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can someone explain the 2.99% non sterling fee

Does this mean everytime I pay with my card abroad I will be charged 3% on top.. so I pay for something that is 20 EUR and get charged 0.60 EUR on top??
Reply 1
Avatar for Ronove
Ronove
18
Original post by OHNOGEM
Does this mean everytime I pay with my card abroad I will be charged 3% on top.. so I pay for something that is 20 EUR and get charged 0.60 EUR on top??

Some places allow you to choose what currency to pay in with your card. I wouldn't have thought the non-sterling fee would apply if this was offered to you and you chose sterling. However I can't remember if that was the worse way round to do it or not.
Reply 2
Avatar for OHNOGEM
OHNOGEM
OP
15
Original post by Ronove
Some places allow you to choose what currency to pay in with your card. I wouldn't have thought the non-sterling fee would apply if this was offered to you and you chose sterling. However I can't remember if that was the worse way round to do it or not.


I'm going to the Netherlands so I think there's a definite non sterling fee charge
Original post by OHNOGEM
Does this mean everytime I pay with my card abroad I will be charged 3% on top.. so I pay for something that is 20 EUR and get charged 0.60 EUR on top??


Yes, that will be correct I'm afraid.

You might find the information here useful: http://www.moneysavingexpert.com/travel/cheap-travel-money :smile:
Reply 4
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OHNOGEM
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15
Original post by Illusionary
Yes, that will be correct I'm afraid.

You might find the information here useful: http://www.moneysavingexpert.com/travel/cheap-travel-money :smile:


That isn't that bad considering it would take 16-17£ out of the bank after the conversion. And if I spend £ 100 then only 3£ is of charges
Original post by OHNOGEM
That isn't that bad considering it would take 16-17£ out of the bank after the conversion. And if I spend £ 100 then only 3£ is of charges


Indeed... it could certainly be a lot worse :yep:
Reply 6
Avatar for Reue
Reue
20
Original post by Ronove
Some places allow you to choose what currency to pay in with your card. I wouldn't have thought the non-sterling fee would apply if this was offered to you and you chose sterling. However I can't remember if that was the worse way round to do it or not.


Standard advice is to always pay in local currency if offered. The reason being that if you choose sterling it will use the shop's own conversion rate, likely to be higher then that of your bank.
Reply 7
Avatar for Mechie
Mechie
15
Original post by OHNOGEM
That isn't that bad considering it would take 16-17£ out of the bank after the conversion. And if I spend £ 100 then only 3£ is of charges


Yeah it's not that bad. You'd be charged for changing your £ into € cash at a bureau de change, so it doesn't really make much of a difference.
Reply 8
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OHNOGEM
OP
15
Original post by Reue
Standard advice is to always pay in local currency if offered. The reason being that if you choose sterling it will use the shop's own conversion rate, likely to be higher then that of your bank.

What?? I thought the 2.99% charge was the conversion fee? Why would the shop and the bank charge for the same thing?
Reply 9
Avatar for Reue
Reue
20
Original post by OHNOGEM
What?? I thought the 2.99% charge was the conversion fee? Why would the shop and the bank charge for the same thing?


Because the shop will request the money from your bank in sterling. So you would not get charged conversion fees from your bank.
Reply 10
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OHNOGEM
OP
15
Original post by Reue
Because the shop will request the money from your bank in sterling. So you would not get charged conversion fees from your bank.


What? So my bank won't charge me the conversion fee but the shop will and their conversion fees vary?
Reply 11
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Reue
20
Original post by OHNOGEM
What? So my bank won't charge me the conversion fee but the shop will and their conversion fees vary?


Yes
Reply 12
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OHNOGEM
OP
15
Original post by Reue
Yes


Then why do my bank say they'll charge a 2.99% conversion fee from my bank account when I purchase things outside UK, if it's a lie :s
Reply 13
Avatar for Reue
Reue
20
Original post by OHNOGEM
Then why do my bank say they'll charge a 2.99% conversion fee from my bank account when I purchase things outside UK, if it's a lie :s


Because usually you will be doing a conversion through your bank.
Reply 14
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OHNOGEM
OP
15
Original post by Reue
Because usually you will be doing a conversion through your bank.


But not in shops?
Reply 15
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Reue
20
Original post by OHNOGEM
But not in shops?


Not in some shops if they offer you the opportunity to pay in sterling and you accept.

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