Connect card fee for Travelex FX purchase

Innys

Hi guys

Just to warn you, I have found out Barclays charge a fee for buying currency from Travelex. I found out the hard way and am querying it with them.

After all, it's not like a using a credit card where I am, effectively, borrowing cash from them. By using a Connect card (a VISA debit card), I already have the money in my current account so why should they charge me a fee for the privelidge of using my own money? It stinks.

Will let you know how I get on.

I

Innys

Not surprisingly, Barclays are saying it is Travelex which are charging the money.

At any rate, if Travelex know Barlcays are charging the fees (and it is not themselves), the least they could say is warn us of that on their website.

Conclusion? Don't buy currency from Travelex - you'll get ripped off on fees that are not mentioned when the purchase e-mail confirmation is received.

dmg24

It is Barclays that are charging you. It is stated on the Travelex website. It is not a rip off. It is not the fault of Travelex that you do not read the information thoroughly before committing to buy.

_Andy_

Did a dummy order and put in Visa Debit. It does state "Please note you may incur a cash advance fee from your card issuer if you pay with this card."

Innys

dmg24 wrote: »

It is Barclays that are charging you. It is stated on the Travelex website. It is not a rip off. It is not the fault of Travelex that you do not read the information thoroughly before committing to buy.

All the Travelex website says is "Credit/Debit cards may be subject to a cash advance fee made by the card issuer".

That's a rather convenient way of putting it. How can anyone tell whether or not they will get charged? Plus, how does anyone know if it is really a fee charged by Travelex rather than Barclays?

To me, it appears a sly way to charge you extra and blame someone else (i.e. Barclays). I guess the answer is "may" in the above T&Cs means "you will be charged more than you thought and you can't prove who it was".

It's especially galling when their website also says "Travelex will not charge you for using a UK debit card". I guess the only way to be certain of avoiding a fee is to pay using a Matercard Debit, Solo or Electron card

Glittermonkey

Innys wrote: »

All the Travelex website says is "Credit/Debit cards may be subject to a cash advance fee made by the card issuer".

That's a rather convenient way of putting it. How can anyone tell whether or not they will get charged? Plus, how does anyone know if it is really a fee charged by Travelex rather than Barclays?

Travelex have to quote it that way as they cant guarantee who will be charged and who wont, as it's not their charge, it's the banks.

As for knowing if its Travelex or Barclays charging, read the T&C issued by your bank, it should state you will charged a certain amount when using your card to buy FX.

Steve_xx

Glittermonkey wrote: »

Travelex have to quote it that way as they cant guarantee who will be charged and who wont, as it's not their charge, it's the banks.

As for knowing if its Travelex or Barclays charging, read the T&C issued by your bank, it should state you will charged a certain amount when using your card to buy FX.

The problem is that the banks say it is not they who levy the charge. The banks say it is Visa who levy the charge

It does want looking into though. I can't see why Visa should treat themselves to a fee on a debit card when it is used to buy currency. Next thing you know they'll be charging for general purchases.

dzug1

Innys wrote: »

Not surprisingly, Barclays are saying it is Travelex which are charging the money.

At any rate, if Travelex know Barlcays are charging the fees (and it is not themselves), the least they could say is warn us of that on their website.

Conclusion? Don't buy currency from Travelex - you'll get ripped off on fees that are not mentioned when the purchase e-mail confirmation is received.

If Barclays say that they are lying - it's Visa who actually charge and Barclays who pass it on to the customer.

Travelex don't KNOW Barclays are charging - the know Barclays MAY charge and warn you to that effect.

Conclusion - read your OWN bank's T&C and buy your currency accordingly. Don't slag off innocent third parties.

bankemployee101

Innys wrote: »

Hi guys

Just to warn you, I have found out Barclays charge a fee for buying currency from Travelex. I found out the hard way and am querying it with them.

After all, it's not like a using a credit card where I am, effectively, borrowing cash from them. By using a Connect card (a VISA debit card), I already have the money in my current account so why should they charge me a fee for the privelidge of using my own money? It stinks.

Will let you know how I get on.

I

Hi Innys, if you visit this page http://www.personal.barclays.co.uk/BRC1/jsp/brccontrol?site=pfs&task=homefreegroup&value=13396, you can find a breakdown of all your debit card's terms and conditions in the respect of charges.
The majority of debit cards come with this charge (at a similar price), and it's neither Travelex's 'mistake', nor Barclays' (nor VISA's for that matter!), because it's a set charge.
Given everyone's financial situation at the moment, it seems pointless paying unnecessary charges; in short, whenever buying currency, it's worth withdrawing the cash and buying over the counter!

dzug1

bankemployee101 wrote: »

Given everyone's financial situation at the moment, it seems pointless paying unnecessary charges; in short, whenever buying currency, it's worth withdrawing the cash and buying over the counter!

Well actually no, it's not as simple as that. The charges (hidden in the doctored exchange rate) for buying over the counter more often than not come to more than the charges (overt) for using a card. Even with Martin's 'cards from hell'.....

And you don't get Travelex's good rates over the counter - they are actually among the worst for cash purchases.

yorkshireblonde

Does anyone know if Lloyds do the same for their debit cards and charge? Was going to use my bank card to order currency to pick up. But may have to change my strategy.