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Exhange rate on visa

  • 10-04-2013 10:43pm
    #1
    wolfyboy555
    Registered Users, Registered Users 2 Posts: 1,453 ✭✭✭


    I recently booked hotels in America using my aib Visa card. Is there any way to find out what exchange rates are being used as there seems to be a big gap in what I was expecting.

    E.g $418 charged with €334 but xe gives €319

    $240 charged at €213 but xe gives €183


Comments

  • #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Credit or debit?


  • #3
    phoenix999
    Banned (with Prison Access) Posts: 581 ✭✭✭phoenix999


    First one seems ok, but the second one seems ridiculous (rate of $1.12 to €1)Wishful thinking to expect XE market rates. Visa and MasterCard set the daily rates (which today was around $1.30 to €1). However the banks can add commission of 0-5%. Meaning you pay more for your purchases. Even with that, second price is still way out.


  • #4
    wolfyboy555
    Registered Users, Registered Users 2 Posts: 1,453 ✭✭✭wolfyboy555


    Nervous Wreck wrote: »
    Credit or debit?

    it's credit card


  • #5
    Yggr of Asgard
    Registered Users, Registered Users 2 Posts: 5,257 ✭✭✭Yggr of Asgard


    http://www.visaeurope.com/en/cardholders/exchange_rates.aspx

    I found that the rates which are shown here are usually the rates my PTSB card is using (plus the 1.75% conversion charge).

    AIB must show you the rate on the statement and also break out the currency conversion charge separately, have a look at your statement and than go back and ask them why their rate is so far off from the Visa Europe Rate.


  • #6
    wolfyboy555
    Registered Users, Registered Users 2 Posts: 1,453 ✭✭✭wolfyboy555


    Rang up aib there to see what the story was. It was the extra sales tax I forgot to include in the conversion that was the problem. I thought the hotel charges you that over there when you leave. All is good now. Thanks for the info, I must use that site instead of xe when purchasing online in the future!


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  • #7
    chris85
    Registered Users, Registered Users 2 Posts: 4,502 ✭✭✭chris85


    wolfyboy555 wrote: »
    Rang up aib there to see what the story was. It was the extra sales tax I forgot to include in the conversion that was the problem. I thought the hotel charges you that over there when you leave. All is good now. Thanks for the info, I must use that site instead of xe when purchasing online in the future!

    Yeah XE gives the mid market rate, this wouldnt be the rate you would get when exchanging money in the bank or what you will get on your credit card.


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