rabrol

OK, a different question on credit cards.

I hold a UK Nationwide Visa card - great for spending the little money I have left in the UK as there is no commission and the exchange rates are actually good!

Is there a similar no commission card over here in Canada? I have several cards, but all charge commission abroad as far as I'm aware.

Also, does anyone offer Visa debit cards over here? Not seen one from a Canadian financial establishment!

Rob

Surrey Expat

Debit cards are separate from Visa, they are part of Interac in Canada.

Re FX exchange, credit cards charge a 2-2½% premium on the purchase price, based on their institutions currency rate. The best rate we get when traveling is with Amex, the rate we get with them is often the same as the banks cash rate, even with their premium.

iaink

In the absence of a true debit card, isnt any credit card you pay off the full balance at the end of the month effectively a debit card anyway

Elaine B.

Isn't there a thing called a VISA Cheque Card or is that only available in the US?

rabrol

Well that is what we do. Everything goes on the Airmiles card then we clear the full balance at the end of every month. We get a few free nights in hotels every year And, since the balance sits in a 3.85% interest savings account for the majority of the month, we earn about $15 interest each month in addition to the airmiles. Better than using the Interac card I say

But I did like having a debit card that I can use to order over the phone with when I lived in Britain, or I could use it in other European countries for purchases. Can't do that with Interac, although you can withdraw cash from foreign machines.

The reason I'm asking is that my wife is soon to take a trip to the UK. She'll need to spend something when she is there.

iaink

I suppose you could transfer some money to a UK account and use the UK card, or else just use a credit card. The cost of a few withdrawals and the surcharge on charged meals or shopping etc is worth it in my view for the security of not having to carry a lot of cash.

If you can find a good deal let us know, but I think all banks here charge you the 2 or 2.5%...But some have better exchange rates than others ona given day. I think my recent vacation probably cost me less than $20 in additional costs... a couple of cash advance fees and the markup on stuff bought with the cards. It was a drop in the bucket, and I get 1% of most of that on redeaming the PC grocery points, so Im not losing sleep over it.

Surrey Expat

That is in the US.

Surrey Expat

The Plus system works in the UK, check the back of your card.