Using UK debit card in Australia
#1
Just Joined
Thread Starter
Joined: Aug 2017
Posts: 2
Using UK debit card in Australia
Hi All
I live in Australia but still have a UK bank account with Nationwide. Probably a simple question/answer but I can't get my head round it. If I purchase something in Australia in Dollars, for example $1000 using my UK debit card, which way does the exchange rate go. Does it go in my favour i.e. the UK debit card turning the dollars into pounds, or does it go the other way turning UK pounds into dollars which isn't so favourable. I know there would be an international transaction fee, but wasn't sure which way the exchange rate would go.
Thanks for any advice offered.
I live in Australia but still have a UK bank account with Nationwide. Probably a simple question/answer but I can't get my head round it. If I purchase something in Australia in Dollars, for example $1000 using my UK debit card, which way does the exchange rate go. Does it go in my favour i.e. the UK debit card turning the dollars into pounds, or does it go the other way turning UK pounds into dollars which isn't so favourable. I know there would be an international transaction fee, but wasn't sure which way the exchange rate would go.
Thanks for any advice offered.
#2
Re: Using UK debit card in Australia
Hi All
I live in Australia but still have a UK bank account with Nationwide. Probably a simple question/answer but I can't get my head round it. If I purchase something in Australia in Dollars, for example $1000 using my UK debit card, which way does the exchange rate go. Does it go in my favour i.e. the UK debit card turning the dollars into pounds, or does it go the other way turning UK pounds into dollars which isn't so favourable. I know there would be an international transaction fee, but wasn't sure which way the exchange rate would go.
Thanks for any advice offered.
I live in Australia but still have a UK bank account with Nationwide. Probably a simple question/answer but I can't get my head round it. If I purchase something in Australia in Dollars, for example $1000 using my UK debit card, which way does the exchange rate go. Does it go in my favour i.e. the UK debit card turning the dollars into pounds, or does it go the other way turning UK pounds into dollars which isn't so favourable. I know there would be an international transaction fee, but wasn't sure which way the exchange rate would go.
Thanks for any advice offered.
If you click on
How do I find out what the Visa Exchange rate is for my transaction
and calculate an AUD$1,000 purchase, you'll get the following result. (I've used a 2% currency conversion fee as I think that's the standard for Nationwide)
Results
Currencies fluctuate every day. The rate shown applies to transactions processed by Visa Europe on 05 August 2017 with a currency conversion fee of 2.00%
1,000.00 Australian Dollar = 621.28 Pound Sterling
* * * * *
1 Australian Dollar = 0.6212789400 Pound Sterling
- Or -
1 Pound Sterling = 1.6095829677 Australian Dollar
#3
Lost in BE Cyberspace
Joined: Nov 2012
Location: bute
Posts: 9,740
Re: Using UK debit card in Australia
Princess,
Let me ask you this
Who do you think will gain ? You or the bank ?
Let me ask you this
Who do you think will gain ? You or the bank ?
#4
Just Joined
Thread Starter
Joined: Aug 2017
Posts: 2
Re: Using UK debit card in Australia
Thanks very much for your help. I did have a look on the NBS website but missed that bit. Thanks again
#6
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Joined: Jun 2012
Location: NSW, Australia
Posts: 450
Re: Using UK debit card in Australia
Maybe consider transferring money, then spending it in $ using an Aus card? I use transferwise.com - MUCH better rates that the banks. Pretty rapid too. Did a small transfer last week and had the money in my Aus account within about 6-7 hours.