Non-sterling transaction fees - Lloyds Mastercard

Ann_F

I've just been to Morocco and paid 2 hotel bills on my Mastercard. Received my Lloyds Bank Duo Avios statement today and find that they've charged me a Non-Sterling Transaction fee for each hotel bill. WHAT? i shouted. Since when has a Credit Card charged non-sterling transaction fees when you have bought goods or services?

Can anyone tell me of a credit card that reliably does not charge non-sterling transaction fees when you buy goods or services abroad?

nidO

Since pretty much always, the exact process has changed over the years but most credit cards since forever will charge you a premium for paying for anything in any currency other than your own, in the past it would be through crummy exchange rates, but now most use the Visa/Mastercard main rates and just apply either a percentage, flat fee, or both to any currency exchange transactions.

The main credit card which doesn't apply any foreign currency loading is the Halifax Clarity card.
MSE has a lot of info on travel money/costs at:

http://www.moneysavingexpert.com/travel/cheap-travel-money

StuC75

Before it used to be 'masked' with the exchange rate use - now they offer a better exchange rate - but show a fee separately.. They would have advised you of this in the terms & conditions or recent update...

[Deleted User]

Ann_F wrote: »

WHAT? i shouted. Since when has a Credit Card charged non-sterling transaction fees when you have bought goods or services?

It's not nice to shout at people just because you don't understand something.

reclusive46

For next time you could ask to get your Avios card upgraded, the new Avios account doesn't charge foreign transaction fees.

knightstyle

Have a look at the Halifax Clarity credit card for future trips. We use it for purchases and cash without paying charges and tiny charge for cash as we pay this back immediately by phone.

buffman

reclusive46 wrote: »

For next time you could ask to get your Avios card upgraded, the new Avios account doesn't charge foreign transaction fees.

But there is a £24 annual fee.

~Chameleon~

Halifax Clarity Card. It also gives a great exchange rate and is completely free to use for both purchase transactions and cash withdrawals.

wearside_2

knightstyle wrote: »

Have a look at the Halifax Clarity credit card for future trips. We use it for purchases and cash without paying charges and tiny charge for cash as we pay this back immediately by phone.

I assume that you can also pay back immediately on-line by a transfer?

grumbler

You can, but it has to be immediately after it appears in the statement, not after a withdrawal.
There can be some other nuances as well.

RedDwarf82

wearside wrote: »

I assume that you can also pay back immediately on-line by a transfer?

Supposing your contract has the terms appearing here (halifax.co.uk/creditcards/low-rate-no-fee/clarity-card/terms/)

We use any payments you make to pay off Transactions that appear on your statement starting with those on which we charge the highest rate of interest, and so on down to the lowest rate of interest. If the payment is not enough to pay off all Transactions at a particular interest rate, we will pay off Transactions charged at that interest rate in the following order:- Cash Withdrawals, Purchases, Balance Transfers and Cheques, followed by the charges in conditions 7.1, 7.2 and 7.3. If you pay more than the amount due shown on your statement, we will use any remaining payment to pay off Transactions that have not yet appeared on your statement in the same order as those that do appear on your statement. In this condition, "Transaction" includes the amount of the Purchase, Cash Withdrawal, Cheque or Balance Transfer plus any interest, charges or insurance payment charged as a result of that Transaction.

So I guess they may make you a favour if you call. Otherwise you should be able to pay immediately through internet... supposing you have already paid everything that was in your statement.