Do all credit cards charge currency commission?
Tarbster asked:
I was surprised to see a Forex charge against every payment I had made on my Goldfish Mastercard on a trip to France. I don’t remember seeing this in the past… do all credit card providers do this now?
I was surprised to see a Forex charge against every payment I had made on my Goldfish Mastercard on a trip to France. I don’t remember seeing this in the past… do all credit card providers do this now?
Most of them do,one way or another
Goldfish has been taken over by Barclaycard so you now get ripped off the same way that Barclays customers do. You get a charge and a commercial exchange rate. Previously, under Goldfish, you got a tourist rate which means a charge of about 5% was built into the exchange rate.
If you have a Nationwide Credit Card, there’s no commission and balances are converted at a commercial rate. If you have a Nationwide Debit Card, you can draw cash out of foreign ATMs on the same basis.
To the best of my knowledge, yes they do.
Plus the issuing bank’s charges!
Yes, apart from the new Prepaid Currency card by Mastercard and FairFX.
It is a top up card preloaded in USD or Euro and therefore does not charge commission when you withdraw.
However, check the small print as fees are charged on other transactions.