Norwich & Peterborough Building Society is no longer accepting new applications for its Gold Classic current account, which is a top pick for overseas spending.

The account comes with a debit card that charges no transaction or cash withdrawal fees abroad, making it good to use on holiday.

It was closed to new customers on Wednesday (5 October), though existing customers can continue to use their accounts with the same benefits.

New customers can also no longer apply for the Gold Start account, a more basic version of the Gold Classic which doesn't offer fee-free overseas spending.

What are my other options for cheap overseas spending?

While fee-free debit cards are a good option for use abroad (especially if you're withdrawing a lot of cash), you have to change your bank to get one.

This is why we often suggest specialist travel credit cards, which also charge no transaction or ATM fees abroad, though most charge interest on cash withdrawals.

Our top-pick travel credit cards are the Creation Everyday and the Halifax Clarity these charge 12.9% and 18.9% interest respectively on cash withdrawals, amounting to around 1-1.50/mth per 100 withdrawn.

Martin Lewis
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What if I don't want to take out a credit card?

If you don't want a credit card, there are a couple of other bank accounts that are decent for overseas spending. Metro Bank's current account is fee-free in Europe (it charges no foreign exchange loading or cash withdrawal fees on its debit card on the Continent), while Virgin Money's basic bank account has fee-free spending worldwide and a low ATM withdrawal fee of 1.50.

What does Norwich & Peterborough say?

A spokesperson for the building society says: "We are currently looking closely at the wider current account market, following a series of changes over the past 18 months.

"We believe the most appropriate course of action at this time is to suspend openings of new current accounts whilst we carry out this work."

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