cards abroad

Nationwide

Nationwide debit card for cash withdrawls and their credit card for purchases,

Daniel

And make sure the retailer doesn't convert the currency at the POS - you get a crap rate (much worse than Nationwide's). This is becoming increasingly common, especially in Ireland. No retailer should do this without your consent, if they do, refuse to sign the slip or demand a chargeback.

"Andy Pandy" wrote in message news:413b024c$0$936$ snipped-for-privacy@ptn-nntp-reader03.plus.net...

Yes, and it's called 'dynamic currency conversion'. Most likely at places used by lots of overseas visitors, such as hotels, car hire and souvenir shops. Unlikely at petrol stations, supermarkets (Tesco and Dunns Stores - major Irish chains) and ordinary shops. If in doubt, always say you want to be charged in euro when handing over your card. Happens at Harrod's in London.

Alec

sorry if I seem a bit dim but could you give me more info on this 'dynamic currency conversion' how do you know when they are doing this ( I presume they tell you the amount in sterling rather than local currency)

TIA

In message , Alec writes

Does that mean if you ask to pay in a currency other than sterling? Or are your cards denominated in another currency, such as euros?

I believe what happens is that the POS terminal detects that your card is foreign (don't know how, perhaps from the first part of the number). It then offers the retailer the choice of billing you in the local currency, or billing you in your home currency (converted at an unfavourable rate).

The retailer is supposed to check with the customer before converting the currency, but apparently in practice they often don't. AIUI they get a cut of the commission built into the exchange rate, so it's in their interest to convert the currency. The customer will then get a slip to sign with the amount in their home currency.

The customer is under no obligation to accept this "helpful" currency conversion. If you contract to buy a product or service priced eg at 100 Euros the retailer is not entitled to suddenly change the price at the POS to 70 or $120, or anything else, without your consent.

cheers, don't miss a trick do they? you may well of saved me a lot of money

Tracy

"Andy Pandy" wrote in message news:413b6a14$0$8507$ snipped-for-privacy@ptn-nntp-reader03.plus.net...

A similar kind of trick has been going on for years with hotels in some countries. They quote their room rates in US$, but when you check-out they try to convert the US$ price to local currency at some extortionate exchange rate. If you question it they claim they're unable to charge credit cards in anything except local currency. I think the only way around it is to carry a supply of US$ cash and insist on paying only the originally quoted price in US$.

Chris

If you are an overseas visitor, your card is likely to be billed in your home currency and Harrods can convert the purchases for you from sterling, signing the slip in your billing currency. If you have a UK card, nothing changes.

Alec

I've just had an example of this one being tried on.

I used my Nationwide Visa card to pay a hospital bill in Thailand, and the voucher they presented me with showed the total of 1,250 Thai Baht converted to the sterling amount of £17.25. I told them I wanted to pay in local currency so they voided the transaction and gave me another voucher for just the amount in local currency.

That transaction has just appeared on my Nationwide account billed as £16.65.

Chris