Halifax Reward Charges

sealdriver

Hi
I've just switched my bank to Halifax from Barclays. The switch appeared to go well and my money is now in the Halifax, I have received my incentive.
However, when checking my account online I noticed a couple of debits of which I was unaware, it appears that as I used my debit card to pay for two small items online in US dollars I have been charged an extra £1.50 per item plus a percentage of the cost. I was unaware these charges existed when I moved my account.

Does anyone know how they justify these charges for doing nothing?
How long do I have to stay with them now I've switched (without losing the incentive)?
Any recommendations for bank accounts that don't rip you off?

Thanks.

pjread

don't barclays also charge for that... maybe a percentage rather than fixed-fee.

if you regularly buy stuff in non-sterling, I'd suggest a clarity CC. that's what I use.

sealdriver

pjread wrote: »

don't barclays also charge for that... maybe a percentage rather than fixed-fee.

if you regularly buy stuff in non-sterling, I'd suggest a clarity CC. that's what I use.

Hi
No, Barclays never charged me anything for buying in dollars.

I have CCs I can use but then will have to remember to clear them each month to avoid charges, just inconvenient and not what I wanted from my bank account.

Cheers

grumbler

sealdriver wrote: »

I was unaware these charges existed when I moved my account.

Well, nothing stopped your from getting aware:
http://www.halifax.co.uk/bankaccounts/rates-rewards-fees/

Buying goods and services in a foreign currency

If you use your debit card to withdraw cash or pay for goods and services in a currency other than sterling, the exchange rate we use will be the Visa Payment Scheme Exchange Rate. We will charge a non-sterling transaction fee of 2.75% of the amount of the transaction and a £1.50 non-Sterling purchase or non-Sterling cash fee for each payment or withdrawal. Alternatively if you choose to complete your cash withdrawal using the overseas Bureau or cash machine providers conversion rate to Sterling, we will only charge a foreign cash fee of £1.50. The provider of the foreign currency may make a separate charge for conversion

Does anyone know how they justify these charges for doing nothing?

They don't need to justify them. And they aren't the only one: Your Card's Overseas Charges

How long do I have to stay with them now I've switched (without losing the incentive)?

What's the point in switching again if you can keep getting £5 p.m.? Just get another card for foreign transactions.

Any recommendations for bank accounts that don't rip you off?

See MSE article linked above.

pjread wrote: »

don't barclays also charge for that... maybe a percentage rather than fixed-fee.

Unlike Barclays, Halifax charge both the percentage and the fixed fee. For small transactions this makes a huge difference.
According to MSE classification, Halifax card is one of the "cards from hell" while Barclays card is just "a bog standard overseas spending card"

dzug1

sealdriver wrote: »

Does anyone know how they justify these charges for doing nothing?

Do they have to 'justify' them?


Sounds like your mind was fixated on the incentive rather than checking the T&C


Virtually all banks charge for foreign currency transactions.


Metro bank doesn't (current account only).


Halifax Clarity credit card doesn't - being already a customer could go either way as to whether you can get one or not


Some Nationwide accounts don't


Maybe one or two others I can't recall offhand

sealdriver

dzug1 wrote: »

Do they have to 'justify' them?


Sounds like your mind was fixated on the incentive rather than checking the T&C


Virtually all banks charge for foreign currency transactions.


Metro bank doesn't (current account only).


Halifax Clarity credit card doesn't - being already a customer could go either way as to whether you can get one or not


Some Nationwide accounts don't


Maybe one or two others I can't recall offhand

Well, I think they should justify them, they are taking money for nothing. But I am obviously in a minority, no wonder we get ripped off.

I'll look at the Clarity card.

Thanks

dzug1

sealdriver wrote: »

Hi
No, Barclays never charged me anything for buying in dollars.

I have CCs I can use but then will have to remember to clear them each month to avoid charges, just inconvenient and not what I wanted from my bank account.

Cheers

Yes Barclays did charge you - 2.99%

sealdriver

dzug1 wrote: »

Yes Barclays did charge you - 2.99%

No, they did not. There were never any charges on my Barclays account.

grumbler

dzug1 wrote: »

Metro bank doesn't (current account only).

Europe only. The OP's purchases were in $.

Some Nationwide accounts don't

The premium one with a monthly fee.

grumbler

sealdriver wrote: »

No, they did not. There were never any charges on my Barclays account.

Yes, they did. The charge used to be hidden in the exchange rate that you didn't bother to check. I guess you just have not made any foreign purchases recently, when all banks started showing the charge as a separate transaction.

dzug1

sealdriver wrote: »

No, they did not. There were never any charges on my Barclays account.

That's because they were hidden in the exchange rate rather than itemised as a separate charge