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The difference between debit and credit cards
The way you use them might be similar, but credit and debit cards have key differences.
About debit cards
Debit cards are linked to bank accounts. When you use them, money is taken from your account.
About credit cards
Credit cards are separate accounts, giving you the flexibility to borrow money and repay it later.
Understanding the costs
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The costs for using a credit or debit card might vary between lenders, but here’s some information you might find useful about Halifax cards:
Transaction type
Debit card costs
Credit card costs
Transaction type
Cash withdrawals at a Halifax ATM.
Debit card costs
Free.
Credit card costs
A cash advance fee might apply.
Transaction type
Cash withdrawals over the counter at a Halifax branch.
Debit card costs
Free.
Credit card costs
This service is no longer available at Halifax branches.
Transaction type
Cash withdrawals at another ATM or branch in the UK.
Debit card costs
Halifax won’t charge you, but the cash machine owner might. Check for charges first.
Credit card costs
In addition to any cash machine charges, a cash advance fee might apply.
Transaction type
Cash withdrawals at an ATM or branch outside the UK.
Debit card costs
In addition to any service provider charges, a foreign currency transaction fee and foreign cash fee or foreign currency cash fee may apply.
Credit card costs
In addition to any service provider charges, a foreign currency transaction and purchase fee might apply.
Transaction type
Sterling card purchases.
Debit card costs
Free.
Credit card costs
Free.
Transaction type
Non-Sterling card purchase.
Debit card costs
A foreign currency transaction fee and foreign currency purchase fee may apply.
Credit card costs
A foreign currency transaction fee might apply.
Transaction type
Buying foreign currency or travellers cheques from Halifax.
Debit card costs
Free.
Credit card costs
A cash advance fee might apply.
Transaction type
Buying foreign currency or travellers cheques from another branch, agent, or bureaux de change.
Debit card costs
Halifax won’t charge, but other providers might. Check for charges before you go ahead.
Credit card costs
In addition to other provider charges, a cash advance and foreign currency transaction fee might apply.
More on credit card cash advances
It’s useful to remember that interest might also apply when you use a credit card, so make sure you understand the costs in advance.
To check the fees and charges which apply to your credit card, refer to the terms and conditions of your account, or your latest statement.
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It depends on your account terms and conditions, but additional charges might apply when using a credit or debit card abroad.
Other things to think about
A summary on credit and debit cards
Debit cards are linked to bank accounts, while credit cards are separate.
- When you withdraw cash or spend with a debit card, it’s usually your own money, unless you have an overdraft, which is a type of credit linked to your account.
- Credit cards give you access to a pre-agreed credit limit. When you spend or withdraw cash, you’re borrowing money you’ll need to repay.
- Interest might be charged on anything you borrow using credit. Fees and charges might also apply, both at home and abroad.
- If you use credit, it’s important to manage your account and payments well to avoid additional fees, charges and any negative impact on your credit score.