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Debit card cross border exchange rates?

  • 08-01-2010 2:15am
    #1
    chasm
    Registered Users, Registered Users 2 Posts: 2,124 ✭✭✭


    Hi Guys,

    Was wondering if someone could answer this for me....

    Was in Enniskillen one day last month and used my AIB debit card to pay for purchases in 3 different stores.
    Judging by my Bank statement the payments were taken from my account on the same day, but with 3 different exchange rates.
    I dont know why, but i always assumed that the bank set the exchange rate but as my statement shows i assumed wrong :) So is it definitely the shops that set the rate or would there be another reason why 3 different rates were applied on my statement?

    Thanks in advance;)


Comments

  • #2
    Eurorunner
    Closed Accounts Posts: 2,393 ✭✭✭Eurorunner


    chasm wrote: »
    Was in Enniskillen one day last month and used my AIB debit card to pay for purchases
    Didn't realise AIB had a debit card?
    chasm wrote: »
    Judging by my Bank statement the payments were taken from my account on the same day, but with 3 different exchange rates.
    Was in Belfast before Christmas and bought stuff using my Halifax Visa Debit Card. In a couple of places, they asked me if I wanted it charged in euros or £'s. I'd assume if you choose euros, then your at the mercy of their exchange rate so always asked for it to be charged in £'s - in which case i'd imagine it should be the banks standard exchange rate??

    Would it have been something like this that would have explained your three different rates??


  • #3
    Davy
    Registered Users, Registered Users 2 Posts: 19,340 CMod ✭✭✭✭Davy


    Eurorunner wrote: »
    Didn't realise AIB had a debit card?

    Aib laser/maestro card im guessing?

    Eurorunner wrote: »
    they asked me if I wanted it charged in euros or £'s. I'd assume if you choose euros, then your at the mercy of their exchange rate so always asked for it to be charged in £'s - in which case i'd imagine it should be the banks standard exchange rate??

    I was thinking same, but wouldn't the transaction not have appeared in euro completely. The exchange was done on the store side, it should be as they were making a transaction in the eurozone.

    Op compare the receipts with the exchange amount, and see do the euro amount match.


  • #4
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Similiar thing happened to me recently
    Bought stuff in various stores using Laser and was charged different exchange rates varying from 0.76 to 0.87 (the xe mid-rate was quoting 0.89)
    Was never asked if I wanted the transaction in sterling or euro


  • #5
    chasm
    Registered Users, Registered Users 2 Posts: 2,124 ✭✭✭chasm


    snubbleste wrote: »
    Similiar thing happened to me recently
    Bought stuff in various stores using Laser and was charged different exchange rates varying from 0.76 to 0.87 (the xe mid-rate was quoting 0.89)
    Was never asked if I wanted the transaction in sterling or euro

    No i have never been asked either, does the fact that your card (Eurorunner) is a VISA debit card come in to it?

    Right, firstly it was actually November i made the transactions, i cannot find them online as according to their search facility on AIB online banking, i only made 3 debit transactions for the whole of November(I wish!!), however i keep my own written records and i had written down the rates as they appeared on online banking at the time, and it was written like so:
    Tesco @ .8768860 61.80
    Asda @ .852913 10.47
    Argos @ .874116 22.64

    The store receipts are in sterling, so the stores would apply to the bank for the sterling amount No?
    I should receive a statement soon so i will check again then.

    Thanks for the replies:)


  • #6
    Eurorunner
    Closed Accounts Posts: 2,393 ✭✭✭Eurorunner


    chasm wrote: »
    No i have never been asked either, does the fact that your card (Eurorunner) is a VISA debit card come in to it?
    that may be. It was Burtons where they gave me that option. I think I have been asked once or twice in the past but it doesn't happen on most purchases...


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