When traveling abroad, many people use their debit cards for convenience. NatWest, a well-known UK bank, allows its customers to use their debit cards internationally. However, using a NatWest debit card outside the UK can come with certain fees and charges. It’s important to understand these costs so you can plan your expenses better and avoid surprises.
Types of NatWest Debit Card Charges Abroad
There are mainly three types of charges you may face when using your NatWest debit card overseas:
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- Non-Sterling Transaction Fee Whenever you use your NatWest debit card to make a purchase in a foreign currency, the bank applies a Non-Sterling Transaction Fee. This fee is typically 2.75% of the total transaction amount. It applies to all purchases, whether you are buying something in a store, paying for a meal at a restaurant, or shopping online from a non-UK retailer.
For example, if you spend £100 on your debit card while in France, a 2.75% fee means you would be charged an additional £2.75 for the transaction.
- Non-Sterling Cash Fee If you use your NatWest debit card to withdraw cash from an ATM abroad, you will also be charged a Non-Sterling Cash Fee. This fee is £1.50 per withdrawal, in addition to the 2.75% Non-Sterling Transaction Fee mentioned above.
For instance, if you withdraw £100 from an ATM in Spain, you will be charged the 2.75% fee (£2.75) and the £1.50 withdrawal fee, resulting in a total charge of £4.25.
- Exchange Rate Charges When you use your debit card abroad, the amount spent in the local currency is converted into pounds (GBP). NatWest uses the Visa exchange rate, which can fluctuate depending on the market. This means the final amount you pay in GBP may be slightly higher or lower, depending on the exchange rate on the day of the transaction.
It’s essential to monitor exchange rates to understand how much you might be spending while abroad.
How to Minimize NatWest Debit Card Charges Abroad
Although it is almost impossible to avoid fees entirely, there are some ways to minimize them:
- Use Your Card for Larger Purchases Since the 2.75% fee applies to all transactions, it may be better to use your card for larger purchases rather than many small ones. This way, you reduce the overall impact of the fees.
- Avoid Frequent ATM Withdrawals As mentioned earlier, each cash withdrawal abroad incurs both a percentage fee and a flat fee. To reduce these costs, limit your ATM withdrawals. Consider withdrawing a larger sum of cash at once to avoid multiple £1.50 withdrawal charges.
- Opt for Local Currency When paying abroad, you might be offered the option to pay in pounds (GBP) or the local currency. Always choose to pay in the local currency. If you choose to pay in pounds, the merchant may apply their own exchange rate, which is usually less favorable than the Visa rate NatWest uses.
- Consider Travel-Friendly Cards If you travel frequently, you might want to explore travel-friendly debit or credit cards with lower foreign transaction fees. Some cards even offer 0% fees for international use, making them ideal for frequent travelers.
Things to Keep in Mind When Using NatWest Debit Card Abroad
Check Your Bank Account Balance Regularly: Keep an eye on your transactions while you’re abroad. It’s easy to lose track of spending, especially when dealing with a foreign currency. Regularly checking your balance can help you avoid overspending.
Inform NatWest About Your Travel Plans: To avoid your card being blocked for suspected fraud, it’s a good idea to notify NatWest of your travel plans. You can do this through their online banking system or mobile app. This will reduce the chances of your card being declined while abroad.
Emergency Assistance: In case your card is lost or stolen while abroad, NatWest provides an emergency number that you can call. They may be able to send you a replacement card or assist with emergency cash.
Alternative Payment Methods: Consider carrying some local currency or a second card (preferably one with lower fees) as a backup. This ensures that you have access to funds if your debit card is not accepted or if it gets lost.
Conclusion: NatWest Debit Card Charges Abroad
Using a NatWest debit card abroad is convenient, but it comes with certain charges. The main fees include the 2.75% Non-Sterling Transaction Fee, the £1.50 Non-Sterling Cash Fee for ATM withdrawals, and potential variations in exchange rates. While these fees cannot be entirely avoided, you can minimize them by following tips like using your card for larger purchases and avoiding frequent ATM withdrawals.
It’s also essential to plan ahead by checking your balance regularly, notifying NatWest of your travel plans, and having alternative payment methods in case of an emergency. Being aware of these charges and planning accordingly can help you manage your money more effectively while traveling abroad.
FAQs: NatWest Debit Card Charges Abroad
Q. What is the Non-Sterling Transaction Fee for NatWest debit cards abroad?
A. The Non-Sterling Transaction Fee is 2.75% of the total transaction amount when you use your NatWest debit card abroad for purchases in a foreign currency.
Q. How much does it cost to withdraw cash from an ATM abroad using a NatWest debit card?
A. You will be charged a £1.50 Non-Sterling Cash Fee, plus the 2.75% Non-Sterling Transaction Fee, for every ATM withdrawal abroad.
Q. Can I avoid NatWest’s foreign transaction fees?
A. You cannot entirely avoid these fees with a NatWest debit card, but you can minimize them by limiting ATM withdrawals and using your card for larger purchases.
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