Author Topic: HSBC atm (Read 8268 times)

angieebabe · « **Reply #30 on:** May 23, 2012, 21:27:25 PM »

Oh Dear.... it looks like Mrs Nationwide is not happy . Charges ! No Charges ! what does it matter. If it's free let's leave it at that and not rewrite the terms and conditions .

Scunner · « **Reply #31 on:** May 23, 2012, 21:33:42 PM »

Jeez give the guy a break - he has 30 years experience of working with the bank you are all discussing and gave you the benefit of his involvement. I don't see any small mindedness or spouting of rules - I'm sure he couldn't care less if you like or don't like his information - but I guarantee he is right

Jacqui Harvey · « **Reply #32 on:** May 23, 2012, 21:45:20 PM »

I messaged Nationwide head office and got this message back about drawing currency.

Dear Member,
Thank you for your message.
If you withdraw the funds opting for the local currency then you will get the 2% charge and the £1 withdrawal fee, however if you opt for the sterling then you will not get charged but the exchange rate is lower.

Old Daffodil · « **Reply #33 on:** May 23, 2012, 23:23:18 PM »

So if you withdraw sterling from a sterling account there is no exchange rate to work out,100 pounds is 100 pounds.

Scunner · « **Reply #34 on:** May 23, 2012, 23:25:09 PM »

quote:
Originally posted by Daffodil

So if you withdraw sterling from a sterling account there is no exchange rate

No, there is no charge...

davybill · « **Reply #35 on:** May 24, 2012, 06:42:16 AM »

yes but there could be,?

Marggie · « **Reply #36 on:** May 24, 2012, 06:51:49 AM »

quote:
Originally posted by Jacqui Harvey

I messaged Nationwide head office and got this message back about drawing currency.

Dear Member,
Thank you for your message.
If you withdraw the funds opting for the local currency then you will get the 2% charge and the £1 withdrawal fee, however if you opt for the sterling then you will not get charged but the exchange rate is lower.

I think what is meant by the exchange rate being lower is that when you take your £100 to an exchange you will receive a lower exchange rate than that being offered for withdrawing lira at the ATM where you would receive the wholesale rate of exchange. However then the withdrawal fee and percentage charge comes into play.

When next in town I will check the rate being offered by the exchanges and make a comparison between that and the wholesale rate taking into account the charges.

KKOB · « **Reply #37 on:** May 24, 2012, 07:20:34 AM »

Old Daffodil · « **Reply #38 on:** May 24, 2012, 07:25:41 AM »

There is no charge and no exchange rate when you are dealing in sterling taken from a sterling account. If you are taking 100 pounds in ten pound notes out of an ATM in Turkey it is the same as taking 100 pound in ten pound notes as in Britain. Then you spend it and that is when the exchange rate comes into action.

charlste · « **Reply #39 on:** May 25, 2012, 14:45:08 PM »

Meanwhile back at my original posting i have had a reply back from escape prepaid travel card.
it seems it was them now that charged the fee not hsbc who they tried to pin the blame on.
They have said that on this occassion they will give me back the charge but not to draw sterling again.
bit of a con really because they guarantee no charge abroad on atm withdrawals.
When you therefore draw lira they exchange it at a lower rate.hence that is how they make their money.

Author Topic: HSBC atm (Read 8268 times)

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