First Direct drop foreign transaction charges

[GMJ]

I had an email the other day from my bank - First Direct - saying that they were dropping foreign transaction fees on purchases and ATM's.

https://www.moneysavingexpert.com/news/2023/06/first-direct-scraps-fees-overseas-abroad/

I think I'll now stop using my Caxton Card given this, especially as it provides a "near perfect" exchange rate. One less card to carry plus my cash isn't tied up on the Caxton card either.

Might be of interest if you are thinking of switching banks.

 

[trevskoda]

Some banks give you a hand shake of £250 if you swap.

 

[mariesnowgoose]

Yeah, but depending what the rest of their services are like it might not be worth the £250 bribe in the long run.

I detest banks.

 

[st3v3]

I admit to not reading it, but in the past have found it's either:

Good exchange rate and small fee

Or

No fee and poor exchange rate.

Banks don't generally loose out lol

 

[trevskoda]

I dont keep a large sum of money in a bank, just a bit above what pays the standing charges and car/van ins plus heating oil, now i wont go into my matress, but its comphy.

 

[Glandwr]

Got a grudge against First Direct's owner (HSBC) I'm afraid.

 

[GMJ]

I am a bit of a serial changer when it comes to banks and switch our account every couple of years to get a free introductory offer however I may well stick with FD now they have done this especially as they also offer a regular saver account for current account holders with 7% interest too....which is about the best I've seen.

 

[Boris7]

I had an email the other day from my bank - First Direct - saying that they were dropping foreign transaction fees on purchases and ATM's.

https://www.moneysavingexpert.com/news/2023/06/first-direct-scraps-fees-overseas-abroad/

I think I'll now stop using my Caxton Card given this, especially as it provides a "near perfect" exchange rate. One less card to carry plus my cash isn't tied up on the Caxton card either.

Might be of interest if you are thinking of switching banks.

Only dropping charges on Debit cards, credits cards still have charges, also most ATM’s will charge up to 3% so your still paying charges.

I bank with FD but I use a Chase debit card for travel, reason being the card is controlled on an app on my phone, much simpler than the FD app, I can change the card number, pin etc myself also where I have to use the plastic version (fuel normally) it has no numbers etc on it, so it’s much safer. It also means my regular bank account doesn’t get mixed up with work expenditure.

 

[GMJ]

Yes I should have made that clearer in my first post but as I was talking about a bank I thought it was. I don't have the FD CC but use the Clarity card for CC transactions abroad.

 

[Wooie1958]

Yeah, but depending what the rest of their services are like it might not be worth the £250 bribe in the long run.

I detest banks.

Do you need a ladder to get up onto the mattress then

 

[mariesnowgoose]

Do you need a ladder to get up onto the mattress then

I wish!!