Debit Card Charges?

salar_2

I have just been charged 1.5% by my bank for purchasing foreign currency using my Visa debit card. I am told this charge is levied by Visa. What is so special about foreign currency? What is the point of a debit card if it incurs charges similar to a credit card?

pre123

well i work in a post office and everytime a customer pays with a debit OR credit card we have to warn them their card issuer may apply a charge to the payment.. and we can also say its a cash handling fee that is applied but not what issuers apply or do not apply it. if you check your terms and conditions it will be somewhere in there if they charge or not. im with barclays and on back of statements they say they charge for all bureau payments.. currency, travellers cheques etc
hope this helps a little

DCFC79

Did you not read the terms and conditions, its pretty well known that theres a fee when buying currency

jonesMUFCforever

It is not levied by Visa but by the card issuer.
I agree that it is in the terms and conditions sent to you with a new or renewal card - you know the junk you throw straight in the bin once you have unstuck the card from the envelope!

dzug1

Remember that with a credit card you are charged interest as well.

The reason (and I'm not saying I agree with it) is that it's not a purchase, but a cash payment/advance, and not from an outlet (eg a cash machine from a particular network/networks) that is defined as free.