This has to be one of the best bank accounts for spending abroad and withdrawing cash. Upto £300 a day or equivalent in foreign currency. Monzo, revolut, trasnferwize will only give you £200 a month then charge fees of upto 3
App-based Starling Bank* has a current account that charges no non-sterling transaction or cash withdrawal fees when you use its debit card worldwide. Unlike other banks, it doesn’t require you to pay in a minimum amount or have direct debits set up.
Starling Bank is a new challenger bank, which opened applications to its current account in May 2017. It’s regulated by the Financial Conduct Authority and has the full £85,000 UK savings safety guarantee. For now it has no overseas fees, though it’s possible this’ll change in future. Initial feedback has been positive – please let us know your experiences with it.
You can download Starling Bank’s app for iOS or Android.
The exchange rate you’ll get is set by Mastercard, which tends to be slightly higher than Visa’s.
You can make up to three cash withdrawals a day, totalling a max £300.
Money in your account will earn 0.5% AER interest on up to £2,000 and 0.25% AER interest up to £85,000.
You can apply for an overdraft if you want one – you won’t automatically be given one.
From MSE but not exclusive