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Most cards also charge a cash withdrawal fee too.
Caxton FX has no cash withdrawal fee on its Global card, but charges $3 on its dollar card and €2 on the euro card.
The Nationwide Classic card, for example, has a cash withdrawal fee of 1.5% (a minimum of £1.50), which is at the lower end of the scale, and no foreign currency loading fee.
For example, Lloyds and TSB customers pay a 2.99 per cent loading fee, a 2 per cent cash withdrawal fee and a £1 purchase fee, while Santander debit cardholders pay 2.75 per cent, 1.5 per cent (at least £1.99) and £1.25 respectively.
Many BRAC staffs felt the same way about the charge and assumed that clients may not want to pay the fee to withdraw cash money and therefore they might not benefit from this new system, and they recommended that the office should not charge clients the cash withdrawal fee.
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Most credit and debit cards have a foreign conversion fee of around 2.99% when they are used for purchases, as well as minimum cash withdrawal fees of between £2.50 and £3.
I also recommend taking a card without any foreign transaction or cash withdrawal fees, like Capital One.
However, prepaid cards often have higher fees, including monthly maintenance fees, ATM cash withdrawal and balance inquiry charges, and fees for obtaining paper statements.
If you withdraw cash you'll pay an additional withdrawal fee of around 2 per cent, usually with a minimum charge of about £1.50 to £2.
Even if you exclude the ATM fees charged by your bank and the ATM itself, you're still paying about 3-53-5% fees on every cash withdrawal.
Most credit cards charge a fee for each overseas cash withdrawal.
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