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World traveler needs alternative to expensive ATM withdrawal fees.

World traveler needs alternative to expensive ATM withdrawal fees.

Old Mar 12th, 2008, 02:21 PM
  #1  
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World traveler needs alternative to expensive ATM withdrawal fees.

World traveler needs alternative to expensive ATM withdrawal fees.

I have a companion savings account with a Canadian bank but recently I've noticed they've been charging me up to $5 per withdrawal transaction. I think it's too much and I want out.

I am in the UK now with no intention of returning back to Canada to physically seek out, and open a new account with a better bank.

I need to find an alternative here in the UK (that allows Canadian visitors to open an account, make a deposit, and then leave the UK to use their debit card abroad (on the ATM PLUS system), and Webbanking to check balances, and statement, etc..

I'm looking for such a bank to bee fee-free (especially for withdrawals abroad), as well as free of other hidden charges, and taxes as well). Remember, the only reason I need a bank to withdrawal money abroad (that's it). Therefore, I don't want to pay any fees to the bank.

Here is some background information
http://gobudgettravel.com/budget-tra...aveling-abroad

Thanks for any advice.
sandy456 is offline  
Old Mar 12th, 2008, 02:38 PM
  #2  
 
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The key words in your link (for the Nationwide Flex Acct) are "UK Residents". If you are, in fact, resident, and can provide proof of a UK address, you should be able to open a bank account. Nationwide is recognized as having the lowest foreign ATM charges, so would be a good place to start.

Heimdall is offline  
Old Mar 12th, 2008, 03:24 PM
  #3  
 
Join Date: Feb 2008
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I don't know where worldtravellor is from ,, but I have a no fee foriegn withdrawels on my Royal Bank VIP account, and also with my TD account, the trick it to have certain types of bank account( usaully requiring a certain balance, the higher the balance the less likely are any fees attached and more services are included.

Just so you know always read the paper work and brochures given to you when you open an account the bank tellers in BOTH banks were not aware that my foriegn ATM transactions were "no fee" when I tried confirming this when I went in to the bank , both times managers were called over to the wicckets as I wanted to confirmation of the literture( I HAD read they were no fee) .. so don't just trust a teller to know all the types of services available on all the different types of accounts.
bozama is offline  
Old Mar 12th, 2008, 04:59 PM
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the OP is a Canadian who is trying to extend staying in Europe illegally (long threads in the past where he basically ignored all our suggestions/advice)

http://www.fodors.com/forums/threads...2&tid=35090653

sandy456: You cannot open an acct in the UK unless you have a permanent residence/utility bills etc. Now, you can ignore this info too. But reading your later threads, it looks like you may be running low on money -- You probably should go home and start over . . . . .
janisj is online now  
Old Mar 13th, 2008, 01:16 AM
  #5  
 
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Janisj, thanks for that link. I am still laughing after reading it. World traveler indeed!

Sandy456, whether you like the term or not, while in the UK you are classified as a tourist. Without a permanent address you won't be able to open a bank account.

Were you a US passport holder, I could tell you how to get a job and stay here legally as long as you want, but since you are Canadian, I can't.
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Old Mar 13th, 2008, 05:17 AM
  #6  
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I have TD companion savings account, and it's hard for me to have more than a few hundred dollars in the account at any given time, therefore I suffer high withdrawal fees ($5).

Since Uk accounts are out, I need another option.

sandy456 is offline  
Old Mar 13th, 2008, 05:33 AM
  #7  
 
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I pay €5 per foreign withdrawal on one of my accounts, so 5 CDN$ doesn't sound too bad to me.
The only answer is too take out the maximum you are allowed to, so you don't have to do it so often.
hetismij is offline  
Old Mar 13th, 2008, 05:41 AM
  #8  
 
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While I don't encourage "World Traveler" there MUST be a way for a non resident to open a UK based account.

Maybe the rules have changed but when my Grandfather died about 10 years ago we had to close his London based bank account. He was NEVER resident in the UK, but would rent an apartment for a month each fall in London. He wanted a bank account for emergencies etc. It is possible that perhaps his former employer, where he still had a relationship, assisted him, but I just don't know?
CarolA is offline  
Old Mar 13th, 2008, 05:50 AM
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Gee, I wish some of you worked for the TSA...such attention to everyone who is determined to get over....I actually would feel a lot safer for a change.
Dukey is offline  
Old Mar 13th, 2008, 07:20 AM
  #10  
 
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"there MUST be a way for a non resident to open a UK based account. " If you figure it out, please let us know! I have dual UK and US citizenship, but am a US resident, and I haven't figured out how to do it.
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Old Mar 13th, 2008, 07:32 AM
  #11  
ira
 
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Hi S,

>they've been charging me up to $5 per withdrawal transaction.

If you withdraw 250CD each time, your bank transaction fee is only 2%.

If that includes conversion charges from GBP to CD, that's very good.




ira is offline  
Old Mar 13th, 2008, 07:33 AM
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I have UK citizenship only and can't do it, because I live in the Netherlands, so I too am interested in this.
hetismij is offline  
Old Mar 13th, 2008, 07:35 AM
  #13  
 
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For what it is worth:

If you have a Scotiabank account, you don't have to pay fees withdrawing money from a Barclays ATM (or BNP, Deutschebank, Westpac and Bank of America.)
Sarvowinner is offline  
Old Mar 13th, 2008, 10:17 AM
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why can't you open a bank account online? why do you need to physically visit Canada when they must allhave websites?
Belledame is offline  
Old Mar 13th, 2008, 11:34 AM
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Well now I am really curious how my Grandfather did it. I will have to ask my family members. If I get any info I will let folks know. I didn't realize it was difficult to do.
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Old Mar 13th, 2008, 11:44 AM
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CarolA, I think the rules have changed since your grandfather did it. All to to with whitewashing money, and nowadays anti-terrorism rules and identity theft.
hetismij is offline  
Old Mar 13th, 2008, 02:41 PM
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It's highly possible the rules have changed. It's also possible that his employer assisted him.... I may never know.
CarolA is offline  
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