Someone told me that Wizard Home Loans have a Clear advantage Mastercard that has no fees for overseas transactions....Sounds too good to be true!!

Checked out there website, rang customer service and emailed them and got the same answer - no fees for overseas cash withdrawals or purchases, no conversion rate fee AND you can put money on it so you are in credit!!!

As it sounds too good to be true, I have pondered over how they make their money ( we are talking about a bank remember)

1. The conversion rate is lower to cover costs

2. They hope that you get into debt and will get interest off a majority of people

3. They hope you will open an account with them.

What do others think????

Karin