Hi,
There seems to be much debate about this and some people are %26#39;up in arms%26#39; because Nationwide are going to charge for using a Nationwide Flexi account ATM card abroad. Why? It%26#39;s only 1%!!!
My bank (Barclays) charges me up to 拢12.23 per withdrawal and I will be opening a Nationwide Flexi account when I go back to the UK in June regardless of if they charge 1% or not.
Which is cheaper (R20,000/- is an example amount but is also the maximum is some ATM machines, and the exchange rate is calculated at R71 - 拢1):-
R20,000/- (拢281) + 1% (拢2.81) = 拢283 or about
OR
R20,000/- (拢281) + 2.75% charge for handling(拢7.73) + an additional 2% transaction charge (min 拢1.50 max 拢4.50) (拢4.50 here) = 拢294.50
It%26#39;s 拢11.50 (R816/-) more expansive to use my card as opposed to getting a Nationwide Flexi account. That%26#39;s enough to buy all the items for 1 Sunday lunch for all our 20 children and %26#39;no%26#39; they don%26#39;t get small portions.....
Please feel free to correct me if the charge is more than 1%
Regards
Paul
Happy Children%26#39;s Home - Helper
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