Quizzes & Puzzles2 mins ago
Using Credit Cards in the EuroZone
2 Answers
When holidaying in Europe and you make a purchase on your credit card and you have the option to pay in Sterling or in Euros, which one should you choose to get the better deal?
Answers
1 to 2 of 2
Best Answer
No best answer has yet been selected by the new blue. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
If I’m abroad spending on plastic & they offer to let me pay in pounds, is it worth it?
A. No. This is called dynamic currency exchange, and should be avoided. Often the rate you get will be appalling and someone’s making big money out of it. If you’ve got one of the specialist overseas cards you’ll get a much better rate paying in the foreign currency not pounds. And even if you’re using a normal card as you’ve no idea of the relative exchange rates they could be playing you for a fool; so it's always best to stick with paying in the foreign currency.
If you're travelling to Spain, be especially careful. Some Spanish banks, particularly giant Santander, have started to ask UK cardholders if you want to have your money converted into Sterling when withdrawing Euros from ATMs. Always say No; the rate you'll get is often much worse than the rate you’d be given by your own plastic provider when it converts Euro withdrawals, although the exact rates depend on which plastic you're holstering.
http://www.moneysavingexpert.com/travel/cheap-travel-money#topcards
A. No. This is called dynamic currency exchange, and should be avoided. Often the rate you get will be appalling and someone’s making big money out of it. If you’ve got one of the specialist overseas cards you’ll get a much better rate paying in the foreign currency not pounds. And even if you’re using a normal card as you’ve no idea of the relative exchange rates they could be playing you for a fool; so it's always best to stick with paying in the foreign currency.
If you're travelling to Spain, be especially careful. Some Spanish banks, particularly giant Santander, have started to ask UK cardholders if you want to have your money converted into Sterling when withdrawing Euros from ATMs. Always say No; the rate you'll get is often much worse than the rate you’d be given by your own plastic provider when it converts Euro withdrawals, although the exact rates depend on which plastic you're holstering.
http://www.moneysavingexpert.com/travel/cheap-travel-money#topcards
1 to 2 of 2
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.