Nationwide Exchange Rate & Fee Calculator
Calculate the total cost of your foreign transactions and fees.
Transaction Breakdown
Understanding Nationwide Foreign Exchange Rates
When using your Nationwide Building Society card abroad, the cost of your transaction depends on two main factors: the Visa or Mastercard exchange rate and the Nationwide foreign usage fee.
1. The Exchange Rate
Nationwide doesn't set its own exchange rates for card payments. Instead, they use the rates provided by Visa or Mastercard (depending on which logo is on your card). These rates are usually very close to the "interbank" or "mid-market" rate you see on Google.
2. The Foreign Transaction Fee
Most standard Nationwide debit cards carry a 2.99% transaction fee. This is added to the converted GBP amount. For example, if you spend €100 and the exchange rate makes that £85, Nationwide will add a fee of 2.99% onto that £85.
3. Exceptions and Specialist Accounts
Nationwide offers some products designed for travelers:
- Member Credit Card: Usually offers 0% commission on purchases made abroad.
- FlexPlus Current Account: Offers fee-free cash withdrawals worldwide, though the 2.99% fee may still apply to certain transaction types or older account versions.
- FlexDirect / FlexAccount: Typically subject to the standard 2.99% fee for foreign usage.
Example Calculation
If you spend $200 USD in the United States and the exchange rate is 1.25:
- Base Cost: $200 / 1.25 = £160.00
- Nationwide Fee (2.99%): £160 * 0.0299 = £4.78
- Total Deducted from Bank: £164.78
Always choose to pay in the local currency (e.g., Euros in Spain, Dollars in USA) rather than GBP at the card machine to avoid "Dynamic Currency Conversion," which often uses much worse exchange rates than Nationwide.