banks charging for euro transaction fees...

[delicagirl]

Since my recent visit to France, i have l ooked at my bank statements and find that i have paid nearly £40 in transaction charges when using my HSBC card to buy fuel at 24/7 fuel stations and to buy some presents. i did take a lot of cash for day to day stuff but found the card-fuel payment very convenient.

How do others avoid these charges please ?

thanks

 

[Deleted member 19733]

Since my recent visit to France, i have l ooked at my bank statements and find that i have paid nearly £40 in transaction charges when using my HSBC card to buy fuel at 24/7 fuel stations and to buy some presents. i did take a lot of cash for day to day stuff but found the card-fuel payment very convenient.

How do others avoid these charges please ?

thanks

Hi delicagirl, we use a Nationwide credit card for all purchases, they have NO charges for using it abroad, they always give the best exchange rate from foreign currency to sterling, almost 100% of that days exchange rate, when paying we always pay in the currency of the country we are in. We take only a small amount of cash which we use for small incidentals such as bread, or purchases from markets.

:nicethread::camper::goodluck::drive:

 

[jagmanx]

So far

I use a Post Office credit card for most items
Fuel food etc so far no surcharges and a sensible rate
However this MAY be changing

No good for cash
Their euro cash card also charges for cash

So if I need cash I use my Lloyds account but they charge

So I use the credit card as much as possible

 

[Morphology]

You'll probably find you pay for it one way other the other - Better exchange rate plus a transaction fee, or no transaction fee and a worse transaction rate.

 

[delicagirl]

i spoke to Nationwide and lost the will to live - after being offered so many different choices of bank account i had to open before i could apply for a credit card... so i said no thanks. have just applied to saga on line... 3 minutes job done... lets see what happens next.

many thanks everyone

 

[delicagirl]

You'll probably find you pay for it one way other the other - Better exchange rate plus a transaction fee, or no transaction fee and a worse transaction rate.

Hi am not at all sure i understand this..... could you explain please? thanks

 

[Sharon the Cat]

Santander Zero card (no longer available) no transaction fee & good exchange rates.

Check out Moneysavingexpert.com for good advice.

 

[V1nny]

Since my recent visit to France, i have l ooked at my bank statements and find that i have paid nearly £40 in transaction charges when using my HSBC card to buy fuel at 24/7 fuel stations and to buy some presents. i did take a lot of cash for day to day stuff but found the card-fuel payment very convenient.

How do others avoid these charges please ?

thanks

The Halifax Clarity card gives you an excellent (almost wholesale) exchange rate without any transaction fees for purchases.

There is a small fee for withdrawing cash from an ATM, and cash withdrawals will attract interest until paid off. If I ever need to withdraw cash when abroad, I use internet banking to pay the cash into the credit card account before withdrawing the cash to avoid paying any interest.

We managed a month in France this year without paying any charges on the Halifax card.

 

[Channa]

[/B]


Hi am not at all sure i understand this..... could you explain please? thanks

Exchange rates are typically tourist or commercial , So dependant upon your account you could get commercial rate but expect to pay a transaction charge, Or poorer rates and no exchange rate the transaction fee in effect is hidden.

I hope this explains

Channa

 

[trooper2000]

Another vote for Saga Credit Card, it's a Visa Card so you get the Visa exchange rate.
Set up a 100% payoff Direct Debit and you will never pay any interest on purchases.

 

[delicagirl]

Another vote for Saga Credit Card, it's a Visa Card so you get the Visa exchange rate.
Set up a 100% payoff Direct Debit and you will never pay any interest on purchases.

that's what i have applied to do ... so let's see if i get one ... no reason why not....

thanks everyone..

 

[Wooie1958]

Halifax Clarity card for fuel including the 24/24 stations and the Caxton FX card for everyday use including ATM withdrawals.

 

[iampatman]

The Halifax Clarity card gives you an excellent (almost wholesale) exchange rate without any transaction fees for purchases.

There is a small fee for withdrawing cash from an ATM, and cash withdrawals will attract interest until paid off. If I ever need to withdraw cash when abroad, I use internet banking to pay the cash into the credit card account before withdrawing the cash to avoid paying any interest.

We managed a month in France this year without paying any charges on the Halifax card.

We use the Halifax Clarity card also and we’ve never been charged a fee for cash withdrawals from an ATM anywhere in Europe. We repay any withdrawals within 48hrs and pay no interest charges.

Pat

 

[TeamRienza]

Have a look at Starling Bank. Given the ok by Martin Lewis it has the following features,

1 commission free use in any country,
2 MasterCard rates of exchange,
3 no charge for ATM withdrawals,
4 interest paid on balances to £2000,
5 card can be switched off by app when not in use
6 link it too an existing account with your 'home' bank for instant top ups.
7 £85,000 protection

I have a Starling card, easy application by iPad or smartphone. I have made two deposits from my current account, one small to prove the system and a second to load a usable amount.

To be fair I have not used it yet as I have only recently acquired it and will not be abroad until April, but I have no reason to doubt its usefulness.

Starling Bank - See your money in a new way | Mobile banking

See what you think.

Davy

 

[andyjanet]

that's what i have applied to do ... so let's see if i get one ... no reason why not....

thanks everyone..

Delicious They won't give you a saga card, terms and conditions say for all saga products you need to be over fifty you still have five years to go.

 

[Roger Haworth]

Please see:

https://www.wildcamping.co.uk/forum...onal/credit-cards/platinum-travel-credit-card

Not only can you do commission free purchases abroad but you can also draw foreign currency without incurring charges so long as you pay off your balance in full each month.

 

[delicagirl]

Delicious They won't give you a saga card, terms and conditions say for all saga products you need to be over fifty you still have five years to go.

shucks andy - you giving my age away Again !!! naughty boy :dance::dance::dance:

 

[Morphology]

[/B]Hi am not at all sure i understand this..... could you explain please? thanks

Say you bought something in France that cost €100 with Card A

Card A makes a big deal of the fact that they charge NO COMMISSION. You get home, examine your statement, and see that the item you bought has cost you £88.50 this means they have converted the Euros at a rate of €1 = £1.13

Say you bought the same thing with card B

Card B gives you a better exchange rate of €1 = £1.14 (that makes a Euro cheaper, so it's better, yes?) BUT, they have a fixed fee of £1 per transaction

So, you'll end up paying (100/1.14) + 1.00 = £88.72 so that's more expensive, 22p more expensive.

But, buy something in france for €1000 and see what it does:

With Card A (No comission), it'll cost you 884.95
With Card B (£1 transaction fee), it'll cost you £878.19 so you're £7.76 better off using the card that charged you the fixed transaction fee, but gave you a better rate.

 

[Linda]

We have a Halifax clarity for all credit card transactions which is paid off monthly and a sainsbury preloaded euro card for cash withdrawals and debit card payments- start out with about £500 then do on line banking to transfer more cash if needed.

 

[Canalsman]

Halifax Clarity.

Uses Mastercard interbank exchange rate for conversion which apparently is better than the Visa rate.

Contrary to what another poster said above there is no charge for cash withdrawals though you will pay interest till the next statement date.

I rarely use cash when abroad cards being accepted in many places. If I pay 25p a month on interest it's a lot!

If you draw large amounts of cash it may be best to go online and pay it off quickly thereby ensuring little or no interest charges accrue.