UK money matters: debit/credit/atm?
 

I've looked throught these boards and figured out that atms are the best way to access cash while in the UK this fall. I have a combo VISA atm/debit card that's Plus/Interlink affiliated from my credit union. I will use this for atms only. I am also planning to take an MBNA issued visa or mastercard. I've read about potential changes with the Bof A situation. Anyone have any information on increases in conversion charges? Trying to decide whether to shop for a new card before the trip.

I wouldn't change anything. You are fine. I haven't kept up on the financial news - but from your post it sounds like BofA is taking over MBNA - right?

I personally don't like BofA - but it does have one major advantage in the UK. BofA is affiliated w/ Barclay's Bank which has a major presence in the UK. You won't pay BofA's hefty atm charges when you use Barclay's machines.

Janis is correct that by using a BofA card for ATM withdrawls you will pay no fees at Barclays, but I don't think that applies to credit cards. As I read this, your bank account is with a credit union, not BofA? Call your credit union and find out how much the fee is for foreign withdrawls. You should also call you credit card company and find out when the changes will be effective once they convert to BofA.

Oh, yes - I may have confused things a bit. The "no fee" advantage only applies to BofA ATM/debit cards.

I still wouldn't change anything unless you are unhappy w/ the current accounts. Unless you are planning on spending 10's of thousands of dollars, the difference will only be a few dollars at most.

I don't understand your MBNA/BofA references, as MBNA generally raised their foreign conversion fees in May to most customers, anyway. There are some MBNA cards that didn't get that incrase (I have one of them, AAA Visa), and I do intend to keep watch in the future as I suspect BofA could change that policy. However, I don't think anyone on here is privy to insider BoA knowledge like that, and if they do change it, they must notify you in writing, and that is usually at least one month before something takes effect.

Before you go, notify your credit card companies. They're putting programs into place that watch what you do with your card, and if it's somewhere you're not usually... they will put a stop on it. I learned the hard way...