NatWest CC Dynamic Currency Conversion Fee

geraint83

Hi,

I don't know if anyone else has realise this yet but when I received my NatWest CC statement today it contained a leaflet called "notice of variation".

I noticed on the leaflet the following charges:

"For transactions in foreign currencies - 2.75%"

"For transactions outside the UK (including internet or home shopping transactions) where the original currency is converted into Sterling befroe you make the transaction (this is in addition to any currency conversion fee charged by the retailer or another bank) - 1.25%"

I have always been aware of the 2.75% fee for foreign currency transactions, but how long has NatWest been charging for payments already converted into pounds using DCC at the point of purchase?

Do any other credit cards charge this too, or intend to introduce such a charge?

Biggles

That's a new one on me. But it's an even better reason to make sure you're always billed in the original currency, not in sterling. Bad enough being ripped off by a waiter in a foreign restaurant without your CC firm adding insult to the injury!

King_Of_Fools

That will cause a problem with people buying from CD Wow, etc. - I can imagine this now in a month or so we will be inundated with "Natwest charged me 1.25% for my CD Wow order! :mad:" threads!

Biggles

geraint83 wrote: »

Do any other credit cards charge this too, or intend to introduce such a charge?

See the new thread re RBS Visa charges.

geraint83

Yes, I've seen that threat. NatWest and RBS part of the same group.

Have any other card suppliers introduced this fee?