Ryanair Exchange Rate

abff

I booked one way flights from the UK today using the app on my phone. I have just received a confirmation email which showed the price in sterling and then an equivalent price in euro. It looks as if they have converted it automatically using an exchange rate of £1=€1.21136

This is over 7% higher than today's mid market rate of €1.13. I don't recall being asked at any point in the process whether I wanted to pay in sterling or euro. Is this an option when booking on the app or are you forced to accept their rip off exchange rate?

goingnowhere

Tickets are priced and sold in the currency of the country the journey starts in

You should be billed in GBP unless there was the option (and it should always be optional) to take whatever currency conversion offered

Credit cards will charge a markup on FX also

abff

goingnowhere wrote: »

Tickets are priced and sold in the currency of the country the journey starts in

You should be billed in GBP unless there was the option (and it should always be optional) to take whatever currency conversion offered

Credit cards will charge a markup on FX also

Thanks, that's what I thought should happen.

I know that credit card companies charge a mark up on FX - I think it's typically 2.25% or thereabouts. It's the additional 5% that I find objectionable.

Maybe it's just an indicative figure shown on my booking confirmation and I have actually been charged in sterling? I guess I'll find out in a couple of days when the charge hits my account.

-=al=-

You have to deselect The Ryanair conversion rate just before you purchase the flights. It’s hidden away in a menu just under the card details if I remember correctly. They switch it and do the conversion themselves at a bad rate so you want to convert the currency yourself

It’s pretty sneaky the way they change it at the last second and have he menu hidden

abff

-=al=- wrote: »

You have to deselect The Ryanair conversion rate just before you purchase the flights. It’s hidden away in a menu just under the card details if I remember correctly. They switch it and do the conversion themselves at a bad rate so you want to convert the currency yourself

It’s pretty sneaky the way they change it at the last second and have he menu hidden

Thanks. Something to watch out for if I'm ever booking flights originating in the UK again. These particular flights were not that expensive, so it's only a few euro extra, but it leaves a bad taste all the same.

abff

abff wrote: »

Thanks. Something to watch out for if I'm ever booking flights originating in the UK again. These particular flights were not that expensive, so it's only a few euro extra, but it leaves a bad taste all the same.

I'm just wondering whether what Ryanair are doing with having a default option of automatic currency conversion at unfavourable rates is in breach of any regulations. I note that they no longer add on insurance automatically and all the other options (seats, priority boarding, etc.) have to be selected rather than being included as a default.

ohnonotgmail

abff wrote: »

I booked one way flights from the UK today using the app on my phone. I have just received a confirmation email which showed the price in sterling and then an equivalent price in euro. It looks as if they have converted it automatically using an exchange rate of £1=€1.21136

This is over 7% higher than today's mid market rate of €1.13. I don't recall being asked at any point in the process whether I wanted to pay in sterling or euro. Is this an option when booking on the app or are you forced to accept their rip off exchange rate?

you never get the mid-market rate. Sell rates for euro to GB is 1.16 with aib today. Plus whatever commission your credit card charges. 1.21 is still a rubbish rate but not as rubbish are you are making out.

abff

ohnonotgmail wrote: »

you never get the mid-market rate. Sell rates for euro to GB is 1.16 with aib today. Plus whatever commission your credit card charges. 1.21 is still a rubbish rate but not as rubbish are you are making out.

I disagree. Credit card rates tend to be slightly better than the rate you will get from the bank for cash and are typically 2.25% above mid market rates.

Anyway, the issue here is that they have it set up so that they automatically apply the rip off conversion rate and make it difficult to spot what they're doing until it's too late. Once bitten, twice shy.

-=al=-

Just use Revolut for Ryanair/sterling purchases

Right now you'll get £1 for €1.12 with no other fees. So next time you're on Ryanair, the price you see if the price you pay once you un-tick the box for the Ryanair convenience conversion.

I'm sure they can legally do it since they give you the option to refuse it - albeit a little hard to understand, find and they advise against it. Cheeky.

Amazon, Paypal and Ebay do similar and I'm sure many others. When purchasing something there can be an option somewhere that says "Are you sure you want to convert the money yourself? The rate may be worse and it could cost a fortune!" But generally speaking, it never is.

vandriver

ohnonotgmail wrote: »

you never get the mid-market rate. Sell rates for euro to GB is 1.16 with aib today. Plus whatever commission your credit card charges. 1.21 is still a rubbish rate but not as rubbish are you are making out.

With a Revolut card,the rate today is1.1256.