Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
MSE NEWSFLASH 19/2
MARTIN LEWIS WARNS OF A TAX TRAP THAT COULD COST YOU £10,000s OFF YOUR PENSIONHMRC TO WAIVE MARCH LATE PAYMENT FEES FOR SELF-ASSESSMENT TAXPAYERS - BUT INTEREST WILL STILL BE CHARGED
EDF, E.ON, NPOWER AND SCOTTISH POWER TO HIKE BILLS FOR MILLIONS BY ALMOST £100/YR AFTER ENERGY PRICE CAP RISE
Ryanair's guaranteed exchange rate
3 replies
8.1K views
1.6K posts
I went to book a flight from Poland to England for a friend and noticed that Ryanair now converts the price from zloty to pounds. They call this the "guaranteed exchange rate" and there is an option to opt out of it. I noted down the Ryanair rate (0.2273350) and opted out, instead paying in Polish zloty. I then checked my Mastercard statement (FairFX Prepaid Mastercard) and found that I had saved 5.6% by doing this. So, I did the right thing not to take Ryanair's rate. I just thought I'd pass this on for anyone else buying Ryanair flights to the UK from another country: their exchange rates are not very good.
0
This discussion has been closed.
Quick links
Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support
Replies
Here is my example of flights booked on 9th February 2010:
- Total price of flights and charges €859.92. I live in Northern Ireland so am often booking flights from Dublin in Euro, but my cards are all UK Sterling
- Ryanair's guaranteed rate was 0.9361 giving a sterling equivalent of £805
- I opted out of this and paid in Euro, allowing my card company to give me their exchange rate (FairFX pre-paid MASTERCARD)
- Exchange Rate I got was 0.874
- Price I paid in Sterling £751.63 (excluding FairFX commission which is payable in any case)
- TOTAL SAVING OVER RYANAIR'S PRICE = £53.37.
Had I opted for Ryanair's guaranteed rate, they would have pocketed the difference!
It only appeared after I input the credit card number, name and "valid to"!
And it appeared above the credit card details, so that you're most likely to miss it, and if you have no idea about this scam, there's no chance of avoiding it!
Their cheek is just breathtaking...