Amazon Shoppers - Remember to shop in sterling

vibe666

Amazon are offering to Irish customers who pay with a € based credit card to pay in euro instead of sterling after they 'do the math for you'. the problem is, their 'math' is pretty brutal.

here's an example of a decent sized purchase I made today.



Except when you go to http://www.xe.com/ucc/ and run £344.39 through it, you get €384.714 (based on todays exchange rate of 89.5p to the euro) instead of Amazon’s magic figure of €400.27 so they're pocketing €15.55 for their trouble.

i know if you're just buying a book or something it might not matter, but on bigger purchases it very much does.

I had the thought then that maybe my credit card company might charge me a lump to convert too, so maybe I wouldn't be saving anything, but where amazon give you 86p per euro, my Halifax VISA card will give me 89p, so it's a no brainer.

anyway, hope that helps.

P.S. if you ring your CC company they'll tell you what the rate is, or you can go to the VISA website HERE and after entering your bank fee find out exactly what exchange rate they will give you on a day to day basis.

the bank fee for Halifax VISA is 1.75%, other bank rates may vary.

The Sparrow

You are right that the exchange rate can be harsh. But what you have to remember that when you go to Xe.com that you are getting just the exchange rate. Your bank or credit card will also add a commission so it is not like Amazon are pocketing it all as you have to pay commission on any foreign currency payments.

EDIT Reading the end of your post I see you have already addressed that. I should really read an entire post before hitting reply!

Basq

OP..

Is your subject line incorrect?

It's advising people to shop in Euro's, but your post says the opposite.

snubbleste

I thought everyone knew this, you should always purchase in the original currrency of the website otherwise the merchant can charge the rate they wish

mathie

basquille wrote: »

OP..

Is your subject line incorrect?

It's advising people to shop in Euro's, but your post says the opposite.

I hope so. Otherwise Logic has left town.

Basq

mathie wrote: »

I hope so. Otherwise Logic has left town.

Indeed.. I'll fix it now.

Not everyone knows this though regarding buying in sterling.

I've had a number of users mention that the price of a bargain I link to on SendIt / TheHut (etc) / BangCD isn't right because they choose the 'Euro' representation (at an inflated rate) when they've a choice to buy it sterling.

Davy

Can i add Visa Daily Exchange Rates. Lets you check the actual price you be charged, and not the rate that Xe.com give.

This is an essential link when buying in another currency than €uro.

podgeandrodge

Davy wrote: »

Can i add Visa Daily Exchange Rates. Lets you check the actual price you be charged, and not the rate that Xe.com give.

This is an essential link when buying in another currency than €uro.

Great link - that link deserves it's own Stickly IMO.

Ideo

Davy wrote: »

Can i add Visa Daily Exchange Rates. Lets you check the actual price you be charged, and not the rate that Xe.com give.

This is an essential link when buying in another currency than €uro.

Great Link!

denat

Many thanks to vibe666 for alerting/reminding us of this.

Valuable info.

Keano

I copped this the other day when purchasing from Amazon. Cheers OP for pointing it out though.

Oracle

Thanks for this although kinda knew already. Maybe this should be on a sticky.

Lumi

Davy wrote: »

Can i add Visa Daily Exchange Rates. Lets you check the actual price you be charged, and not the rate that Xe.com give.

This is an essential link when buying in another currency than €uro.

Thanks for this!!
Does anyone know what bank fee AIB charge for foreign currency transactions on a VISA card?

Davy

Fionagus wrote: »

Thanks for this!!
Does anyone know what bank fee AIB charge for foreign currency transactions on a VISA card?

Visa: 1.75% within Visa Europe region; 2.75% outside Visa Europe region

Oracle

Anyone willing to do a list of all the credit cards on the Irish market and their foreign currency transaction charges?

Davy

Oracle wrote: »

Anyone willing to do a list of all the credit cards on the Irish market and their foreign currency transaction charges?

Well THIS LINK has most cards. Click which ever one you have, and go half way down to "Non euro purchases fee (as % of transaction value)"


Generally its doesnt vary much, and the slight different of either 1.75% or 2.65% is not going to make much difference.

Oracle

Thanks for that Davy. I found a list of the best value cards for foreign transactions, and their charges, as well: http://www.askaboutmoney.com/showthread.php?t=23077

vibe666

basquille wrote: »

OP..

Is your subject line incorrect?

It's advising people to shop in Euro's, but your post says the opposite.

sorry, got myself back to front there, was just getting ready to leave work and rushed it slightly. thanks for fixing it.

Davy wrote: »

Can i add Visa Daily Exchange Rates. Lets you check the actual price you be charged, and not the rate that Xe.com give.

This is an essential link when buying in another currency than €uro.

you seem to have gotten a lot of thanks for posting a link that I had already put in my original post (in last but one paragraph). doesn't seem very fair, esp. when I didn't get any thanks at all.

maybe I'm just a glory hound.

bazwaldo

Davy wrote: »

Well THIS LINK has most cards. Click which ever one you have, and go half way down to "Non euro purchases fee (as % of transaction value)"


Generally its doesnt vary much, and the slight different of either 1.75% or 2.65% is not going to make much difference.

Davy, brilliant link. All the magic numbers the banks aren't too forthcoming with :cool:

vibe666

bazwaldo wrote: »

Davy, brilliant link. All the magic numbers the banks aren't too forthcoming with :cool:

he "out-clicky linkyed" me that time, got to give him that one.

Duffman

Davy wrote: »

Can i add Visa Daily Exchange Rates. Lets you check the actual price you be charged, and not the rate that Xe.com give.

This is an essential link when buying in another currency than €uro.

Mastercard's site seems to be a bit rubbish on the other hand. Does anyone know if there is a similar tool for Mastercards?

Davy

Duffman wrote: »

Mastercard's site seems to be a bit rubbish on the other hand. Does anyone know if there is a similar tool for Mastercards?

No, i dont think they have one. You ring your card provider and they will tell you the rate