Spanish banks and currency conversion
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Chomeur
Posts: 2,132 Forumite
in Credit cards
Twice on a recent trip to Spain I paid with my credit card, selected to pay in euros and then received a receipt showing the transaction currency in GBP with the statement "I have chosen not to use the MasterCard currency conversion services and agree that I will have no recourse against MasterCard concerning the currency conversion or its disclosure". I decide for myself what I agree to - it's not for a bank to tell me what I'm agreeing to after the transaction. In each case the bank has helped itself to about £5.
This really annoys me, and of course it's not worth the time it will take to complain. Is it better just to withdraw cash when in Spain and pay with that? What other countries have this shabby scheme apart from Spain?
This really annoys me, and of course it's not worth the time it will take to complain. Is it better just to withdraw cash when in Spain and pay with that? What other countries have this shabby scheme apart from Spain?
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Comments
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It is not the banks IMO but the merchants - who get away with a lot.0
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This is now common practice in Spain, but against regulations. If your choice to pay in euros was ignored, or the choice not even given, you can ask your card provider to refund the difference involved. There is a reference code to quote in case of staff ignorance, which I don't have handy, somebody may. They may actually chargeback the merchant, but unfortunately don't usually bother.Evolution, not revolution0
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Actually I have email addresses for both merchants so I'll try contacting them first. Easier than dealing with my bank (Halifax) with whom I will have to deal with the phone system, fill out a form and wait an eternity. I currently have a request for a chargeback with them which they've been sitting on without response for two months.0
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jonesMUFCforever wrote: »It is not the banks IMO but the merchants - who get away with a lot.
But they gave me the option to select euros on the terminal, which I did. So surely it's not in the hands of the merchant to override this?0 -
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But they gave me the option to select euros on the terminal, which I did. So surely it's not in the hands of the merchant to override this?
https://forums.moneysavingexpert.com/showthread.php?t=56779650 -
jonesMUFCforever wrote: »What does your receipt show?
Beyond what I mentioned in the intial post it says
"Transaction Currency
GBP 105.40
111 euro"
One of the companies has now responded to me saying that there is nothing they can do about it and that in future I should just pay in cash! Shame they couldn't have told me before. I think a bad review is coming their way.0 -
Beyond what I mentioned in the intial post it says
"Transaction Currency
GBP 105.40
111 euro"
One of the companies has now responded to me saying that there is nothing they can do about it and that in future I should just pay in cash! Shame they couldn't have told me before. I think a bad review is coming their way.
Sorry then but you have signed /entered a PIN to pay in GBP and not Euro.
It might not be what you wanted or thought you paid for.0 -
jonesMUFCforever wrote: »Sorry then but you have signed /entered a PIN to pay in GBP and not Euro.
It might not be what you wanted or thought you paid for.0 -
jonesMUFCforever wrote: »Sorry then but you have signed /entered a PIN to pay in GBP and not Euro.
It might not be what you wanted or thought you paid for.
No, the receipt is simply not a reflection of what I entered. So it seems the best thing is just to pay in cash in future. Or I suppose I could take a video of the terminal as I enter my details in order to prove that I selected euros. That would seem ridiculous but if it was a big amount like €1000 it would actually make sense.0
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