Pay on a Switch card and there's no charge, yet if you pay for foreign currency on a credit card, or some banks Visa debit cards, its possible youll be charged an additional fee on top of what you pay the bureau de change. If possible avoid using the cards that charge and pay another way instead.
Credit cards. All credit cards charge when you buy foreign currency, as this is treated as if you are withdrawing cash from an ATM, plus you could be charged interest from the day you make the purchase, even if you repay it in full at the end of the month. See a full table of these charges
Visa Debit cards. If you have a Visa Debit card (these used to be known as Delta), whether youre charged depends on your bank, it will usually be around 2.5% with a minimum of £3.
Debit cards that DO charge a fee
Debit cards that DON'T charge a fee
Abbey Coventry BS
Alliance & Leicester First Direct
Co-op Intelligent Finance
Lloyds TSB Nationwide
If you only have one of these cards... then you're likely to be better off by just spending on it while overseas, than buying foreign cash with it. The big exception is Lloyds debit card, which if you spend on it abroad will slap ANOTHER charge on top every time you spend in a shop, as well as the normal foreign currency fees.
So basically changing your money in this country could cost you 2.5% extra than you realise. Not sure what they call this charge seeing as the bank don't change your money and you're not using it internationally. Didn't think they would be allowed to charge this? Thought you had a right to use the money without charges, I could understand if the company that was doing the transfer charged extra, but this is the banks, surely this is exactly the same as using your card to buy something, so why do they charge for this??
I am changing some money soon, does anyone know if this charge applies instore too, or is it just over the net? I am going into Tesco to change my money, it's charge free from a Tesco credit card so I'll probably do that but in case they don't have that offer I'll use my debit card. If they still charge a fee for that then I'd be better off taking cash out and changing that wouldn't I?