Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Debit card cross border exchange rates?

Options
  • 08-01-2010 3:15am
    #1
    chasm
    Registered Users Posts: 2,083 ✭✭✭


    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

  • Options
    #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??


  • Options
    #3
    Davy
    Registered Users 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.


  • Options
    #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


  • Options
    #5
    chasm
    Registered Users Posts: 2,083 ✭✭✭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:)


  • Options
    #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...


  • Advertisement
Advertisement