Nationwide Cash Card Users Take Note.

[Mali1964]

UK EXPATS USING THE NATIONWIDE CASH CARD TAKE NOTE IF YOU HAVE NOT YET BEEN MADE AWARE.

My link

NOTE ! anyone using the Nationwide cash card (cirrus card) will find a new card being issued to their registered address from 1st June 2010 to September 2010 now called the cash card plus, the sad news is that the cash card plus cannot be used in ATM's abroad not even Europe,but can now be used to purchase items.

So the only card that was truly free of charges is to be no more.

Note this does not affect the Flexaccount debit card which as charged a competitive 1% fee for some time now.

Most banks in the UK charge at least 2.5% to 5% commission plus the merchant fee ie visa m/c, only Nationwide is 1% all in, Abbey is free with a special account that includes having a mortgage & i think a minimum balance of £1000.

The post office credit card is commission free but the exchange rate is bad to make up for this.

Take note only the Nationwide offer the best rate's but for how much longer who knows as i hear their profits have halved.

Halifax online swift transfer is another good option especially if you transfer at least min £1000 each time,swift fee £9.50 equivalent to 3 x 150bt atm withdrawals with no need to go in branch compared to Nationwide fee of £20 done by post or in branch only.

The charge for say Bangkok bank to convert your Sterling to Thai Baht is 200bt min to 500bt max i think the rate they use is 0.25% max (500bt) so at the moment around £1700 could be sent with only a 200bt fee plus £9.50, on these figures it only saves around 150/250 baht compared to foreign ATM card withdrawals but the more you send in one go the more you start to save, as long as you don't then go using other Thai bank or out of province ATM's you will get your withdrawals free from your Thai bank.

[JAS21]

UK EXPATS USING THE NATIONWIDE CASH CARD TAKE NOTE IF YOU HAVE NOT YET BEEN MADE AWARE.

My link

NOTE ! anyone using the Nationwide cash card (cirrus card) will find a new card being issued to their registered address from 1st June 2010 to September 2010 now called the cash card plus, the sad news is that the cash card plus cannot be used in ATM's abroad not even Europe,but can now be used to purchase items.

So the only card that was truly free of charges is to be no more.

Note this does not affect the Flexaccount debit card which as charged a competitive 1% fee for some time now.

Most banks in the UK charge at least 2.5% to 5% commission plus the merchant fee ie visa m/c, only Nationwide is 1% all in, Abbey is free with a special account that includes having a mortgage & i think a minimum balance of £1000.

The post office credit card is commission free but the exchange rate is bad to make up for this.

Take note only the Nationwide offer the best rate's but for how much longer who knows as i hear their profits have halved.

Halifax online swift transfer is another good option especially if you transfer at least min £1000 each time,swift fee £9.50 equivalent to 3 x 150bt atm withdrawals with no need to go in branch compared to Nationwide fee of £20 done by post or in branch only.

The charge for say Bangkok bank to convert your Sterling to Thai Baht is 200bt min to 500bt max i think the rate they use is 0.25% max (500bt) so at the moment around £1700 could be sent with only a 200bt fee plus £9.50, on these figures it only saves around 150/250 baht compared to foreign ATM card withdrawals but the more you send in one go the more you start to save, as long as you don't then go using other Thai bank or out of province ATM's you will get your withdrawals free from your Thai bank.

I have the Flex card and use Bangkok Bank for receiving GBP. I've checked the 'rates' and I don't think that the ATM rates (you can get these from "Exchange Rates Visa Corporate" are as good as those that BB give...what do you think?

Anyway what you have detailed is very useful..thanks. Wish I could transfer for £9.50..it costs me more than twenty with the Royal Bank of Scotland.

[Mali1964]

UK EXPATS USING THE NATIONWIDE CASH CARD TAKE NOTE IF YOU HAVE NOT YET BEEN MADE AWARE.

My link

NOTE ! anyone using the Nationwide cash card (cirrus card) will find a new card being issued to their registered address from 1st June 2010 to September 2010 now called the cash card plus, the sad news is that the cash card plus cannot be used in ATM's abroad not even Europe,but can now be used to purchase items.

So the only card that was truly free of charges is to be no more.

Note this does not affect the Flexaccount debit card which as charged a competitive 1% fee for some time now.

Most banks in the UK charge at least 2.5% to 5% commission plus the merchant fee ie visa m/c, only Nationwide is 1% all in, Abbey is free with a special account that includes having a mortgage & i think a minimum balance of £1000.

The post office credit card is commission free but the exchange rate is bad to make up for this.

Take note only the Nationwide offer the best rate's but for how much longer who knows as i hear their profits have halved.

Halifax online swift transfer is another good option especially if you transfer at least min £1000 each time,swift fee £9.50 equivalent to 3 x 150bt atm withdrawals with no need to go in branch compared to Nationwide fee of £20 done by post or in branch only.

The charge for say Bangkok bank to convert your Sterling to Thai Baht is 200bt min to 500bt max i think the rate they use is 0.25% max (500bt) so at the moment around £1700 could be sent with only a 200bt fee plus £9.50, on these figures it only saves around 150/250 baht compared to foreign ATM card withdrawals but the more you send in one go the more you start to save, as long as you don't then go using other Thai bank or out of province ATM's you will get your withdrawals free from your Thai bank.

I have the Flex card and use Bangkok Bank for receiving GBP. I've checked the 'rates' and I don't think that the ATM rates (you can get these from "Exchange Rates Visa Corporate" are as good as those that BB give...what do you think?

Anyway what you have detailed is very useful..thanks. Wish I could transfer for £9.50..it costs me more than twenty with the Royal Bank of Scotland.

The rate you get from Thai banks seems as fair as your likely to get & the only one who has your sterling to convert, its pot luck what the rate will be in the 3/5 days it takes for them to receive your swift transfer, if you want more control over that & can play a waiting game then open a foreign deposit acc at Bangkok bank or Kasikorn then pray with little chance that the rate go's back at least into the 50 plus baht region soon then convert.

The visa site is a waste of time.

Try this site to follow the rates you should get rates close to these.My link

Just open a Halifax current account online your wish can come true, the basic acc is all that's needed then you can do online transfers for free from your main acc at RBS to the Halifax acc then transfer from the Halifax acc online to your Thai bank this leaves your main account free to use as you are now direct debits etc.

Note do not use the Halifax ATM card to withdraw from Thai ATM's they charge 2.75% plus £1.50 fee your Flexi will still be best if you need quick cash.

Also the figures above are based on using the Nationwide cash card (free) not the Flexi acc card (1%) for ATM withdrawals so you can add another £17 (800bt) to the costs of using your flexi card to withdraw £1700 from ATM's making total savings of around 1000 bt with a swift transfer.

I'm looking at £2000 min transfers now anything you can send above this you just go on saving money.

[DEREK-C]

I use my Nationwide Flexaccount debit card. I was advised by a contact at the Nationwide that the cheapest way to use my account in Thailand was by cash advance. I go to the Bangkok Bank hand over my card and passport and tell them the amount I want. I have withdrawn amounts from 50-150,000 baht. I do not get any charges from the Bangkok Bank for the transaction. The Nationwide registers the transfer at midnight UK time so it is debited from my account the day following withdrawl. The exchange rate used is as good as any rates for that day. This avoids using my card in an ATM and incurring 150 baht charge and transfer charges if I was sending to a Thai Bank. It's worked well for me for 12 months.

[richard47]

"Just open a Halifax current account online your wish can come true, the basic acc is all that's needed then you can do online transfers for free from your main acc at RBS to the Halifax acc then transfer from the Halifax acc online to your Thai bank this leaves your main account free to use as you are now direct debits etc"

In order to open an account online you will have to send proof of ID and address verification. The latter is a problem if you are not already having all your bank, credit card statements sent to a UK address, they will also check the electoral roll. Why not have a look at Halifax International, Isle of Man. A foreign address is no problem, and their regular saver account pays 4%. SWIFT transfers up to £8000 cost £20, and can be sent online in Sterling.

Food for thought - All the best

[Mali1964]

I use my Nationwide Flexaccount debit card. I was advised by a contact at the Nationwide that the cheapest way to use my account in Thailand was by cash advance. I go to the Bangkok Bank hand over my card and passport and tell them the amount I want. I have withdrawn amounts from 50-150,000 baht. I do not get any charges from the Bangkok Bank for the transaction. The Nationwide registers the transfer at midnight UK time so it is debited from my account the day following withdrawl. The exchange rate used is as good as any rates for that day. This avoids using my card in an ATM and incurring 150 baht charge and transfer charges if I was sending to a Thai Bank. It's worked well for me for 12 months.

Yes this is another good option, do Nationwide still charge the 1% using this method ? as i think visa is not involved in this transaction maybe its free.

[Mali1964]

"Just open a Halifax current account online your wish can come true, the basic acc is all that's needed then you can do online transfers for free from your main acc at RBS to the Halifax acc then transfer from the Halifax acc online to your Thai bank this leaves your main account free to use as you are now direct debits etc"

In order to open an account online you will have to send proof of ID and address verification. The latter is a problem if you are not already having all your bank, credit card statements sent to a UK address, they will also check the electoral roll. Why not have a look at Halifax International, Isle of Man. A foreign address is no problem, and their regular saver account pays 4%. SWIFT transfers up to £8000 cost £20, and can be sent online in Sterling.

Food for thought - All the best

That's a good saver rate i take it that's with instant access? Good option as you say if you have severed all contacts back in the UK.

I,m not on the electoral roll at my registered address had no problems opening an account, yes a copy of your passport is needed this can be posted/ faxed i understand that not all have kept an address back home so this would cause a problem for some.