Making payments in another currency (USD $ mainly)

cosmnw1

Good evening everybody

It has happened in the past that I have to make payments in $USD.

In particular I have a small monthly amount for google drive space, where the amount is rather small. of the order of $2 per month.

I am having to pay a few other monthly, small charges for other reasons.

Right now I am using Halifax to make such payments, and I have noticed that every time a £1.50 charges is levied against my account. I pay more for the charge than for the actual expense.

I also suspect the exchange rate is non-favourable to say the least.

What do savvy MSErs do to avoid this situation? I am thinking ewallets and virtual cards mainly, but any input is welcome.

Thanks in advance.
C

jonesMUFCforever

If you have a Halifax account do you qualify for their Clarity credit card with no loading or charges for overseas transactions.

simongregson

For these small amounts any credit card would not levy the per transaction fee, although most cards have a 3% fee this would be tiny for the amounts you are paying. A lot of debit cards just charge a % fee as well. So if you have any credit card account or a debit card from another bank you can reduce your fees straight away. JonesMUFC is right that to pay even less you could get a 'no fees on other currencies' card. This guide http://www.moneysavingexpert.com/credit-cards/travel-credit-cards tells you everything you need to know.

eDicky

The simplest and quickest solution would be Revolut, if you use an Android or iOS smartphone. Install the app and sign up, top up with your debit card, then you're ready to pay in dollars using the virtual card with zero fees and conversion at the ideal interbank rate.

https://revolut.com/

grumbler

jonesMUFCforever wrote: »

If you have a Halifax account do you qualify for their Clarity credit card with no loading or charges for overseas transactions.

Aqua Reward is the card most people are likely to qualify for - except credit offenders.