We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Credit Card Currency Charges
T_Dog_2
Posts: 4 Newbie
Hi All, I'm new to this site and wanted any help you could offer as I have just got a credit card charge for currency and i dont know what i did wrong?!
We are going on a few weekends and trips in Europe this summer so i decided to get £1000 worth of currency all at the same time. I used this site to get the best rates and deal etc. I also used my credit card to get protection in case anything went wrong, even though I had the money in my current account.
I used BUPA exchange through a company called ICE. They indicated no charge would be levied for using a credit card so i went ahead and ordered, the money turned up within 48 hours and everything was fine.....or so i thought.
I used my HSBC Gold Card (VISA) and i noticed a £29.99 'cash exchange fee' on my statement. I rang HSBC and they said that buying foreign currency was a cash transaction, the same as withdrawing money from an ATM, so there was a 2.9% charge for doing this. They sadi its in the T&C's etc which i'm sure it is.
Can i do anything about this? Would i have protection in the future if i had used my visa debit card?
Thanks
We are going on a few weekends and trips in Europe this summer so i decided to get £1000 worth of currency all at the same time. I used this site to get the best rates and deal etc. I also used my credit card to get protection in case anything went wrong, even though I had the money in my current account.
I used BUPA exchange through a company called ICE. They indicated no charge would be levied for using a credit card so i went ahead and ordered, the money turned up within 48 hours and everything was fine.....or so i thought.
I used my HSBC Gold Card (VISA) and i noticed a £29.99 'cash exchange fee' on my statement. I rang HSBC and they said that buying foreign currency was a cash transaction, the same as withdrawing money from an ATM, so there was a 2.9% charge for doing this. They sadi its in the T&C's etc which i'm sure it is.
Can i do anything about this? Would i have protection in the future if i had used my visa debit card?
Thanks
0
Comments
-
Depending which debit card you use, you may well be charged a similar percentage for using that to purchase currency - most of the large high street banks make this type of charge unless you use their own FX services.Would i have protection in the future if i had used my visa debit card?0 -
Have you paid off the card yet? If not, do it asap as they will be charging you interest at the cash rate from the day of the transaction...Let's settle this like gentlemen: armed with heavy sticks
On a rotating plate, with spikes like Flash Gordon
And you're Peter Duncan; I gave you fair warning0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards