Comments on: Sterling to euro conversion ripoffs – other costs to be aware of http://www.valueireland.com/2009/12/sterling-to-euro-conversion-ripoffs-other-costs-to-be-aware-of/ Better Purchasing Decisions Through Better Information Wed, 28 Jul 2010 19:41:09 +0100 hourly 1 http://wordpress.org/?v=3.0 By: Francis mahon http://www.valueireland.com/2009/12/sterling-to-euro-conversion-ripoffs-other-costs-to-be-aware-of/comment-page-1/#comment-3653 Francis mahon Fri, 11 Dec 2009 18:00:08 +0000 http://www.valueireland.com/?p=4281#comment-3653 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. 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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