Euros & Credit cards
Apr 28th, 2007, 02:45 PM
#1
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Euros & Credit cards
We normally don't carry too much cash when traveling, opting to use more credit cards and visit ATM's every few days or so to replenish our cash/euro's. Will this be difficult in Ireland? How convenient are ATM's?
Do most Pub's accept credit? Are certain credit cards more acceptable than others?
Thanks for any advice.
Do most Pub's accept credit? Are certain credit cards more acceptable than others?
Thanks for any advice.
Apr 28th, 2007, 04:09 PM
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...and watch out for the Dynamic Currency Conversion, where the merchant does the 'favor' of converting your purchase to your country's currency, whereby your card issuer generously layers on another 1-3% in 'foreign currency transactions' b/c the transaction occurred in a foreign country.
Just say "NO".
Just say "NO".
Apr 29th, 2007, 02:28 AM
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Credit card or check/debit card? The conversion rate will be the same. It will change each day. The transaction fees will differ. The credit card will charge 3% or less and the debit card 1%. An ATM fee is charged each use.
Apr 29th, 2007, 03:40 AM
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Credit card or debit card? There is absolutely no general rule...it is purely up to the bank to set whatever fees it wants (or more preceisely what it feels it can extort from its customers and remain competitive).
Citibank, naturally, is one of the worst offenders. This past September it began charging the almost criminal 3% foreign currency fee on debit card purchases as well as ATM withdrawals.
Why is it near criminal? Because the bank has nothing to do with the exchange. The exchange is actually done by visa or mastercard whether it is a credit or debit card transaction. To protect themselves against currency fluctuations, visa and mastercard charge 1% of the amount to the transaction...citibank, and many other banks because they can get away with it, add an additional 2% for performing no service...they have nothing to do with the exchange.
There are some banks that don't pull this garbage but they are becoming fewer and fewer in number as there has never been a banker who doesn't miss a chance to rake over his or her customers.
Citibank, naturally, is one of the worst offenders. This past September it began charging the almost criminal 3% foreign currency fee on debit card purchases as well as ATM withdrawals.
Why is it near criminal? Because the bank has nothing to do with the exchange. The exchange is actually done by visa or mastercard whether it is a credit or debit card transaction. To protect themselves against currency fluctuations, visa and mastercard charge 1% of the amount to the transaction...citibank, and many other banks because they can get away with it, add an additional 2% for performing no service...they have nothing to do with the exchange.
There are some banks that don't pull this garbage but they are becoming fewer and fewer in number as there has never been a banker who doesn't miss a chance to rake over his or her customers.
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