Non Sterling Transactions

raba770

Hi, The last couple of months or so I have been getting charged by RBS for non sterling transactions in the US. is this charge across the board with all credit cards or is there cards that do not charge for non sterling transactions. the transactions I am talking about would be purchases and subscriptions. I look forward to reply's.
Thanks
Raba770

grumbler

Cheap Travel Money: Top cards for spending abroad - Martin's article

dalesrider

When you say charged. Just what do you mean?

Is it a seperate transaction showing on your statement. Or is it a case that you cannot get the exchange rate to tally to the debit amount.

raba770

Hi, By charge I mean that on my statement I have been debited the amount calculated, roughly 2.75% of the purchase price of item bought.
example: If I purchase an item from a US company for $100 it would show on my RBS statement converted to Sterling-GB Pounds plus the debit for a non- sterling transaction a (conversion fee) hope this makes it clearer.
thanks Robert

Chino

raba770 wrote: »

Hi, By charge I mean that on my statement I have been debited the amount calculated, roughly 2.75% of the purchase price of item bought.

From http://www.rbs.co.uk/personal/credit-cards/g3/abroad.ashx:

"Daily credit card foreign exchange rates are set by Visa and MasterCard. The links below will transfer you to the Visa and MasterCard websites to calculate indicative foreign exchange rates. Please note that currencies fluctuate everyday. Credit card transactions abroad incur a 2.75% fee."

raba770

Thank you, It seems that there has always been a fee for non-sterling transactions. I have never noticed this till recently. so am I correct in thinking that my purchases and subscriptions from abroad are all more expensive by 2.75% because of this fee?
thanks Robert

grumbler

Yes, you are right. Get a more appropriate card for foreign currency transactions.

Buzby

Yes it is IF they bill in a foreign currency. Some websites show a Sterling amount and still charge you in their native currency. Some cards (like my Santander one) hit me with a 'foreign use' fee fixed at £1.75 plus the conversion - but as this was at the interbank rate, this was fine.

There are only a few cards at give a free ride when it comes to overseas purchases.

chattychappy

Buzby wrote: »

There are only a few cards at give a free ride when it comes to overseas purchases.

Yep, Nationwide Select*, Halifax Clarity, Post Office Mastercard*, Santander Zero* (probably not available to newcomers), Sainsbury Gold (annual fee, but with insurance), Metrobank are the ones that spring to mind.

(* personal experience of.)

reclusive46

chattychappy wrote: »

Yep, Nationwide Select*, Halifax Clarity, Post Office Mastercard*, Santander Zero* (probably not available to newcomers), Sainsbury Gold (annual fee, but with insurance), Metrobank are the ones that spring to mind.

(* personal experience of.)

Norwich and Peterborough also have fee free forex fees. The only Visa card with no transaction fees in the UK if I remember correctly.

chattychappy

reclusive46 wrote: »

The only Visa card with no transaction fees in the UK if I remember correctly.

Nationwide Select is Visa and doesn't load. But I believe it is only available to people with a NW Flexaccount. I recall they might also have another Visa card where you can "build up" an allowance of loading-free foreign spend by spending in the UK.