Always pay your credit card in the country's currency and not euro

Discussion in 'Overseas Travel,Holidays,Hotels & Airlines' started by Brendan Burgess, 9 Mar 2019.

  1. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    36,770
    I just booked flight from London to Dublin with Aer Lingus.

    The price was £81.99 and they very kindly offered me the choice of paying in euro at €99.51 which I declined.

    It has hit my credit card at €95.93.

    I don't know why large companies don't offer their customers fair rates or else just not offer the option of paying in the local currency.

    It's the same with car hire companies and petrol - they try to catch you out with their exorbitant rates for refueling.

    Brendan
     
  2. RedOnion

    RedOnion Frequent Poster

    Posts:
    2,574
    Hi Brendan,

    I read the title as the opposite of what you're saying?
    Amazon is a great example of this. They have the scale to offer market rates with a tiny margin, but don't.
     
  3. suzie

    suzie Frequent Poster

    Posts:
    483
    Brendan... Surprise you aren't using revolut for such transactions?
     
  4. Protocol

    Protocol Frequent Poster

    Posts:
    2,842
    Title of post should be reversed.

    You should pay for flight in GBP and then let CC apply exchange rate.

    Even better, use Revolut, and avoid 1.75%-2.65% commission.
     
  5. Protocol

    Protocol Frequent Poster

    Posts:
    2,842
    Title of post should be-

    When abroad, and paying by CC, choose to pay in local currency, don't accept offer from merchant to pay in your home currency.
     
  6. Gordon Gekko

    Gordon Gekko Frequent Poster

    Posts:
    3,405
    Yes, pay in the local currency and let your bank do the conversion.
     
  7. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    36,770
    Oops.
    Title corrected.

    Brendan
     
  8. Gordon Gekko

    Gordon Gekko Frequent Poster

    Posts:
    3,405
    Retailers should be restricted to a maximum margin on the FX and should be obliged to clearly disclose their margin.
     
    CiaranT and DeeKie like this.
  9. newirishman

    newirishman Frequent Poster

    Posts:
    756
    I disagree. Caveat empor and all that. If you decide to buy stuff from a non-Euro country and ask the retailer to take Euro, the retailer first off all isn’t required to entertain your business (and take Euro), and certainly shouldn’t be forced on a max margin. What would be your basis for this?
    Who should decide what an appropriate margin is for my business?

    Stop buying in non Euro countries and you have no quarrels.
     
  10. Gordon Gekko

    Gordon Gekko Frequent Poster

    Posts:
    3,405
    Because in my experience (observed rather than personal), retailers are effectively tricking people.
     
  11. Palerider

    Palerider Frequent Poster

    Posts:
    1,212
    I buy my coal from a supplier in NI, I have the choice of paying in stg or euro with my credit card, I opted for sterling and the conversion was €16 more than if I had opted for Euro, that's a free 40kg bag, huge.
     
  12. mtk

    mtk Frequent Poster

    Posts:
    446
    yes I think this is fairly well known by now.
     
  13. mathepac

    mathepac Frequent Poster

    Posts:
    6,611
    Other than the massive margins demanded by Irish retailers, the poor after-sales service, the ridiculously long delivery times with no tracking facilities, the unmanned phone-lines and unhelpful web-sites, you're probably right.

    I can buy from the UK, pay UK£20 for delivery (22kg package) and have the item delivered within a specified 4-hour window on the 3rd day from my payment clearing. Computer parts priced at UK£550. My potential Irish supplier's price was €947, plus €25 delivery charge and 5 to 7 day delivery time-frame. Similar stories sourcing stuff from the US.

    I took me a while to figure out why Dunnes and Musgraves source so much of their prepared and baked foods from UK sources. I can only surmise their experiences mirror mine.
     
    RETIRED2017 likes this.
  14. Firefly

    Firefly Frequent Poster

    Posts:
    2,949
    Hi Brendan,

    Was that a rip-off? :D

    Firefly.
     
    Purple likes this.
  15. DeeKie

    DeeKie Frequent Poster

    Posts:
    280
    This is spot on. It drives me nuts.