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Using UK debit card in Australia

Using UK debit card in Australia

Old Aug 5th 2017, 11:45 am
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Default 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.
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Old Aug 5th 2017, 5:04 pm
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Default Re: Using UK debit card in Australia

Originally Posted by Princessmillie
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.
Hi. Nationwide's support page here Using your cards abroad | Nationwide

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
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Old Aug 5th 2017, 6:14 pm
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Default Re: Using UK debit card in Australia

Princess,
Let me ask you this

Who do you think will gain ? You or the bank ?
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Old Aug 6th 2017, 8:45 am
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Default 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
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Old Aug 6th 2017, 8:47 am
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Default Re: Using UK debit card in Australia

Originally Posted by Princessmillie
Thanks very much for your help. I did have a look on the NBS website but missed that bit. Thanks again
My pleasure
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Old Aug 10th 2017, 11:38 pm
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Default 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.
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