$/£ Credit Card Coversion rate

[Mpet]

Hi

I am thinking of pre-purcahsing some passes direct from the US.

When the charge hits my credit/debit card, what rate is used for the conversion. Is it the Tourist Rate or the 'business' rate or another rate?

Does it depend on the Bank/Credit Card Company and is the rate that is applied the one that was current on the day of the purchase, or when the charge hits my account?

I hope there are some banking experts out there

Thanks

Maxine

 

[Lobey]

Hi Maxine,

The exchange rate used will be based on the business rate on the day the purchase hits your credit card account. However, the credit card companies (rather sneakily I feel) will take a 1-2% commission on each transaction although they never show this on your statement - all you will see is an exchange rate that is 1-2% less than the business rate for that day.

Paul

 

[kylie]

Nationwide`s credit card have no transaction fee.

I pay regular amounts to the US and used to use my barlaycard, after changeing for a while I have noticed a big differance, even allowing for the exchange rate