Fees for Foreign Currency - Help Required

Like_Saving_Money!!!

:mad: I have recently purchased £500 worth of foreign currency using my Alliance and Leicester Debit Card.
I was astounded to find that they have charged me £7.50 in fees for a foreign currency transaction.
If I had known, I would have simply withdrawn the money in cash and paid that way.
Does anyone know if this is usual and if there is anyway I can get a refund. So far the only response I have had is that the fees are stated in the account terms and conditions and therefore they are not able to offer a refund.

Absolutely bloody fuming at being charged for taking my OWN MONEY out of MY ACCOUNT:mad: :mad:

Brooker_Dave

Like_Saving_Money!!! wrote: »

:mad: I have recently purchased £500 worth of foreign currency using my Alliance and Leicester Debit Card.
I was astounded to find that they have charged me £7.50 in fees for a foreign currency transaction.
If I had known, I would have simply withdrawn the money in cash and paid that way.
Does anyone know if this is usual and if there is anyway I can get a refund. So far the only response I have had is that the fees are stated in the account terms and conditions and therefore they are not able to offer a refund.

Absolutely bloody fuming at being charged for taking my OWN MONEY out of MY ACCOUNT:mad: :mad:

Did they not just provide a service and you pay for it?

SaraSeahorse

where did you get the currency from?


reminds me of the nationwide advert about using the fees to buy the shareholders bubbly

C_Ronaldo

OP you've posted this on 2 different boards, ive replied to the other thread

Like_Saving_Money!!!

SaraSeahorse wrote: »

where did you get the currency from?


reminds me of the nationwide advert about using the fees to buy the shareholders bubbly

Got it from a company called Travelex at Heathrow Airport. No problem with them, its my bank that have put the charges on!!

Like_Saving_Money!!!

Brooker_Dave wrote: »

Did they not just provide a service and you pay for it?

I got the currency from a company called Travelex at Heathrow airport. Can't see what service my bank provided me with. I don't get charged by taking my money out of an ATM.
I could have as easily taken the cash out of an ATM and paid for my currency in that way.
Just looked at the T & C's and the comments about charges is hidden on Page 14 of 28!!!! stating that fees MAYBE charged for foreign currency.

Rex_Mundi

You should have read Martins article Foriegn Currency, How To Get The Cheapestt first. The article also includes a link to the MSE Travel Money Maximiser.

quoted from the article.......................

The worst thing to do is wait until the airport

Exchange rates at airports are very poor. This is quite deliberate as you're trapped in a closed environment; if at all possible avoid getting your currency from there. This applies even to bureau de change companies that have branches outside airports too - their airport rates will be lower.

KILL_BILL

should have got it from the post office

some case they charge a commision fee for providing foreign currency which should have been equated into the total amount that you paid and not as a seperate charge.

dmg24

How much bad information on one thread?!!

If you refer to the t&c's of sale (as you always should) you will read the following:

Credit/Debit cards may be subject to a cash advance fee made by the card issuer. We have no control over and are not liable for such charges.

Nothing to do with a commission fee, and you will be charged it irrespective of whether you buy from the Post Office, Travelex or any other other FEX.

Buying from the airport it not always the worst option. If you pre order currency from Travelex, they will pricematch the best available rate, so making it the best option.

You are correct, you would not have been charged this amount had you withdrawn the cash first and paid this way, you would not have been charged.

A lesson learned for next time?

Rex_Mundi

dmg24 wrote: »

Buying from the airport it not always the worst option. If you pre order currency from Travelex, they will pricematch the best available rate, so making it the best option.

Maybe a good idea for the Site Feedback: Questions and Suggestions board. If you bring this to Martins attention he can take this into account when he next updates the article.