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Multilateral Interchange Fees (Brazilian Visa card paying for something in Ireland)

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  • 14-01-2011 10:35pm
    #1
    gaf1983
    Registered Users Posts: 1,209 ✭✭✭


    Hi there, just a question to see if any of you can help me. I work as an English teacher in Ireland. Last week one of our students paid tuition fees using a Brazilian Visa card. The fees came to €2000. However, a week later, his bank statement has shown up that €2182 was transferred. Is it normal for bank charges to be this high when paying with a Brazilian Visa card in Euro in a Eurozone country?

    I've told him to contact his bank to see what the story is. I was wondering has anyone used a foreign currency Visa card to pay for something in Ireland and get hit by exorbitant bank charges?


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    #2
    lil_lisa
    Registered Users Posts: 1,829 ✭✭✭lil_lisa


    In my experience, it depends on whether its credit or debit. If its credit (i.e. the banks money) then they usually charge an currency exchange fee and international bank charges. The only way around this is to use debit or have your credit card on the positive side so you're only using your own money, however they might still charge an exchange fee. I would contact the bank to get a breakdown of the fees.


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    #3
    gaf1983
    Registered Users Posts: 1,209 ✭✭✭gaf1983


    Thanks lil_Lisa, yeah I told him to contact his bank, I guess we'll have to wait til Monday and see what they tell him.

    It does seem very high, nearly 10%, do you know is that standard?


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    #4
    Darren1o1
    Registered Users Posts: 744 ✭✭✭Darren1o1


    gaf1983 wrote: »
    Thanks lil_Lisa, yeah I told him to contact his bank, I guess we'll have to wait til Monday and see what they tell him.

    It does seem very high, nearly 10%, do you know is that standard?

    This happened before when my GF both airline tickets for Aer Lingus (back to Ireland to meet the parents) and She was charged something similar on a BOA credit card. I always use certain Visa cards in Ireland, when I return, and some charge insane fees, and some don't at alll!!


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    #5
    keithclancy
    Registered Users Posts: 9,208 ✭✭✭keithclancy


    gaf1983 wrote: »
    Thanks lil_Lisa, yeah I told him to contact his bank, I guess we'll have to wait til Monday and see what they tell him.

    It does seem very high, nearly 10%, do you know is that standard?

    Its totally at the discretion of the bank.

    The student should check the T&Cs on their account


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    #6
    n900guy
    Registered Users Posts: 288 ✭✭n900guy


    gaf1983 wrote: »
    Hi there, just a question to see if any of you can help me. I work as an English teacher in Ireland. Last week one of our students paid tuition fees using a Brazilian Visa card. The fees came to €2000. However, a week later, his bank statement has shown up that €2182 was transferred. Is it normal for bank charges to be this high when paying with a Brazilian Visa card in Euro in a Eurozone country?

    I've told him to contact his bank to see what the story is. I was wondering has anyone used a foreign currency Visa card to pay for something in Ireland and get hit by exorbitant bank charges?

    Might depend on a few things: 2% interchange fee (his credit card to his bank?)
    3% international transaction fee and another few percent for currency purchase, for example (was the Visa in Reals?).


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