one card to withdraw cash across the world and I think what is happening here is a concerted effort to increase the cost of that, to make money more trackable (wouldn't it be philosophically interesting if all accounts were publically viewable?). The problem is worse outside of Europe. It shouldn't be a problem in Europe though - supposed to be one country now, and there should be a way to get cash across all of Europe without charges.
Basically if only the FairFx card was cheaper that would solve it. I've been looking into what it might take to issue something like this as a competitor.
I guess I could just carry massive wads of cash around to save on charges - draw large amounts at a time...
hand carry cash and gold beats all this for value but that tends to make one look like a drug dealer...
Until then I've gone for the Santander Zero for purchases. The Charity is viable for cash though.
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You need to Login to know who's really who.
You need to Login to know who's really who.
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Shame about this.. I have been a Nationwide customer for 15 years and have all my accounts and savings with them.. I stayed with them through the years because they did have free withdrawals abroad.. now I might look eslewhere...
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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| jago25_98 wrote: |
| there should be a way to get cash across all of Europe without charges. |
Why? There are real costs involved, so why should this service be subsidised by loading the price of other services, paid for by other people?
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You'll need to Register first of course.
You'll need to Register first of course.
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laundryman: because, according to the nationwide annual report the vast majority of the money I have given them is not safegarded but invested on the stockmarket making them a tidy profit already.
It's a good point though. I would pay a flat fee for such a service, maybe as much as £50/year a la on the continent, just to be able to relax when withdrawing cash that I'm not making a fee each time and thus tempted to carry round a couple of grand to cut down on fees. A £2 fee when withdrawing £10 for a night out really adds up.
As it happens I looked into what it might take to start my own bank. Or rather, financial insitution. It's actually easier than you might think. The question is, if you're issuing your own cards how much does each cash withdrawal cost the bank? i.e. does the cost come from the bank or from the visa/mastercard network? I'm finding out info but it's slow going.
Personnally I'd prefer to carry gold or cash like they now do in Argentina after thier 2002 banking collapse. But the problem there is not so much the government but more people who assume you're a drug dealer with that. It's the other Chickens in the coup you need to worry about (The White Tiger -Aravind Adiga)
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jago25_98, I'm coming round to the opinion that custody/payments should be separated from savings/loans. I think the most shocking thing about the wider banking collapse that nearly happened is that ordinary commercial payments would have ground to a halt.
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Well got a Metrobank debit mastercard, no £1.25 per withdrawal overseas like fairfx card.
No loading on mastercards rate which is highly competitive with visa,these rates can not be beat at any cambio.
So its same deal as nationwide debit card was but that was visa rates with no loading or interest instead of mastercard.
Its a walk in the park getting it, as customer service is actually, really, part of this outfit, it was quite refreshing over the yelling and caos which is a daily deal in some london banks.
Just got too test it in euros against mastercards daily rate on site, as I have done with nationwide visa card in the past.
Word on it will be about soon enough for those who don,t want to pay for cash access during a trip.
Move whats needed for cash withdrawals in and out as needed with online banking from main bank by bac,s at pres.
Faster payments on the way soon.
You could use other methods as well no doubt like s/o, phone,branch to load account for a trip.
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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.
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Great information, Thank you 
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Sainsburys bank will have a new card coming soon , free family travel insurance??, free international usage,free balance transfers etc etc £5 per month all in fee.
Just putting it out there for others as the market is wide open with Nationwide pulling the debit card.
As with any product you have too check if its suitable for yourself or needs.
I just think, stuff giving the banks anything if possible,it does,nt matter if credit or debit card but you must be practised in its use or the T and C,s and have a back up.
We figured out very roughly a friends skiing credit card costs over 5years it was very spooky in the least,you would,nt believe me if I told you.
I will update the metro debit mastercard for euro spending,its account does accept faster payments in but not out ,just yet, still bac,s system going out so 3 to 5 days at pres.
I don,t plan on having much in it, at one time for my purposes,just keep loading or drip feeding into it during season.
The debit card current account overdraft is 15% so always set up this, just in case of a overspend, if considering it.
All T&C,s are in writting on the desk and you can sit down with a CS to see if its for you if in london.
Transperancy is something banks keep out back so you get in trouble,this was more open in non bird seed writting but some stuff is vague online.Possibly make a call.
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snowHeads are a friendly bunch.
snowHeads are a friendly bunch.
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Some Info for Euro home owners.
Royal bank of scotland,natwest,one of the ulsters not sure, as a couple I think?
These banks are now doing cross boarder euro direct debits since last nov.
Artical 28th august in independant paper.
I am not doing this, so just putting it out for anyone to check out or consider.
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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.
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Any further reports on Metrobank? I'm thinking about opening an account next time I'm down near their Holborn branch. It will be on the same basis as my NW account, ie holiday cash only, £200 or so a month in.
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Colin B, Please read the thread comments on 04/10/2010 http://snowheads.com/ski-forum/viewtopic.php?t=52343&start=840 before committing your money to this institution.
You perhasp should consider the very limited information, lack of accounts and then be absolutley certian that you will get your money back- when you want it (ala Crown currency. The CEO had to sell his last bank due to insider dealings and likewise BCCI offered fantastic deals before they went up in smoke. Depositors are still waiting. Equitable life had a fantastic reputation and ten years later.
Personally I'd advise if you cannot resist, then avoid going to Holborn until these guys publish audited accounts -at least then you will have some information.
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You know it makes sense.
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| Jivebaby wrote: |
Colin B, Please read the thread comments on 04/10/2010 http://snowheads.com/ski-forum/viewtopic.php?t=52343&start=840 before committing your money to this institution.
You perhaps should consider the very limited information, lack of accounts and then deposit if you are absolutley certian that you will get your money back- When you want it (ala Crown currency. The CEO had to sell his last bank due to insider dealings and likewise BCCI offered fantastic deals before they went up in smoke. Depositors are still waiting. Equitable life had a fantastic reputation and ten years later.
Personally I'd advise if you cannot resist, then avoid going to Holborn until these guys publish audited accounts -at least then you will have some information. |
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Otherwise you'll just go on seeing the one name:
Otherwise you'll just go on seeing the one name:
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Poster: A snowHead
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Hi apologies if this has already been said I have only skimmed this thread.
There is another way....
A Santander Zero Current Account offers free ATM withdrawals from anywhere in the world and in the the first year of account opening offers 5% interest on balances up to 2500 and 100 cash back. There are some rules attached regarding how much is paid in each month so might not suit everyone.
That, however, is where the good news ends. Fab offer and deal and worth switching right???
WRONG: Because Santander have never heard of customer service actually using your account in practical way and being able to access and manage your accounts is almost impossible.
Online access and telephone access is incredibly unuser friendly, helping you resolve any problems accessing your account just results in being bounced around call centres from one clueless jobsworth to another. Try to resolve problems face to face in branch and after waiting in line behind all the other suckers who have given up with call centres just results in the counter monkeys calling the same call centres!
On a positive side you are unlikely to ever go overdrawn because actually using this account to pay anyone is almost impossible. If you do complain they give you a credit of 25quid as an apology - as they can't resolve the problem it is a waste of effort as customers leave anyway - they'd be better off spending the money on staff training and actually retaining customers by delivering service.
So on balance my post isn't that useful - a solution for those just wanting to withdraw money for no fee for being overseas but the headache and time spent listening to annoying hold music that will come with it, in my experience just so not worth it! Previously I was with First Direct. Not the most competitive but very efficient service. You gets what you pay for I guess.
So Santander - buyer beware! I was going to switch to Nationwide until they did this. I'm paid in UKL in UK but working for a french company spend a lot of time in France and I find it very fiddly to keep topping cash cards. Anyone know how good the service is on those offering other options, once bitten etc!
cheers
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Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person
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I applied for a Halifax Clarity Card before Christmas. We're using it this week in Serre Chevalier. We have got exchange rates of between 1.19 and 1.20 over the last week.
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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?
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You need to Login to know who's really who.
You need to Login to know who's really who.
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altis, and a lot less hassle than a pre-loaded card. If I overspend it doesn't cause an immediate problem at any rate.
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Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.
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I've opened a Metrobank account and have their debit card, for holiday money only, which I haven't used yet. No fees for overseas withdrawals.
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You'll need to Register first of course.
You'll need to Register first of course.
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Used my Metrobank account for the first time while I was away at half term. Just checked my account online and no fees charged and exchange rates used seem to be the interbank rate on the day.. Had no problem using it all all. Think I'll now close down my Nationwide account and this will replace it as my foreign travel account.
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Colin B, Good to know. Metrobank still only allowing walk in sign ups?
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tiffin, I think that's probably the case, I just called them and there are certain things they can only do in branch. I opened mine when I was down in London before Christmas, it was very quick though..
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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.
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| frogslegs wrote: |
| ...So on balance my post isn't that useful ... cheers |
You said it yourself...
There are horror stories with pretty much every banks/commercial outfits.
Mine was with Barclays, there were useless with me yet I 'm sur they planty of satisfied customers.
I have used the Santander Zero credit card, and more recently the Zero current account, without issues for the last 2 years. I have used solely even though I have the no foreign fees nationwide credit card.
Very happy, so people choose what is best for them. Santander and Nationwide have worked for me..
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Has anyone looked at Santander? I believe that if you put £1000 each month (and pay standing orders, etc) you can get a debit card with no charges for drawing cash overseas.
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FAQ
