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Electron Card Information & Discussion: (Merged Threads)
Lloyds TSB (amongst others, but I can quote them since I just read the stuff for my account) charges 2.5% with a minimum charge of £2 and a max of £4.50 for overseas or transactions in foreign currency.
Most if not all banks who charge for such things have a minimum charge.
The Lloyds TSB Current account charges page states there’s a 2.75% non-sterling currency charge. This applies to both to purchases and getting cash using the Visa part of the card. On top of that, there is a fixed £1 charge for purchases. Getting cash, or things like cash, attracts a different charge. This is the one that’s between £2 and £4.50. It’s the thing that catches people out when they buy currency at a UK bureau de change. The currency conversion is performed by the bureau de change, but, although the card is charged in sterling, it still attracts this charge for cash.
The Co-operative Bank’s Cashminder Account, for example, doesn’t have any extra fixed charge for non-sterling purchases. So, there’s just the 2.75% currency charge. So, you really do need to check the exact charges for an account.
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