Credit to buy euros?

jckh14

I recently went into debenhams to exchange some euros, the woman said I could use my debit card to buy euros as there wouldn't be a charge.

It now shows on my bank statement with Halifax as an ordinary debit card transaction with debenhams and therefore I have not been charged as the transaction is in £ pounds.

My question is, would the same thing happen if I used my credit card to exchange pounds to euros, as I would get cashback at the same time?

sleepyjones

Buying currency is usually classed as a cash transaction so would theoretically incur the charges for using your card for cash.

Whether or not it only appears as "Debenhams" and is treated as a normal credit card shop purchase ... who knows ... If you can get a card to a zero balance, then take out 50 euros or something and see what happens with the charges, if you get the cash rate just pay it off.

dresdendave

As you bank with Halifax have you tried to get a clarity card? That would give you a better rate than buying currency at bureaux de change.

jckh14

dresdendave wrote: »

As you bank with Halifax have you tried to get a clarity card? That would give you a better rate than buying currency at bureaux de change.

Yeah I thought about getting the clarity card but the island I'm going to in Greece, no one a accepts debit/credit card as cash is cheaper for them

jckh14

sleepyjones wrote: »

Buying currency is usually classed as a cash transaction so would theoretically incur the charges for using your card for cash.

Whether or not it only appears as "Debenhams" and is treated as a normal credit card shop purchase ... who knows ... If you can get a card to a zero balance, then take out 50 euros or something and see what happens with the charges, if you get the cash rate just pay it off.

Thanks, that actually makes sense, silly me

dresdendave

jckh14 wrote: »

Yeah I thought about getting the clarity card but the island I'm going to in Greece, no one a accepts debit/credit card as cash is cheaper for them

Withdrawing the cash at an ATM (assuming they still operate in Greece) with a clarity card will still be cheaper than exchanging money elsewhere, assuming you pay off in full each month.

JJG

dresdendave wrote: »

Withdrawing the cash at an ATM (assuming they still operate in Greece) with a clarity card will still be cheaper than exchanging money elsewhere, assuming you pay off in full each month.

Does Greece still have the 60 euro limit on atm withdrawals?

Nebulous2

60 euro limit was only for locals. Tourists could take out more.

jckh14

I think it all seems a bit to risky for me at the minute to use banking services in Greece, I think i'll stick to using cash this year