The changes to its Gold Current Account in January 2011 have saved Norwich & Peterborough Building Society (N&P) customers thousands of pounds in overseas debit card transaction fees and charges over the last 12 months – and won N&P “Best Debit Card For Use Abroad” in the prestigious Moneynet 2012 Awards – the building society announced today.
Because of fees holiday transactions can prove to be a bit of a bonus day for UK banks building societies. Many high street banks and UK money providers are charging substantial fees for overseas transactions and it has been discovered are hiding details of those fees on their websites and statements – thus not making it clear.
One customer, who used their debit card to withdraw cash while travelling extensively abroad in 2011 saved themselves a whopping £504! If they had been with Barclays, for example, the customer would have paid £504 in fees on their 127 ATM withdrawals, with N&P they paid £NIL!
Debit card usage abroad by N&P current…