Paying by Debit Card

lemontree

When I buy items in Europe with my Nationwide Debit Card I am asked if I would like to pay in British Pounds or Euros, which is best?
Thank you.

richardw

It's called Dynamic Currency conversion http://www.nationwide.co.uk/mediacentre/PDF/Dynamic_Currency_Conversion_Factsheet1105.pdf

Donnie

Euros is the answer.

lemontree

Thank you but please can you explain why?

ManAtHome

If you go for quids, they'll use their own conversion rate - probably 3-5% lower than interbank which you currently get with NW (and no conversion costs or charges). All changes from November - get brushing up on Halifax Clarity, FairFX, and Caxton cards...

bribri_2

I was asked that question in one of the French Supermarkets - Carrefour or Auchan - and the rate was the same as the legit conversion rate.

Is anyone able to work out whether this might be of benefit from November with Nationwide charges?

bribri_2

Having read that Dynamic Conversion factsheet - having a laugh aren't they?
"

However, Nationwide is the only high street financial organisation and the only debit card provider that’s doesn’t charge any fees for card use abroad. "