A word of warning........

[Wellard Stallard]

If anyone is thinking about buying foreign currency over the counter with a debit card think again!!!!!!! I purchased some currency a couple of weeks ago and at the weekend received my bank statement - I purchased the currency from the Post Office and I used my Abbey National debit card to pay - they charged 1.5% extra and put it down on the statement as a cash advance fee.

After several heated phone calls with the AN they said they charged it because I used my card to purchase cash and not goods (and that makes it alright!!!!!! not) they said it states in the terms and conditions that they can do that - I mean who reads the t & c ! Anyway I challenged them and asked for them to send the t & c to me and highlight where it states this. So now I am waiting. They did say they have had a lot of complaints about the fact they don't advertise these charges very well. (IM NOT SURPRISED!!!!) In my case it is a lesson learned - but what if I had 2/3 grand and wanted to change it - I wouldn't fancy walking around the town with that much cash. Sorry to waffle on guys but I wondered if anyone else out there has had the same problems as me. Incidentally I am going to get some more currency in a couple of weeks but I sure as hell won't be making the same mistake twice.

ttfn

 

[Muppet]

Thankfully I've always know but the only reaon I found out nwas years ago when a travel agent told me. It may be a debit card but it still uses the visa transaction system. Therefore it will classed as advance payment regardless of whether you have the full amount in the bank or not.

The post office should of told you.

 

[BevS97]

this happened to us as well - I can't see how it can be called a 'cash advance' when you are using a debit card! It's your money - not a loan!

I mean you could get the money out of your account, and walk to the Post Office and buy the travellers cheque's with the cash and they wouldn't charge you. But as you say - you don't want to walk around with all that cash in your pocket.

Bev

 

[GO2209]

The 1.5% fee must have been levied by the Post Office and not Abbey National? This must surely be the post offices fault for not recognising it as a debit card.

I can understand the PO charging a fee for a credit card transaction (as the provider - eg Visa - takes a ?% fee), but not on a debit card???

Just another thought - if a bit pedantic... If you wanted 2/3 grand and didn't fancy carrying the cash around - how would you get your foreign currency home

 

[ThumperThistle]

Thanks for the warning Paula. I knew there are extra charges using a credit card but not the debit card.

Keep fighting them,if it's the first problem you have had with A.N. and you are a good customer they may drop the charge to keep you.

 

[neilybealy]

i am a little concerned because i went in and bought £1500 worth of t/chqs from the post office (it worked out at £1495.19) on the slip i keep

i paid using my credit card as the lady said there was no extra charge

i've checked barclaycard online and the amount going through is £1495

i will keep checking to see if this changes

neil

 

[Muppet]

Just to clarify it is NEVER the shop or post office that charge the the fee it is always the card issuer.

I really doubt you will get your money back.

Neilybeily I would think you will have a charge.

The Post Office should tell you though.

 

[neilybealy]

the amount listed against outstanding authorisations is only £1495 so i'll have to keep my eye on it

 

[floridamum]

The post office do not charge a card fee, the fee is put on by your card issuer. My DD works for the post office and once ordered currency and her bank made a charge (which they later refunded).

 

[daywalker]

If you are taking the money directly from your account (debit card) why not check with your own bank what rates they are offering? I recently got some USD from the Halifax at a good rate + com free to their acc holders. The money was taken straight from my account.
I once ordered USD from MBNA credit card & they had an offere where they would refund the cash advance fee to you, the rate was a good com free one too.

 

[Jennie4647]

I got some Euros for our trip to Portugal a few weeks ago at the Post Office, they told me there was a charge if I used by credit card of 1.5% (I think that was the fee..) but no charge if I used my switch card, so I used my switch card. No problem. They should have told you at the post office.

Jennie

 

[Wellard Stallard]

Thanks for the input guys (especially GO2209 - I didn't think of that doh!! I am a woman after all lol) What annoyed me as well I called into the bank first to check with them and they told me it was the Post Office at fault - I went to the PO and they insisted it was the AN - so back again I went like a flaming yoyo. Anyway finally the AN confirmed it was them that made the charge but I got no apology - although as some of you said the PO should have informed me that there could have been a charge - anyway like I said it won't happen again. I can't believe some of these banks and building societies they try to extract every last penny from you it makes me sick.

Still I am still going to go on my jolly hols and not give it a second thought LOL

thanks everyone

ta ra

 

[neilybealy]

just spoken to barclaycard

i am going to be charged 2% of the transaction

ie £29.90 as a cash handling charge

just been told it's quite clear in the terms and conditions that this is the case

i am going to speak to the post office as barclaycard said they should have told me i would be charged

 

[Mrs Dazzle]

Phew - last week when I just happened to pass the post office and saw good $ rate, popped in to see if I could "buy" £500 worth with my switch card - the post office told me my bank (Barclays) would probably charge me 1.5% because I'd be "having a cash advance" Uh??

Anyway, fortunately bank was only up the road, so popped in, asked them - they said no - but just to be on the safe side took £500 cash out and paid post office with cash.

Thanks for letting me know, cos I dare say Barclays wouldn't have held back on the excuse of charging me 1.5% for the priviledge of taking money out of my own account

 

[neilybealy]

what a saga this is turning out to be !!!

barclaycard said they would refund the cash handling charge if the post office refunded the amount back to the card - i told them i would rip up the card and use my nationwide card

i then spoke to the post office and they said they couldn't refund as they didn't make the charge - i said i know they didn't but barclaycard have agreed to refund the charge if the post office refunded the amount.....

we went round in circles for a while

sigh

so i spoke to barclaycard again and told them the PO wasn't prepared to refund and that i wished i had just used my nationwide card in the first place and i wouldn't have had this hassle

the wonderful lady said she would refund the cash handling charge when it appeared

thankyou very much barclaycard

 

[Muppet]

Well done Neilybeily. God to see barclays is at least trying.

However more often than not they tell you tough its in the term and conditions.

 

[BevS97]

Just another thought - if a bit pedantic... If you wanted 2/3 grand and didn't fancy carrying the cash around - how would you get your foreign currency home

Funnily enough, I'm quite happy to carry travellers cheque's probably because they can be replaced if they are stolen
which is why I buy them in the first place!

bev

 

[neilybealy]

Originally posted by BevS97
Funnily enough, I'm quite happy to carry travellers cheque's probably because they can be replaced if they are stolen
which is why I buy them in the first place!

bev

exactly !

 

[Wellard Stallard]

QUITE RIGHT TOO - THANKS FOR ALL YOUR REPLIES - I'VE CALMED DOWN NOW LOLLLLLLL

 

[kazzie]

Hi,

I have just left working in the FE at TC.

Just to confirm the charge levied for using a debit card is never from the company you bought the currency so from.So there no way for example the Post Office could refund money they haven't charged you! We always warned people when they use cards they are probably going to be charged by their card company (no charge for using Switch in TC though ).

I understand a credit card will charge as a cash advance but still don't understand why a debit card does, as you can draw for no fee

I got caught myself a couple of years ago and was charged by the Abbey National.I was going to fight it but didn't bother in the end,I put it down to experience