FX Credit cards - rate when posted or pending? Who does "when pending"?

eDicky

disney_cjd said:

eDicky said:

disney_cjd said:

eDicky said:

The final rate used for a non-sterling credit or debit card transaction is fixed on the date of settlement, a couple or so working days after the transaction is made. Tandem and Clarity are no different.

There's as much chance of the rate moving in your favour in the intervening time, so it's hardly a case of being 'screwed over'...

You can use Revolut to obtain the interbank exchange rate at the moment of transaction (on weekdays, slight margin on weekends), or indeed use it to convert your pounds to the currency to be used at any time.

Revolt is an option yes.  And as I posted above Halifax agreed it was wrong.  They pending converstion is the date of the transaction. They delayed in applying to my account and so refunded the diff.  They confirmed its a date of transaction NOT the date of posting.

Nothing that I wrote was incorrect. Obviously the agent you spoke to wisely decided that it was easier to to agree with you and pay the relatively small difference in order to get you off the line.

If the rate moves in your favour the next time you make a foreign currency purchase with your Clarity card, I trust you will call them to insist that you repay the difference according to the provisional rate at the time of transaction...

Actually. Sorry you are wrong. Of course unless you were on the call with me and then. They have also emailed today apologising and that they are looking into this as an issue. 

I do love those people that sit in these forum ready to pick jokes rather than help. 

For Halifax (and other) CS agents to have little idea of how foreign transactions work is far from uncommon. Please let us know if you hear any more about their 'looking into it'.

Meanwhile yesterday I paid a couple of bills in euros with my Clarity card and I fully expect the final amount in sterling when settled to be slightly different to the provisional pending amount now showing in the app. As usual.