Sterling to euro conversion ripoffs – other costs to be aware of

This e-mail came through from a reader recently – something to be careful of. Remember though, if you’re going to be subjected to such a charge, you need to be told about it up front. If it’s something that you’re credit card company is going to charge you, it should be in your terms and conditions.

                    There is another side to conversion problems i.e. euro to sterling conversion.

I had to book up a hotel in Cork for several people using the Aer Ligus hotel booking site.

First booking was made in the morning and the second in the evening both using the same Aer Lingus site, both with the same card, both for the same date and both for the same hotel.

    When I received my card statement it included a commission charge of £10 for conversion from euros to pounds sterling for the first booking but nothing for the second booking (sterling to sterling). 

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One Response to Sterling to euro conversion ripoffs – other costs to be aware of

  1. Francis mahon December 11, 2009 at 19:00 #

    As far as I know, these currency conversion charges are a new phenomenon, arising out of new EU regulations that came in to effect at the start of November.

    Previously, it was pretty much standard practice for your credit card statement to show a single line for a foreign currency transaction, but the new regulations require that the commission/charge should be shown seperately from the actual currency conversion. I haven’t had a chance yet to look in to it, but the overall cost of conversion shouldn’t have changed, just been broken down in to two components.

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