Visa Debit Card For Currency Purchase

Fishingtime

You are quick to slag off first choice about the charge,but not so quick to praise Natwest for refunding the charge

ashleypride

Hypothetical wrote: »

But what are Visa actually doing!? Why does this particular 'service' attract a premium??

Who cares what visa are doing? Visa have decided to charge a different handling fee for certain transactions.

Hypothetical_2

dunstonh wrote: »

Consumer greed certainly contributed. Motor industry got it wrong. Nationalised industries referred more to previous financial crisis .



To cover the charge that VISA make to them.



Because VISA do not charge in the same way for those.

I suspected that you had some form of business relationship with the banks....but clearly not! Don't expect to be employed by that sector any time soon especially in a public relations role!

Hypothetical_2

yoxford2008 wrote: »

You are quick to slag off first choice about the charge,but not so quick to praise Natwest for refunding the charge

I will redress that omission now. Thank you, NATWEST! Although, I shouldn't be unduly criticised for suspecting that their actions had something to do with my suggestion that my account might be re-sited if they didn't accede to my request.

Hypothetical_2

ashleypride wrote: »

Who cares what visa are doing? Visa have decided to charge a different handling fee for certain transactions.

This is one of those posts that I feel I ought to respond to, but am not sure quite how!

'Who cares what visa are doing!?'

A few million customers, I'm guessing!!

dunstonh

I suspected that you had some form of business relationship with the banks....but clearly not! Don't expect to be employed by that sector any time soon especially in a public relations role!

The banks are a director competitor to my company. However, I don't see the point of posting negatively about something they have not done wrong.

Although, I shouldn't be unduly criticised for suspecting that their actions had something to do with my suggestion that my account might be re-sited if they didn't accede to my request.

More likely because your blackmail would have cost them more had they refused rather than giving it back.

Hypothetical_2

ashleypride wrote: »

Not a scam, Visa charges for currency conversion, most banks pass on the charge to the customer. The charge will in the T&Cs, it's not upto First Choice to tell you what your bank will charge you.

I may (again) be missing something here, but I did a deal with First Choice to supply x Dollars and y Euros for z Pounds.

They supplied the currency at rates quoted by them and I duly paid for that supply.

All Visa did was to release funds from my account to cover the cost of that purchase....as they would do for a supermarket weekly shop, petrol bought from a garage or anything else for that matter.

I accept that Visa can charge whatever they like for whichever 'service' they like, but I don't understand the logic in charging for 'currency conversion' when in reality they are contributing nothing to the supply.

roonaldo

You dont know what you're talking about. Its nothing like buying petrol. There is currency exchange involved!
You're best bet is to go to cash machine and exchange cash.

Hypothetical_2

roonaldo wrote: »

You dont know what you're talking about. Its nothing like buying petrol. There is currency exchange involved!
You're best bet is to go to cash machine and exchange cash.

Perhaps you would like to explain to someone who doesn't know what he's talking about at what point did the 'currency exchange' occur?

I called into First Choice, collected Dollars and Euros at an agreed price which was to be paid in Sterling and Visa made that Sterling payment on my behalf.

What extra work was incurred by Visa compared to, say, paying for a fuel purchase??

dzug1

Hypothetical wrote: »

, it would make total sense for First Choice to at least have an advisory notice on view at their exchange kiosks.

I can't comment on your particular kiosk but every one I have used recently (meaning in the last few years) has such a notice