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Buying euros at the post office with debit card

12
Found 27th Nov 2014
Just a thought, I was in the queue at my local Post Office and the person in front bought Euros. They paid by debit card and was told this could incur charges from their bank. Why?

They were not exchanging cash and surely it was a transaction between the Post Office and the customer for a commodity. If i buy my car tax or stamps from the Post Office using my debit card I don't pay a surcharge.

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12 Comments
I think that they were given incorrect information by the PO.
cdm22

http://www.which.co.uk/news/2011/05/debit-card-charges-hit-travellers-before-leaving-uk-254623/




Link faulty.
Inactive

I think that they were given incorrect information by the PO.



Yep. Charges stopped in 2012 according to this thisismoney.co.uk/mon…tml
That used to happen , Lloyds and Barclays certainly did it till last year . Lloyds charged me 0.5% (max £5 ) for buying currency else where ,Thomas Cook in my case . I told them where they could stuff my account if they were going to charge me for spending my own money . They waived the fees ! As of this year they don't charge - nor do TSB but check the T&Cs for purchasing Forex with a debit card at your bank . To be fair to Lloyds it was is the T&Cs . Obviously another Banking scam as all the High Street Bank rates are worse than Thos Cook ,Travelex etc .
Agreed, this is from PO Website;

You can also buy your travel money in any Post Office branch. We won't charge commission, you can order as much or as little as you like and you'll be able to pay with cash or with any Visa or Mastercard.
My trusted foreign currency provider is Fair FX, good rates and 100% reliable service to my door.
Inactive

Agreed, this is from PO Website;You can also buy your travel money in any … Agreed, this is from PO Website;You can also buy your travel money in any Post Office branch. We won't charge commission, you can order as much or as little as you like and you'll be able to pay with cash or with any Visa or Mastercard.


No the post office or Thomas Cook didn't charge ,my Bank did (or tried to )! Was on the Statement £500 - then £2.50 Forex transaction fee . Like I said I got it back and they don't do it now .
Edited by: "rogparki" 27th Nov 2014
rogparki

No the post office or Thomas Cook didn't charge ,the Bank did ! Was on … No the post office or Thomas Cook didn't charge ,the Bank did ! Was on the Statement £500 - then £2.50 Forex transaction fee . Like I said I got it back and they don't do it now .



Sorry, crossed lines, my post was aimed the post before yours.
The Post Office Foreign Currency online always seems to give a top rate...I elect to collect at my local post office but they will deliver for no extra charge! Have been buying from them over the last year, all good!
I used to work in a fx bureau, we were told that although the card may be debit it goes through the visa network still and visa flag it as a cash advance so charge the banks a cash advance fee. This is then passed on to the consumer.
paul1005

I used to work in a fx bureau, we were told that although the card may be … I used to work in a fx bureau, we were told that although the card may be debit it goes through the visa network still and visa flag it as a cash advance so charge the banks a cash advance fee. This is then passed on to the consumer.

That sounds weird because isn't getting money out of an at with a visa card a cash advance, but you don't pay charges then.
MIDURIX

That sounds weird because isn't getting money out of an at with a visa … That sounds weird because isn't getting money out of an at with a visa card a cash advance, but you don't pay charges then.


An ATM transaction is different from an over the counter Cash advance. Look at all prepaid cards, most will allow free cash withdrawls from ATMs but charge a fee for over the counter withdrawls.

Agreed it doesnt make much sense but then most things VISA & MC do don't make much sense.
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