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Which bank account is best for round the world travel?

Travel Forums Round the World Travel Which bank account is best for round the world travel?

1. Posted by Kaz P (Budding Member 83 posts) 4y

Hi Guys,

Do you have any suggestions for the cheapest account for with drawing money around the world from ATM s.

I had read that Nationwide was best, but now they are also charging for withdrawals.

Any up to date ideas would be great thank you

Kaz

2. Posted by Taylor84 (Budding Member 49 posts) 4y

Hi

Yeah thats right the nationwide have started charging for withdrawals from non EU conutries as far as I remember, so it depends where you are heading.

I have this account for my round the world trip and it appears that even though they are now charging, it works out cheaper than the alternatives.

Hope this is helpful

3. Posted by Gavness (Budding Member 4 posts) 4y

Hi,

I was at the Nationwide this week and they charge 1% to use the card outside of Europe. Its worth opening if your bank charges more.

4. Posted by Matt70_2 (Budding Member 47 posts) 4y

have a look at a Claxton Prepaid Credit Card (Global Traveller). You can use it like a debit card, not tried it yet but plan to get one when i am off away next.

below is a cut and paste form there website of some benefits

No ATM charges when overseas.
No fees, commission, or extra charges on your transactions meaning all costs and charges are included in the exchange rate applied.
Simply load the card using your UK debit card either online, over the phone, or via text.
The balance remains in Sterling at all times. Funds are converted live to the appropriate currency at the point of a sale, including ATM's, giving you the flexibility to use it globally.
It's a MasterCard® meaning it can be used anywhere you see the MasterCard® acceptance mark, whether in a store, online or at an ATM.
The exchange rate applied is fixed at 2.5% from the prevailing interbank rate.
Chip and PIN Secure

Hope it is as good as it appears

5. Posted by MlleKosuch (Budding Member 6 posts) 4y

It depends extremely on which kind of trip you are planning exactly (a lot of big cities or not at all), but maybe you could look out for a bank that has branches all over the world (like HSBC or citibank for example). Or choose a bank that has agreements with a lot of other banks from different countries (like the Global ATM Alliance (be aware: the informations on wikipedia about the participating banks are not correct)). But this only makes sense if you come to bigger cities from time to time.

6. Posted by s96024 (Full Member 106 posts) 4y

Nationwide have started charging but are still by far the cheapest. They charge the 1% because that is what visa charge everyone to use a card. They don't add any charge themsevles. I would imagine that credit card the difference in the exchange rate and the rate they give you would mean you would be paying more than the 1% nationwide charge.