EvilDoctorK
Registered User
- Messages
- 1,014
.. they seem to charge a spread between forex purchases and refunds
One to watch out for ..
e.g. I rented a car in the UK recently and a GBP400 deposit was taken on my card (I don't know why they process the transaction .. most companies just put a hold on the card for the deposit amount.. but for some reason Enterprise car rental always do this charge & refund in 2 transactions that actually post)
On the Friday the charge was processed
GBP400 @ .674222 = €593.28
And on the Monday the card was refunded
GBP-400 @ .704697 = €567.62
Needless to say the actual exchange rate changed very little between the monday and the friday (a 4% swing in EUR/GBP exchange rate in 3 days wouldn't be a good thing!) .. the difference is purely their spread (2% either side it seems)
So it cost me €25 for nothing effectively ... not a rip off or anything as I'm sure it's covered in their Ts&Cs ... but just an observation and one you might want to watch out for - I'd certainly never thought of it before.
One to watch out for ..
e.g. I rented a car in the UK recently and a GBP400 deposit was taken on my card (I don't know why they process the transaction .. most companies just put a hold on the card for the deposit amount.. but for some reason Enterprise car rental always do this charge & refund in 2 transactions that actually post)
On the Friday the charge was processed
GBP400 @ .674222 = €593.28
And on the Monday the card was refunded
GBP-400 @ .704697 = €567.62
Needless to say the actual exchange rate changed very little between the monday and the friday (a 4% swing in EUR/GBP exchange rate in 3 days wouldn't be a good thing!) .. the difference is purely their spread (2% either side it seems)
So it cost me €25 for nothing effectively ... not a rip off or anything as I'm sure it's covered in their Ts&Cs ... but just an observation and one you might want to watch out for - I'd certainly never thought of it before.