Re: Credut Card paying for holiday direct with US firm in dollars

Unless Barclays are being really sneaky the 2.75% is the adjustment
they make to the Visa/MasterCard exchange rate - they're just spelling
out how much they load the exchange rate in their favour. My
understanding is that the V/MC exchange rate is pretty close, if not
equal, to the wholesale/corporate exchange rate.

Ian

Alan wrote:
> Morning
>
> I wonder if I may pick the brains of my learned friends lurking on this
> group :-)
>
> I currently have a Barclaycard Platinium the balance of which is paid
> off in full each month. I also (for my sins bank with Barclays).
>
> I am looking to book over the Internet a holiday with a firm based in
> Jackson Wyoming USA (Trekking holiday approximately $1600) and also buy
> a flight ticket on line from Continental Airways (US based
> carrier)approximately =A3670 sterling.
>
> The Trekking trip will be paid for in US dollars. As I have a UK address
> Continental will charge me in =A3 sterling (no dollar prices quoted).
>
> I have two concerns.
>
> One
>
> I will be paying in advance. Normally if booked with a UK supply the
> travel agent will be bonded (ATOL, ABTA etc)
>
> Barclaycard tell me I will be covered if the firms become insolvent and
> even advised they would liaise with the appropriate body. I am
> suspicious as this would involve them becoming involved in a foreign
> jurisdiction.
>
> Two
>
> The fees charged by the banks on foreign currency transactions - 2.75%
> has been mentioned. Are there any ways to mitigate or avoid this charge?
> I always thought that the firms made their money by offering a lousy
> exchange rate loaded in their favour. Presumably they do both now!
>=20
> Many thanks in anticipation.
>=20
> Cheers
>=20
> Alan

Re: Credut Card paying for holiday direct with US firm in dollars

To avoid the charge, get a Nationwide or (Europe only) Liverpool
Victoria card.

What the banks have done - whether in response to regulatory pressure I
don't know - is become more open about their charges. They used to bury
a 2.75% charge in the exchange rate and not tell you about it, other
than maybe in the small print of the T&C. They now charge the 'right'
exchange rate, but levy a 2.75% charge. You are no better, no worse
off.

What it has caused is much wailing and gnashing of teeth amongst the
financially challenged who see the 'new' charge and have either
forgotten. never knew, or refuse to accept that the charge has always
been there just because it didn't appear on their statements.

Re: Credut Card paying for holiday direct with US firm in dollars

wrote:
> To avoid the charge, get a Nationwide or (Europe only) Liverpool
> Victoria card.
>
> What the banks have done - whether in response to regulatory pressure I
> don't know - is become more open about their charges. They used to bury
> a 2.75% charge in the exchange rate and not tell you about it, other
> than maybe in the small print of the T&C. They now charge the 'right'
> exchange rate, but levy a 2.75% charge. You are no better, no worse
> off.
>
> What it has caused is much wailing and gnashing of teeth amongst the
> financially challenged who see the 'new' charge and have either
> forgotten. never knew, or refuse to accept that the charge has always
> been there just because it didn't appear on their statements.
>

Re CCA protection on purchases from abroad found this information which
may be of interest here


cheers

Alan