Virgin Money Debit Card In Eu

[carosio]

I will be going to Spain shortly (first time abroad) and have been looking at the various ways of obtaining euros (for the best rates, of course).

 

As it happens I have a Virgin Money debit card which is supposed to be 'fee free' but I can't get to the bottom of whether there are charges when using the card for purchases or using an ATM there.

 

So, any advice welcome.

[ECCOnoob]

4 minutes ago, carosio said:

I will be going to Spain shortly (first time abroad) and have been looking at the various ways of obtaining euros (for the best rates, of course).

 

As it happens I have a Virgin Money debit card which is supposed to be 'fee free' but I can't get to the bottom of whether there are charges when using the card for purchases or using an ATM there.

 

So, any advice welcome.

The starting point will obviously be your bank. Most of them have a fee for using debit cards abroad and withdrawing cash from foreign ATMs. That is usually a percentage of the purchase or amount withdrawn however, virgin's website says if you're purchasing cash in euros. It remains free free for their credit card holders which is different to your debit card.

 

Its set out here:

https://uk.virginmoney.com/virgin/service/credit-card/messages/using-your-card-abroad.jsp

 

I find one of the best things to do is get yourself a prepaid currency card from one of the exchange places like the Post Office, travelex or Sainsbury's travel money.  You can load them up with a set amount of foreign currency and then use it just like a regular bank card abroad either by using a ATM or contactless with no fees.  When you come home, any leftover for currency can then be withdrawn from the card back into cash sterling.

[HeHasRisen]

You would be better opening something like a Monzo or a Chase card. You get the bank rate at the time you do a transaction, no fees (except if a foreign cash machine charges but they have no control over it), and Chase's 1% cashback on everything is a lovely offer.

 

https://www.chase.co.uk/gb/en/?utm_source=google&utm_medium=paid_search&utm_campaign=mkt-469_uk_gl_bau_sea_gg_acq_xdv_pr_adp_at1_brand_features&utm_content=brand_chase_cards_exact&utm_term=chase_card&ds_rl=1299624&ds_rl=1299624&gclid=CjwKCAjw9J2iBhBPEiwAErwpebCLskVOuVFJY6WbNbx7EAFqhJKl81nFZvyjKiRqcxpnqAq4OTuYtRoC9oMQAvD_BwE&gclsrc=aw.ds

 

I believe the travel cards mentioned above lock in the currency rate at the time you buy it so you can lose out by doing this. Obviously you can also gain, but that's the risk you take. 

 

Edited April 25, 2023 by HeHasRisen

[Annie Bynnol]

  The Post Office have their own Travel Money Card which is not linked to your bank account so is safer. it is pre-paid, reloadable, you can change currency easily, more than one currency on one card and do transfers and manage it it on line and accepted as a Mastercard. (always pay in the local currency). The exchange rate is today's. 

 

 

[carosio]

3 hours ago, ECCOnoob said:

The starting point will obviously be your bank. Most of them have a fee for using debit cards abroad and withdrawing cash from foreign ATMs. That is usually a percentage of the purchase or amount withdrawn however, virgin's website says if you're purchasing cash in euros. It remains free free for their credit card holders which is different to your debit card.

 

Its set out here:

https://uk.virginmoney.com/virgin/service/credit-card/messages/using-your-card-abroad.jsp

 

I find one of the best things to do is get yourself a prepaid currency card from one of the exchange places like the Post Office, travelex or Sainsbury's travel money.  You can load them up with a set amount of foreign currency and then use it just like a regular bank card abroad either by using a ATM or contactless with no fees.  When you come home, any leftover for currency can then be withdrawn from the card back into cash sterling.

I'll pop in Post Office down Hillsboro to see what they offer, and Virgin as well.

1 hour ago, HeHasRisen said:

You would be better opening something like a Monzo or a Chase card. You get the bank rate at the time you do a transaction, no fees (except if a foreign cash machine charges but they have no control over it), and Chase's 1% cashback on everything is a lovely offer.

 

https://www.chase.co.uk/gb/en/?utm_source=google&utm_medium=paid_search&utm_campaign=mkt-469_uk_gl_bau_sea_gg_acq_xdv_pr_adp_at1_brand_features&utm_content=brand_chase_cards_exact&utm_term=chase_card&ds_rl=1299624&ds_rl=1299624&gclid=CjwKCAjw9J2iBhBPEiwAErwpebCLskVOuVFJY6WbNbx7EAFqhJKl81nFZvyjKiRqcxpnqAq4OTuYtRoC9oMQAvD_BwE&gclsrc=aw.ds

 

I believe the travel cards mentioned above lock in the currency rate at the time you buy it so you can lose out by doing this. Obviously you can also gain, but that's the risk you take. 

 

Had a look and it seems easy enough to set up a current account with Chase, surprisingly few conditions.

[HeHasRisen]

6 minutes ago, carosio said:

I'll pop in Post Office down Hillsboro to see what they offer, and Virgin as well.

Had a look and it seems easy enough to set up a current account with Chase, surprisingly few conditions.

Don't even think they do a credit check as they don't offer overdrafts. 

I have made over £280 in cashback in the 16 months I have had the account. 

[stillf]

I am not sure about ATM's as I haven't used one abroad but I know that there is no transaction fee for using your Virgin debit card in the EU as I have use mine in Spain. I have also used mine in Hungary (which is part of the EU but not in the Euro Currency) and I didn't get any charges there either

[carosio]

3 hours ago, stillf said:

I am not sure about ATM's as I haven't used one abroad but I know that there is no transaction fee for using your Virgin debit card in the EU as I have use mine in Spain. I have also used mine in Hungary (which is part of the EU but not in the Euro Currency) and I didn't get any charges there either

Called in their branch this morning, apparently the cost is just the exchange rate on the day of use.

[Mossway]

If you are drawing money and are offered options in the EU  on a Bank Screen don't use DCC (Dynamic Currency Conversion) - use whatever the other option is. DCC is a rip off ! Google it.

[S35_2o21]

On 25/04/2023 at 16:31, carosio said:

I will be going to Spain shortly (first time abroad) and have been looking at the various ways of obtaining euros (for the best rates, of course).

 

As it happens I have a Virgin Money debit card which is supposed to be 'fee free' but I can't get to the bottom of whether there are charges when using the card for purchases or using an ATM there.

 

So, any advice welcome.

Have you looked at the Money Saving Expert website? There is some good advice on there about the options. If you are wanting to use cash, the exchange rate can between the providers.