8884 Fees On Debit Cards In Italian Shops

PS I should add the card is UK Sterling and the company used charges no fees for purchasing euros.

Hi Turts

You would normally get a worse rate on the exchange and a fee @ 1.50gbp for using your card ..........

I don't see how anyone can give you meaningful advice when you haven't said what card(s) you would have access to (all card providers have different conditions, fees and rates for foreign payments and credit/debit cards are quite different in their performance too) nor have you said what approx rate the online place(s) you are considering will offer.

Suggest you check online rates available using this tool: [url=http://travelmoney.moneysavingexpert.com/]Cheap Travel Money: Get your foreign currency for less with the Travel Money Maximiser[/url] ...

and read this article [url=http://www.moneysavingexpert.com/cards/cheaper-spending-overseas]Spending Overseas: The cheapest way to pay...[/url] to see what various card companies charge & which are reccomended. Once you've done that you should be able to decide easily for yourself whether your existing cards offer a better deal or not.

Thank you Pigro. and will follow up your link shortly. I should have added it's VISA Debit

Why can't you pay with a Visa Credit...card? For such a small amount (yes it is when exchanging currency), there's very little difference in it...unless of course the retailer gives a discount for cash! Note: We have been following the currency conversion rates Euro/Sterilnig when paying by credit card, versus cash, for friends who come to stay and don't want to carry much money.

credit or debit isn't really the issue, just the terms of the specific credit (or debit) card you have or intend to apply for. These vary widely as most cards apply a loading charge of 2.75% above the money market rate and/or a flat fee per foreign transaction of about £1.50. Some cards (eg. Nationwide debit) don't cahrge either, making them much more attractive.

Yeah you do have to watch out - I use an amex card because of the airmiles but I noted this morning they had put their charge for overseas transactions up to 2.95%. I'm about to buy a new gas range and dishwasher and thats quite a big chunk extra.
Thanks Pigro for the link.

M

Hi Sally,

We just got a debit card through Charles Schwab (an discount investment firm in the US). As long as you open up a bank account with them, you can get a debit card which has no foreign transaction fee when buying euros. They also will reimburse any atm or other transaction fees up to $30.00 US per month. I would think something like this must exist in the UK.

Lisa

According to that article Pigro recommended for uk residents the post office credit card is the way to go as long as you pay off everything every month. No foreign currency loading at all. Am applying now!

Hi

Like Pigro mentioned the Nationwide card does not charge to use the card overseas and the same applies to our Bank HSBC, with the premier account. The exchange rate also seems to be a little fairer than most.

[quote=Aretina;83861]the same applies to our Bank HSBC, with the premier account. The exchange rate also seems to be a little fairer than most.[/quote]

Is that credit or debit card?

Hi Pas 55, sorry its a debit card. I can use this to withdraw cash, without a charge, from my uk HSBC account at any bancomat machine in italy or elsewhere worldwide.

If you take into account the charge made when the bank transfers money from our uk hsbc account to our italian bank then it seems good value,,,, but at the moment the way the pound is nothing seems like good value.. down at least 10% now since last year.

Why is no one in the UK and I mean the government as well making a fuss about this.

[quote=Aretina;83864]

Why is no one in the UK and I mean the government as well making a fuss about this.[/quote]

Maybe there going to mention joining the euro again.