"Non sterling transaction fee"?

EnglishDude

What exactly does "Non sterling transaction fee" mean? I have a Capital One Aspire World credit card which in the past doesn't charge for foreign purchases in the local currency. However, I received a leaflet in the post today from Capital One saying that they now charge a "non sterling transaction fee". Looking on my statement, the "foreign purchase fee" is still nil, and I can't find the "non sterling transaction fee" on the statement. Their website still advertises "free to use abroad".

However, looking on Halifax Clarity website, they say there's no fee for foreign purchases and "non sterling transaction fee" is also nil, so this card is still free to use abroad.

I'm a bit confused now - is my Capital One credit card still free to use abroad or do I have to pay a percentage of it?

Many thanks!

dzug1

Maybe the leaflet is telling you about something that is about to be introduced rather than something that has already happened?

OhReally_2

EnglishDude wrote: »

What exactly does "Non sterling transaction fee" mean? I have a Capital One Aspire World credit card which in the past doesn't charge for foreign purchases in the local currency. However, I received a leaflet in the post today from Capital One saying that they now charge a "non sterling transaction fee". Looking on my statement, the "foreign purchase fee" is still nil, and I can't find the "non sterling transaction fee" on the statement. Their website still advertises "free to use abroad".

However, looking on Halifax Clarity website, they say there's no fee for foreign purchases and "non sterling transaction fee" is also nil, so this card is still free to use abroad.

I'm a bit confused now - is my Capital One credit card still free to use abroad or do I have to pay a percentage of it?

Many thanks!

A "Non sterling transaction fee" is a fee the credit card company charge for a transaction that is not in Sterling. This is an additional fee on top of the currency conversion rate.

Where charged this was formally hidden within the conversion but now credit card companies must show this fee separately.

Perhaps the fee your card supplier charges is £0.00

brendon

Most banks deem transactions from abroad and in a currency other than sterling as the same. But, some of them treat them differently. If you pay in pounds in France, you will not be charged a non-sterling fee, but you will pay a foreign transaction fee if your bank differentiates between them. Most, however, make no distinction.