Uk Bank Charge Increase For Atm Card Use

[CaptainSplod]

Just got an email from Barclays which will no doubt please everybody that has a debit card with them -

The foreign exchange charge on your debit card is about to change

If you use your debit card abroad - either to make a purchase or to withdraw cash in local currency from an ATM or over the counter at a bank - you pay a foreign exchange charge. From 1 October 2010 this charge will increase from 2.75% to 2.99%. You can close your account at any time without charge and there will be no change to any other debit card charges.

No doubt other banks will soon follow suit - if they haven't already done so

Wonder if people are generally using their cards less frequently than before - due to the economical slowdown, fewer holidays abroad, "pitiful" savings interest rates, etc - the banks need to increase their rates to make up for it........

[upena]

Get a Thai bank account with ATM card

[rodentwarrior]

If you are British and live here, and want a cheaper method of using an ATM - get an account with Nationwide, they don't charge for using the ATM outside of the UK (I think they are the only bank that offers this service) and the exchange rate is very close to the interbank rate.

Using a Barclaycard to access cash at an ATM here is ridiculously expensive, and unnecessary. I know, because I also have an account with Barclays.

[CaptainSplod]

Hi Rodentwarrior - and many thanks for your interesting info.

>Your suggestion sounds very good - I've already been spending some time trawling through various offshore banks to see what I can find of alternatives. Plenty of good account services - though some banks tend to charge the earth for the privilege.

I've just visited the NW site but they don't appear to list any monthly/yearly charges for their various accounts, or at least I'm not able (yet) to find them. Maybe you can help me out there - pm me if that's more practical, thanks.

Too, it would be nice to know if their accounts require a minimum account balance (ie GBP1000, 5000) - they don't seem to specify anything for most of their accounts. Mind you, navigating around can be slightly hazardous and frustrting, and<i> most</i> banking websites are an enormous maze of links and popups - sometimes enough to make you go cross-eyed.  <img class="bbc_emoticon" alt="" src="http://static.thaivisa.com/forum/public/style_emoticons/default/laugh.gif">

Cheers<br>

./ Edited to get rid of those naughty <br><br> things...........

Edited July 20, 2010 by CaptainSplod

[steve187]

If you are British and live here, and want a cheaper method of using an ATM - get an account with Nationwide, they don't charge for using the ATM outside of the UK (I think they are the only bank that offers this service) and the exchange rate is very close to the interbank rate.

Using a Barclaycard to access cash at an ATM here is ridiculously expensive, and unnecessary. I know, because I also have an account with Barclays.

I think nationwide may be charging soon,see this thread -

[CharlieH]

If you are British and live here, and want a cheaper method of using an ATM - get an account with Nationwide, they don't charge for using the ATM outside of the UK (I think they are the only bank that offers this service) and the exchange rate is very close to the interbank rate.

Using a Barclaycard to access cash at an ATM here is ridiculously expensive, and unnecessary. I know, because I also have an account with Barclays.

I think nationwide may be charging soon,see this thread - http://www.thaivisa...._1#entry3680456

If you do have to use your UK card then use an AEON machine/bank they dont charge the 150 baht fee the other Thai banks do.

[CaptainSplod]

Steve187 thanks for the link, interesting....

I may be quite wrong but I think the info in the link mostly refers to Brits that still have a UK address.

(Un)Fortunately, I'm not in that category - and I'm really just looking around for a UK based bank (has to be offshore due to the UK laws), where I can make online transfers of funds to my Thai bank.

I don't have other online banking bills to pay, don't have a mortgage - nothing, in fact, which might require anything but a very simple account involving just a few transactions every year.

Among some of the suggestions I've received - and that I'm still considering - Rodentwarrior's info was most excellent.

However, I don't wish to get raped by the extortionate monthly/ yearly charges that some offshore banks expect - for an account where I do most or all of the work myself.

Really, if I could find such an account, then a UK ATM card wouldn't be necessary - at all.

If anyone can suggest or recommend a suitable bank with minimal monthly charges (or - dare I say it - FREE!) - then I'd be most grateful

Cheers

[Tee2008]

Steve187 thanks for the link, interesting....

I may be quite wrong but I think the info in the link mostly refers to Brits that still have a UK address.

(Un)Fortunately, I'm not in that category - and I'm really just looking around for a UK based bank (has to be offshore due to the UK laws), where I can make online transfers of funds to my Thai bank.

I don't have other online banking bills to pay, don't have a mortgage - nothing, in fact, which might require anything but a very simple account involving just a few transactions every year.

Among some of the suggestions I've received - and that I'm still considering - Rodentwarrior's info was most excellent.

However, I don't wish to get raped by the extortionate monthly/ yearly charges that some offshore banks expect - for an account where I do most or all of the work myself.

Really, if I could find such an account, then a UK ATM card wouldn't be necessary - at all.

If anyone can suggest or recommend a suitable bank with minimal monthly charges (or - dare I say it - FREE!) - then I'd be most grateful

Cheers

Most, if not all, banks are going to charge you for making international transfers. Unless, maybe, you can afford to have an account such as HSBC Premier. Your transfers would then be free ( in theory ). I am interested to know what you mean by " has to be offshore due to UK laws ". What laws ?

[CaptainSplod]

Hmmm......

Maybe I didn't make myself clear, Tee2008.

Naturally, I expect to be charged for making international transfers.

Many offshore banks charge a monthly or yearly fee just for the privilege of having an account with them - some account types can be cheap, while other account types can be more expensive.

"If anyone can suggest or recommend a suitable bank with minimal monthly charges (or - dare I say it - FREE!) ......." referred to the above-mentioned monthly/yearly charges, and most certainly NOT to individual transaction charges.

What laws ? - I believe that if you are not a resident of the UK, do not live, work or set foot upon the land of plenty, then you are prohibited from having a UK bank account.

Such were the words bestowed upon me many years ago - whereupon I was directed to the offshore department.

Mind you things may have changed since then.....

Cheers

[hunglikea]

I opened a UK bank account with a British address and changed it to my Thai address the following day 8 years ago.

I also have severed all ties with Blighty but still have the account with my Thai address.

[Soutpeel]

Hmmm......

Maybe I didn't make myself clear, Tee2008.

Naturally, I expect to be charged for making international transfers.

Many offshore banks charge a monthly or yearly fee just for the privilege of having an account with them - some account types can be cheap, while other account types can be more expensive.

"If anyone can suggest or recommend a suitable bank with minimal monthly charges (or - dare I say it - FREE!) ......." referred to the above-mentioned monthly/yearly charges, and most certainly NOT to individual transaction charges.

What laws ? - I believe that if you are not a resident of the UK, do not live, work or set foot upon the land of plenty, then you are prohibited from having a UK bank account.

Such were the words bestowed upon me many years ago - whereupon I was directed to the offshore department.

Mind you things may have changed since then.....

Cheers

If you are prepared to look further a field, have a look at Singapore, eg Citibank international personal banking, will still have to pay the THB 150 to use an ATM in Thailand, but if you put $ 25k with them, no banking fees

[Tee2008]

<BR>Hmmm......<BR><BR>Maybe I didn't make myself clear, Tee2008.<BR><BR>Naturally, I expect to be charged for making international transfers.  <BR><BR>Many  offshore banks charge a monthly or yearly fee just  for the privilege of having an account with them - some account types can be cheap, while other account types can be more expensive.<BR><BR><I>"If anyone can suggest or recommend a suitable bank with minimal monthly  charges (or - dare I say it - FREE!) ......."</I> referred to the above-mentioned monthly/yearly charges, and most certainly NOT to individual transaction charges.<BR><BR>  <I>What laws ?</I>                                                   - I believe that if you are not a resident of the UK, do not live, work or set foot upon the land of plenty, then you are prohibited from having a UK bank account.  <BR>Such were the words bestowed upon me many years ago - whereupon I was directed to the offshore department. <BR><BR>Mind you things may have changed since then.....<BR><BR>Cheers<BR>

<BR><BR>Now I'm even more confused.   You want a UK bank account, but you already appear to have one with Barclays ?    But, you say you can't have a UK bank, even though you are thinking about Nationwide,  as you are non - resident ?<BR><BR>If you have 60,000 GBP you can have an offshore HSBC account, and ALL transactions are free, including NO annual charges and NO international transfer charges.<BR>

[CaptainSplod]

Hunlikea : Absolutely!

My inference was to opening a new account - whereas existing accounts are a different kettle of fish...... Still, I don't doubt that there are people

that have managed to open a UK onshore account without any UK address and without ever having set their toes on UK soil - such is life.

Tee208 : Not so much to be confused about, really. Yes, I do have a Barclays Offshore account - which is UK based.

However, I'm looking around for a different bank, that's all - and it's natural to hear of other member's recommendations or suggestions.

Nationwide ALSO deals with offshore accounts - and they are also UK based. (Thanks for your input, too!)

Cheers