BOI Visa card + new fees

franksm

Hi folks

(hope I'm not repeating things here, I did a search on this topic and it appears new)

Visa card transactions (BOI Visa card) outside of the Euro zone now attract a 1.75% fee. Is that the case with all credit cards, or just the BOI ?

I use my card up North quite a bit, and it's only since start of March that this fee has been appearing on my bill.

If it's just the BOI, it's the last straw - they tried to give me a Master card along with my Visa card in 2005 (actually sent both out to me) and I told them to stuff the Master card. They then converted me to Master in February this year - I had to gripe at them to put me back on Visa.

Thanks

Frank

Nightwish

I've noticed that too. I dont recall being informed. I'm going to the bank on Tuesday about it and if I'm not happy with their response I'm cancelling my card with them.

franksm

Good on ye - Luckily most cards will let you transfer over from other cards VERY easily

I dropped BOI an email since their branches are shut today (don't want to go through this with 365online as I'm not sure it'll be dealt with or not there).

I'll go to my branch on Tuesday.

I have had no such problems with my Ulster Bank Visa card (Euro version), but you can't (yet) see your statement online with UB so I haven't transitioned over to that fully.

I raised the same thread over on AskAboutMoney.com to see what they say
http://www.askaboutmoney.com/showthread.php?t=26584

Nightwish

Yeah I'm going to shop around for the best transfer rates over the weekend. Any recommendations for sites etc? How did the BOI think they could introduce that without people noticing and how were they allowed without any prior notice?

franksm

There seem to be two theories over on that other forum: BOI introduced it because all the other credit card companies charge that fee; or BOI were already* charging it, but it was hidden, and now they are just making it obvious.

I dunno - I'll wait until they reply to me or until I go to my branch to ask.

askaboutmoney.com might have an FAQ on CC comparison, but maybe there's something in the Sunday Business Post on the subject. I'll take a look on Sunday.

Mates at work here confirm that BOI converted them to Mastercard. You can bet which one (Visa or Mastercard) suits BOI best :rolleyes: Have heard that Mastercard isn't as widely supported in Europe/etc as Mastercard is. Flutes.

Nightwish

btw, mine is a Mastercard so its obviously an across the board BOI thing.

Oryx

BOI changed me to mastercard, too... but no biggie for me. Have surfed to Bank of Scotland cos their interest rate is *much* lower, and thats what matters, unfortunately, with my account.:rolleyes:

Nightwish

I've just returned from the bank where I enquired about the 1.75% charge. Apparently it was always there but hidden in the total on the bill and they now by law have to show the charge, hence the 1.75% fee showing up separately.

franksm

Thanks for trying, Nightwish. I got the same response there now from them - lots of words, but means exactly what you're saying:

---

Bank of Ireland have always charged this fee for any transaction that was completed outside the Euro zone. This fee is outlined in Section 6 in our conditions of use.

This cross border handling fee has never been changed and has always been set at 1.75%.

The Regulator has requested all financial institutions to be more transparent in the charges they impose on customers. We have been developing our systems since this request was received by the Regulator and up until now have been unable to display this particular fee on customers monthly statements.

This fee is incorporated in the overall exchange rate that is displayed.

---

Ah well, nice to know we're being shafted more clearly now :rolleyes:

mel123

if u change credit cards and u have already paid your 40euro government levy or whatever the hell it is, will u have to pay it on ur new card with another bank??

DubOnHoliday

BOI also switched my visa to a mastercard without explanation/approval.... anybody know why?