Paying for hotel in euros

CaptainWales

Hi. I have booked a room in Spanish hotel direct on hotel website so need to pay in euros, secured booking with credit card. Is there any way I can avoid paying any fees as I think hsbc charge 2.99% plus transfer fee? The hotel tell me that they cant accept more than 1000 euros in cash. But I need to pay more than this.

Upsidedownandaround

Yes, use a credit card that has no foreign currency transaction fees.

There are a number of credit cards which have this. Whether or not it's worth taking a new one out just for this is up to you but it does make sense to have at least one card to use abroad and avoid fees.

https://www.moneysavingexpert.com/credit-cards/travel-credit-cards/

CKhalvashi

You're likely to pay more than 2.99% to change your money to Euro in the UK. This requirement is likely due to AML requirements in Spain.

Cheaper options are available (at 0% on the Visa/Mastercard rate), but I use a Wise card, mainly as I use them for business transfers anyway monthly, and have never had a problem using it abroad. I also have a Barclaycard at 0% over the (I think) Visa rate, so a new card may be an option for you.

[Deleted User]

Revolut card works very well for me. Real benefit is being able to forward buy currency when rates are good (recently bought Euros above 1.20 for example) Revolut – One app, all things money

CaptainWales

Thanks all. Rang hsbc and said that paying online in euros, I would only get charged 2.9%. 

Voyager2002

CaptainWales said:

Thanks all. Rang hsbc and said that paying online in euros, I would only get charged 2.9%. 

"Only"?? That is still an outrageous amount.

The obvious solution is to get a visa credit/debit card without a surcharge for foreign currency transactions. If you don't have time or your credit rating is poor then get yourself a Curve card to use with your existing credit card to avoid the surcharge.