Best exchange rates

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  • Recordman
    Participant

    Regarding charging credit cards in ‘your local currency’ I couldn’t agree more Tim2sms! It especially annoys me when I have not been given the option and my card has been charged in GBP. I have had this happen in Spain and recently in Tasmania and when I challenged the retailers I was told that they weren’t given the option, which is total codswallop.

    It has also happened to me when I have made internet overseas hotel bookings where the deal is ‘prepay, no refund’ and my card has been charged in GBP.

    Dynamic Currency Conversion they call it and it should be banned!


    NTarrant
    Participant

    Quite agree Recordman, I think that they like to try and give a “wow” factor and catch unsuspecting, usually, tourists out. When I checked out at a hotel in HKG recently, they took the charge I had to pay in sterling and it was £8.43. I handed the receipt back and asked to be charged in HKD, which was done with out question. When my bill arrived I was charged £8.24. A matter of pence in this case but could have been pounds!


    PatJordan
    Participant

    NTarrant makes a good point: there is little difference in the amounts he mentions, but it is really a matter of principle. However, a differential in excess of 2% is significant when applied to a large amount. Just imagine a profit margin increase of 2%….the bean counters would jump for joy.

    Wasn’t there an old saying “look after the pennies and the pounds look after themselves”??

    OK, I know I’ve gone away from the main thread here, but I wanted to make this point before anybody criticised his post.

    Pat.

Viewing 3 posts - 16 through 18 (of 18 total)
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