Major bank to axe fees for thousands of customers using their debit cards abroad this summer

Scottish Sun

5 days ago

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BANK ON IT Major bank to axe fees for thousands of customers using their debit cards abroad this summer
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A MAJOR bank will axe fees for customers using their debit cards this summer.
Halifax, part of Lloyds Banking Group, said Rewards customers will no longer be charged a fee for using their debit card abroad.
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Halifax said customers will no longer face a charge for using their card abroad
Credit: ALAMY
Rewards customers are currently charged a 2.99% fee for using their debit card abroad.
That means customers are currently charged an extra £2.99 for using their debit card to pay £100 abroad.
However, Halifax said it is waiving the fee for Rewards users come August 1.
It comes as part of a shake up of current account offer, which will also see "Extras" for Rewards current account holders axed.
Currently, Halifax charges a £3 monthly fee to run this bank account and customers are given freebies in return for hitting certain targets.
But the bank has plans to close down this service come September, meaning customers who meet these targets will no longer get a reward.
Instead customers will have fee-free debit card spending abroad and a £100 interest free arranged overdraft to existing and new eligible Reward account customers.
A Halifax spokesperson, previously told The Sun: 'We're updating the features on our Reward account, introducing fee-free debit card spending abroad, with more benefits to come later in the year.'
All Reward customers should be aware of the changes from July, giving everyone at least two months' notice.
If the service no longer feels right for holders, they can close the account and choose to bank elsewhere.
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Halifax is not the only bank which is giving customers a chance to dodge fees for using your card abroad.
Club Lloyd customers no longer have to pay foreign currency or cash withdrawal fees when using their debit cards abroad.
It comes as part of wider changes to the package, with the monthly fee to use the account also increasing from £3 to £5.
Customers could end up paying an extra £24 a year if they do not meet the £2,000 threshold.
This change will also affect customers with Club Lloyds Silver and Club Lloyds Platinum current accounts.
These users are charged the standard Club Lloyds monthly fee, as well as respective account fees of £11.50 per month for Silver and £22.50 per month for Platinum.
USING YOUR DEBIT CARD ABROAD
There are plenty of banks and building societies that do not charge for using your card abroad.
For example, Monzo does not charge its customers foreign transaction fees nor does First Direct.
Cumberland Building Society doesn't charge you for using your Visa debit card abroad, but you do have to tell them your travel dates and destination.
You can do that either through the mobile banking app, by logging onto internet banking, on the phone, or in a branch.
If you have a HSBC Global Money Account, you can spend abroad and withdraw from cash points fee-free.
Global Money accounts are available to any HSBC customers with an active current account and its banking app.