The worst ‘paying in pounds abroad’ rip-off I’ve seen – where £160 of cash costs £190

"The worst ‘paying in pounds abroad’ rip-off I’ve seen – where £160 of cash costs £190"


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  • malkie76malkie76 Forumite
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    How is this a rip off ? Your own bank absorb the costs of transfer, where as the Greek bank (whom you have no relationship with) charge a poorer exchange rate to cover their costs.
    Legal team on standby
  • malkie76 wrote: »
    How is this a rip off ? Your own bank absorb the costs of transfer, where as the Greek bank (whom you have no relationship with) charge a poorer exchange rate to cover their costs.

    Really?


    ......
  • Roger1Roger1 Forumite
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    At least you had a clear choice. In Switzerland the default option often seems to be the DCC shame where it can be difficult to change.

    I wanted to use my new SuperCard to pay the (grand sum of) 4 CHF on the car park machine. DCC was the only immediate option and 3.20 GBP was the converted amount. It took a while to get the CHF option. In the end, SuperCard's conversion was 3.02 GBP, suggesting the DCC premium was 6%.

    (Yeah, yeah. Using a card to pay 4 Swiss francs is not a big deal but I wanted to use my shiny new Supercard. :))
  • Former_MSE_AndreaFormer_MSE_Andrea Former MSE
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    If you're going on holiday abroad this summer and take money out show us your rates!
    Could you do with a Money Makeover?


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  • Roger1Roger1 Forumite
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    Roger1 wrote: »
    I wanted to use my new SuperCard to pay the (grand sum of) 4 CHF on the car park machine. DCC was the only immediate option and 3.20 GBP was the converted amount. ... In the end, SuperCard's conversion was 3.02 GBP, suggesting the DCC premium was 6%.
    Checking my credit card account, I see that four days later they took an additional 7p described as 'Supercard: IC CASH 01'. This makes the total £3.09 for CHF 4, so making the apparent DCC mark-up about 3.6%.

    There's no mention of the surcharge or amendment in the SuperCard account on my mobile. :(
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