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Using a debit card in Greece
Rushy_5150
Posts: 9 Forumite
Hi all - when paying for a meal or buying something with a debit card (Nationwide in this case) is it best to convert to local currency or pay in pounds? thanks
0
Comments
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If you're sat at the restaurant in Greece and they bring you the card machine, you may see two options:
-Pay in EUR: Transaction goes through in Euros. Your UK bank will convert to GBP and add any charges/fees. It depends on the conditions of your card what the fees are, some are fee free.
- Pay in GBP: This means the Greek bank will convert EUR > GBP at their own rate, which will be in their favour so they make a bit of commission on the exchange.
What works best is variable. It depends very much on what your UK bank charge in fees (known amount) and what the % commission foreign bank would use (known amount).
Best advice is to get a fee free card, and always pay in the local currency.2 -
Make sure they don't choose the option for you before handing you the machine !!
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