I am going to Australia for 2 months and will have to rely on payments coming into my own bank here in order to live there. Last time I used the Nationwide cards both to get money out of the ATM and to make a credit card payment in a shop, etc. What is the most cost effective way to do that this year in view of Nationwide changing their policy?

Hi

Would appear Nationwide Debit card may still be the best, even though 1% load applies from July. As you may know in Australia you can freely use your debit card to make purchases or withdraw cash at ATM's. If you have ever been through Australia's border, sometimes they can ask you to provide proof that you have access to sufficient funds for your stay. If you have any proof about payments going into the account connected to your debit card, you would be wise to take this with you. They have been known to refuse entry if they do not believe you have funds to be able to live.

In regard to Credit Cards my understanding is that it is best to buy in Aussie dollars. CC companies often give a better exchange rate, so you sometimes you can benefit, even if charges are involved. Only use the CC the 2nd month you are there as obviously if you use during the 1st month you may not be at home to make payment and incur charges. The current exchange rate I believe is about 1.96 dollars to the pound, so OZ is not a cheap as it was. The last time I went there the rate was about 2.3.

Enjoy your time, you lucky git

Huckster

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Hi

My last post was moderated due to link.

Do a google search. One result moneysavingexpert provides info but there are others.

Cheers. One thing you may not be aware of, though, is that Nationwide Flex Account has changed its policy for new customers. You have to agree to paying in your monthly salary/pension in order to open an account. You can still get a normal Current Account but you can't use a debit card tied to that account to pay by card. You can, of course, still go to the ATM for cash. I am okay as I already have a Flex account but my travelling companion has found this new limit.

PAB123

Hi PAB123

Nationwide BS is still the cheapest option due to the exchange rate that VISA provides, you will also be please to know that they have also announced they will no longer be raising their charge from 0.84% to 1%.