Credit card exchange rate

Discussion in 'Off-Topic Discussion' started by Sirius, Jul 23, 2015.

  1. Sirius

    Sirius Total Gardener

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    We are off on holiday to Spain in a few weeks.
    Can't wait :spinning:

    Quick question re credit cards.

    When using it in Europe, I have noticed that the machine gives you an option to pay in Euro or Sterling £.
    And you select your option on the credit card device.

    Which option gives the better exchange rate?
     
  2. "M"

    "M" Total Gardener

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    Crikey, no idea!

    Hope you enjoy a wonderful holiday though :dbgrtmb:
     
  3. Victoria

    Victoria Lover of Exotic Flora

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    Sirius, it's a question with many answers ... there is no simple answer because ...

    * Different c/c suppliers may charge different handling costs
    * Suppliers may be more or less favourable in the exchange rate they apply
    * Debit card transactions may often be cheaper

    Is it really important? Check with your supplier to see what their European rates are.
     
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    • HarryS

      HarryS Eternally Optimistic Gardener

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      I must admit I have never noticed this option when paying by CC . I honestly don't think there would be a difference , the exchange has to be done somewhere in the transaction , and only you are going to pay for this. I tend to use mostly cash these days when abroad. You can generally get good exchange rates to the £1 . Over here Thomas Cook seem to give the best exchange rates. Don't change at the airport the rates are appalling !
       
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      • Jack McHammocklashing

        Jack McHammocklashing Sludgemariner

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