tickets and exchange rate

[debbyLL]

i have just received our tickets 5day plus from undercover tourist as i posted previously and today i got cc statement and the exchange rate was 1.55 not 1.6 as on the currency converters can anyone explain why. i would have been better getting from keith prowse at this rate, i was going to buy direct from dc but wonder whether just to go to keith p for this

 

[amf]

Hi Debby......most UK CCs charge a foreign currency loading, typically around 2.75% This is not shown in your CC statement as a separate charge; instead the exchange rate is supressed to take this in to account. The net effect of this is that effectively you get near enough the tourist rate of exchange (i.e. the market rate loaded as above).

Happily there are half a dozen or so CC issuers which do not apply this foreign currency loading. The best known of these is the Nationwide So get yourself a Nationwide CC and save yourself some dosh.

Have a great holiday

Alex

 

[steve_rob]

I learnt this to my peril. Never rely on the online currency converters if you want an accurate figure, as they only ever quote the market rate, which you will never get either when you convert your money or use your CC.

What I do is look at the rate on the Travelex website (whether I'm ordering my currency through them or not) and this usually turns out to be a far better reflection of the tourist rate.

http://www.travelex.co.uk/personal/rateslist.asp?content=rtl