Fee Free Cards: Interbank vs Mastercard rate

DistortedVision

I just bought a watch on Jomashop. I tried to use my Revolut card which is my default card for purchases in foreign currencies. But it said that there was a fair usage fee of 1% as I had gone over the £1000 monthly threshold.

So I used my Sterling Bank card. The spot rate was $1.26511 but the rate Sterling used was $1.2559. This meant it cost £476.03 instead of £472.57. Usually the difference between what I pay and the spot rate conversion is a few pence and always under £1 even on large purchases using Revolut. I know the difference in this case is only £3.46 and it may seem like I'm splitting hairs.

But I'm wondering if there are any other fee free cards that use the Interbank rate. I currently have Sterling, Monzo and Chase cards which all use the Mastercard rate. I was wondering if there is another fee free card like Revolut which is a VISA card and uses the Interbank rate?

Many thanks!

DullGreyGuy

Barclaycard's fee free offering is Visa but it will use the Visa FX rate. Most seem to claim that Mastercard is generally a few bps better exchange rate than Visa. 

charliemse

Try currensea, the Premium Card is 0% 

PRAISETHESUN

charliemse said:

Try currensea, the Premium Card is 0% 

This is an older thread you've replied to, just FYI.

And even a 0% fee card will still have to decide what exchange rates they will use to do the currency conversion. In my experience Mastercard is slightly better than Visa, but it's less than 1% most of the time. The day-to-day variation of the exchange rates between making the payment and the transaction actually clearing tends to give more variation then that.

friolento

IIRC, Wise use Interbank rate though there might be a fee on top

gt94sss2

The Trading 212 debit card

https://www.trading212.com/cards