Expired

Is banks this desperate to make money ?

24
Found 23rd Nov 2013
I have two small charges from my bank account & wondering what they are ?
I'm guessing I've been robbed by the bank for buying a tablet on here that was in $$$$$$.If so then should these charges not be added to the hot deal threads on here.

NON-STG PURCH FEE CD 7219 £1.00

NON-STG TRANS FEE 2.99% CD 7219 0.52p

WWW.DX.COM GB 28.30 VisaXR 1.60887 CD 7219

Not a lot of money,but still cheeky & a nasty way to make money from a customer :-/
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You usually have to pay for currency conversion, this will be explained in your account terms and conditions
Edited by: "Jace_Phoenix" 23rd Nov 2013
jayjayuk1234

You usually have to pay for currency conversion, this will be explained … You usually have to pay for currency conversion, this will be explained in your account terms and conditions



This.
I thought everyone knew this......
Original Poster Banned
jayjayuk1234

You usually have to pay for currency conversion, this will be explained … You usually have to pay for currency conversion, this will be explained in your account terms and conditions

As this is a UK site,then it would be better if potential buyers could be told this on the deal thread.
I never knew my bank would charge me (had to google it) as they never charge me for other deals I've bought in the past from abroad.
Pretty sure there were countless posts about dx being offshore. The fact that the payment was in dollars didn't throw you off?

Apt user name for someone trying to blame others for their own failings.
Use PayPal in future they'll convert so no charges as far as I know
^^ Very true. Everytime i buy something from china/us i have always used paypal and never had to pay a conversion fee.
ItWizzNaeMe

As this is a UK site,then it would be better if potential buyers could be … As this is a UK site,then it would be better if potential buyers could be told this on the deal thread.I never knew my bank would charge me (had to google it) as they never charge me for other deals I've bought in the past from abroad.



I am sure that all UK banks have clear terms & conditions, you obviously cannot be bothered to read them.

You will always pay a fee for foreign transactions, even with Paypal, they will take it in their transaction percentage, even if it does not show up as such.
jayjayuk1234

You usually have to pay for currency conversion, this will be explained … You usually have to pay for currency conversion, this will be explained in your account terms and conditions


Even if the bank had not charged you an extra fee, they need to pass on the cost of FX since you dont have a dollar bank account. You therefore need to buy them and the rate you get in this case is usually 'loaded'. The sterling:dollar rate would be a little further from the regular bank rate, in effect it costs you either way in my experience!
Edited by: "davewave" 23rd Nov 2013
yes, banks is.
magicbeans

yes, banks is.



...innit...;)
Edited by: "fuzzydunlop" 23rd Nov 2013
" Not a lot of money,but still cheeky & a nasty way to make money from a customer "

How much does your bank actually charge you to use your account ??
Jamied9591

^^ Very true. Everytime i buy something from china/us i have always used … ^^ Very true. Everytime i buy something from china/us i have always used paypal and never had to pay a conversion fee.



you do pay a conversion fee because paypal converts it at a lower rate than what is the current going rate. they just don't make it explicit by charging you a fee like the banks.

the only way to get around it would be to have a US based bank account, and fund your US paypal from that account.

Is banks this desperate to make money ?



all time low on misc.
Edited by: "fuzzydunlop" 23rd Nov 2013
I do agree with OP that given the bank has to do no extra work to pay in a different currency, the computer does it, why should they pass on a charge? it's the same as them sneaking on huge charges to withdraw money in foreign ATMs, or giving a poor exchange rate. it is daylight robbery for no reason. Not to mention if you don't have overdraft protection, the fees that arise for going a pound or less over. Not that they've got me on this for a good long while now, in fact they probably make zero money in fees from me at all (still i'm sure they are making a tidy profit from investing my money).
emodan

Use PayPal in future they'll convert so no charges as far as I know



That's incorrect, they will charge for any currency conversion and their rate is usually higher than your banks along with crappy exchange rates. It's not very transparent so people just go with the paypal default.

lifehacker.com/595…ion
fuhu78888

I do agree with OP that given the bank has to do no extra work to pay in … I do agree with OP that given the bank has to do no extra work to pay in a different currency, the computer does it, why should they pass on a charge? it's the same as them sneaking on huge charges to withdraw money in foreign ATMs, or giving a poor exchange rate. it is daylight robbery for no reason. Not to mention if you don't have overdraft protection, the fees that arise for going a pound or less over. Not that they've got me on this for a good long while now, in fact they probably make zero money in fees from me at all (still i'm sure they are making a tidy profit from investing my money).



I guess these banks don't have staff to pay, upgrades to undertake, investments to make, debts to pay off and shareholders to make happy. . . . .
Is this a recent thing?

About 4 months ago I used my debit card to buy some software from a German company (100 euros). No fee showed on my account.
Last week I bought some tyres from Germany (around 70 euros) and I was charged a Non Sterling Transaction Fee of £1.63.
teh arn

I guess these banks don't have staff to pay, upgrades to undertake, … I guess these banks don't have staff to pay, upgrades to undertake, investments to make, debts to pay off and shareholders to make happy. . . . .



Clearly you have little understanding of how banks make money. It's not from charging people annoying fees!
buddhabelly

Is this a recent thing?About 4 months ago I used my debit card to buy … Is this a recent thing?About 4 months ago I used my debit card to buy some software from a German company (100 euros). No fee showed on my account.Last week I bought some tyres from Germany (around 70 euros) and I was charged a Non Sterling Transaction Fee of £1.63.



may have something to do with the beneficiaries bank. if they used the same banking group as you the first time, no charge possibly, if it was a foreign bank the second time, then charge.. but who knows, it's so arbitrary.
fuhu78888

Clearly you have little understanding of how banks make money. It's not … Clearly you have little understanding of how banks make money. It's not from charging people annoying fees!



I know exactly how they make money, I work for a private equity firm.
Anything that generates money for a company is good (for them), no matter how small.
Banned
it's horrible isn't it. banks are evil. invest in bitcoin !
teh arn

I know exactly how they make money, I work for a private equity … I know exactly how they make money, I work for a private equity firm.Anything that generates money for a company is good (for them), no matter how small.



Oh, I get it. You're a Banker!
Original Poster Banned
Geez I place a post & come back after bursting my chops all day earning the government some valuable tax money & then get ripped apart by the "PC police"
Are.........
Are..........
Are............

Anyway,it's ok to make money from customers,but at least make it look like your making an effort to earn it oO as it just comes across as cheap & wrong.


teh arn

I guess these banks don't have staff to pay, upgrades to undertake, … I guess these banks don't have staff to pay, upgrades to undertake, investments to make, debts to pay off and shareholders to make happy. . . . .



Just like the energy companies...!
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