MSE News: Paying by card on holiday? Here's why you should keep hold of the terminal

benjus

jk0 wrote: »

No. I did not misunderstand. Both companies told me that when I use my card abroad, there will be a request come up on the machine display for further security information. However, many retailers simply tell you the card has been refused. In that case, you will find your card blocked until you make contact with the card issuer.

In view of all that nonsense, cash it is!

Or get a different card. Or better still, several cards. I'm basing my comments on actual experience of using my cards all over the world, not on something that someone told me.

This is a money saving site, so the main thrust of the advice is how to save money. The way to do that when travelling abroad is to use cards. Using cash has a number of disadvantages:

• You will never get as good an exchange rate at a bureau de change as you would with a fee-free card.
• Carrying large amounts of cash is a security risk.
• What do you do if you run out of cash?
• To avoid running out of cash you may take more than you're likely to need, which means you'll probably have some to change back at the end. You'll probably get a worse rate changing back than you did changing in the first place, so you'll lose more.

zagfles

jk0 wrote: »

No. I did not misunderstand. Both companies told me that when I use my card abroad, there will be a request come up on the machine display for further security information. However, many retailers simply tell you the card has been refused. In that case, you will find your card blocked until you make contact with the card issuer.

In view of all that nonsense, cash it is!

Which companies? You seem to have problems no-one else has.

lpgm

Here's my TripAdvisor review of a restaurant in Kuala Lumpur back in March 2016. I didn't even mention the food!

"If you pay by credit card, watch out for the dynamic currency conversion (DCC) screen *after* you've entered your PIN. I had to press '2' to choose to pay in ringgits. The waiter seemed worried about what I was doing with his terminal, which suggests most people don't press anything at this stage and end up paying over the odds in their own currency."

Dewpoint

Been using my Nationwide cards abroad for decades. I get near bank-rate exchange rates on credit-card purchases (fuel, hotels, car-hire etc), and I use the credit-card for everything except withdrawing money from a ATM.

I just use my debit card to withdraw a wad of notes from an ATM every so often as a source of money for small purchases (coffees etc). Yes - I pay a small commission on the debit-card transactions but the exchange rate I get on that is far better than going to a foreign bank, but I pay NO commission on credit-card payments whatsoever while getting a fantastic exchange-rate. I would never take a huge wad of foreign currency with me when travelling abroad - it's just asking for trouble.

Nationwide is by far the best way of banking in my opinion. They work for their customers and members not for shareholders.

Roger1

Dewpoint wrote: »

Nationwide is by far the best way of banking in my opinion. They work for their customers and members not for shareholders.

The Nationwide ad is all very interesting (and I tend to agree) but what has it to do with DCC and the topic in this thread?

hadenoughapologies

Have been using Travelex Supercard (discontinued product now) Post Office Credit Card for many years both gave perfect exchange rates and cant recall any big problems. Unfortunately you are relying on the honesty of the person operating the machine (and most are) as the language on the machine will not be English so you are at their mercy. If a mistake is made and noticed the language barrier will undoubtedly fall and there is very little you can do. Sometimes you are also asked to sign a receipt and tick that you have chosen to pay in pounds or local currency so it is a bit clearer but most see English card so want to or are instructed to charge in pounds. Maybe a prepaid euro card is the way to go for Euroland, having never used one I cannot comment but presume they will only allow euro charges.

eDicky

hadenoughapologies wrote: »

Maybe a prepaid euro card is the way to go for Euroland, having never used one I cannot comment but presume they will only allow euro charges.

No, it won't help, if it's UK issued it will be recognised and DCC offered, and in this case it will be worse if you accept it because your euros will be exchanged to pounds by your card provider and back to euros by the terminal/ATM so you will lose twice. You just have to avoid the option to pay in pounds and it is usually in English to match your card country and/or otherwise obvious.

Dewpoint

Roger1 wrote: »

The Nationwide ad is all very interesting (and I tend to agree) but what has it to do with DCC and the topic in this thread?

The thread is entitled "Paying by card on holiday" isn't it. I've just presented my experience of using my cards (credit and debit) after spending a significant amount of time each year in Europe over the past decades.
As I pointed out - Nationwide works for its members - not for shareholders - and saving money is what MSE is all about I thought!

davenlesleyH

Swiss railways and chair lifts are somewhere to watch out for. I have been done twice although the 2nd time I approached my card supplier and complained. They clawed back £7.14 from Gornegrat railway in Zermatt.


We noticed the sum change to GBP after we entered our pin and queried it immediately with the cashier who simply laughed and said "Too late now"

PeacefulWaters

Dewpoint wrote: »

Nationwide works for its members !

Or its well paid executives.