Using m and s card for currency

Sncjw
Sncjw Posts: 3,502 Forumite
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Hi 

Can I use an m and s card to pay for currency at a baueu and not be charged any fees? 
Mortgage free wannabe 

Actual mortgage stating amount £75,150

Overpayment start date 1/3/23.

Starting balance £66,565.45

Current balance £63,787.16

Comments

  • MrFrugalFever
    MrFrugalFever Posts: 1,231 Forumite
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    edited 23 April 2023 at 12:06AM
    Hi, I’m fairly sure the M&S CC will charge you either a) cash-like transaction fee or b) a foreign transaction fee or c) both!

    You would need to read your statement, which will outline the fees.

    The cash-like transaction bit will very much be determined by the MCC used by the retailer and how M&S interpret that. Buying money is almost certainly going to be classed as a cash transaction by most CC providers.

    However, Zopa CC are 0% fx fees and £3 cash withdrawal fee and 0% cash-like transaction fees just FYI.
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  • lam23
    lam23 Posts: 1 Newbie
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    I think if you use an M&S credit card to obtain currency at an M&S bureaux it is fee free. If you use any other bureaux you'll likely be charged.
  • lr1277
    lr1277 Posts: 1,668 Forumite
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    edited 23 April 2023 at 11:10AM
    According to the webpage for the M&S foreign exchange page, you pay no fees and get 55 days interest free credit if you pay with the M&S credit card.

    Edited to add: I think I meant to write upto 55 days interest free credit.
  • lr1277 said:
    According to the webpage for the M&S foreign exchange page, you pay no fees and get 55 days interest free credit if you pay with the M&S credit card.

    Edited to add: I think I meant to write upto 55 days interest free credit.
    Plus you get a slightly better rate using an M&S card to purchase currency at an M&S bureau - if memory serves they want 2 forms of ID - that may now have changed, been a few years since I used them.

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