Which commission-free card options are available to UK residents who want to travel abroad?

score:1

Accepted answer

The answer to all your prayers is Revolut:

  • The account is free
  • All card transactions are free, regardless of the currency
  • Unlike almost every other bank in the EU they use the interbank exchange rate for foreign currencies. Other banks usually have an exchange rate that is 2% worse than Revolut's.
  • ATM withdrawals are free up to 200GBP/month, a 2% fee applies after that
  • Their card indeed works with all ATMs that support MasterCard

The only caveat is that you have to sign up for a waiting list, so it may take a few weeks before you actually get the card in your mailbox.

Upvote:4

Money Saving Expert has a good run down of commission-free cards available in the UK.

In particular,

  • Halifax Clarity
  • Barclaycard Platinum travel card (possibly only via a promotion)
  • Aqua Reward
  • Santander Zero

all meet your criteria.

  1. They charge no fee at all for transactions and money withdrawals and use the VI~SA or Mastercard wholesale exchange rate. (They are credit cards, so with the exception of the Barclaycard, they will charge interest from the moment of withdrawal, so it is worth paying them off immediately rather than waiting for the monthly bill. If you do this they are free.)

  2. They support 'all' currencies

  3. They will be accepted widely as they are VISA or Mastercard.

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