MSE News: Banks to scrap some currency charges

catokelly

leedspete wrote: »

so on natwest website it stills states that they will charge you for using a bureau de change but i haven't received a leaflet about then dropping the charges

Its one of those generic leaflets they send out every six months or so, the front page say something like 'changes to our terms and conditions'. I will try to dig it out if i can find it!

zagfles

catokelly wrote: »

Yes it is our own money when using a debit card to purchase currency, we know that...

However, when you get your debit card receipt from a bureau de change it will say cash advance as opposed to sale. That's how the banks charge their debit card customers in the first place, as the transaction is not treated as a sale.

The banks who do charge customers extra then claim it is visa's charge for a cash advance (even though its a debit card). So when natwest moved from Maestro to Visa debit it started charging (yet many other banks do not charge customers on a debit card).

At the end of the day, we know it's just an excuse by the banks to make more money.

Indeed. It's no more a "cash advance" than when you stick your card in an ATM to withdraw money.

metaphase

catokelly wrote: »

Its one of those generic leaflets they send out every six months or so, the front page say something like 'changes to our terms and conditions'. I will try to dig it out if i can find it!

Yep, just spotted the same change on a T&Cs leaflet from RBS - thank goodness they're finally seeing sense!