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.

Tucosalamanca

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.