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How fab to check out the web cams - one night I just feasted on the moonlit sea over Kalamar Bay where we have our villa, and just dreamt of being there.  Kalkan is therapy for the soul!
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Nationwide ATM withdrawals in Kalkan - one further point PDF Print E-mail
Monday, 16 August 2010
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Nationwide
Kalkan Turkish Local News has sought clarification on one aspect of the new Nationwide debit card charges, for overseas ATM withdrawals "in currencies other than sterling".

As far as we know, ATMs in Kalkan will dispense Turkish Lira, Euros and US Dollars, but not Sterling.  However, theoretically ATMs could be configured to pay out Sterling.

So if you were to come across such an ATM in Turkey, would taking your cash in Sterling, then exchanging it locally for Turkish Lira, be a loophole to get round paying the new fees?


The simple answer is no.  If you want a slightly fuller explanation, read on.

Firstly, any ATM withdrawal in Turkey, with a Nationwide debit card, will attract their £1 flat fee, irrespective of the currency.

But what about the 2% commission fee?  This is what Nationwide told KTLN:

"We apply the commission fee based upon the foreign currency, so if you make use of a dynamic currency conversion at the ATM, the transaction will come through as Sterling and we will not load it with commission. However, please be aware, that you will be accepting exchange rate offered by the ATM which may be more than our 2%."

What does this mean?  The 2% fee from Nationwide relates to the currency conversion they have to process.  If you withdraw Sterling, they don't have to do this conversion, so they won't charge the 2% fee.  However, you do leave yourself open to local bank charges, and importantly the exchange rate applied by the local bank.

You would need to check with the Turkish bank as to whether they make a charge.  If they don't, it could be that they still make money on the transaction, by perhaps loading the exchange rate in their favour. 

It is impossible to know at the time you make the transaction, how the exchange rate would compare to Nationwide.  However, historically, Nationwide has been known to use very reasonable rates, from a customer's perspective.

One final point worth making is that if you are using your Nationwide credit card for purchases in Turkey, this is still totaly free - no fees are charged by Nationwide.

To read the original KTLN local news article on the introduction of these new Nationwide charges from 1st November 2010, click here.

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Last Updated on Tuesday, 17 August 2010