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MBNA foreign currency charges

  • 22-05-2011 10:45PM
    #1
    aspasp1
    Registered Users, Registered Users 2 Posts: 272 ✭✭


    Hi,

    I bought flight tickets from uk website. but for some reason one segment of the flights could not be on e ticket and they has to cancel it. Not my problem. So the uk company refunded all my money in sterling. Despite euro pound rate being same on both the days. I ended up loosing nearly 100 euro. And MBNA explaines when I bought tickets they charge foreign currency purchase fee....My arse ....I lost 100 euro for nothing...


Comments

  • #2
    maxer68
    Closed Accounts Posts: 1,076 ✭✭✭maxer68


    This is the drawback to buy and selling / returning in adifferent currency.


    Example - if the mid market rate on the day was 90p, you would have received a rate of approx. 88.5p when buying the flights.

    When you got a refund (effectively selling the flights back) you would receive an approx rate of 91.5p.

    It a currency margin and one of the areas banks make a profit to pay for their staff and their little bonuses - and it applies to very bank / credit card / payment form worldwide.


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