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Amazon and eBay payments

  • 07-12-2015 4:49pm
    #1
    Yorky
    Registered Users Posts: 1,485 ✭✭✭


    I've always paid for Amazon and eBay purchases with a Tesco Visa credit card but the euro/sterling exchange rate is similar to the banks.

    Would there be a better exchange rate by using an online currency exchange service such as CurrencyFair? I've already got a sterling current account with a debit card so euro could be exchanged for sterling and transferred to the sterling current account, and the debit card linked to the Amazon and eBay accounts.

    Would this be the most cost effective way of funding such purchases?

    UPDATE: From CurrencyFair website: Please note, all our GBP transfers are made via CHAPS. If you are transferring to a GBP account in Northern Ireland, your bank may charge you to receive these funds. The fee is usually in the region of £6


Comments

  • #2
    coylemj
    Registered Users, Registered Users 2 Posts: 25,476 ✭✭✭✭coylemj


    Yorky wrote: »
    I've always paid for Amazon and eBay purchases with a Tesco Visa credit card but the euro/sterling exchange rate is similar to the banks.

    I don't know about eBay (probably depends on the individual vendor) but Amazon's exchange rate is not 'similar' to the banks, it's always worse.

    On three recent transactions when buying from Amazon UK, I made a note of the Euro price they offered me (which I declined), paid in sterling and when the transaction appeared on my credit card bill, it was always less than the one on offer from Amazon.

    My policy is to always pay a vendor in his own currency and let the credit card company do the FX - that applies to mail order and when paying hotel bills in non-Euro countries.


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