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Bank charges on Lazer card in non Euro Zone

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  • 10-07-2010 11:32pm
    #1
    Eve B
    Registered Users Posts: 2 ✭


    Can anyone tell me what is the cheapest way of getting money out in a non Euro zone country? I was in India and used my Lazer card at their ATM machines there. I found out on my return that the currency conversion rate my own bank charged me was enormous. :eek:
    They also lopped on a commission fee of 1.75 of the Euro value as well. I am with Permanenttsb.


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


    Eve B wrote: »
    Can anyone tell me what is the cheapest way of getting money out in a non Euro zone country? I was in India and used my Lazer card at their ATM machines there. I found out on my return that the currency conversion rate my own bank charged me was enormous. :eek:
    They also lopped on a commission fee of 1.75 of the Euro value as well. I am with Permanenttsb.

    most credit cards charge have no charge on taking cash out at ATMs abroad as long as your account is in credit and remaings in credit when the money is taken out (i.e. the transaction doesnt send the card into the red).

    Other than that bring cash with you or bring travellers cheques but they are a pain in the ass to bring with you. I always just load up my credit card.


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    #3
    Eve B
    Registered Users Posts: 2 ✭Eve B


    Thanks for above reply,
    But my account was and still is well in credit. I phoned the bank and they said that these are the charges. Think I will be leave Permanenttsb


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    #4
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    You will find that the PTSB charges are the same as the others when outside the EU zone for atm cards.

    Credit cards are different, some will even charge if you have funds on the card.


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    #5
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    Eve B wrote: »
    Thanks for above reply,
    But my account was and still is well in credit. I phoned the bank and they said that these are the charges. Think I will be leave Permanenttsb

    credit cards are different to laser. laser have charges for anything outside eurozone and the bank may also charge a currency fee.

    My credit card on the other hand doesnt charge any fees when withdrawing money as long as i remain in credit.


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    #6
    tenchi-fan
    Closed Accounts Posts: 3,339 ✭✭✭tenchi-fan


    Permanent tsb used to include their commission charges within the withdrawal so you just assumed the exchange rate was bad. Now they separate it out on the bank statement and it looks pretty shocking. Then again, I doubt the other banks are any better.


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    #7
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Taking money out in a foreign country has nothing to do with Laser, it's your ATM card that's being used. The companies that process these payments are the likes of Maestro, Cirrus, Link and maybe a few others. They charge a fee for doing this, which the bank passes on to you.
    Eve B wrote:
    Think I will be leave Permanenttsb

    You'll find all the other banks will be exactly the same.


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    #8
    chris85
    Registered Users Posts: 4,502 ✭✭✭chris85


    jor el wrote: »
    Taking money out in a foreign country has nothing to do with Laser, it's your ATM card that's being used. The companies that process these payments are the likes of Maestro, Cirrus, Link and maybe a few others. They charge a fee for doing this, which the bank passes on to you.



    You'll find all the other banks will be exactly the same.

    Yeah Laser/maestro/cirrus, we all know what the question is being asked. People just call them laser cards as we all know them this way.


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