Just a heads-up for anyone using their bank card overseas...
British holidaymakers are paying hundreds of millions of pounds in unnecessary charges when they use their credit and debit cards overseas. Shops, restaurants and cash machines are offering tourists the option of paying in pounds rather than the local currency and applying a poor exchange rate if they take up the offer. This costs UK tourists about £500m a year, analysis for the BBC has found. The lower rates are equivalent to charging about 6% on each transaction.
http://www.bbc.co.uk/news/business-40702496
Tourists warned over exchange rate costs
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Tourists warned over exchange rate costs
"Even men with steel hearts love to see a dog on the pitch, It generates a warmth around the ground that augurs well for mankind."
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NVA BMU / WTL Versalex / Transfiguration Axia /NVA Phono2 w/ 2nd PSU / GSP Revelation C / Vortexbox Appliance NAS Server / Sonore microRendu USB streamer w/ LPSU / Chord 2Qute USB dac / NVA P90sa / NVA A80MK2 (bass) / NVA A70 MK2 (tweeters) / NVA Cube 1 / NVA TIS MK1 / NVA SSPMK2 / NVA LS6 / NVA AP10H (& 1x additional PS) / Audeze LCD-2
Re: Tourists warned over exchange rate costs
I think it's quite naughty for consumers to be presented with that option at the point of sale without being given any information as to which is the best one.
Re: Tourists warned over exchange rate costs
They deliberately put you on the spot, and when they do give the rate it is in a format most people wouldn't recognise.
"Even men with steel hearts love to see a dog on the pitch, It generates a warmth around the ground that augurs well for mankind."
NVA BMU / WTL Versalex / Transfiguration Axia /NVA Phono2 w/ 2nd PSU / GSP Revelation C / Vortexbox Appliance NAS Server / Sonore microRendu USB streamer w/ LPSU / Chord 2Qute USB dac / NVA P90sa / NVA A80MK2 (bass) / NVA A70 MK2 (tweeters) / NVA Cube 1 / NVA TIS MK1 / NVA SSPMK2 / NVA LS6 / NVA AP10H (& 1x additional PS) / Audeze LCD-2
NVA BMU / WTL Versalex / Transfiguration Axia /NVA Phono2 w/ 2nd PSU / GSP Revelation C / Vortexbox Appliance NAS Server / Sonore microRendu USB streamer w/ LPSU / Chord 2Qute USB dac / NVA P90sa / NVA A80MK2 (bass) / NVA A70 MK2 (tweeters) / NVA Cube 1 / NVA TIS MK1 / NVA SSPMK2 / NVA LS6 / NVA AP10H (& 1x additional PS) / Audeze LCD-2
Re: Tourists warned over exchange rate costs
And most consumers wouldn't have instant access to the latest exchange rates (like from memorising it after reading the daily newspaper in the morning), so wouldn't know if the offered rate was good or not anyway.