HSBC ATM charges abroad?

kevh_uk | 12:28 Wed 24th May 2006 | Business & Finance

2 Answers

I've been told that using my cash card abroad may be cheaper than converting pounds to euros and buying travellers cheques...but i've always thought that this incurred a charge. Does anyone knoe if HSBC charge for cash withdrawal from ATM machines in crete?

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dzug

Yes they charge.

However the charge is usually less than the commission (which will be buried in the exchange rate and therefore not visible) that you will pay when buying cash or TCs.

The card uses the interbank exchange rate and levies a separate charge.

Cash/TCs use the tourist exchange rate which is significantly worse than the interbank rate.

STAH

If you have the HSBC Premier account, then the withdrawals are free of charge.

You could convert your account to bank account plus where you get unlimited withdrawals overseas without charge, and a comprehensive travel insurance package for you and your family. There is a charge for this service though - �9.99 for 6 months, �12.99 per month thereafter for a minimum 12 month contract.

You would need to do some math to see if this is in your favour.

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