Using an overdraft in Europe

Christopher @ 13-06-2008 20:04

Hello everyone.

I have a Natwest current account and I will almost certainly be entering my overdraft whilst in Europe.

The bank have told me that I will have no problems using it in Europe, but there's still that nagging little worry in the back of my mind that I'll have a problem.

Has anyone here gone into their overdrafts whilst travelling? Anyone had any problems?

Thanks.

SiDUDe @ 13-06-2008 20:40

If you have an agreed overdraft then it shouldnt be a problem - ive never tried however. Just be aware the Natwest Debit Card is RUBBISH for use abroad, min £2 charge on cash withdrawal, £1.25 on top of every transaction, and a loaded exchange rate.

If you can, find ANY other way to take money abroad, as you will just be throwing money at Natwest. If you have time, get a Nationwide debit card, and throw your overdraft in there for the duration of you trip

Source: http://www.moneysavingexpert.com/cards/cheaper-spending-overseas

Christopher @ 13-06-2008 21:29

That was my original plan, but unfortunately I've left it too late and I wouldn't get the card in time as I'm leaving a week on Sunday.

It's a pain in the arse about the charges, but there's really nothing I can do about it now. I can't walk around with cash on me...

At this stage I'd rather have money and pay a little bit for it than no money at all!

SiDUDe @ 14-06-2008 00:27

You could get some travellers cheques, there a bit of a pain, but cheaper than your debit card. And try to get out as much cash as you think is safe at once, and split it up around yourself/group, as you will be charged less

Christopher @ 14-06-2008 15:40

Could someone give me a brief, hands-on, 1st hand description of how travellers checks work please? And what are the pros and cons of taking this route?

I was planning on heading to France with e100, and then making several withdrawals of e100 as and when I need it. I figure I'll be charged like £30 for this overall, which isn't TOO bad I suppose.


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