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buying euros on a credit card in uk
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sashascott
Posts: 3 Newbie
in Credit cards
this is my first post so hope you can help! My dad just bought Euros in Tescos using his Alliance and Leicester credit card. He spent over £2000 to buy Euros to pay for a holiday. He then discovered that the Alliance and Leicester charged him £40 for doing this. Is this right? it seems it was just because he bought cash, had he bought an item he would not have been charged. any suggestions how we could get the money back.thanks
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It's classed as a cash advance and he'll be paying interest on it daily as if he'd gone to a cashpoint and withdrawn money. No way of getting the charges back - it's all in the terms and conditions of the card.0
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It would have been nice if they had warned him that it would be a cash advance on his card (expensive) and given him the chance to use something else (like a cheque).0
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my mistake, it was his debit card that he used. there was no credit involved. So he used his own money but payed using his debit card to save carrying the cash around and got charged because they said it was like withdrawing cash from abroad!!! it was Tescos in sussex...not abroad!0
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It is correct, it is the Visa cash advance fee. Why on earth did he need that much in cash before travelling. Unless he needs a large amount of cash on arrival, it would be cheaper and more secure to use his card abroad, and quite possibly cheaper too.0
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he needed it to pay for the accommodation on arrival. does that mean it was Visa that charged him and not the Alliance and Leicester?0
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Its a sting alright, but the charge will be A&L rather than the currency shop so the shop won't have the information to inform the customers of how the bank will treat the transaction. Its not standard across cards.
Your dad can argue the t0ss and hope goodwill will see a refund. He can switch to the nationwide where I believe the deal is clearer and better for next time, if he's unhappy.
It's always worth arguing the t0ss. Don't ask don't get.I wonder why it is, that young men are always cautioned against bad girls. Anyone can handle a bad girl. It's the good girls men should be warned against.-David Niven0 -
The charge is from A&L, in general avoid buying travel money with VISA debit cards, as most with the exception of nationwide charge. Maestro cards do not. I understand if he needed to pay for the accommodation on arrival in cash that he needed the cash, so it may just be one of those things.
You could ask A&L for the charge back, but they have no real reason to return it as the details are in the T&C of your current account.
On another note. it is unlikely that your Dad's travel insurance covers cash up to €2000, he needs to bear this in mind! If the accommodation owner does not accept cards, he could ask to pay in € travellers' cheques, these can be banked by anyone as cash once signed.0
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