Spending a few thousand abroad. Best way to pay?

18
Posted 3rd Mar
My bank charge 1.75% for using my debit card abroad. I need to spend about 4k in one lump sum. Can anyone recommend the best possible way without taking out a credit card? Someone mentioned to me revolut.
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Fee free card like monzo ?
Metrobank card if using in eu.
Halifax Clarity Credit card
Sloman03/03/2020 14:38

Halifax Clarity Credit card


I need to spend about 4k or 5k. I normally only get accepted on credit cards with a limit of £1200 odd.
Get a starling account, it's not a credit card. Just use like a normal debit card
Another starling recommendation here
Monzo, is fee free to use. It’s just a debit card..
I've spoken on live chat to starling and they've been very informative. I've since signed up and got everything set up within 20 minutes. New card arrives in 3 days. Super.
Be aware with Monzo and Starling they block you cards without explanation and keep your money.
If you spend this high amount in one shot, that too abroad, it is going to raise all kinds of red flags. I wouldn't use a card at all but explore money transfer options. I wouldn't be surprised if the card is blocked and account frozen until you explain what is going on.
Love__Bargains03/03/2020 19:21

Be aware with Monzo and Starling they block you cards without explanation …Be aware with Monzo and Starling they block you cards without explanation and keep your money.


Of course they do
Daaaavvveee03/03/2020 21:33

Of course they do


Check Trustpilot and it’s been on the the watchdog
bozo00703/03/2020 21:24

If you spend this high amount in one shot, that too abroad, it is going to …If you spend this high amount in one shot, that too abroad, it is going to raise all kinds of red flags. I wouldn't use a card at all but explore money transfer options. I wouldn't be surprised if the card is blocked and account frozen until you explain what is going on.


Money transfer is not going to work as that takes a number of days and I need the transaction to be instant, that also incurs fees. If it doesn't work I can use my regular debit card. I will also notify starling of my intentions so, if they freeze my card and money they'll be held responsible for any losses I incur.
bozo00703/03/2020 21:24

If you spend this high amount in one shot, that too abroad, it is going to …If you spend this high amount in one shot, that too abroad, it is going to raise all kinds of red flags. I wouldn't use a card at all but explore money transfer options. I wouldn't be surprised if the card is blocked and account frozen until you explain what is going on.


Its 4k,but 40,000!
J4GG403/03/2020 23:16

Money transfer is not going to work as that takes a number of days and I …Money transfer is not going to work as that takes a number of days and I need the transaction to be instant, that also incurs fees. If it doesn't work I can use my regular debit card. I will also notify starling of my intentions so, if they freeze my card and money they'll be held responsible for any losses I incur.


Your notification means nothing. It only tells them that the transaction is not fraudulent but the bank can still hold it up for anti money laundering and there is nothing you can do about it unless you satisfy the bank. It does not have a choice as per the law and no compensation is due to you.
I've used Fairfx a few times to transfer money (decent amounts) to a foreign bank account (paying a local travel agent in SE Asia). They've always been spot on and no fees. I guess they make their money via the exchange rate but it's always seemed pretty competitive to me.
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